airgate

I've been looking at Hondacars.com for awhile now and watching to see if they'll do any special incentive to move 2008s and get some momentum on 2009s and last month they ran only 3.9% for 60 months...on just about everything (from the Civic to the Ridgeline). It surprised me even more that Honda wasn't really incenting on their hideous Pilot (oops, did I say that out loud)... or Ridgeline. The best offer, APR wise, was left at 3.9% for 60 months even with MANY dealers having lots of 2008 Ridgelines on the lot.

Well...I went and checked now and they have NO special APRs for financing and only LEASE specials... and all of them have near the neighborhood of $3k down. It's nearing the middle of January...WTF?? http://automobiles.honda.com/current-offers.aspx

wickerbill

I got lucky and got in on the 1.9% civic financing deal in June. It was right after gas prices went crazy and I couldn't believe that they were running specials like that when it was almost impossible to find dealers that had civics in stock.

dombey

dude. just because it says 3k down doesn't mean you've gotta pay 3k on the lease. If it is says $299 for 36 months with $3600 down, that is essentially $399 month (a little more due to interest). They just use the down payment/cap redux to get to a really low monthly number they can advertise. To get to $399 all you've gotta do is ask - they have no problem moving those numbers around for you.

airgate

[quote name='dombey' date='Jan 11 2009, 08:34 PM'] dude. just because it says 3k down doesn't mean you've gotta pay 3k on the lease. If it is says $299 for 36 months with $3600 down, that is essentially $399 month (a little more due to interest).

rwheelz

Hmmm yeah virtually every manufacturer is offering killer incentives and low rates right now. Honda is definitely going to have a tough time selling cars in this market if they don't match the competition.

Saki GT

Wait for Inauguration sales, or President's Day sales.

GPMike

Programs....they come and they go.

airgate

I stopped by the Honda dealer in Concord, NC and looked at the Ridgeline. They had about 5 2008s in front. The salesman who came to help me said they had "plenty more" in the back.

I asked him, "Hey, why doesn't Honda have any special APRs for this month?"

He smirked and said, "Man, I wish I knew...it's killing us. The Toyota dealer (right next door) is doing good business with 0% for up to 60 months on some vehicles."

I asked him if they had any "extra" dealer incentives (I know Honda never does "Cash Back") and he said they do have quite a bit for the Ridgeline...and the Hybrid models.

WTF?? Really? Hybrids with Dealer Incentives??

I guess that's realistic with the new Insight coming out very soon...

I find it strange that Hond wouldn't offer some killer APRs...knowing that most folks who would JUMP on a 0.9% finance rate probably won't keep their loan to full term... Seems running a killer APR would generate more traffic than dealer incentives that Honda NEVER advertises.

GPMike

Have you driven the Pilot? The design is polarizing (I happen to like and for me that's all that matters) but the ride is amazing. I can't believe its an SUV.

Poindexter

It isn't just Honda. All the manufacturers are hurting and need to get away from these crazy APR incentives. Before 9-11 had you ever heard of rates like these on cars? Now it seems to be the norm. They don't balance out on the budget anymore and they're going away.

Honda is just starting the trend. I bet you Toyota follows in February, followed by everyone else before the second quarter.

If you want to take advantage of really cheap money, buy a car now!