Here’s How To Save Big Money On A Honda CR-V In 2024

1. Time Your Purchase Wisely

Timing is crucial when it comes to buying a car. Dealers often offer significant discounts at certain times of the year.

• End of the Month/Quarter: Dealers have sales targets to meet and may be more willing to negotiate at the end of the month or quarter.
• End of the Year: December is typically the best month to buy a car. Dealers are eager to clear out inventory to make room for new models.
• Holiday Sales Events: Look for sales around major holidays like Memorial Day, Independence Day, Labor Day, and Black Friday.

2. Take Advantage of Dealer Incentives and Manufacturer Rebates

Manufacturers and dealers often provide incentives to boost sales. These can include cash rebates, low-interest financing, and lease specials. Check Honda’s official website and local dealer websites for the latest offers. You can also negotiate additional dealer-specific discounts.

3. Consider Certified Pre-Owned (CPO) Models

If you’re open to buying a slightly used vehicle, a Certified Pre-Owned (CPO) Honda CR-V can be an excellent way to save money. CPO vehicles come with a manufacturer-backed warranty, have undergone rigorous inspections, and often include benefits like roadside assistance.

4. Negotiate the Price

Don’t be afraid to negotiate. Do your homework by researching the invoice price of the CR-V, which is what the dealer pays the manufacturer. Use this information to negotiate a fair price. Remember, everything is negotiable, including the price of the vehicle, trade-in value, and additional fees.

5. Shop Around for Financing

Securing financing before you visit the dealership can give you leverage and help you avoid high-interest dealer loans. Compare rates from banks, credit unions, and online lenders. Sometimes, dealerships offer competitive financing rates, so it’s worth exploring all options.

6. Check for Loyalty and Conquest Programs

Manufacturers often offer loyalty bonuses to current customers who buy another vehicle from the same brand. Conversely, conquest programs provide discounts to customers who switch from a competing brand. Check if you qualify for any of these programs to save even more.

7. Use Online Tools and Services

Websites like TrueCar, Edmunds, and Kelley Blue Book provide tools to help you determine a fair price for the Honda CR-V. These platforms also offer price comparison services that show you what others in your area have paid for similar vehicles, giving you a better understanding of what to expect.

8. Be Open to Different Trims and Options

Higher trims and additional options can quickly increase the price of a vehicle. Be flexible with the trim level and optional features you’re willing to consider. Often, mid-level trims offer a good balance of features and cost.

9. Trade-In Your Current Vehicle

If you have a vehicle to trade in, use it as a bargaining chip. Research its trade-in value and be prepared to negotiate this aspect of the deal separately from the purchase price of the CR-V.

10. Consider the Total Cost of Ownership

While the purchase price is important, consider the total cost of ownership, including insurance, maintenance, fuel, and depreciation. The Honda CR-V is known for its reliability and low maintenance costs, but it’s still wise to factor in these expenses.

Without finding discounts, you can expect to pay around $30,100 for a base model Honda CR-V.