2014 Honda Civic may be cheaper Labor Day weekend
Honda’s national “Summer Sales Event” continues through the end of Labor Day weekend, Cool! but what about dealer incentives? Torque News decided to make a phone call or two to our favorite dealerships, check out the local Sunday paper and take a closer look at factory incentives as we drive into the unofficial end to summer. While the calendar tells a different story, for most, with the return to school and Fall in the air, Labor Day weekend is the last opportunity to bust out the bikes, boat, quads and head to the beach or bush for some R&R.
Let’s go shopping
Seriously, I’d rather go to the dentist, but , this weekend may hold a measurable financial savings when buying a new Honda, here’s why.
Looking to the math
Honda’s not big on zero interest hooks, supper long term financing and hidden contract balloon payments. Now, I’m not saying that your dealer sales department won’t push extended warranties, fabric and paint protective coatings, that’s how the salesman pays for moma’s shoes. As always, we recommend that you walk into your local dealership showroom with your guard up and your eye’s wide open. Business is business.
Automatic factory incentives
If you're a veteran or presently serving in the U.S. military, Honda will credit $500 towards your purchase of a 2014, 2015 Accord, Civic, CR-V and other select models. Ask your local dealership for details.
Or, for those Buyers that have graduated or are presently attending college, Honda likes you for $500 of your new car purchase. That’s nice, what about the rest of us working stiffs on Labor Day?
For well qualified buyers( there are a few left) Honda financing is offering exceptionally low lease rates on Accord, Civic, CR-V, Odyssey, Pilot and Fit. Example: 2014 Civic Sedan CVT LX is offered for $159 per month for 36 months with $2499 total due at signing plus applicable sales tax and DMV. Note: Factory lease incentives are limited as to make and model. Monthly payment may vary by region and is subject to change with credit rating.
Am I better off buying?
That depends. How many miles do you drive a year, how long do you intend to keep your Honda, what is your credit rating and how much cash can you bring to the bargaining table?
Car dealers like cash. They also make most of their profit on a new car sale on your trade in. Dealership profit margins on new cars is pretty much dictated by the factory, competition, a well informed buying public and manufacturer sales volume bonus incentives to the dealership.
Do your homework, find a dealership that is overstocked with your model of choice. Also, shopping at the end of the month can be advantageous to the buyer. Yes, car salespeople and dealerships are held to volume sales quota. Most(not all) will push the bottom line a bit harder at the end of the month.
Honda financing is presently offering .09% financing for up to 60 months on select models. Not all buyers will qualify, however, this is your starting point, use it to your advantage when negotiating a new or used Honda purchase finance rate.
O.K., how much will a 2014 Honda Civic Si Sedan cost me?
Well that depends on where you live, but we believe that with factory and dealership incentives, low finance rates and higher than usual inventory, now is a good time to hit the car lot.
Honda Civic pricing starts at $18,390. For that price you can purchase a nicely appointed and very drivable Civic LX with CVT or 5 speed manual. Honda Civic holds the highest residual( resale) value in its segment. Not real exciting, but new and reliable. We like the Si.
Honda Civic Si Sedan pricing starts at $22,990, offers many standard safety and state of the art connectivity and safety features. We like the 2.4 liter 205 horsepower i-VTEC motor and stated 22 city/ 31 highway stated MPG. Not the best fuel economy in the Civic line, but we’re willing to spend a few more $ on gas for the exceptional performance. You won’t find CVT or an automatic transmission in Si. The limited slip differential is signaled via a 6 speed close ratio manual and drive-by-wire throttle.
A fully loaded Civic Si with state of the art accident avoidance, sport trim, and static touchscreen monitor retails for $24,490. This is a bargain in the world of metric tuners. This weekend a buyer may negotiate 8 to 10% off of the retail price of the car while retaining .09% Honda financing.
That’s an educated guess. Results will vary(greatly) depending on dealership inventory, specific model availability and individual salesperson quota motivation.