How much off MSRP should I aim for on 2020 Accord EX

Hi everyone,

I’m new to this, so any help is greatly appreciated. What percentage off the MSRP should I aim for on a 2020 Honda Accord EX 36 months, 15k miles/year, zero due at signing?

I went to a dealer yesterday and they offered me the aforementioned car with 15k miles, 36 months, zero DAS for $349/month. I asked them today to email me the specific numbers that they used to calculate that deal (MSRP, selling price, RV, MF, taxes/fees, etc.). So now I’m waiting for that email and just wanted to ask you all for your opinions.

Update: I got the numbers back, the calculator matches the dealers monthly payment: LH calc link

Not sure how market is up there but you can ask for a little bit more off selling price maybe a flat 25k. Also there’s 500 loyalty or conquest incentive

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Not sure how it matched with some default values left in place? No way a CT dealer’s doc fee is $85

Yea you’re right, I didn’t edit the doc fees and all that because I didn’t know them. I’ll call them and ask what it is and re-post the link

Just updated it. Thank you for pointing that out.

The dealer fee while not outrageous is a little higher than some other Connecticut dealers charge, I have dealt with one that charges under $400 I forget the exact amount and it is always a downside for those coming from New York where the fee is $75!

It is good because you are getting more than 12% off pre incentive but honestly it is more than I would want to pay for an Accord EX, I was so surprised the MSRP was so high I looked it up (yes it is correct). $500 is not much of an incentive which is why the lease price is high.

If this were last January I would say the deal is high but for the times, given current inventory in the Metro NY area, it is decent. See if they will reduce the dealer fees to under $400. How much more would the EXL be? When I was shopping CRVs (ended up getting something different) last month, I found the difference between the EX and EXL was not very much and it would have been worth it to me to get the EXL but the MF is often different on trims so you would need to check that and not everyone wants leather for various reasons anyway

Got this quote about a month ago in NJ

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Ty for sharing this!

Thank you! I’m going to look into this. I have family in jersey and visit often. I think I might get the car from jersey or NY instead

Is this a reasonable target for Dealer % off MSRP on a Sport/EX Accord? It looks like someone got $4,992 off of a $29,0256 MSRP vehicle, which is ~17.2%. I am assuming that includes any dealer incentives (like the $500 lease cash in a lot of zips). So when I create a “target” deal, using 17.2% off should be my goal?

You need to separate out the dealer discount from the incentives. Incentives change as often as monthly, and with many manufacturers they also vary by region.

Yes, I am sure it includes the incentives in the 17.2% off. Going through Edmunds and looking at all the zips, I have yet to see an incentive that is greater than $500. There is a $500 incentive in my zip code, so it should lineup with OP. So, 17.2% would be a good target (incl. Incentives)?

Did it include loyalty? New grad? There are always incentives other than just the lease cash that one needs to verify aren’t included when looking at other deals that are post-incentive. This is why its always good for people to post their deals with the incentives separated.

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That makes sense. Is 17% off on an Accord without new grad/similar a good target?

Do you know what exact incentives were a part of “dealer discounts”? Like were you loyalty?

I am going to be brutally honest. That’s not a realistic pre-incentive target. What has your research shown?

Best I have seen, other than the 17% which is shown above was in the 13-14% range. That’s why I am so interested in this thread since it shows the most off MSRP I have ever seen on an Accord. I am hoping to get near that since the 2021s are trickling in, thinking that might boost the discounts.

This is a pointless discussion without knowing the actual details on that deal.

No, I do not, sorry. I’ve got no additional incentives, except maybe conquest. After further investigation it turned out that dealer installed options where left out from the quote ))). We settled on $290 with first month & registration at signing. I wasn’t in the market for the Accord, just wanted to see how it’ll turn out.

So the MSRP was +Dealer Installed Options and the Dealer discount included a conquest incentive of $1000:

Assuming that the MSRP adds ~$800.
MSRP= $28,870
Discount (Less Conquest)= $3,992

True % off MSRP= 13.8%

Does that sound about right?