Did I pay too much for my Honda??
 

In 2001 I went in to a Honda dealership and paid (with cash) $15,000 for a new civic LX. Did I pay too much for it? It didn't really have many options actually. It was an automatic with power doors and windows, driver/passenger airbags, tilt, cruise. I kind of got a feeling that I overpaid when the salesman drove the next day to another city 45 min. away to pick it up and drive it back. And he seemed quite happy. LOL Oh well. What do you guys think?

Yup...overpaid! Never pay cash for a new vehicle, bad bad investment!

You've spent six years worrying about this?Is the car still reliable is all that should concern you now.....

LOL, what a joke :usuck

yes, i think you paid too much.When you have cash you should be able to get a substantial amount of savings.As long as you are satisfied with your vehicle, don't worry.That is part of the capitalist society we live in.P.S. With some research you could have found one for about$ 12,500 cash

Well, that was actually about the window price value for that car at the time. So you didn't exactly get ripped off. But you can almost always talk the dealer down from the window price. So you probably could have done better. I disagree with the person that said it was a bad investment, though. It's a car, not an investment! The fact is that you have one of the most reliable cars on the market, and you obviously still have it six years later. You may have overpaid, but you got the right car.

It's a little late to ask after you've already purchased the car don't ya think? Kelly Blue Books shows the retail value of the car to be $11,915.oo for the 4dr and $11,815 for the 2dr LX version. So, it appears you over paid... big time.

In 2001 the Civic LX was a popular car. It was a redesign for the Civic, and the demand for the car was high. Because of the demand, the dealers had no reason to offer discounted prices. If you did not buy the car, someone else would have.You paid what the market value of the vehicle was at the time. Did the dealer make money? Of course they did! Could I have gotten the car for less than you paid? Yes, I could have. Of course I have a good friend who is the sales manager at a local Honda dealer. People are of the impression that paying cash for a vehicle somehow gets you a better price than financing. If you finance a vehicle through the dealer, the dealer actually makes more money than with cash deal. If you finance with a lender other than through the dealership, it is just like a cash deal to the dealer. If they get the money from your pocket, or the bank's pocket, there is no difference to them.The only dealers that may discount for cash would be the buy-here-pay-here lots. They hold the loan themselves, and sometimes will make a better deal if they get the money up front!!You got a nice car, at a fair price. Quit worring about things that happened 6 years ago!!

Cash is the best and cheapest way to buy a vehicle, regardless of what anyone may say. However, cash is only good in the hands of a wise investor, which you are not. You got ripped off, big time. Always do research before buying a car. Use sites like Autotrader or Edmunds or KBB before buying, so you'll know how much its worth. Don't let the dealers take advantage of you.But continue to pay cash for cars...that way you never owe anything to anyone.

I do agree on your comment - buying a car is never an investment--when you pay cash you should have a lot of bargaining power for the situation but the car dealers are great actors to suck in your dollars, anyway you got a realiable car in your hand--just enjoy it for many more years l>

just a thought
 

Whenever we buy a car its always wise to shop around and have a firm decision that if they won't agree with your reasonable asking price go to another dealership, when I bought an oddyssey 2006 i did this exactly and the dealer accepted my proposal and got me as his customer & settled the purchase that same day. It seems to me most car dealers are aware if you are a determined buyer and they will respond to you.