I need to know which one of you is out here buying Type R’s for 70k

[machimself]

I think the actual number of people buying this car at $15-$20k over MSRP is tiny. What dealers are asking for and what they're selling for are very different. A vast majority of those that have stood firm at $20k over in the face of sales opportunities still have their FL5 on the lot.

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[machimself]

Try a Hendrick Honda dealership if you can afford most all of the accessories. Mine was 56,000 OTD.
It has carbon wing, forged wheels, different steering wheel, all the mats, tinted windows, etc. I saved some on taxes as I trading my 2019 CTR in. I bought my 2019 out of state, and this one is also is out of state. I called over 20 dealers and remembered how Hendrick was selling the FK8. It was allwasys MSRP but you had to buy all the accessories. I'm 70 so I don't have patience I used to. This will probably be the last fun car I will own. Some of my past cars (2) 1964 GTO's, 1965 GTO, 1967 Firebird, Datsun 1600, 2000, Datsun 240z, 2000 Ford Lightning. So good luck. Mine should be here in the next two weeks.

Wish you lived in the Northwest I wanna cruise w you! Congrats

 

[elisalsa24]

You keep using the word underwater like you plan on putting nothing down. You might as well be ok with paying ADM if your ok with paying interest…

I put nothing down and I’m not underwater on my FK8. Because I bought the car at the true value of the car, underwater is when you owe more than the car is worth and can’t sell it you don’t need to put down if you have a 750+ credit score. Putting down on a vehicle doesn’t make sense imo for every 10k your payment only changes 100/month I’d rather have 10k in my bank account, a car is not like a house where I can pull money out of the equity. My car turns out to 55 after all the interest but I never plan on staying with a car forever I change cars every two years so that’s why I’d rather not be underwater and still have the money in my account. I know a lot of type r owners are on their 40-50s but I’m 23 this is not going to be my last car I still have a lot of cars I want to buy

 

[Drew30101]

Hate all you want about others spending the money they have, it won't get you one.

Anybody who wants this car has it, if you didn't want to spend over ADM you needed to know you wanted this car before last fall.

I agree with this comment completely. I put a hold deposit on the Type R the day after I got delivery of my 22 S.I. of February 2022. I had agreed at the time to 5-8k over MSRP as I went over 5k on the S.I.

Once the demand for the car arrived the new finance Manger bumped it to 10k.. I ended up walking and decided I'd wait till it was available closer to its sticker.

A week later after finally convincing myself I made the correct decision to walk my Dealer called me saying I could have it at MSRP as the owner had been on vacation and was furious they let me walk when I had financing and a down already deposited.

I guess the moral here is name your price and stick to it. Most of the people on here are fans, but have no real intention of purchasing. It's a free country and your right but don't gas light everyone else in your jealousy.

According to my dealer fifteen people showed up for the car but none of them had the credit, financing, or cash to actually be serious about the purchase. With allocations Honda keeps track of how long the R's stay on the lot when deciding their next shipments. That definetly ended up working In my favor just as a member here previously stated. "It's a business dont blink first", have your ducks in a row and make it happen. MSRP or not yoy only live once. Enjoy the drive

 

[DarthTrizzle]

just a heads up- if you don’t put any money down and want to purchase, but then trade in for a new car… you’ll be underwater on your next loan because what you owe on the type r (likely ~$35k if only two years later) will roll into the next vehicles loan. If you don’t trade in, different story.

it’s always advantageous to put money down. Right now, bank rates are 4% for online savings, but car interest rates are ~6+%. You want to finance as little as possible at that higher rate, as soon as you pay it off, that’s essentially a 6% return versus what you’d get at a high yield savings account at 4%.

if you’re new to personal finance, check out www.Reddit.com/r/personalfinance
When I was 23, I made several mistakes and was able to correct them before it was impossible.

The no money down finance as much as possible then trade in two years is a terrible idea. Your basically just paying all interest those two years. You don't lose the value of your down payment in two years, you just pay less interest.

 

[elisalsa24]

just a heads up- if you don’t put any money down and want to purchase, but then trade in for a new car… you’ll be underwater on your next loan because what you owe on the type r (likely ~$35k if only two years later) will roll into the next vehicles loan. If you don’t trade in, different story.

it’s always advantageous to put money down. Right now, bank rates are 4% for online savings, but car interest rates are ~6+%. You want to finance as little as possible at that higher rate, as soon as you pay it off, that’s essentially a 6% return versus what you’d get at a high yield savings account at 4%.

if you’re new to personal finance, check out www.Reddit.com/r/personalfinance
When I was 23, I made several mistakes and was able to correct them before it was impossible.

yea but I'm not trading in my car for less than I owe Type Rs with my year, color, and mileage sell for 6-10k over what I owe. Thank you for the advice but I'm not a crazy 23 year old just burning money I max out my Roth IRA contributions every year and save money. I would love to buy a FL5 but moving into it just seems to be an underwater move rn the way dealers are marking up the car so either I wait for the prices to drop or just get a different car. The upsetting thing is that people mess up the market for others and try to justify it and what the dealers charge paying 70-80k when the cars won't even auction for more than 55k. I just made this thread to understand why people are doing this out of pure curiosity

 

[elisalsa24]

The no money down finance as much as possible then trade in two years is a terrible idea. Your basically just paying all interest those two years. You don't lose the value of your down payment in two years, you just pay less interest.

But why if I owe 36k and then sell it or trade it in for 40-45k? A car no matter what is a depreciating asset unless you get lucky pick the right car and don't drive it for 20 years and have it garage kept. Boost Blue 2021 Type Rs with miles from 10k-30k are all going for $43-$50k; let's say I trade it in at around $44k I get out of the car with $8k in positive equity that goes towards the next car to have fun with and in the end I had 2-3 years of fun with a car then try something new while in total losing $3k from the original purchase, but at no point was the car every going to go up in value its a daily driver so for cars like this its just minimizing the loss while having the most fun. No part of buying sports cars is smart financially but people that buy this car at 70-80k are immediately at a $30k loss while Type Rs sit usually around 35-50k depending on accidents and mileage. Yes leasing cars would definitely be smarter and safer since I want to change cars every couple years but when I got this car but I just turned 21 when I got this car and I genuinely believed I wanted this car forever since then my mindset has changed and I want to own different fun cars while I'm young.

 

[daazn]

But why if I owe 36k and then sell it or trade it in for 40-45k? A car no matter what is a depreciating asset unless you get lucky pick the right car and don't drive it for 20 years and have it garage kept. Boost Blue 2021 Type Rs with miles from 10k-30k are all going for $43-$50k; let's say I trade it in at around $44k I get out of the car with $8k in positive equity that goes towards the next car to have fun with and in the end I had 2-3 years of fun with a car then try something new while in total losing $3k from the original purchase, but at no point was the car every going to go up in value its a daily driver so for cars like this its just minimizing the loss while having the most fun. No part of buying sports cars is smart financially but people that buy this car at 70-80k are immediately at a $30k loss while Type Rs sit usually around 35-50k depending on accidents and mileage. Yes leasing cars would definitely be smarter and safer since I want to change cars every couple years but when I got this car but I just turned 21 when I got this car and I genuinely believed I wanted this car forever since then my mindset has changed and I want to own different fun cars while I'm young.

Maybe they're old and it's their last fun car.

Maybe they're rich enough that 80k is a drop in the bucket for them

Maybe it's one of the shops that make parts for the car and need them ASAP for R&D.

End of the day, it's just money. You can always make more.

 

[CTR]

A very small minority are paying $70-$80K for this car. I don't understand the title of this thread...

If you only have $8K equity in your car I would advise you to keep it or find a way to add some extra towards an FL5 if you really want it. That's not a large enough down payment with current interest rates. Even with stellar credit the average car loan today is 5-6% which is painful compared to what you likely have on your FK8.

 

[VarmintCong]

I am calling seriously nationwide saying I’m willing to fly and have a trade in and show them the vin and still get responses at 20k over. Every dealer near me is 20k+ over even if you walk into the dealer. I’m really just not willing to pay over what I paid for my FK8 which was 47k i don’t really see a reason to pay 60+ when the BMW near me charges MSRP for their orders on the M2 and 70k+ when the ZL1 is 70k and I already have an order in at 10k over for a Z06 the closer these dealers get to that price it makes me hate Honda dealers even more.

try sounding less desperate on the phone.

 

[CTRifecta]

Do you mention your age as much over the phone to these dealerships vs how often you mention it here? That's probably one reason you're getting 20adm responses.

 

[elisalsa24]

Do you mention your age as much over the phone to these dealerships vs how often you mention it here? That's probably one reason you're getting 20adm responses.

Nah I don’t tbh I’m losing hope I’m probably just gonna keep this car for a while longer and see what comes up at the end of the year

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