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I see that you got your 2008 EX-L(DVD and Navi) for $ 31,534 OTD from a northern CA dealer in Dec 2008.Could you please let me know the name and location of this dealership.I am planning to buy a 2009 EX-L(DVD and Navi).I have an OTD quote of around 34,000 right now from multiple dealers in bay area.But I am looking for a better deal.What do you think is the best deal I can get now ?
Thanks
#2298 of 3062 Re: Honda Accord buyout - can I offer less if I offer cash? [hondakate] by dwynne Mar 28, 2008 (3:27 pm) Save | Reply
Replying to: hondakate (Mar 28, 2008 11:59 am)
Sadly almost no lease bank will negotiate lease buyout prices any more. The reason? They almost always take "Residual insurance" on the cars they lease - much like GAP coverage protects you if your car is totalled or stolen the residual insurance "guarantees" they will get their residual back on the car at lease end. The caveat is that the lease car has be turned in and sold at open auction. So if they offered it to you for $1,000 under buy out they would lose $1,000. Easier for them to just get you to turn it in and let it go to auction, then no matter what it brings they get full value.
Some captive lease banks don't use this insurance, but they also don't negotiate buy out prices. They may offer the cars to the turn in dealer for the buy out price or maybe a discount, but often they have private (their dealers only) auctions of the lease turn ins to give their loyal dealers first crack at the lease turn ins.
In any case, I would doubt you have any way to get a better price than buyout. For sure when they find out the condition and miles.
The only way it might happen is for you to wait until they ask if you want to buy it (if they ever do). If you act interested at all or contact the lease bank, there is about no chance of a discount. There may be none anyway, but it would be better to wait for them.
If it is an AHFC lease you can actually mail the payoff to them directly using a mileage statement on their web page. They send you the title and you go down and pay the sales tax and get it in your name later. Any Honda dealer (like the one that leased you the car) and do this for you, but they may or may not charge a fee for it. I have been told if the Honda dealer does it for you AHFC will knock $500 off the buy out price, so most will do this for no extra fee (and pocket the $500). Maybe you could find an honest / nice one that would let you buy it out for $500 under and no fee, but I would doubt it.
In most cases the trade value is less than the buyout so folks are justified in saying to the bank "If you drop the price I will buy the car". In your case, there is no justification for them to drop the price (even if they would think about it) since as you say, trade in value exceeds your buy out price.
Dennis
Well, I have been told if I dont forward this text message to ten people I'll never find my true love and have ten years of bad luck.
Just because it's posted on some fourm, does not make it a true statement. :confuse:
I purchased it through NW Honda and was very happy with the assistance. Not high pressure but helpful.
If you want details on who i used let me know.
I bought 2009 Honda Odyssey EXL with DVD and NAVI on Jan 4 from Larryhopkins Honda in Sunnyvale for 32,050, let me know if you need additional details. good luck
I presume that Larry Hopkins 32050 was not out of the door price. Please confirm.
I am offered a 32600 by an other bay area dealer for EX-L with DVD, but 0% APR this weekend only. Not sure how long the duration of the APR is.
29600 including destination +TTL
Right now, my price is slightly lower but even if I marked up to $29600 that would not be enough to buy down a rate to ZERO percent.
Your dealer, if all holds true and you get the car for $29600.00 and zero percent, is taking a huge net loss to sell you a car.
Thanks for the info. Is 32,050 your OTD price or the price before TTL etc.If so,could you please let me know how much you paid for this vehicle out the door?
Thanks
Sudha
I think 32,600(OTD) for 2009 Odyssey EXL(DVD and Navi) in CA is an awesome and unbelievable deal.I am also looking for the same model and the best OTD quote I could get is $34,000.Could you please let me know the name and location of this dealership that is offering you this price? Any info.is greatly appreciated.
Thanks
The zero percentage rate, as someone else said is artificial.
In order to do that the dealer would have to "buy down" the rate and doing that would cost him thousands of dollars.
And the 2250.00 isn't a "rebate". This is incentive dollars that belong to the dealer. If the dealer chooses to give a shopper part or all of it, that's up to them.
i was really after the accessories i mentioned, so my total quote with them installed was $35K (NOT including fees, tax, lic, etc).
if you've got the time, keep pecking away and wait for the lowest bid. President's Day sale is now and i think Honda may offer 2.9% on all models.
good luck!
SHOULD I TAKE IT?
No other dealer in my area will touch that price.
Not sure about mud guards. MSRP is 36k according to their website.
One more plus. The Economic Stimulus package provides a tax deduction for the sales tax paid on a new vehicle. It appears to me that purchases made from Nov 2008 through Dec 2009 qualify.
1st quote:
2009 EX Odyssey
Van: $24,866.00
TTL (3% sales tax; title and lisc included)
OTD price: $26,136
this includes the all weather mats (free) , wheel locks and mud guards (they put on all their hondas and are in price)...
OR
2nd Quote:
Van ... same price.. SAME OTD $26,136
this includes FREE all weather mats also, but they don't do wheel locks or mud guards for free BUT>>> they do a FREE>.. 7 year /100,000 mile warrenty, 7 yr/100k mile power train, FREE unlimited touchless car washes, car wash and vacuum w/ each service, FREE roadside 24/7 assistance for 7 yr/100k miles!! AND Free tire hazzard protection reinbursment!!!
so same OTD as offer #1 but w/ all the free warrenty...
MY apr ( I have 820 ++ credit score) is 5.99% w/ USAA but that's got gap insurance attached etc..etc.. and they are our bank and WONDERFUL!
anyway.. I paid (invoice at the time) 24,900 for my 2004 EX oddy! this is LESS!
Good deal??
I think so.. but wanted to ask....
If you buy from them; you can go back to your home state and have the same benefits (minus the car wash maybe, as that was just installed at the dealership).. as I will w/ that warranty!
I was worried it was ONLY at their dealership, but NO, ANY honda dealer... it's a honda warrenty! Basically it's an extended warranty for FREE !!
I'm really leaning towards #2 for the warranty since the van and OTD are the SAME price!!!
OTD was 34800 with 1.9 APR for 36 months, I also got the same
Quote from southbay Honda in los gatos, good luck...Kalyan
Luck.
Thanks in advance!
I figured that the cheapest deal would be $37347 (invoice + $670 destination) - $2250 (incentive) - $1215 (3% holdback based on MSRP) = $33882. So my price w/out the running boards is $218 above this. I'm also wondering if the $850 they want to charge for the running boards is too high. Don't know what they go for installed after-market.
Any feedback would be really appreciated!
Delears have to get rid of in stock models to get the new inventory.
can you tell me who is the dealer?
I figured that the cheapest deal would be $37347 (invoice + $670 destination) - $2250 (incentive) - $1215 (3% holdback based on MSRP) = $33882. So my price w/out the running boards is $218 above this. I'm also wondering if the $850 they want to charge for the running boards is too high. Don't know what they go for installed after-market.
Any feedback would be really appreciated!
I think the Honda holdback is 2%, not 3%. That may be the difference between your calculation and the offer from the dealer.
Thanks.
I got an internet offer of $28945+++ which is $31500 OTD in Dupage county IL.
Any thoughts or better deals anyone?
I am curious to know if they accepted your offer?
Thanks!
Vehicle: $30, 174
Destination: $670.00
Taxes: $905.00 (3% here in NC)
Tags: $69.00
Document Fees: $399.00
Total Out the door: $31,547.22
2009 Honda Odyssey EX-L with RES
Slate Green Metallic with Olive Leather Int.
Hope this helps future buyers.