In my personal experience, the most effective way to save significant dollars on a new Honda is also one of the simplest: request prices right upfront from multiple dealerships before buying ... and do it online.
Too many buyers try negotiating with just one dealer. Some even in person ... big mistake no matter how well they think they are prepared.
In addition, Honda pricing can vary much more than many consumers realize — especially on popular SUVs, hybrids, and high-demand trims.
For more than 15 years, this site has helped buyers request competing quotes from multiple Honda dealers at once, usually revealing surprisingly large differences in pricing, fees, and dealer add-ons.
I’ve also personally used this same strategy myself multiple times, along with multiple times with friends and family members, because it completely changes the buying process: instead of trying to negotiate against a single dealership, dealers know they have to compete with each other for your business.
And after watching thousands of quote requests over the years, I can confidently say: it works remarkably well.
And once you have the quotes, you can then negotiate further – and all from the comfort of your home. It's also very easy to set up.
Here's how: strategically use a free online car-quote service. There are many great auto sites that offer it. I happen to prefer Edmunds.com, due to their massive dealer participation and quick, easy process. But you can use any one you may prefer.
The important thing is to simply put the odds much more in your favor for getting the best available discount.
The Reasons Online Quotes Work So Well
1. Dealer Competition: As soon as they get them, dealers know they are now in a multi-dealer competition for your business and need to offer you the most competitive price to get it, often right upfront.
2. Increased Buyer Leverage: You can then negotiate further if you choose to because you have multiple dealers vying for your business. More "how to" specifics on negotiating online with multiple dealers can be found here.
3. Transparency: Requesting quotes from multiple dealerships encourages price transparency. Dealers are more likely to provide clear and competitive quotes when they know they're being compared to other options.
4. Market Price Awareness: By getting quotes from multiple dealers, you get a better understanding of the market price for the specific car you are interested in. And with this information, you can negotiate more effectively and know when a dealer's offer is above or below the market average.
5. Incentives and Promotions: It is not unusual for different dealerships to offer varying incentives, promotions, or discounts at different times. By obtaining multiple quotes, you can identify which is offering the best overall deal currently.
6. Very Little Stress: There's little or no stress because you are doing this from the comfort of your own home or office, so there's no sales pressure and the buyer is actually the one in control.
7. Access To Information: You'll have all the resources of the internet at your fingertips to study the offers you are getting or research any questions you may have as opposed to being more limited while sitting at a salesperson's desk.
Here's Where:
Again, my personal favorite free quote service is Edmunds.com but use any site you like. I've just had good experiences there. Also seems fast and easy, taking only a minute or two.
I also find the vehicle research there very useful, if needed. If you go there, just enter your make and model, then select the year, and then "Check Availability". And I normally include dealers within 100 miles to be sure of a brisk competition, but you may have to go further if you are in a more rural area.
And of course, you are never under any obligation at any time.
Again, if you like, there are more details on this technique here as well as how to interact with the dealers once you get the quotes.
Using this technique, I think you'll find car-buying has never been quite so interesting, and even fun.
When Is The Best Time To Buy A New Toyota? At "The End"
Just remember "The End" ... as in the end of the month, the end of the week, the end of the day, and the end of the model year.
Buying a car at "the end" can potentially be advantageous for negotiation due to several factors:
End Of The Month: Dealerships usually have sales targets and monthly quotas to meet. As the end of the month nears, they are often more motivated to close deals to meet these targets because significant bonuses may be at stake. If they haven't reached their goal yet, this can work in your favor.
End Of The Week: Similarly, sometimes buying late in the day on a Sunday can catch a dealership needing to reach their weekly goal. Again, this can create a sense of urgency for them to finalize a sale, providing you more leverage in negotiations.
End Of The Day: Going in to finalize a sale just a couple of hours before they close can also create a sense of urgency for the dealer. As the closing time approaches, they may be willing to bend more because they can't count on you returning.
End Of The Model Year: Dealers are often willing to concede more as the new model year vehicles are rolling out. They do this because they need to make room for the new inventory as well as selloff their remaining previous model year vehicles before consumers lose interest and focus in mostly on the latest models.
Remembering "The End" can be the final piece in the low new Honda or Acura price strategy, but it doesn't always work, depending on whether a dealership already has their sales goals well in hand. But it is something to keep in mind as you are evaluating and further negotiating your price quotes (if you choose to).
You can get the quotes anytime you want, but then, if possible, try to wrap things up by following one of "The End" situations just in case it leads to a further drop in price.
Well, I hope this has been helpful. Have fun turning the tables on dealers with this ... and let me know how you do.
All the best - Josh