What did you pay for your FL5?

[Tickle]

I’m in a wait and see type mode - and don’t plan on changing from that for a little while. Personally the whole ADM deal might not even be an issue on most if not all cars by this time next year. With the current economy, FED already stating they will be increasing interest rates and trade-ins already starting to come down to normality - purchases like this will have a limited audience. I know in 2017 when the CTR first came out - people were paying something like $2500 extra if that on the car. My logic is that this time next year - we won’t be seeing this car in the used car market or any car going for over MSRP of a new one - I just don’t see it. The pandemic which created a chip shortage has really FUBAR’d the auto market among other things; so I’ll be curious to see what the landscape looks like next year at the earliest.

Goodluck.

I know it's somewhat popular to expect a crash to the auto market on this forum. I just don't see it.

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[Neciovato]

Goodluck.

I know it's somewhat popular to expect a crash to the auto market on this forum. I just don't see it.

Eh…its like anything ‘what goes up, eventually comes down and what comes down eventually goes back up’. But you are right - I think everyone (including myself) has been predicting the carApocolypse and we are still waiting for it to take hold. Seeing some ‘cracks’ but enthusiast cars are still going for hefty price. Regardless - here’s to hoping the car market goes back to normal sooner rather than later so we all can have a fair shot at fun cars again

 

[ElDuder]

Inflation or not car prices will keep rising because people have no problem financing at $800 or $900 a month for 72 months. Amazingly 19% of people are willing to pay over MSRP for a car LMFAO.

For car manufacturers it’s easy monthly revenue because the majority of people are financially illiterate only focusing on if they can afford the monthly payment. As a business why would they deny free money from people who don’t mind spending 99% of their income?

This is why in the US 41% of people live check to check and 30% making over $200k live check to check. The numbers show cars will be cheap and plentiful in a few years because auto delinquency rates have been setting records indicating we will likely see an auto market crash from all the terrible subprime or underwater loans given for overpriced cars.

 

[citrus]

Inflation or not car prices will keep rising because people have no problem financing at $800 or $900 a month for 72 months. Amazingly 19% of people are willing to pay over MSRP for a car LMFAO.

For car manufacturers it’s easy monthly revenue because the majority of people are financially illiterate only focusing on if they can afford the monthly payment. As a business why would they deny free money from people who don’t mind spending 99% of their income?

This is why in the US 41% of people live check to check and 30% making over $200k live check to check. The numbers show cars will be cheap and plentiful in a few years because auto delinquency rates have been setting records indicating we will likely see an auto market crash from all the terrible subprime or underwater loans given for overpriced cars.

The Honda that makes and sells the car and the Honda that services auto loans are not the same company, and a lot of customers don't necessarily even go through AHFC for financing (predatory dealers may lend themselves/though a partner bank, buyers may borrow from their own bank, etc.).

Once a car is sold, it's sold. American Honda Motor Company gets one lump sum per car, and that's it. The bank gives it to them, and then collecting on the loan becomes the bank's problem. Manufacturers don't really care about how customers will choose to finance. Their goal is only to find the sweet spot that lets them earn as much (lose as little) money as possible from as many people as possible.

 

[Preyforsurf]

I've been resisting registering and posting here because I'm not sitting in my CTR yet, but I suppose I'll share where I'm standing. I was hoping my first post would have been my initial 100mi driving impression, but here we go.

OTD 58k. 10k markup (technically 13k but they came up 3k on my trade than even I think it's worth).

They initially wanted 20k, initial offer was... 70k with all the bells and whistles; the wheellocks and warranties that I've seen mentioned here got stripped out. The price sheet came down to 57k eventually and I was good with that.
My thought process on markup and why, of course would prefer to pay msrp, but I rationally am fine with markup is, if I wanted to pull my usual trick of buying 1 year old models with 3k miles, those are running 50-53k. I can't expect to pay 44k for the new version when the old still costs another 10k (for the technically lesser vehicle).
Interest rate is 6%, I have basically perfect credit, except for transunion which is always lagging by 20-40 points, I'm assuming they are talking to my exGFs for references. And transunion is what they ran with. Still I was told 6% is the lowest rate they've seen for the month and if I go to the usual usaa or Wells they are at 6.5 and 7%. Not that I plan to carry this loan for more than a year or two, at these rates your total payoff will be 75k.
I'm happy with the deal I made, as the days wore on since putting down and signing I've only become more excited, I had a little buyers remorse at the time, all sane people do, I get buyers remorse from dinner sometimes. It quickly abated, maybe an hour after leaving the dealership. That's a huge win for me, I'm usually waking up at night over financial decisions from 10 years ago. I don't feel that way over this and this would be the strongest period, especially considering I can still blow up the deal and walk away. But everyday I hope more and more for that call saying she's in.

 

[CivicR38]

The Honda that makes and sells the car and the Honda that services auto loans are not the same company, and a lot of customers don't necessarily even go through AHFC for financing (predatory dealers may lend themselves/though a partner bank, buyers may borrow from their own bank, etc.).

Once a car is sold, it's sold. American Honda Motor Company gets one lump sum per car, and that's it. The bank gives it to them, and then collecting on the loan becomes the bank's problem. Manufacturers don't really care about how customers will choose to finance. Their goal is only to find the sweet spot that lets them earn as much (lose as little) money as possible from as many people as possible.

It's really no ones business either how someone spends their money. If an individual chooses a 900/month car payment but has something that makes him happy who cares, let people live their life it's short enough as is.

There's been a lot of financial advise on here but at the end of it people are going to do what they want to do. Life isn't about how many zeros you have in your bank account, life is about the experiences along the way and all you have as you get older are the memories you made. For some, having this Type R will be something they look back at when they are 70 and have a cool story for their grandchildren.

I think a lot of people should really plan on not getting a CTR if they aren't comfortable paying a markup. Logging on to a message board and expressing your frustration isn't going to get you the car. I'm not sure why it's such a shocker either, I mean come on. Everyone expected the car between 41-44k (happened), and everyone knew there would be an ADM.

 

[Toprarnen]

Added one more record. Thanks all, to those who have provided information. It's really helpful for us to feel out the market. I'll start to include purchase date as well (month only)

 

[CTR]

Thanks for keeping track. It might be helpful to post the purchase state so we can know which region it was bought in.

 

[Neciovato]

It is interesting that the ADM is only $10k - figured dealers would be trying more along the lines of $15-20k. When I look at new Z - seems since inventory has been really slow to get out - a lot of their markups are well over $10k and if you want a proto - its like buying a used GTR.

I wonder as interest rates increase and the supply increases - if that ADM will be going down to more like $5k? For those that bought their car - was there any negotiation or was it a 'take it or leave' bc there are like 20people on a list after you wanting this car?

 

[lexro]

Eh…its like anything ‘what goes up, eventually comes down and what comes down eventually goes back up’. But you are right - I think everyone (including myself) has been predicting the carApocolypse and we are still waiting for it to take hold. Seeing some ‘cracks’ but enthusiast cars are still going for hefty price. Regardless - here’s to hoping the car market goes back to normal sooner rather than later so we all can have a fair shot at fun cars again

Historically speaking, has car prices ever "went down"? This market is indeed crazy but I don't see how is a MSRP on a new car would be lower than previous years.

 

[Neciovato]

Historically speaking, has car prices ever "went down"? This market is indeed crazy but I don't see how is a MSRP on a new car would be lower than previous years.

I might have mistyped what I meant. Last year, pretty much EVERY car had ADM added to it - bc of supply and demand. For instance - my niece who NEEDED a car winded up paying about $5k more over MSRP on a Mazda CX3. So what I am referring to as far as 'getting back to normal' is NOT MSRP coming down - bc you are correct - MSRP only goes up. I'm hoping we get to a point sooner rather than later where ADM is not something you see as a 'norm'. The MSRP is set by the manufacturer for a reason - if they feel their car is only worth $42k (for the sake of argument) - it's hard to justify paying $5-15k over that bc a dealer is being greedy.

 

[Kuhal]

Got the price quote on mine which should be here in a week or so.

Price is $54,753 with ADM (10k markup basically). They also are forcing a "package" that includes various things like wheel locks, tint, and a ceramic coating, that's a $3k. The real killer is, of course, the ol' tax man which came out to a hefty $4000 (state has a sale tax on vehicles that's based on sales price) for a final price right around $61,000.

I have a trade-in and a substantial down payment, so I won't have to finance too much, it's definitely steep though part of it is something I'd have to pay on ANY vehicle (the tax). Can't escape that part.

 

[citrus]

I wonder as interest rates increase and the supply increases - if that ADM will be going down to more like $5k? For those that bought their car - was there any negotiation or was it a 'take it or leave' bc there are like 20people on a list after you wanting this car?

I think a lot of dealers will start to find that their 20-deep lists are hollow. Even before MSRP dropped, lots of people had multiple spots, and now plenty of those people have walked away for one reason or another. So hopefully, yes, that and everything will get us closer to 0 ADM.

That said, people can also come back, and it might be that 10k is really just what it is. Maybe initial hype cools fast, but that means the price also settles fast. Just have to wait and see.

 

[randomFL5guy]

Historically speaking, has car prices ever "went down"? This market is indeed crazy but I don't see how is a MSRP on a new car would be lower than previous years.

FRS/BRZ's were going for as high as 7k over MSRP back in 2013, but by 2016 I got mine for 3k under MSRP.

 

[randomFL5guy]

I think a lot of dealers will start to find that their 20-deep lists are hollow. Even before MSRP dropped, lots of people had multiple spots, and now plenty of those people have walked away for one reason or another. So hopefully, yes, that and everything will get us closer to 0 ADM.

That said, people can also come back, and it might be that 10k is really just what it is. Maybe initial hype cools fast, but that means the price also settles fast. Just have to wait and see.

Yup, exactly why I thought it was bizarre that everyone thought 20 person list, 3 cars a year means 7 year wait. Those 20 people are each probably at least on 3-4 lists.

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