Buy new Honda Odyssey or certified ones?

gkrishgkrish Member Posts: 2
edited August 2015 in Honda
Hi,
I am new to the forum and need some help deciding my new car. I already have a Honda accord and is planning to buy a minivan. We decided to go with Honda Odyssey. What confuses is whether to go with new or buy a certified one.
The new SE model cost around 34K while a certified one 2012 model EX-L with 35K mileage and 12K warrenty can be purchased at around $25K having more features than new SE model. It is worth to buy new vehicle considering saving of $10K buying used?

Comments

  • steverstever Guest Posts: 52,454
    Tough call, sounds like more bang for the buck with the certified one.

    About certifications, I'd only pay extra for the Honda backed certification. Some dealers certify their own cars and the third party warranty companies they use may not have the best reputation.

    And lots of dealers apparently skim over those "170 point" checks when they certify used cars. If you go that route, you may still want to pay an independent shop $100 for a pre-purchase inspection. Things like the tires all matching are easy to check but it's surprising how many posts you can find over the years where a CPO vehicle had all sorts of issues supposedly covered by the CPO inspection process.
  • gkrishgkrish Member Posts: 2
    Stever,

    Agreed.. the one I was looking is of CPO vehicles from honda website directly. Now, when using Edmunds price checker, I do see EX-L can be purchased for $33K. That makes me think of buying new if the price difference is just 8K for a new / 3 year old used one certified by Honda.
  • steverstever Guest Posts: 52,454
    I didn't run the numbers but if you price out the used Odyssey, at the bottom of the process where you'll find True Market Value, you'll also see our CPO "TMV" price.

    The TMV price is an average, so your goal, for either vehicle, would be to beat TMV.

    And yeah, back to the tough call part, some used cars seem crazy expensive compared to a new one. Especially Hondas. But you'll "step down" a trim level for the 2015.

    You can also argue that since Hondas hold their value so well, you may as well buy the newest model, knowing that you'll come out ahead down the road when you trade it in.
  • kyfdxkyfdx Moderator Posts: 233,532
    gkrish said:

    Stever,

    Agreed.. the one I was looking is of CPO vehicles from honda website directly. Now, when using Edmunds price checker, I do see EX-L can be purchased for $33K. That makes me think of buying new if the price difference is just 8K for a new / 3 year old used one certified by Honda.

    $1500 dealer cash on a new Odyssey EX-L, right now.

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  • steverstever Guest Posts: 52,454
    lol, enabler. :D
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