I had received a quote of $22,777 for an EX-L with sensing from Fletcher Jones Honda in Chicago. However, they didn't have any in stock and weren't sure when they would be getting more in. I reached out to about 5 different local dealerships to see if they would match that price and the best I could get was $23,900. I figured that I would just have to wait until they got one in, since $1100 in savings was too much savings to pass up, even though they are three hours away. Then out of the blue on Monday International Honda out of Sheboygan replied to my email indicating that they had an EX-L with sensing and they were willing to match the $22,777 price. So I let them know I would be there an hour before closing to take care of the paperwork and finalize the sale. It wasn't until I got home pulled the window sticker out of the glove-box that I noticed that I had an EX-L with Navigation. I turned out that their invoice and all of their other paperwork had incorrectly listed the vehicle as an EX-L with sensing. The next day I spoke with their sales manager and even though he acknowledged that they made a mistake, he would no longer be able to honor the price I was given since the invoice on the EX-L with Sensing is more expensive than the one with Navigation. He was able to locate an EX-L with Sensing in the same color at nearby dealership, but the price was going to be $23,077. I pushed back at first, but figured it was an honest mistake and I was still getting a good deal, so I agreed. Well when I got there tonight to make the switch, they had advised that they were going to honor the original price. Needless to say, I was very impressed with how the situation ended up and I wouldn't hesitate to buy another vehicle from them in the future.
My buying experience almost turned into a nightmare.
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Congrats. It can be a bit frustrating to get the car in the trim and color you want right now since stocks aren't full yet. But it seems like Honda dealers take a long view of customer business, instead of trying to squeeze every dollar out of you up front they try to win your long term service and repeat business.
How much money did they really make based on the fact that I bought it for a significant amount under invoice?
It might be just a small percentage. They might have figured its better to speed up the process with some people and go aggressive on others. If your buying process was quick that might explain it
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I don't think anyone can truly say, because there's no public data on what they actually pay for the cars, but I'd say they made more than $1000 on the deal.
I base that on the fact that last April I got my LX Accord for $2000 below invoice. Your $22,777 was $1000 below invoice. Subtracting the difference, and assuming my dealer made at least $1 off me, I think it's safe to say your dealer made $1001 or more.
Also, if there was any dealer fee...documentation fee...any fee that came BEFORE the sales tax calculation on your invoice...then add that to the profit they made.
So, yeah, don't feel bad for them
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