Car Buying Guide
Navigate Your New Car Purchase in Milwaukee with Confidence
Ready to drive the streets of Milwaukee in a Honda? Our dedicated car buying guide is here to help you make an informed decision every step of the way. Whether you're comparing new versus used models, exploring the most reliable trims, or understanding your financing and insurance options, we’ve got you covered.
Should you buy a new, certified pre-owned, or used car?
New Cars
Price Factor
Prices can evoke a sticker shock
Finance Factor
Lowest interest rates but greatest depreciation
Reliability
Highest owner satisfaction and reliability
Pros and Cons
You can get full bumper to bumper warranty and the latest safety features but it will have higher insurance and taxes
Certified Pre-Owned
Price Factor
Price premium over buying a regular used car
Finance Factor
Elevated used-car interest rates
Reliability
Higher satisfaction and reliability than a regular used car
Pros and Cons
You will save money over buying new. It will be fully inspected, refurbished, and warrantied, but the selection can be limited and it is still a used car
Used Cars
Price Factor
Greatest savings
Finance Factor
Higher loan interest rates
Reliability
Risk that the car is misrepresented. Best years are behind it.
Pros and Cons
There is a massive selection, but you may have minimal warranty.
How can you purchase your new car at Honda City?
You can purchase a car with cash, finance or lease the car, or use a credit card with your purchase up to $2500.
Understanding Car Buying Lingo
Here is a glossary of common finance and lease terms you'll encounter in a dealership’s finance office.
MSRP
The manufacturer's suggested retail price is the price automakers recommend dealers charge for a new car. It is printed on the window sticker and serves as the starting point for negotiation.
APR
The Annual Percentage Rate is the yearly cost of borrowing money to finance a vehicle, shown as a percentage. This includes interest and lender fees, and it may include broker fees to the dealership if the loan is arranged by them.
Down payment
This is money put down up front to reduce the balance that will be financed. For leases, this is often referred to as the cap cost reduction.
Lease
Lessees pay to use a car for a set period, often with lower monthly payments than a traditional purchase, but the vehicle must be returned (or purchased) at the end.
Residual value
This is the vehicle’s projected value at the end of a lease. The lease cost is based on the difference between the MSRP, or negotiated price, and the residual value.
Trade-in value
This is how much the dealership offers for your current vehicle when using it to buy or lease a car. Check your trade-in value.
Incentives and rebates
Automakers and dealerships can offer various enticements to motivate buyers, such as discounted financing, cash rebates, and special programs for college grads or military veterans.
Invoice price
This represents what the dealer pays the manufacturer for a vehicle—in theory. But it doesn’t tell the full story. Buyers should focus instead on the average transaction price, which reflects what people paid for the car.
Invoice price
This represents what the dealer pays the manufacturer for a vehicle—in theory. But it doesn’t tell the full story. Buyers should focus instead on the average transaction price, which reflects what people paid for the car.
GAP insurance
This protection covers the difference between what you owe on a loan or lease and the car’s value if it’s totaled or stolen.