Finance good deal or not? Civic 1.8 EX

faz100 · 4th November 2007, 15:32

Hi

I am close to buying a New Civic 1.8 EX model, the dealer has given me a final price of £17,200 on 0.0% finance over 2 years (apparently the dealer will pay the interest for me). Although i am paying over 50% as deposit. He says cant go any lower on that because of 0.0% finance.

I was close to agreeing but i stuck out for my original target price of £17,000 and said that i will have a think. He insists this is his last price.

is it a good deal or not?

by the way when he was configuring the car on the computer it automatically added the £200 increase on the 08 model, although he later took that of as he said he can get me the 07 model, but is there any difference between the models?

many thanks

FWH · 4th November 2007, 15:43

I paid around 16 500 for my NHB Executive (closest we have to EX) with blue footwell lighting, parking sensors, travel pack, extra set of alloys with studded winter tyres. But that was without the 0% interest deal.

Work out what you would be paying in interest somewhere else and use that number to compare.
I am guessing it is more than 200.

But you are better off with some local UK input as prices.
Taxes and things vary.

The 08 EX has parking sensors as standard.
Go for the 08, it will be worth more when you sell too.

TTDegs · 4th November 2007, 16:05

unless of course you have gone for the reversing camera

seriously though, for the sake of £200, I'd go with the '08 model

The only difference is as FWH says above - the parking sensors - but you can't get them for £200, and it will indeed be worth marginally more come re-sale time.

On the flip side, if he has an '07 ready and waiting right now, vs a 2 month (or more) lead time on an '08...

TTDegs · 4th November 2007, 16:07

Where (roughly) are you faz?

and have you checked out some of the offers from the dealers who post in this forum?

faz100 · 4th November 2007, 16:10

Hi

Am in the London, UK?

I have checked out many online offers, but i am looking for a 0.0% finance deal. so far only found one dealer willing to offer it

mrh339 · 4th November 2007, 16:15

You need to haggle a bit more. I paid £15420 on the road for my EX a few weeks ago. Look for a cheaper purchase price and even with interest on the loan( again shop around) you should save many hundreds of pounds.

Brodick · 4th November 2007, 17:22

Quote:

Originally Posted by mrh339

You need to haggle a bit more. I paid £15420 on the road for my EX a few weeks ago. Look for a cheaper purchase price and even with interest on the loan( again shop around) you should save many hundreds of pounds.

15420 for a NEW Civic EX !

( surely it was a pre reg )

andyp · 4th November 2007, 17:27

I paid £15999 for a pre reg 1.8 ex with 10 miles on the clock 56 plate, 6 month ago

Selwoc · 4th November 2007, 17:56

I paid £16,500 for a 2.2 Diesel ES

mrh339 · 4th November 2007, 18:02

Nope.

mrh339 · 4th November 2007, 18:03

Quote:

Originally Posted by Brodick

15420 for a NEW Civic EX !

( surely it was a pre reg )

nope.

FWH · 4th November 2007, 18:08

Quote:

Originally Posted by Brodick

15420 for a NEW Civic EX !

( surely it was a pre reg )

Any options in that?

Given that I paid around 1k more with Swedish tax and a number of options that sounds realistic.

faz100 · 4th November 2007, 18:08

many thanks to some thoughtful replies,

but i am only looking for 0.0% finance and the dealer claims he cant offer me any more discounts as he will have to subsidies my interest?

is this how it works on 0.0% which is being offered by the dealer rather than honda

many thanks

FWH · 4th November 2007, 18:11

Quote:

Originally Posted by faz100

many thanks to some thoughtful replies,

but i am only looking for 0.0% finance and the dealer claims he cant offer me any more discounts as he will have to subsidies my interest?

is this how it works on 0.0% which is being offered by the dealer rather than honda

many thanks

Perhaps a stupid question, but...

Why must you have 0.0% finance even if the actual price of the car is higher?

"Normal" finance and lower price on the car could equate to lower Total Cost of Ownership which surely is the goal.

I would look at the TCO calculation and not just blindly stare at the %-age. But perhaps I am missing something here.

I would expect that they just factor the interest into the car price and market the deal as 0,0% finance and it ends up cost you the same or more..

faz100 · 4th November 2007, 18:14

my faith/belief does not allow me to deal with interests in any form, whether it be mortgage, credit cards etc

mrh339 · 4th November 2007, 18:15

Sorry Faz my mistake.

mrh339 · 4th November 2007, 18:18

Quote:

Originally Posted by FWH

Any options in that?

Given that I paid around 1k more with Swedish tax and a number of options that sounds realistic.

No options. Just mats. Also bought Honda Happiness for an extra £500.

Korkut Varol · 4th November 2007, 19:17

In Turkey, the current price of 1.8 i-shift is about £20900. What we are given is close to EX, but no glass roof, no satnav, no HFT. We pay a helluvalot as tax to the government.

theface · 5th November 2007, 01:27

i paid £16000 for 1.8 ex (not pre reg) with mats and boot liner included a month ago.(plus pearl paint option)
if you look in the motoring magazines list price is about 17250, target is £16000.
in the back of these mags you'll find loads of dealers that will match these target prices.

HappyMan · 5th November 2007, 11:20

so the dealer is using the potential discount he would offer you to pay the interest on the loan you are to take. I don't want to get into a religious argument or anything like that, but aren't we just playing semantics here. I am not sure of the financial implications but realistically speaking if you take the figures from 'TheFace' then you should be able to get the car for £16000 against £17200 you will pay, so the dealer is using the £1250 difference to fund interest so aren't you paying interest anyway?

Again, I don't want to offend you in any way I am simply confused

and I apologise now if I have offended you.

4th November 2007, 15:32	#1 (permalink)
faz100 Valve Cap Join Date: 4th November 2007 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts	good deal or not? Civic 1.8 EX Hi I am close to buying a New Civic 1.8 EX model, the dealer has given me a final price of £17,200 on 0.0% finance over 2 years (apparently the dealer will pay the interest for me). Although i am paying over 50% as deposit. He says cant go any lower on that because of 0.0% finance. I was close to agreeing but i stuck out for my original target price of £17,000 and said that i will have a think. He insists this is his last price. is it a good deal or not? by the way when he was configuring the car on the computer it automatically added the £200 increase on the 08 model, although he later took that of as he said he can get me the 07 model, but is there any difference between the models? many thanks

4th November 2007, 18:15	#16 (permalink)
mrh339 Supporter Triangular Exhaust Join Date: 27th September 2007 Location: Gloucestershire Posts: 338 Thanks: 0 Thanked 2 Times in 2 Posts	Sorry Faz my mistake. Last edited by mrh339; 4th November 2007 at 18:16. Reason: .

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This thread is about: good deal or not? Civic 1.8 EX, it's in Buying, Dealers and Servicing at the Honda Civic forum Civinfo; Hi I am close to buying a New Civic 1.8 EX model, the dealer has given me a final price of £17,200 on 0.0% finance ...

4th November 2007, 15:43	#2 (permalink)
FWH Super Moderator Civinfo guru Join Date: 3rd June 2007 Location: Sweden Posts: 4,838 Thanks: 3 Thanked 26 Times in 23 Posts	I paid around 16 500 for my NHB Executive (closest we have to EX) with blue footwell lighting, parking sensors, travel pack, extra set of alloys with studded winter tyres. But that was without the 0% interest deal. Work out what you would be paying in interest somewhere else and use that number to compare. I am guessing it is more than 200. But you are better off with some local UK input as prices. Taxes and things vary. The 08 EX has parking sensors as standard. Go for the 08, it will be worth more when you sell too.

4th November 2007, 16:05	#3 (permalink)
TTDegs Super Moderator Civinfo master Join Date: 4th August 2006 Location: Cardiff Posts: 5,638 Thanks: 0 Thanked 0 Times in 0 Posts	unless of course you have gone for the reversing camera seriously though, for the sake of £200, I'd go with the '08 model The only difference is as FWH says above - the parking sensors - but you can't get them for £200, and it will indeed be worth marginally more come re-sale time. On the flip side, if he has an '07 ready and waiting right now, vs a 2 month (or more) lead time on an '08...

4th November 2007, 16:07	#4 (permalink)
TTDegs Super Moderator Civinfo master Join Date: 4th August 2006 Location: Cardiff Posts: 5,638 Thanks: 0 Thanked 0 Times in 0 Posts	Where (roughly) are you faz? and have you checked out some of the offers from the dealers who post in this forum?

4th November 2007, 16:10	#5 (permalink)
faz100 Valve Cap Join Date: 4th November 2007 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts	Hi Am in the London, UK? I have checked out many online offers, but i am looking for a 0.0% finance deal. so far only found one dealer willing to offer it

4th November 2007, 16:15	#6 (permalink)
mrh339 Supporter Triangular Exhaust Join Date: 27th September 2007 Location: Gloucestershire Posts: 338 Thanks: 0 Thanked 2 Times in 2 Posts	You need to haggle a bit more. I paid £15420 on the road for my EX a few weeks ago. Look for a cheaper purchase price and even with interest on the loan( again shop around) you should save many hundreds of pounds.

4th November 2007, 17:27	#8 (permalink)
andyp Valve Cap Join Date: 30th August 2007 Location: Birmingham, England Posts: 42 Thanks: 0 Thanked 0 Times in 0 Posts	I paid £15999 for a pre reg 1.8 ex with 10 miles on the clock 56 plate, 6 month ago

4th November 2007, 17:56	#9 (permalink)
Selwoc Valve Cap Join Date: 3rd November 2007 Location: Oxfordshire Posts: 43 Thanks: 0 Thanked 0 Times in 0 Posts	I paid £16,500 for a 2.2 Diesel ES

4th November 2007, 18:02	#10 (permalink)
mrh339 Supporter Triangular Exhaust Join Date: 27th September 2007 Location: Gloucestershire Posts: 338 Thanks: 0 Thanked 2 Times in 2 Posts	Nope.

4th November 2007, 18:08	#13 (permalink)
faz100 Valve Cap Join Date: 4th November 2007 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts	many thanks to some thoughtful replies, but i am only looking for 0.0% finance and the dealer claims he cant offer me any more discounts as he will have to subsidies my interest? is this how it works on 0.0% which is being offered by the dealer rather than honda many thanks

4th November 2007, 18:14	#15 (permalink)
faz100 Valve Cap Join Date: 4th November 2007 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts	my faith/belief does not allow me to deal with interests in any form, whether it be mortgage, credit cards etc

4th November 2007, 19:17	#18 (permalink)
Korkut Varol Triangular Exhaust Join Date: 31st October 2006 Location: Ankara, Turkey Posts: 457 Thanks: 0 Thanked 0 Times in 0 Posts	In Turkey, the current price of 1.8 i-shift is about £20900. What we are given is close to EX, but no glass roof, no satnav, no HFT. We pay a helluvalot as tax to the government.

5th November 2007, 01:27	#19 (permalink)
theface Valve Cap Join Date: 9th September 2007 Location: cambridge Posts: 13 Thanks: 0 Thanked 0 Times in 0 Posts	i paid £16000 for 1.8 ex (not pre reg) with mats and boot liner included a month ago.(plus pearl paint option) if you look in the motoring magazines list price is about 17250, target is £16000. in the back of these mags you'll find loads of dealers that will match these target prices.

5th November 2007, 11:20	#20 (permalink)
HappyMan Super Moderator Rocketship door handle Join Date: 16th August 2007 Location: Poland Posts: 1,657 Thanks: 9 Thanked 27 Times in 27 Posts	so the dealer is using the potential discount he would offer you to pay the interest on the loan you are to take. I don't want to get into a religious argument or anything like that, but aren't we just playing semantics here. I am not sure of the financial implications but realistically speaking if you take the figures from 'TheFace' then you should be able to get the car for £16000 against £17200 you will pay, so the dealer is using the £1250 difference to fund interest so aren't you paying interest anyway? Again, I don't want to offend you in any way I am simply confused and I apologise now if I have offended you.