By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our
Privacy Statement, and you agree that your use of the website is subject to our
Visitor Agreement.
Comments
Most salesman add little if any value to a transaction ....
Like when you call up asking for and Accord EX-V6 and he asks if you want leather or not......
Most customers know the product better than the salesman and have to waste time talking to someone who almost NEVER has discretion to write a deal without going to a manager.
And then you get Managers who try to make it seem as if you are getting a good deal by paying Invoice..... It makes me laugh every time. They say they are losing money when they go below invoice.....haha
Remember to offer:
Invoice- Dealer Cash - 3% of MSRP
and don't go up much from there.... Keep the money in your pocket.... don't give it away to these jokers...
Any service dept who turns away customers b/c the unit wasn't purchased there is only hurting itself. It would be bad business, plain and simple.
Bottom line: DON'T buy somewhere just because you want to service your car there.
invoice is 31180(for a Pilot)
msrp is 35000
cash from manufacterer to dealer is 2000
my offer would be: 31180 - 2000 = 29180.
then substract %3 of 35000 from the 29180
my offer would be $28130, correct? why do i get the feeling the dealer would hang up on me? sounds great but is that a realistic offer? thanks for the insight.
________________________________________________________
But YES it is VERY realistic ! That is the dealers true cost. And if he needs to move a unit he will sell it to you.
I got my ODY at the end of may for
INV - DC - 3% - 500
It's all about catching the right dealer at the right time.
Keep in mind that a dealers future allocation is based on him turning over his current inventory in a timely manner
So sometimes UNITS count more than GROSS.
The basic formula I gave should be very attainable with a minimal amount of effort. I did even better($500) on the last day of the month.
If you feel bad about offering to take a unit off the dealers hands at his true cost add $100 to it (the formula) if you would like
But I know I didn't feel bad about him losing $500 on my deal....
Reading here, I was ready for some cash above invoice for this region...maybe older posts, but I felt this was a very fair deal. I did not haggle holdback, destination or volume profits like some feel you could/should. They also researched quickly and found they could get my desired silver in 1-2 days.
It all boiled down to my trade-in. It had a visible dent requiring some 500-1000 in repair. They treated me very fairly on the trade despite warning that trade-in would not be too high due to price they are offering. We haggled a little and I walked away very satisfied. Had my car the next day (I agreed to pay $199 pickup fee from other dealer, they threw in splash guards with trade).
Dealt with Internet Mgr and Odyssey "specialist". Very courteous, professional and respectful. No gimmicks at all. F&I was also respectful.
I am traveling in 8 days and was expecting hell calling dealers, etc. to get the car I wanted...To close in less than 4 hours and get car next day with my first attempt and less than 20 miles driving was incredible. I still cannot believe how pleasant the experience was...
Long post but figured some would like the details.
And thanked me more than once.
You may include the dealership name, city and state in your post. Please do not post names of salespeople, telephone numbers, email addresses, or other contact information.
regards,
kyfdx
Host-Prices Paid Forums
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Cross Bars, Cargo Tray, Black All Season Mats, Cargo Mats, Pinstripe, Mudguards, and Wheel Locks. The last three accesories are added on all of the cars by the dealer.
They told me the towing package is $1,150, which is not included above and I'm not sure I want.
Sound like a good deal???
Wondering, is there advantage or disadvantage to target July 4th weekend? Or best to wait for July month-end? Do dealers have an incentive to move inventory over July 4th? (start of weekend or end?).
Oh and any experiences locally with below Costco/Invoice deals mucho appreciated!
Thanks in advance.
- Stoop
I got slate green with olice interior. He got slate green with gray interior.
The OTD price was 28914(Doc fee 150 including title)
We are loving the van
Jayad
I'd be more than happy to make $125 for 1 hours time.
wouldn't you???
The people on here sure do alot of complaining about salespeople. Why not find a salesperson you like and who is knowledgeable and let them make a little profit? I can assure you that you would be happier in the long run. It is a much better feeling to know that when you come back someone will remember you and be happy to take care of things for you.
And just to clarify, the typical minimum commission at a dealer is 50-100 dollars and not 125.00 .
But no joke, this was his (the salesman's) 31st unit of the month, and he was still only 2nd on the sales board....
High volume shops can afford to lose gross at times... this was one of them.
I also agree with you that SOME salesman know their product, are professional, and make the buying experience enjoyable for the customer....
Many of them are at the Mom & Pop Honda dealers and may only do 10 - 12 units/month so they need the gross.
And FOR NOW (but maybe not forever) there is a place in the world for these Mom & Pops. Some people will pay more (in some cases much more) to do business with their local dealer. That is their choice and I have no problem with it (it is their money after all).
My main overall point is that, with the advent of the internet and message boards like this, the current business model of dealerships is a dinosaur.
Many people could just as easily go to a test drive center, select the car they want, and order it on a Honda Kiosk. Honda could sell more units by selling them for less.
By cutting out GSM's that make $500k/year the system becomes more efficient.
Just MHO
I worked with Internet sales persons, they never pressured me to accept the price or options, they were trying to help me out to get the good deal from the Manager, thats the part I liked and made my decision to buy from them
BTW, I bought EX-L with protective package(door guards, Pinestip + Floor mats) for $27,300 + TTL + $800 for (6 yrs, 80K bumper to bumper warranty)
I would certainly recommend Rusty Wallis for people living in DFW Metroplex.
Shaik Dawood
The pricing negotiations were relatively painless - I had a great quote from my credit union's car store (invoice - $500). Armed with that as a baseline quote for dealers to beat, along with people's pricing experiences from odyclub and edmunds forums, I just called up 5 dealers' internet sales departments for this model with our 2 top colors (RRP or MBM). Marin offered their price without any hesitation after I asked for $1000 off invoice...
The buying experience at Marin was excellent - test drive, paperwork, vehicle prep and orientation took about 2.5 hours.
My wife is very happy :-)
I had to struggle to get the right value ($19k) for my tradin (2004 Accord V6 EXL with 29K and under warranty till Dec). The were offering 17.5k. I after going back and forth we were able to agree on 19000.
MSRP for the vehicle (including destination) $31,345.00
Price offered $28,268.00
Trading in for my Accord $19,000.00
(with $17460.04 remaining amount the down
payment will come out to be $1,553.96
with Money factor 0.00280 and residual of 59% ($18,453)
my monthly payment comes out to be $368.29 + tax ($405.45 including tax)
Let me know how I did.
I love it.
In the Northeast you got robbed.
In the Northwest you did ok.
But the bottom line is that it would have ruined the wonderful dealer experience that I had if I was going to be an [non-permissible content removed] over $200-300 on a near $30K vehicle.. In addition, I know from experience, that it pays to buy a vehicle if you plan on getting it serviced at that dealer. You have more leverage than you think as a returning customer and the dealer is much more likely to stick his neck out for you if he knows you will be back in a few years to buy another vehicle.
Folks, you know what the invoice price is and the types of deals people are getting. While it is possible for a dealer to sell a vehicle for invoice -manufacuturer cash to dealer -holdback, this is not a typical deal even for a high volume Honda store. Yes, some dealers may be trying to make an end of month sale to hit certain targets, but not everyone is going to get this deal.
I do not work for Honda or any other car manufacturer. I am not even in the car business in any way. If somebody pays invoice price (even in the Northeast) and has a great dealer experience and plans on bringing their car to that dealer for service IMHO they got a great deal. While I feel that most of the prices listed on these boards are 100% accurate, I have no doubt in my mind that some folks "exaggerate" a little.
Bottom line, the information is out there. If you are an informed buyer and had a good experience you should not worry about how your deal compares to others. Go enjoy your great new Honda Odyssey
Most dealerships absorption rates are simply not that high , especially an honest dealership that doesn't use all the tricks ( dealer prep charge, accessories on every vehicle, documentation fees, etc.)
Also, it would seem better to seek out a high volume dealership at the end of the month to try and get the best price possible. Just curious we should work together or separate.
Anybody know the MFG's invoice price on the EXL/DVD?
I'd say you for a great deal (assuming they did not get you with a trade-in or extra accessories).
But in the northeast a couple bucks over triple net is available ALL DAY LONG.
Call the internet Dept. at DCH Academy Honda on RT1.
They will give you the van at triple net (INV - DC -HB), but you have to take the pro pack (splash guards, trunk tray and something else) for 300.
So you will only pay 300 over triple net......
And you get the PRO Pack
And that is with ZERO negotiations.......
Keep in mind that DCH is one of the dealer groups that floorplans their own cars, so they keep HB for themselves on every unit. They are backed by an Asian Conglomerate (which has a very low cost of capital).
IMO if you bought a 2006 ODY at INV in Sept 2005, then you did ok. But at this point in the model year you shouldn't have to pay that much.
And for all you guys who really think ODY supply is tight please answer this question:
- Why did Honda feel the need to support the units (with the DC) ?
Invoice($27,708)+ Destination ($550) = $28258 - Dealer cash ($500) = 27758 - (Holdback of 3% - $833)= $26,925.
Disregarding any impact of supply/demand due to certain regions of the country, $27,000 would be a good target price for an EXL without any accessories for a potential buyer. Is this a fair statement/price to target for an EXL?
Holdback = 3 % of MSRP
It is over 900 on an ody EX-L
But I agree with your target price of $27,000 as being a good one to shoot for. It even pays for the gas tank the dealer has to fill.
Assuming you are paying cash I would make things even simpler for yourself.
Take
1. 26,800 (as a base selling price)
2. add your state sales tax
3. add MV in your area (about $350 in NJ)
4. add DOC (figure $200 to be conservative)
In NJ this comes out to be approx $28,900
It isn't unreasonable to think that you can get this price OTD(out the door) in NJ.
Your OTD target will vary based on items 2 & 3 & possibly 4
This way the dealer can't get extra fees by you. When you negotiate OTD pricing it includes EVERYTHING.
NOTHING EXTRA FOR Prep, Dest, Doc, Misc Fees.... etc etc
If negotiating over the phone or net ask him to email you an itemized quote detailing all fees taxes etc (With a VIN # on it). And tell him that as soon as you get the email you will be happy to give him a credit card deposit over the phone. If they are serious about their # they will have no problem with this.
If financing it is always better to have outside financing lined up ahead of time (Credit Union, Capital One etc) and then give the dealership a chance to match or beat your best rate. If you go in blind to the F&I office (not knowing what rate you really qualify for) they will bump you a couple of points and pocket the spread.
and try to help buyers out as much as I can.
But I don't know everything.
From your posts I suspect that you spent some time in the business, or at least knew someone who did. I'd be interested to hear where you are coming from ... If you care to share of course.
Hasman.
Dealer Invoice Price = $29,796
Dealer Holdback (Subtract)= ( $924)
Dealer $$ from Honda = (Subtract)= (500)
Total = 28,372
However many people on here are beating that #. Why.. end of month incentives that Honda pays $$'s to dealers for volume.
Sorry, but I went back and read Jenkinsisme's post and all I saw was him trying to explain what holdback is. You can look it up here at Edmunds or Google, but his explanation looks right to me.
It is obvious that some people are paying well below invoice (in other words getting the current dealer cash incentive and some or most of the holdback). Nobody is denying that. However, there is a lot more to buying a car than just the cost of the vehicle itself:
- If there is a trade-in dealers can and will make the cost of the new vehicle look very low and will make money back on the trade-in.
- Many dealers will charge processing and other dealer fees which allow them to have a higher profit margin. In Northern VA most dealers charge $200-300 and many will not negotiate this. Believe me, I have tried. I even walked away on two occasions and the dealer never called me back..
- All Honda dealers in my area add standard accessory packages to every vehicle they sell. You can usually negotiate this, but some folks do not see these fees until they are sitting at the finance table.
- Interest rate. Some folks may be getting their vehicle at a great price but may be paying a higher interest rate if they did not do their homework. It is no secret that dealers make a ton of money this way.
It is very possible for someone, who is willing to negotiate all the above very competitively, to buy a vehicle at the numbers that S65 is throwing around. But, that is not the TYPICAL deal folks get on an Odyssey and it really varies based on your location, the dealership (small vs. high volume), how many dealers are in your area that are competing for your business, how much stock the dealer has, what color/option you are looking for, what time of the month it is, etc. There are many people that will never get the deal at invoice, -holdback, -dealer incentive, -dealer fees, etc. This is just not realistic for everybody..