I live in Pasadena, CA and I received one quote for $28, 448 and another for $28,888 before fees (local dealers) in this area. I think one dealer is in Pasadena and the other is in El Monte.
I have read some extensive discussion about hold back, I don't remember it is in this forum or some other ones I have read. In general, that's what covers Dealer's ads, stocking, or whatever overheads cost. In some cases, you may take that into consideration and in some cases, you may be able to get down the number a bit when bringing that up to dealer (I remember one person used this to his advantage when purchasing an 2005 Oddy earlier this year),
However, I have never seen people actually subtract hold back from the published invoice price to get the real dealer cost. While the general idea of a fair deal is $600 - $800 over invoice, taking hold back into the calculation, it will be at or below invoice and I don't think too many dealers are selling their cars at that price
Leave the hold back on side, the invoice for 2005 EX-L is $27,949 (published by KBB and Edmunds). From what I have read, a number of people said that the invoice goes up about $300 for the 2006, that's how I got the price. However, I was not certain about the exact number, but I am quite certain it's much higher than $27, 070.
You may also check message #10650, which posted some invoice info, not certain about resource, but seems to be in the right range. I checked the Consumer reports site for 2006 Honda price, but did not see anything about Oddy, maybe I was not looking at the right place.
330blast, I guess I could agree that taking into consideration holdback amount is probably what I can call aggressive buying:) I was actually almost shown the door today when used that aggressive buying technique:) But hey, they do pressure selling I will do aggressive buying. On a serious note. Think about it. You are saying that holdback is for dealer’s ads, stocking and other overhead costs. Yes, this is the purpose of the holdback. But with car like Oddy (or similar hot cars) that practically sells by itself – holdback is simply pure profit for the dealer. This is how I see it. But I still agree – I must be more careful when choosing when to use it and when not to use it:)
$28448 is pretty good price if includes destination. The dealer invoice include destination for 2006 EX-L is $28258.43...so your price is about $190 over dealer invoice.
******************************************************************************************- *********** Why do you think the invoice for 2006 EX-L is 28350-28488 ? According to the consumer report the base invoice (without destination) 27,434. Now add 550 in destination charges and it comes out to 27,984. Where did you take such a high figures from? Don’t forget 3% holdback from the msrp. It is about 914. subtract this number from the above figure (27,984 – 914) and you are getting real dealer’s cost for the EX-L = 27,070 ******************************************************************************************- **********
The invoice price you saw on consumer report is for 2005, 2006 model invoice increased by $300 .
Somebody else said it but I'll echo; the Odyssey being new, is very difficult to but using these traditional invoice or bottom up methods. If you use this aggressive pricing method you will likely be turned away or just get slightly below MSRP responses from all dealers not near big cities motivated by stiff competition. Bottom line is that dealers know they have a product in demand and think it is worthy of getting top dollar, not big discounts. Good luck, best I could do on an '06 Ody Touring was save about $2K off MSRP, almost halfway to dealer cost.
I got a quote from a dealer a couple of days ago for 2006 EX-L at $28,559, including destination. A few other dealers gave me quote about $1,000 more. However, yesterday he send me an email saying that he misquoted the price and the price should have been $29,599.
I am little puzzled and wondering whether it really was an error or dealers talked to each other. I did mentioned to another dealer about the original quote without giving out specific dealer name.
I am in IL. So far I haven't been able get any quote on 06 EX-L below $29,000. If any of you have, I would appreciate you sharing some information.
Actually the best price I've received thus far is thru Costco. Being near Concord, I was deferred to Honda of Concord where the very nice gentleman quoted me the following:
06 Odyssey EX-L RES (includes destination charges) - $30,696
However, for an 06 Odyssey Touring, the price was $35,470.
The Touring model is selling at of just above MSRP, while the EXL RES is considerably lower than MSRP.
I am hoping for to hear back from more dealers and have already spoken to the auto buying service about their services. I'm also willing to go to LA so I've been watching to see what prices are like in So. Cal here. I'm currently inclined to give the auto buying service a try as I think they will be able to get me a better price for a relatively minor fee. Probably will make a decision in the next week or so.
I just bought a 2006 EXL with RES for $31, 000 in New Jersey. This included destination and all other fee except taxes and Motor Vehicle fess. I dont think it was the best deal but a number of other Honda Dealers in the area were asking for Sticker Price so I did alright. I get delivery in two weeks and I hope everything works out.
I've had a deal in place with a dealer in Auburn, NY for about a month now. They were to order an 06 EX-L with RES in Tafetta White for delivery prior to Mid October. Just got a phone call from the dealer saying they can't get one. How can you not get a car if you order it? Their two solutions so far were to substitute a Midnight Blue or give me an '05 they found for $300 less, I told them add a zero and a couple thousand more and we'd talk. I called Honda and they don't have a way for me to check on the inventory of other dealers. Could someone point me in the right direction?
Any help would be appreciated as I'm in a tough spot, our trade in is an SUV and you know how the values of those have gone down in the past month.
********************************************************************************** I got a quote from a dealer a couple of days ago for 2006 EX-L at $28,559, including destination. A few other dealers gave me quote about $1,000 more. However, yesterday he send me an email saying that he misquoted the price and the price should have been $29,599.
I am little puzzled and wondering whether it really was an error or dealers talked to each other. I did mentioned to another dealer about the original quote without giving out specific dealer name.
I am in IL. So far I haven't been able get any quote on 06 EX-L below $29,000. If any of you have, I would appreciate you sharing some information. ******************************************************************************
You just missed a great deal. Two chicago area dealers were offered $99 over dealer invoice on any 2006 Odyssey ended Sept 5th.
They are trying to tell me that they can't get white. That there were not enough orders and that Honda isn't producing them in this run.
Looks like I'll have to go crawling back to the other dealers that couldn't beat this price and pay them to get what I want. Frustrating, I didn't expect this from an Honda dealership. Is there a phone number or something for Honda to file a complaint about the dealer?
06 touring price -$35,470. Does it include NAV & RES?
I got a quote from a LA dealer (1st round). He offered $1000 discount. Another LA dealer said he will beat any quotes. I hope to get it $2500 below MSRP. By the way don't try Dublin Honda (MSRP only)
Yea, what he said. The word is won't, not can't. Dealers can very easily see another dealers current stock, mother Honda might not do it for you though. The GA dealer that I'm getting an '06 Touring was able to quickly (while I was on the phone) look at all other dealers stock in the entire southeast. Someone is feeding you a line of bull. Maybe they have one or more buyers for every Ody allocated that will pay more than you did so you are getting a virtual cold shoulder despite having one on order. If you want to try searching yourself, go to the Honda site, put in a neighboring or distant zip code, and find one in stock from the dealer sites listed but thumbing through the pages. This is how I found a competitive dealer and although they didn't have mine in stock, it was forecasted in. Happy hunting and good luck.
Bought it last Saturday from Norm Reeves Honda in Cerritos, CA. I went there because they sent me an email saying they'll sell me any vehicle on the lot at employee pricing. When I got there the internet salesman could only offer me $500 off MSRP. He said if I was looking to purchase an Accord or something but can't sell the Odyssey for anything less than what he offered. I took that as "We have vehicles to sell at employee pricing, everything except but what YOU want to buy." To make the long story short, I ended up talking to the general sales manager. I ended up paying $33,429.77 OTD, which comes to $30,731.82 for the Ody with destination. 0%/36 month financing for $10,000. I had lower offers for the vehicle from other dealers, but the OTD pricing was higher. I wasn't too happy about the way they got me to their dealership, with the misleading email, I should have gone to another dealership, but I was tired.
Invoice price in a 06 EX-L is $27,708. I got this in two different ways. First, I knew the 05 MSRP and invoice, and then using that ratio on the 06 MSRP, I got 27,704. Then when I visited a Honda dealer in the DC area, I asked to see their invoice, and they showed me and it was 27,708. This difference is just a rounding error on my calculation.
The quote I received for the 06 Touring is just the base model (which includes RES) for $35,470. No NAV.
Honda of San Leandro (Internet Sales) provided me a quote on an 06 EXL with RES for $1,000 over invoice. Not bad. It's actually the same price I can get thru Costco.
I'm now in discussions with 2 auto brokers who both promise they will easily beat any best price I find on my own, including the fee for their services. Still considering....
EXcluding. Destination is $550. 27,708 is vehicle ONLY. You will of course have to pay destination, tag, title and tax. After that, they may try to stick you with a processing fee, along with some "accessory package" of bloated priced wheel locks and heavy duty floor mats.
Do you really think that dealer doesn't want to sell you a new Odyssey?
What they told you is probably true. Honda builds cars in batches of at least 30 cars. If the dealers didn't order enough of a certain model/color in that particular district, there may not be any out there.
And, white is probably the LEAST popular color on Odysseys. It's very possible the dealer ran a "locate" and there weren't any to trade for.
It's also possible there WERE some out there but that dealer doesn't trade with that dealer. I know in the case of our store there are a handful of stores we won't trade with.
No flexability on color at all? Silver maybe? Silver seems to be the most popular color and there may be some of these out there.
No, no flexibility on color. Have had all white cars and like them, see no reason to change now. Honda lists the color and they promised it to me so it is their problem how they get one. I guess what has me the most upset is why did they not know this in the 4 weeks since I placed my order with them? I have a sneaking suspicion that they just got around to ordering it.
I did call another dealer that I have previously worked with last night. He did a locate and found 7 whites in NY (one less than an hour away) and a few others in neighboring states. I just feel that this dealer is not willing to go the extra mile to get the car that I want, especially since they are locked into a price for my trade.
Will post when I have talked to the offending dealer one last time. Thank you for the input.
Is there a good Honda dealer out in Arizona that will sell the 06 Odyssey close to invoice? I have not have good luck with any dealers? Thanks in advance.
You are right that describing holdback as "pure profit" is misguided. It is part of the dealer's "gross profit". However, whatever you call it, I have a hard time sympathizing for car dealers. Bottom line, unlike Macy's for example, car dealers are actively looking for suckers, and will give customers different prices at the same moment (while Macy's may mark-down a shirt, it does not charge more to customers based on their ability to negotiate). People hate playing the sucker, so dealerships have created their own worst enemies by their historical (and continuing) actions. Also, the cry of poverty does not ring true when car dealership owners are generally some of the wealthiest people you will meet (and the most well connected, which explains the difficulty in buying cars directly from internet merchandisers who have been effectively defeated by the various state protection statutes that enrich local dealerships).
I agree with a lot of what you said here. When I quote invoice prices and holdback to the salesman I am working with, I let him know that I am not doing so because I think that I should get the car for his cost, but just the opposite, so he knows that I understand this is a two-way street and we both need a fair deal. And this is the way commerce works anyway, nobody makes a deal that they don't want to make, its a free choice, though of course we all want to make the best deal for ourselves that we can. Still, I feel like it gets the conversation moving in the right direction (towards a fair deal for everyone) if the salesman knows that I know his cost structure.
Now, onto holdback, the only point is that it has to be included, at a minimum, in appreciating the cost the dealer paid for the car. I am not talking about other indirect costs associated with running a dealership, just the cost of the car. Your utility bills, janitor services, health insurance, etc. are FIXED costs. Only the cost of the car (and salesman commission, but I don't know if that is based on profit or sale price) is variable. Fundamental economics is that you need to cover your VARIABLE costs ONLY in the short run. This is econ 101. You will go out of business if you never cover your fixed costs, but in the long run you do, because you sell a LOT of your cars for way over invoice.
So, the lesson is, it makes sense for the dealer to sell a car that makes any profit over their variable cost, assuming they are covering their fixed costs in the long run. Translation: because there are lots of under-informed people paying more than they need to for a car, dealers are able to sell to more informed people at a better price. Selling a car for a $500 profit over cost is better than not selling it at all. The exception to this is if the real alternative is selling that car for a $3000 profit. And this is what the dealer wants you to think, but only they really know if it is true. If they know they have a limited number of cars to sell, and they are likely to get much more profit selling to someone else, they will wait. Honda helps out here by limiting inventory. Only the dealer really knows, but they obviously have incentive to make you think that is the case no matter what.
And this gets to the final point regarding people's distrust of car dealers in general. The whole process sets up a very adversarial relationship. We never know if we are getting a good deal, because we don't ever really know what we could have paid for the car, or what the last guy in here paid. Its very mysterious, and while the dealer has every incentive to make it seem as though he can't go much below MSRP because the car is in such high demand (e.g. 06 Odyssey), the consumer can't know for sure, and yes, car dealers can be less than perfectly honest. Look how many people have flocked to these "employee discount deals." The WSJ published an article a couple months ago showing the people were not spending any less on their car purchases under the deal, but volume was up HUGE. Why? Because they felt like it was fair, and they didn't have to worry about getting burned. With a shirt at Macy's, we know we can take it or leave it, and that is what everyone will pay for that shirt. We also know that we can go to another department store for the same shirt, and compare price. Car shopping too often takes this out of the equation where you have 1-on-1 negotiations with a single dealership. Bring multiple dealerships into the equation by shopping around, and you not only get a better deal, but you feel better about it.
Its a shame that everyone in one profession gets lumped together as cheats. It obviously isn't true. Lawyers have the same problem. But the fact is, the dirty, lying, money-grubbing lawyers give the other 1% a bad name. Just kdding. But you know what I mean, we grow up conditioned through the bad stories getting passed around and the good ones not. I've had 75% great dealings with car dealers, whether I made the deal with them or not.
i to am having the same problem on a similarly configured Odyssey. We think it is coming from the passenger side. i tried moving the passenger side rear-view mirror but that didn't help. We haven't ruled out an issue with the active noise cancellation yet.
1st Post after lurking for a while. 2nd child coming in December and am going the minivan route. Pretty much decided on the 2006 Honda Ody Touring with DVD and Navi. Best quote so far is $37,789. Any good? How low can I expect them to go?
Well, if my assumptions about invoice prices are wrong – which I must agree with you – why don’t you show us how a car salesperson, which I assume you are (isellhondas1) can be honest and give us all the invoice prices for 2006 models:) Now about holdback. Yes, I already agreed that I used aggressive buying. And I don’t feel guilty about it. You don’t feel guilty about pressure or aggressive or dishonest selling, don’t you? Are you saying I am wrong? Are you saying car selling is not dishonest? Then explain to me why for the same car I am being given prices that range from 29,758 to 28600? Oh, yes, it all depends on level of greed and my ability to bargain at any given moment. But regardless of my personal feelings about it (and I apologize for expressing them here) holdback is just an offset of you total bill for the vehicle. At the end there is a price that you finally pay for the car, the amount of money that car actually costs you. And that amount of money, regardless how you call different terms, equals Invoice – Holdback:) Sorry, forgot, plus destination charges. As easy as that. I don’t care at what point you receive the holdback. Maybe you pay invoice and then, at the end of the month receive holdback, or some other way. Does not matter. 2+2 is still 4. Actually Invoice-Holdback is still the true price for the car that YOU pay. And all your operating and other expenses – this is what profit is for:) And in no way (God forbid!) I am trying to deprive you from your profit! Not at all. I just wish that you had guts to do business like any other store, like Macys for instance. Others, responding before me, already gave good examples. But in no way I will ever feel sympathy to you regarding how “difficult” it is to you to make profit:) Can you imagine Apple sells their iPod at different prices?:) Product that practiclay sells by itself because IT IS THE BEST. And I will buy it for 299 and you… well… you will pay 358.99 because you dot know how to negotiate, funny, I like to see that:) With the advances in the internet technology buyers are becoming more educated and less and less afraid of the car dealers. And you (I still assume you represent one of the car dealers) are more and more afraid of an educated buyer.
I think any dealer will give you their invoice if you ask, and persist if they seem to "forget". None have ever denied me. But why wait for the dealer? Go to the costcoauto.com website, click on car research, and you're off. You can get invoice for all the 06 Odyssey models there. Destination is an additional $550 for each.
LX: $22,810.88 EX: $25,551.71 EXL: $27,708.43 EXL RES: $29,146.25 EXL RES NAVI: $31,123.24 TOURING: $32,920.51 TOURING RES NAVI: $34,897.51
Dealers, please correct me if these numbers are inaccurate.
Holdback is the money needed so that you can keep a car on the lot for 60 days. However knowing that is there is a great tool. I bought my car 2005 Odyssey EXL with RES for 180.00 over invioce. I talked to the internet sales guy and he was like 500 over on anything on the lot. Then he said he had 2 coming in on friday 180.00 over if I bought on saturday, one was the color I perfered. I picked it up Saturday morning. He got almost all of his holdback as profit. This is probably why I got the deal I got and he moved the car quickly. If the sale dosen't make sense than don't sell the car. As a consumer I am trying to get the best deal. Personel at car dealerships change so fast at most dealerships the relationships mean very little.
Wow, what an interesting discussion on holdback. Anyway, replying to this post, it seems some dealers have an adversarial relationship and won't trade with each other, that could be why you are 'Taffeta-less'. For instance, our town Honda dealer and the neighboring one are not on speaking terms and would never swap vehicles. If you are near a big city and dealers compete, you are likely to find the same lack of a swapping relationship and suffer the consequences. You may be forced to take a dive on your trade and go to the competition if you insist on white. Apparently they aren't extinct yet, just hard to find since at the moment they aren't building any more in white.
Holdback IMHO: Yes, it's the cost of doing business, and like all other costs, is increasing faster than websites like this show. Isellhondas1 (a knock-off of the original) has some good points even though we don't trust any car dealer-LOL, and no one feels a dealer is not entitled to a fair profit. Every consumer should be aware of dealer bottom line costs to acquire a vehicle (in most cases, invoice) and do their best to buy close to that price as can be negotiated. This doesn't take into account bonuses/percentages dealers may get for selling certain numbers of vehicles. Ford for instance, give dealers something like 3 percent for reaching goals, more if they exceed them. Small dealers seem to never delve into holdback, larger ones can afford to do so occasionally.
I for one would appreciate more standardized pricing for all consumer products that have a fixed cost to produce and deliver. This goes against human nature as we are all naturally pursue and even enjoy the hunt, even a good deal on a vehicle. Imagine if every product we buy had two prices, the final on the shelf cost followed by what the retailer is selling it for? This would also reveal the logistic and overhead costs. If Best Buy listed the I-pod as $164.82C/$289.99R or Macy's Polo shirt at $12.73C/$54.50R would we all be happier consumers, probably not. What we would have is awareness of how much profit the retailer gets, and as a consumer this is a my right at least for vehicles so I intend to keep using this and other sites. If we standardized pricing there'd be no more reading the Sunday paper to find the best deals, boo-hoo. To go one step too far...what if gas pumps did this too but with three prices, actual cost to produce/vendor cost to deliver at the POS/retail cost. At least we would have a better idea of who is to blame but none of that would matter if the underground tank is empty.
If dealers are unhappy with the rap they get I suggest they improve business practices/ethics or change careers; I hear Macy's and Apple are hiring--wink.
I don't mind discussions about holdback and dealer profit but, by the same token, overhead should be considered as well. I don't think many people have any idea of the tremendous amount of money it takes to open the doors.
I've seen just a few of these bills and the amounts are staggering!
I contacted a delaer through the Costco Auto Program and they would only give me a price of $2,000 over dealer invoice. I am in the Southern CA area. Has anyone else purchased through Costco? Please tell me how much you paid for your car.
I don't know how far you are looking to drive, but if you are in San Diego area I would forgo down south and head on up north where they are more willing to compete for your business. I bought 06 EX/L-RES for $33,429.77 OTD from Norm Reeves of Cerritos though I'm from San Diego. Ask for quote from Rock Honda, and Norm Reeves of Temecula, they'll respond. Good luck.
I bought a 06 EXL for $1290 over invoice from Escondido Cush Honda (San Diego area). Initialy they insisted on $2000 over invoice. after I mentioned that I got an quote of $1300 over from Norm Reves of Temecula, they agreed to match and I took their offer.
Anyone purchased a new 2006 Odyssey in New England?. I keep hearing from some dealers that they wont be around till october, but that seems hard to believe.
I didn't receive any quote from Cush Honda, though a sales lady did call while I was out. When I called back she didn't know who I was or what I wanted. The way the conversation went she wasn't too interested doing any business with me. I got a quote Hoehn Honda for $35,504.23 OTD, when I told them their price wasn't competitive with other dealers they told that they can't make an offer any lower.
Yes, looks like I will have to bite the bullet and either wait longer or accept a different color. The dealer has told me that they will try to do a dealer trade, not sure why they hadn't already tried it. If they can't get it, I'll have to wait until more White Odys are made.
On a side note, spoke to another dealer on the price and variation since I got my deal. My deal is $11,000 for my trade and $1000 over invoice, the best they could do now is $9,000 for my trade and $1500 under MSRP. Quite a price change in a month. Have to stick with my original deal if possible.
Comments
chris
I have read some extensive discussion about hold back, I don't remember it is in this forum or some other ones I have read. In general, that's what covers Dealer's ads, stocking, or whatever overheads cost. In some cases, you may take that into consideration and in some cases, you may be able to get down the number a bit when bringing that up to dealer (I remember one person used this to his advantage when purchasing an 2005 Oddy earlier this year),
However, I have never seen people actually subtract hold back from the published invoice price to get the real dealer cost. While the general idea of a fair deal is $600 - $800 over invoice, taking hold back into the calculation, it will be at or below invoice and I don't think too many dealers are selling their cars at that price
Leave the hold back on side, the invoice for 2005 EX-L is $27,949 (published by KBB and Edmunds). From what I have read, a number of people said that the invoice goes up about $300 for the 2006, that's how I got the price. However, I was not certain about the exact number, but I am quite certain it's much higher than $27, 070.
You may also check message #10650, which posted some invoice info, not certain about resource, but seems to be in the right range. I checked the Consumer reports site for 2006 Honda price, but did not see anything about Oddy, maybe I was not looking at the right place.
I guess I could agree that taking into consideration holdback amount is probably what I can call aggressive buying:) I was actually almost shown the door today when used that aggressive buying technique:) But hey, they do pressure selling I will do aggressive buying.
On a serious note. Think about it. You are saying that holdback is for dealer’s ads, stocking and other overhead costs. Yes, this is the purpose of the holdback. But with car like Oddy (or similar hot cars) that practically sells by itself – holdback is simply pure profit for the dealer. This is how I see it.
But I still agree – I must be more careful when choosing when to use it and when not to use it:)
Why do you think the invoice for 2006 EX-L is 28350-28488 ? According to the consumer report the base invoice (without destination) 27,434. Now add 550 in destination charges and it comes out to 27,984. Where did you take such a high figures from? Don’t forget 3% holdback from the msrp. It is about 914. subtract this number from the above figure (27,984 – 914) and you are getting real dealer’s cost for the EX-L = 27,070
******************************************************************************************- **********
The invoice price you saw on consumer report is for 2005, 2006 model invoice increased by $300 .
Holdback is NOT "pure profit". It helps pay for flooring and some of the advertising costs.
Cars sell for what the market dictates. What a dealer may have paid for that car has nothing to do with that.
I am little puzzled and wondering whether it really was an error or dealers talked to each other. I did mentioned to another dealer about the original quote without giving out specific dealer name.
I am in IL. So far I haven't been able get any quote on 06 EX-L below $29,000. If any of you have, I would appreciate you sharing some information.
06 Odyssey EX-L RES (includes destination charges) - $30,696
However, for an 06 Odyssey Touring, the price was $35,470.
The Touring model is selling at of just above MSRP, while the EXL RES is considerably lower than MSRP.
I am hoping for to hear back from more dealers and have already spoken to the auto buying service about their services. I'm also willing to go to LA so I've been watching to see what prices are like in So. Cal here. I'm currently inclined to give the auto buying service a try as I think they will be able to get me a better price for a relatively minor fee. Probably will make a decision in the next week or so.
Good luck!
Any help would be appreciated as I'm in a tough spot, our trade in is an SUV and you know how the values of those have gone down in the past month.
Thanks in advance.
Just go on Honda's website and find links to various dealers. Some show inventory (many with color indicated), some don't.
I got a quote from a dealer a couple of days ago for 2006 EX-L at $28,559, including destination. A few other dealers gave me quote about $1,000 more. However, yesterday he send me an email saying that he misquoted the price and the price should have been $29,599.
I am little puzzled and wondering whether it really was an error or dealers talked to each other. I did mentioned to another dealer about the original quote without giving out specific dealer name.
I am in IL. So far I haven't been able get any quote on 06 EX-L below $29,000. If any of you have, I would appreciate you sharing some information. ******************************************************************************
You just missed a great deal. Two chicago area dealers were offered $99 over dealer invoice on any 2006 Odyssey ended Sept 5th.
Looks like I'll have to go crawling back to the other dealers that couldn't beat this price and pay them to get what I want. Frustrating, I didn't expect this from an Honda dealership. Is there a phone number or something for Honda to file a complaint about the dealer?
Thanks.
I got a quote from a LA dealer (1st round). He offered $1000 discount. Another LA dealer said he will beat any quotes. I hope to get it $2500 below MSRP. By the way don't try Dublin Honda (MSRP only)
Post your question here: Honda Odyssey: Lease Questions and you'll have a better chance of getting an answer..
regards,
kyfdx
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I went there because they sent me an email saying they'll sell me any vehicle on the lot at employee pricing. When I got there the internet salesman could only offer me $500 off MSRP. He said if I was looking to purchase an Accord or something but can't sell the Odyssey for anything less than what he offered. I took that as "We have vehicles to sell at employee pricing, everything except but what YOU want to buy."
To make the long story short, I ended up talking to the general sales manager. I ended up paying $33,429.77 OTD, which comes to $30,731.82 for the Ody with destination. 0%/36 month financing for $10,000. I had lower offers for the vehicle from other dealers, but the OTD pricing was higher. I wasn't too happy about the way they got me to their dealership, with the misleading email, I should have gone to another dealership, but I was tired.
Honda of San Leandro (Internet Sales) provided me a quote on an 06 EXL with RES for $1,000 over invoice. Not bad. It's actually the same price I can get thru Costco.
I'm now in discussions with 2 auto brokers who both promise they will easily beat any best price I find on my own, including the fee for their services. Still considering....
Do you really think that dealer doesn't want to sell you a new Odyssey?
What they told you is probably true. Honda builds cars in batches of at least 30 cars. If the dealers didn't order enough of a certain model/color in that particular district, there may not be any out there.
And, white is probably the LEAST popular color on Odysseys. It's very possible the dealer ran a "locate" and there weren't any to trade for.
It's also possible there WERE some out there but that dealer doesn't trade with that dealer. I know in the case of our store there are a handful of stores we won't trade with.
No flexability on color at all? Silver maybe? Silver seems to be the most popular color and there may be some of these out there.
I did call another dealer that I have previously worked with last night. He did a locate and found 7 whites in NY (one less than an hour away) and a few others in neighboring states. I just feel that this dealer is not willing to go the extra mile to get the car that I want, especially since they are locked into a price for my trade.
Will post when I have talked to the offending dealer one last time. Thank you for the input.
The deal was good from early August to Sept 05 and only when contact with particular salesperson.
thanks
Now, onto holdback, the only point is that it has to be included, at a minimum, in appreciating the cost the dealer paid for the car. I am not talking about other indirect costs associated with running a dealership, just the cost of the car. Your utility bills, janitor services, health insurance, etc. are FIXED costs. Only the cost of the car (and salesman commission, but I don't know if that is based on profit or sale price) is variable. Fundamental economics is that you need to cover your VARIABLE costs ONLY in the short run. This is econ 101. You will go out of business if you never cover your fixed costs, but in the long run you do, because you sell a LOT of your cars for way over invoice.
So, the lesson is, it makes sense for the dealer to sell a car that makes any profit over their variable cost, assuming they are covering their fixed costs in the long run. Translation: because there are lots of under-informed people paying more than they need to for a car, dealers are able to sell to more informed people at a better price. Selling a car for a $500 profit over cost is better than not selling it at all. The exception to this is if the real alternative is selling that car for a $3000 profit. And this is what the dealer wants you to think, but only they really know if it is true. If they know they have a limited number of cars to sell, and they are likely to get much more profit selling to someone else, they will wait. Honda helps out here by limiting inventory. Only the dealer really knows, but they obviously have incentive to make you think that is the case no matter what.
And this gets to the final point regarding people's distrust of car dealers in general. The whole process sets up a very adversarial relationship. We never know if we are getting a good deal, because we don't ever really know what we could have paid for the car, or what the last guy in here paid. Its very mysterious, and while the dealer has every incentive to make it seem as though he can't go much below MSRP because the car is in such high demand (e.g. 06 Odyssey), the consumer can't know for sure, and yes, car dealers can be less than perfectly honest. Look how many people have flocked to these "employee discount deals." The WSJ published an article a couple months ago showing the people were not spending any less on their car purchases under the deal, but volume was up HUGE. Why? Because they felt like it was fair, and they didn't have to worry about getting burned. With a shirt at Macy's, we know we can take it or leave it, and that is what everyone will pay for that shirt. We also know that we can go to another department store for the same shirt, and compare price. Car shopping too often takes this out of the equation where you have 1-on-1 negotiations with a single dealership. Bring multiple dealerships into the equation by shopping around, and you not only get a better deal, but you feel better about it.
Its a shame that everyone in one profession gets lumped together as cheats. It obviously isn't true. Lawyers have the same problem. But the fact is, the dirty, lying, money-grubbing lawyers give the other 1% a bad name. Just kdding. But you know what I mean, we grow up conditioned through the bad stories getting passed around and the good ones not. I've had 75% great dealings with car dealers, whether I made the deal with them or not.
Does anyone else have any input?
Now about holdback. Yes, I already agreed that I used aggressive buying. And I don’t feel guilty about it. You don’t feel guilty about pressure or aggressive or dishonest selling, don’t you?
With the advances in the internet technology buyers are becoming more educated and less and less afraid of the car dealers. And you (I still assume you represent one of the car dealers) are more and more afraid of an educated buyer.
LX: $22,810.88
EX: $25,551.71
EXL: $27,708.43
EXL RES: $29,146.25
EXL RES NAVI: $31,123.24
TOURING: $32,920.51
TOURING RES NAVI: $34,897.51
Dealers, please correct me if these numbers are inaccurate.
I want to buy a 2006 Odyssey EX-L RES (DVD).
Help!!!
Holdback IMHO: Yes, it's the cost of doing business, and like all other costs, is increasing faster than websites like this show. Isellhondas1 (a knock-off of the original) has some good points even though we don't trust any car dealer-LOL, and no one feels a dealer is not entitled to a fair profit. Every consumer should be aware of dealer bottom line costs to acquire a vehicle (in most cases, invoice) and do their best to buy close to that price as can be negotiated. This doesn't take into account bonuses/percentages dealers may get for selling certain numbers of vehicles. Ford for instance, give dealers something like 3 percent for reaching goals, more if they exceed them. Small dealers seem to never delve into holdback, larger ones can afford to do so occasionally.
I for one would appreciate more standardized pricing for all consumer products that have a fixed cost to produce and deliver. This goes against human nature as we are all naturally pursue and even enjoy the hunt, even a good deal on a vehicle. Imagine if every product we buy had two prices, the final on the shelf cost followed by what the retailer is selling it for? This would also reveal the logistic and overhead costs. If Best Buy listed the I-pod as $164.82C/$289.99R or Macy's Polo shirt at $12.73C/$54.50R would we all be happier consumers, probably not. What we would have is awareness of how much profit the retailer gets, and as a consumer this is a my right at least for vehicles so I intend to keep using this and other sites. If we standardized pricing there'd be no more reading the Sunday paper to find the best deals, boo-hoo. To go one step too far...what if gas pumps did this too but with three prices, actual cost to produce/vendor cost to deliver at the POS/retail cost. At least we would have a better idea of who is to blame but none of that would matter if the underground tank is empty.
If dealers are unhappy with the rap they get I suggest they improve business practices/ethics or change careers; I hear Macy's and Apple are hiring--wink.
I've seen just a few of these bills and the amounts are staggering!
Has anyone else purchased through Costco? Please tell me how much you paid for your car.
I bought 06 EX/L-RES for $33,429.77 OTD from Norm Reeves of Cerritos though I'm from San Diego. Ask for quote from Rock Honda, and Norm Reeves of Temecula, they'll respond.
Good luck.
I am looking to buy a 06 Odyssey EXL RES as well. Sounds like you got a fair price. :shades:
Wanted to clarify...
The $30,400 you paid... was that truly the "Out the Door Price"?
Did you get any options if so which ones?
Did the dealer throw in any extras at no cost?
City state you purchased?
Please Advise.
Thanks!
On a side note, spoke to another dealer on the price and variation since I got my deal. My deal is $11,000 for my trade and $1000 over invoice, the best they could do now is $9,000 for my trade and $1500 under MSRP. Quite a price change in a month. Have to stick with my original deal if possible.
Thanks for all of the input.