How Much Should I Pay: 2010 Honda Fit Prices
Question: Will the toyota recall have any effect on Honda prices, either an increase or decrease? I’m interested in a 2010 Honda Fit Sport with Automatic transmission.
Queen of the Road: According to CNN (http://money.cnn.com/2010/02/02/news/companies/auto_sales/index.htm?hpt=T2) U.S. auto sales rose 6% in January. Toyota said Tuesday that January sales fell 16% from a year earlier, which should not be surprising given the recall debacle.
Honda stated their January sales fell compared to the same period last year while Ford, GM, Nissan and Hyundai all reported improved sales. It is hard to say if the Toyota effect has taken place yet but we doubt Honda will be able to increase their prices due to Toyota’ recall.
There is just too much competition and the macroeconomic environment is still difficult when it comes to getting financing for cars. If anything we would not be surpised for more car manufacturers to punch Toyota in the gut by offering additional incentives to get past Toyota car owners to make a switch.
These types of promotions usually eat into profit margins in the near term. Former Toyota owners may get a better deal by car manufacturers that will offer “switching deals” but it may also trickle down some extra savings to all new car shoppers.
Before you begin calling or visiting every dealership, I highly recommend you start a virtual negotiation with your surrounding dealers through Braggle on www.AutoBrag.com. You basically place anonymous offers to all dealerships within a 25 to 200 mile radius within your zip code. Dealerships get to compete for your business without gaining your contact information. This method is the easiest procedure and it’s free of charge. There is no obligation to buy if a dealer accepts your bid.
According to AutoBrag’s statistics for the 2010 Fit,
The National Average discount off MSRP: 3.40%
How To Calculate The % Off MSRP: MSRP – Selling Price = X / MSRP = Y
Selling Price = The price the dealership is willing to sell the new car for. Excluding tax, registration and dealer fees
X = the dollar amount saved off MSRP
Y = the % off MSRP (Move the decimal point over two digits to the right and that’s the percentage you’re saving.)
Factory-to-Dealership Specials: A Cash Back Incentive of $500 is being offered to the Dealership upon purchase. $500 Dealer Cash available on 2009 and 2010 Fit models. See your dealer for details. Offer Expires: 3/1/2010
A Cash Back Incentive of $500 is being offered to the Dealership upon purchase. Offer Expires: 3/1/2010
For car negotiation tips consider reading: Car Buying Tips From An Insider. Let our car pricing experts know if you have any further car questions. Good luck and keep us posted on how your purchase goes!
