Honda Accord Hybrid EX-L- great deal or not?

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protagonist
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Honda Accord Hybrid EX-L- great deal or not?

Post by protagonist » Tue Nov 14, 2017 5:29 pm

The local Honda dealer is offering a $7000 incentive on a new (leftover) 2017 Hybrid Accord EX-L (part dealer and part Honda incentive). He has one leftover on the lot .
MSRP $32905
"Total Vehicle Price" $33790 (incl. destination charge)

With the incentive that would bring the price down to $26790. plus their stupid "Documentation fee" of (I forget) $400 or $500 and tax and the state-mandated registration fee which they do not charge for.

The salesperson told me that there would be no other hidden fees. 0.9% financing is also available.

Kelley Blue Book states "The Fair Market Range for this car in your area is $29,329 - $31,734." (excluding tax and registration). They quote an invoice price of $30977. https://www.kbb.com/honda/accord-hybrid ... n&options=

I have yet to start checking other dealers' out-the-door pricing by email and pitting them against each other but I intend to do so. This is just what the guy told me "off-the-cuff" when I test drove the vehicle.

Is this a fantastic price for this car? Do I need to jump on it? Or is it just a good sales pitch?

I was going to wait until the end of the month to comparative shop by email (to get the best price), but is the price so good that I should not wait and let it get away- just do comparative shopping by email now and buy within the week? I ask because I am always skeptical of what dealers tell me.

They are also offering 0.9% financing for 36 months. I would normally just pay cash but given that my online bank is paying I think about 1.35% interest, that also seems hard to pass up.

Also, if anybody here has this car, can you tell me both what you paid and what your impressions are of the car?

Thanks in advance.

rgs92
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by rgs92 » Tue Nov 14, 2017 5:41 pm

Well, personally I would never buy a hybrid since oil (gasoline) is cheap and in over-supply (the shale boom had a lot to do with this).
And hybrid cars are more complex and could easily have higher repair costs over the long haul.
That's probably why I think the price is low, as there is a demand problem with hybrids.
So I would look for another deal with a non-hybrid model.

I saw on Bloomberg that the U.S. is the leading oil producer.

And I also have been reading that hybrids are very dangerous in collisions because of poisonous fires and that local fire departments are not familiar with how to deal with them.

By the way, make sure you sit in it and test drive it. There are several threads here mentioning that it has drivers seat comfort problems. One poster here is having serious problems with one just purchased and is considering selling it.

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sunny_socal
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by sunny_socal » Tue Nov 14, 2017 5:56 pm

I think that's a great deal. I'd much rather have the Accord than a Prius 8-)

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dm200
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by dm200 » Tue Nov 14, 2017 5:59 pm

No experience myself, but the actual record of hybrids over the years is good.

protagonist
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by protagonist » Tue Nov 14, 2017 6:04 pm

rgs92 wrote:
Tue Nov 14, 2017 5:41 pm
Well, personally I would never buy a hybrid since oil (gasoline) is cheap and in over-supply (the shale boom had a lot to do with this).
And hybrid cars are more complex and could easily have higher repair costs over the long haul.
That's probably why I think the price is low, as there is a demand problem with hybrids.
So I would look for another deal with a non-hybrid model.

I saw on Bloomberg that the U.S. is the leading oil producer.

And I also have been reading that hybrids are very dangerous in collisions because of poisonous fires and that local fire departments are not familiar with how to deal with them.

By the way, make sure you sit in it and test drive it. There are several threads here mentioning that it has drivers seat comfort problems. One poster here is having serious problems with one just purchased and is considering selling it.
I agree that I would not normally go for a hybrid, but the price puts this car in the same ballpark as a non-hybrid....and I keep my cars for a long time...who knows where the price of gas will be in 5 years?
As for reliability, well....at least it is a Honda.
I have also read posts here about comfort issues with the Accord, but on my test drive of the Accord, as well as the Civic, I didn't have those issues. They felt great to me....but maybe that is because I am used to driving a 2006 Element the past 12 years.

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dm200
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by dm200 » Tue Nov 14, 2017 6:08 pm

protagonist wrote:
Tue Nov 14, 2017 6:04 pm
rgs92 wrote:
Tue Nov 14, 2017 5:41 pm
Well, personally I would never buy a hybrid since oil (gasoline) is cheap and in over-supply (the shale boom had a lot to do with this).
And hybrid cars are more complex and could easily have higher repair costs over the long haul.
That's probably why I think the price is low, as there is a demand problem with hybrids.
So I would look for another deal with a non-hybrid model.
I saw on Bloomberg that the U.S. is the leading oil producer.
And I also have been reading that hybrids are very dangerous in collisions because of poisonous fires and that local fire departments are not familiar with how to deal with them.
By the way, make sure you sit in it and test drive it. There are several threads here mentioning that it has drivers seat comfort problems. One poster here is having serious problems with one just purchased and is considering selling it.
I agree that I would not normally go for a hybrid, but the price puts this car in the same ballpark as a non-hybrid....and I keep my cars for a long time...who knows where the price of gas will be in 5 years?
As for reliability, well....at least it is a Honda.
I have also read posts here about comfort issues with the Accord, but on my test drive of the Accord, as well as the Civic, I didn't have those issues. They felt great to me....but maybe that is because I am used to driving a 2006 Element the past 12 years.
I would think that the more miles you drive annually the more you might lean towards a hybrid as well.

I have also noticed that there is a "prestige" factor favoring hybrids - among those who want to be perceived as friendly to the environment (whether they are or not). I know a lot of folks that think like that - "logic" often takes a distant second place to "perception" and "image".

kjvmartin
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by kjvmartin » Tue Nov 14, 2017 6:20 pm

If you already wanted an Accord, that seems like a pretty good discount to get one new

kjvm

dbr
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by dbr » Tue Nov 14, 2017 6:20 pm

I can't comment on whether or not you want that make/model compared to a different one, but it does seem when a deal pops up you should take it. Someone else could buy that car tomorrow.

I once made a mistake like that looking at a hail damaged car that was thousands off. I didn't buy it that day and it was gone the next day and it was just the model I wanted planning to drive it for years to come. My son got a deal like that on a car he still owns.

protagonist
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by protagonist » Tue Nov 14, 2017 9:46 pm

kjvmartin wrote:
Tue Nov 14, 2017 6:20 pm
If you already wanted an Accord, that seems like a pretty good discount to get one new

kjvm
I'm on the fence about what I want. When I bought my Element it was the best car for my needs...I knew that right away. Now I have test driven several cars and they each have their advantages and disadvantages.

I think the Accord Hybrid at the price quoted offers the most bang for the buck and is loaded with safety, comfort and entertainment features. It also can go a whopping 750 miles on a tank of gas. That said, there are downsides (such as parking in NYC with such a large vehicle- I do that about once every two weeks- and lack of a large cargo space since the rear seats do not fold down).

I might be able to get a non-hybrid version for about $2000 less in the same trim level, which would be slightly more than a Civic Hatchback in the same trim level. The Civic Hatchback would be considerably less luxurious but would solve the size and cargo space issues.

ERISA Stone
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by ERISA Stone » Wed Nov 15, 2017 7:53 am

In looking at Truecar, your deal isn't unheard of, but it seems to be a really good one. Hard to compare apple/apples though without knowing all of the specs.

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tennisplyr
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by tennisplyr » Wed Nov 15, 2017 8:00 am

I have a regular 2016 Accord EX that gets close to 40 mpg highway for way less money. I don't see the need for a hybrid.
Those who move forward with a happy spirit will find that things always work out.

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lthenderson
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by lthenderson » Wed Nov 15, 2017 10:23 am

protagonist wrote:
Tue Nov 14, 2017 5:29 pm
I have yet to start checking other dealers' out-the-door pricing by email and pitting them against each other but I intend to do so.
Good luck, the chances of any other dealers around that have 2017 Honda Hybrid Accord EX-L on the lot to give you a competitive bid are slim to none. Most likely they will see the same car you test drove in the computer system and shoot you a similar quote just to get you on their lot before they try and sell you on a different vehicle sitting in their lot.

If it were me and that was the car I wanted, I would stop into the dealership with checkbook in hand and offer to write them a check for $1000 less than the price you were quoted. Sometimes that works and the rest of the time they will come back for $500 less than what they quoted you if you write them the check right then.

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by Slacker » Wed Nov 15, 2017 11:17 am

I would guess the incentive is due to the new 2018 Accord which is redesigned (and many reviews peg it as better than the 2018 Camry).

Advantage of a hybrid is really seen in city driving, but tends to have better highway mileage too due to a lower power gas engine supplemented by the electric motors.

I personally like driving a hybrid because it seem so wasteful to turn your car's kinetic energy into heat and dust (from the brake pads) rather than recapturing that energy. Also wasteful for an engine to just sit at a light running waiting for the light to turn green.

protagonist
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by protagonist » Wed Nov 15, 2017 11:59 am

I'm actually rethinking and may opt for a Civic EX Hatchback instead.

I doubt that I can get nearly as good a deal on the Civic Hatchback, but I like the idea of more cargo space and ease of city parking.

I'm suffering from analysis paralysis.

rgs92
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by rgs92 » Wed Nov 15, 2017 12:02 pm

OK, it sounds like you did good research and you like the car, so it sounds like a go.
The dealer usually likes it when you finance through them, so I would offer to do that if they toss a few dollars back; say you are considering financing elsewhere or paying cash and see what they say. They may give you a very low rate instead, which is good anyway.

The dealers seem to make a lot of their profits from financing cars. They are more like banks these days. It's a big deal to them. You can always pay it back after the loan closes (or refinance the car through someone like PenFed or Ally; they send me attractive offers on this).

Texanbybirth
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by Texanbybirth » Wed Nov 15, 2017 12:17 pm

For my zip code, that price sounds like ball park for market value of the Hybrid EX-L. True Car link

I definitely wouldn't call this deal a "fantastic price", but I don't think you're getting fleeced. Since this is all "off the cuff", I'd be wary of car dealership tricks to artificially inflate the price when you get in the door. If you already wanted this car there's no reason to ignore this deal, but don't jump through hoops for it.

We pay cash for cars. My bank also offers a savings rate higher than the interest rate on the loan, but we are allergic to car payments and I sleep much better at night not thinking about one. We have two brand new vehicles in our garage, and we're saving for the next one in 5-10 years. We do, however, have a separately fully-funded emergency fund and funds set aside for other expenses as they pop up. I wouldn't recommend paying cash if that's all the cash you have on hand, of course. We also only invest in a TDF for retirement even though we could get a slightly better ER by investing in the underlying funds. I prefer simplicity when I can get it.

P.s. - I chuckled at your comment about "parking...such a large vehicle." :D

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by mouses » Wed Nov 15, 2017 12:19 pm

dm200 wrote:
Tue Nov 14, 2017 5:59 pm
No experience myself, but the actual record of hybrids over the years is good.
My nieces have each had a Prius for several years and love them.

Plus every little bit of green makes the future less horrible looking for the offspring.

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by sunny_socal » Wed Nov 15, 2017 1:26 pm

Texanbybirth wrote:
Wed Nov 15, 2017 12:17 pm
For my zip code, that price sounds like ball park for market value of the Hybrid EX-L. True Car link

I definitely wouldn't call this deal a "fantastic price", but I don't think you're getting fleeced. Since this is all "off the cuff", I'd be wary of car dealership tricks to artificially inflate the price when you get in the door. If you already wanted this car there's no reason to ignore this deal, but don't jump through hoops for it.

We pay cash for cars. My bank also offers a savings rate higher than the interest rate on the loan, but we are allergic to car payments and I sleep much better at night not thinking about one. We have two brand new vehicles in our garage, and we're saving for the next one in 5-10 years. We do, however, have a separately fully-funded emergency fund and funds set aside for other expenses as they pop up. I wouldn't recommend paying cash if that's all the cash you have on hand, of course. We also only invest in a TDF for retirement even though we could get a slightly better ER by investing in the underlying funds. I prefer simplicity when I can get it.

P.s. - I chuckled at your comment about "parking...such a large vehicle." :D
For my zip code, OP is getting an offer for $3000 less than Truecar.

When I was looking at an Accord Hybrid a few years ago the dealer wouldn't budge from MSRP!

I think it's one of the few Hybrid cars I would want - for the simple reason that it's not ugly (owned a Prius once upon a time and it was fine but the new ones look like insects.)

bubbadog
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by bubbadog » Wed Nov 15, 2017 1:40 pm

Three things are working in your favor for price.

1) Car sales are down compared with SUVs. (everyone seems to want an SUV these days)

2) A new generation Honda Accord just arrived. You would be buying the previous generation Accord.

3) Gas is cheap and not a huge demand for hybrids right now.

Good scenario if this car meets your needs.

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by emoore » Wed Nov 15, 2017 1:48 pm

mouses wrote:
Wed Nov 15, 2017 12:19 pm
dm200 wrote:
Tue Nov 14, 2017 5:59 pm
No experience myself, but the actual record of hybrids over the years is good.
My nieces have each had a Prius for several years and love them.

Plus every little bit of green makes the future less horrible looking for the offspring.
+1. I'm happy to see many more hybrid and BEV options in the last few years. Hopefully in 5 years there will be many more.

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jabberwockOG
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by jabberwockOG » Wed Nov 15, 2017 1:52 pm

Buying a 2017 Accord you are likely to take a very large depreciation hit based on the new 2018 Accord coming out and being reviewed as a much improved car over the 2017 Accord.

Given the reviews on the 2018 if I had to have an Accord I'd wait a few months for buying frenzy to die down and get the 2018 with regualr gas engine.

In general the added mpg provided by hybrids gets you to breakeven on the additional purchase price only if you drive well over 100k miles. I personally would not touch a hybrid yet because regular gas engine new car models are getting really good mpg and because I do not think LI battery packs are safe yet in many crash situations.

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by GottaRun » Wed Nov 15, 2017 1:58 pm

750 miles on a tank? sign me up.

hard to go wrong with a Honda, Toyota or Nissan.

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by hariom » Wed Nov 15, 2017 2:07 pm


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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by boglefannyc » Wed Nov 15, 2017 2:26 pm

protagonist wrote:
Wed Nov 15, 2017 11:59 am
I'm actually rethinking and may opt for a Civic EX Hatchback instead.

I doubt that I can get nearly as good a deal on the Civic Hatchback, but I like the idea of more cargo space and ease of city parking.

I'm suffering from analysis paralysis.
I would check on the price of insurance for the Civic before buying it. The Civic was higher to insure when I had one.

protagonist
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by protagonist » Wed Nov 15, 2017 10:30 pm

I was excited a day or two ago and ready to jump at the deal.

But I am having reservations. Though the Accord Hybrid is definitely a nicer car than a Civic Hatchback in similar trim (and roughly $4500 more expensive than the 2018 Civic Hatchback despite the 2017 Accord Hybrid being a great deal), the conventional trunk and vehicle size are an issue for me. I have an Element- the Accord is about 2 feet longer than my Element and has much less cargo space. As one who parks on the street in NYC every other week and leaves my car from Friday until Tuesday , I believe that 2 feet may make a significant difference in how many parking spots are available to me. The Civic is about 9 inches longer than the Element. So from a practical standpoint, though the Civic Hatch sells at close to fair market price everywhere and the Accord Hybrid is a bargain and way more car for the money, the Civic might work out better for me.

I do love the 750 mile range of the Accord hybrid (supposedly the largest of any vehicle on the market)- that is a big selling point for me- but as far as saving money on gas, the difference between 50 mpg and 40 mpg (rough highway driving estimates for Accord hybrid vs Civic) is not very significant. 50 gallons per 10,000 miles. The Accord Hybrid would also likely be more costly to insure and the excise taxes in MA (based on MSRP) would be higher, so I doubt the extra gas mileage would translate into savings.

I'm still thinking this through. Perhaps the Accord will be gone by the time I sort it out, and the decision will be made for me.

stereophonics
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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by stereophonics » Wed Nov 15, 2017 11:37 pm

My wife and I bought this exact car almost a year ago for around $27000 all in. I think we got a very good price on the car (my wife is an extraordinarily good negotiator). So I think the price you were quoted was good, but not amazing considering 2018 models are now available.

She’s the primary driver and is very happy with the car. I enjoy driving it when I get the chance. The car is not particularly peppy, but it has a smooth ride and handles well. We’ve had no problems with the car. While I agree that on pure economics, the hybrid is not a good deal, I feel that the hybrid engine is superior to a conventional combustion one. It is very responsive in stop-and-go traffic; it is much quieter; and it delivers more horsepower (since both engines can kick in).

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Re: Honda Accord Hybrid EX-L- great deal or not?

Post by tennisplyr » Thu Nov 16, 2017 7:50 am

protagonist wrote:
Wed Nov 15, 2017 11:59 am
I'm actually rethinking and may opt for a Civic EX Hatchback instead.

I doubt that I can get nearly as good a deal on the Civic Hatchback, but I like the idea of more cargo space and ease of city parking.

I'm suffering from analysis paralysis.

Just bought the '17 Hatch in silver and love it!!!
Those who move forward with a happy spirit will find that things always work out.

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