20% off MSRP

[Anonymous]

In a previous post someone suggested not to pay more than 15% off of MSRP and that it should be closer to 20% off MSRP.  Has anyone been successful doing this? Especially with Hondas or Toyotas? Do you have any tips on how to get this done.  I have negotiated successfully online for $500 over invoice, but never that much off MSRP.  I would really appreciate some pointers.  Especially being a woman. 

Here's what I am looking at:

A Honda Accord EX 2013

MSRP is 25,405

Invoice is 24,037

Average Price Paid is: 24,912

Consumer Reports Bottom Line (what the dealer paid)is 23,529

Consumer Reports Negotiated Price: 24,237

OR 

A Honda Accord LX

MSRP 22,480

Invoice 21,369

Average 22,130

Bottom: 20,920

Consumer Reports Negotiated: 21,569

[Anonymous]

We purchased a new Toyota Highlander last year, about $6,000 off the MSRP (was about 18% off the price) and 0% financing.  We were able to achieve that pricing and financing by doing a few things.   We used a service called True Car Pricing, they negotiate a predetermined price with certain dealerships for the vehicle you want.  No dealership of couse had the one I wanted because it was one that had almost no added features and they just don't really stock those stripped down models.  We were able to get them to give us a vehicle with added features (that I don't care about) and still match the True Car Pricing within a few hundred dollars.  We also contacted several dealerships even if they were not part of the true car system, let them know what we were buying, that we would be buying it within the next week and asked for they're best price, all done over the phone.  We had 2 dealerships that were serious about wanting the business and we negotiated between the two, being up front with them about exactly what we were doing.  The pricing between the 2 was very close, in the end we had a new sales manager at one of the dealerships who wanted the sale more than the other and he was able to offer us 0% financing which made a huge difference.  We would not have qualified for 0% without his pulling some strings.  We had a check in hand from Capital One Auto had we not been given the 0% through Toyota.  That is another thing, you MUST negotiate the car price and financing as 2 separate things and if possible get your financing ahead of time from a credit union if you can.  If you have great credit and can preapproved through Hondo or Toyota that is good too.  We just got lucky with the 0% and they happened to be offering it at the time, the guy was new and wanting to push some cars fast and he had a connection to financing.  Good luck! 

[Dustink]

That was me.

True car put the EX 12% under MSRP. So, if you do not want to do any negotiating. That would be the easy way to go.

Otherwise negotiate with the dealer. You will have to walk away from the deal a few times, but aim for that much off. It is possible. I was working with a dealer and ended up driving away 4 times over a period of 2 weeks before we struck a deal.