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Comments
I had this deal on a Touring with NAV & RES. Retail $39,060, Sell price $33,590 plus Tax and Tags/doc fee. Deal was orig. from Boardwalk Honda in Egg Harbor Twp (30 minutes from Burns) but they did not have the color we wanted. I found Willis in Burlington to match deal. Boardwalk did locate the color and I am picking up today. The clincher was the trade of my 2004 Sienna AWD, XLE Limited with 43k, $22,000. I was very happy with that. I had great dealings via email with both dealers. No BS at all!!
Thank you
Anyway, unless you would otherwise pay in cash, I'd pick the $2000. Say you negotiate a price of 30,000. If you pick the financing and they don't give you the incentive, you will finance 30,000 at 2 yrs at 2.9%, and pay a total of 30,912 over 2 years. If you pick the $2000, you would finance only 28,000. At current interest rates (I'm using 5.9%) you would pay a total of 29,753 over 2 years. So total, by taking the 2000, you really save about 1200.
Sales guy was old school but fair (email for name).
Of note: "Manager" tried pulling a bush-league maneuver. Original phone quote was $30500 w/o negotiation. Once there, their counteroffer was $30300+$600 destination, effectively raising his offer to $30900! My wife was particularly offended and we mentioned bait and switch and started to get up. They quickly dropped their offer another $1000. All quotes I'd gotten over internet had included dest. but not tax/title/lic.
BTW: According to CR, the holdback is $1047, not the 2% they show you. Then deduct the $2K incentive.
But if it's 2%, their base cost is $29550
If it's $1000, their cost is about $29140
Don't know which holdback is correct, but that should tell you how low they might go. We didn't finance.
I also concur with previous posts that trade-in and financing terms are a huge part of the deal that often gets overlooked. A friend manages a Nissan dealership and he's informed me that they make more money on trade-ins than on new vehicles. They also entice people by talking about "reducing your monthly payment" by extending the life of the loan. Sure, your monthly payment comes down, but you wind-up paying much more for the vehicle.
Look at every angle.
I am from San Diego and the best deal I got at SD was $33460 OTD.
Excellent Service. No bait and switch. No surprises. The internet specialist was very straightforward and seemed eager to get the deal done soon.
But the best part was the 'walk through' of the car after the deal was done. There was this senior gentleman called Tom who went through all the useful features of the car in a very methodical way...we were tired after our drive from san diego and because it was past 10.00pm but he kept our spirits up with the manner in which he did his job. At the end he gave us two well organized envelopes... one for the glovebox and one that need not be in the car. Everything, including the way he affixed the temporary registration sticker was well thought out and carefully done.
I'd highly encourage anyone in Orange County or San Diego to check them out. I took a train from SD to Anaheim and had the dealer give us a ride to the dealership.
Got stung by the "Alarm" system (Karr) [which I could have declined] which most Honda dealers carry...and the 'great' deal turned into a 'good' deal and more money for the dealer. Anyways lets remember that carsalesmen do not have a stellar reputation and frankly I am trying to put this behind me...
For example : Alarm system with a quoted price of $799
and others
All of us focus on basic prices but dealer can expand their reach through options, financing, Lojack, paint protection, extended warranty
Prices of Honda accessories can be shopped online from various sources for price comparisons. Only buy a Honda extended warranty (see separate thread on this site). Can't see the point or value of a supplemental security system on an Odyssey.
Buy only what you want - period.
$699 for Back-up Sensors
Total OTD $28913
No Trade in. No finance from dealer
Nice work. That's a great price for a Touring.
The price was 27019.00 Tax, Tag...
This is my first time "haggling" for a car (I've been a Saturn no-haggle person for years now) and as a female doing this w/o my husband available, I'm so worried about getting taken for a bad ride to finance hell. I've been reading for hours here on Edmunds trying to get savy. He originally started at 32K, but when I mentioned being an Edmunds person, he quickly came down. Have I chewed him down enough or is it too late to get him down further?
He said, I got it to you at invoice, what more do you want?
We're a military family with 2 kids and 2 dogs. The last thing I need is a huge car payment for a vehicle that I ultimately paid too much for.
Any help would be SOOOO appreciated.
~Danielle
Oh, also: I'm in FL trying to buy before I travel back to NY in 1.5 weeks. Dunno if I'd get a better deal up north or not, but I figured I'd start the process here.
Thanks again!
I have been comparing what people are recently paying to the TMV and it seems that deals are being made a few hundred below TMV right now. It looks like you are in the ballpark. The best way to be sure is to visit a local dealer that has a high inventory of EX-L with RES (check delaer web site for new car inventory) and see if they can beat your current offer. Just walk out if they can't or play games with you.
I would investigate state taxes before buying in Florida. I live in Maryland and if you buy a car in another state prior to moving here, you would pay state sales taxes in the purchase state, and pay sales tax on the remaining car value when registering in MD. Florida and NY may be similar. You may be better off waiting until moving to NY to avoid double taxation.
Ed
I'd go somewhere else if you can and shop the numbers around. Dealing with only one dealership is usually a bad idea because you have no way of knowing what others might offer. You need to take this offer and ask other dealers if they can beat it significantly- and i suspect that they will. Dont feel bad about it- he actually sounds like he's giving you the hard sell.
Regarding the TMV price, I find that Edmunds can be a little behind in updating their numbers at this time of the year with incentives etc. To give you an idea, I paid 1300 LESS than TMV a week and a half ago for my Odyssey. And that INCLUDED the dealer "document fees." I believe that you can do better - from what you describe he is not offering you all of the $2000 incentive and he is kind of lying to you. According to edmunds, the normal invoice price is 30,199. If you include the incentive, his invoice price is 28,199. So even at 28,801 you have about 600 more to go, just to get to invoice, so when he says it is at invoice, he is being dishonest because he's actng like thats how much the dealership paid for the car but not including all the incentive. Remember the dealership is also getting their holdback (hundreds if not more than 1000 dollars) AND a seemingly ridiculous document charge of 495 (mine was 99, just to give you perspective, I dont know what the norm is for Florida though). So he'd make about 2000 off of you right now, which is alot.
If I were in your shoes, I would shoot for at least $100 below invoice, or about 28,000 even. I bet you could get a dealer to sell for that price, especially this time of year.
I would do the following 4 things:
- If you want to still deal with this guy who appears to be lying to you and giving you the hard sell, email him and tell him that you know about the incentive, that the adusted cost to them for the van is really 28,199, not including their holdback or dealer charges. Ask him what his real lowest price is- tell him if he has to go ask his sales manager, that's fine- you'll be shopping around at other dealers while he does that.
- email around to other dealerships to see what prices they can give you. Tell them that you are shopping around and expect them to do better than invoice - 2000 to get your business.
- check out whether or not you will pay double sales tax. I know around here (Maryland) you can buy a car in DC or VA and pay the Maryland sales tax up front so you dont pay double. Not sure how it works in other states. If you are military and Florida is your residence where you register your car(s), it's not a big deal, but if you want NY plates you will have to pay NY taxes at some point.
-whatever oyu do and wherever you buy, obtain alternate financing IN ADVANCE. If you use a credit union this can be easy - just go in and ask for a car loan. They will give you a preapproval letter that specifies the terms of the loan, including the interest rate and number of months. Another option is to use e-loan, where you can apply online or over the phone, and they approve you and give you a 'blank check' to use at the dealer. If you are concerned about financing, definitely have one of these with you when you go in. You can then see what Honda will offer you as far as financing goes, and just go with whoever gave you the lowest rate for the number of months you want to finance. That way Honda has no leverage over you.
Hope that helps!!
eloan 6.25% (still at this rate)
credit union 6%
Honda 5.94%
all for 60 months... and of course depends on credit...
$28,128 also gave full blue book for trade. TTL will be odd due to the trade-in but this is basically what we will pay for the car.
So, how did we do?
Here’s what Fair Isaac, the company behind your FICO score, says about rate shopping:
“The score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So if you find a loan within 30 days, the inquiries won’t affect your score while you’re rate shopping. In addition, the score looks on your credit report for auto or mortgage inquiries older than 30 days. If it finds some, it counts all those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score.”
Did you buy the car already. where is this price from. If not sent me an eamil at ak_sale@hotmail.com I am planning to go in today to deal with the final price. Also send me your phone number as i can call you with the details after i get in there.
If a better price comes through how soon do you think you can make the deal, that will be useful in making the deal.
Regards
pack76
Could you please send me your quote, dealer,and person to talk to.
is the 31250 with TTL or without it?
My email adress is irany2002@yahoo.com
Thanks
Thank You
I have 2 other dealerships working on quotes for me, and I specifically said I wanted at least 1K under invoice. I didn't mention a trade in at all (I feel kinda' dirty about not saying anything....it was a bit of an outright lie on my part) and I said I'd have my own financing.
Here's hoping. I'll update you all as the numbers trickle in. In the meantime, what about this supposed incentive?
Where do I find accurate info?
Best,
Danielle
Also, make sure you note in the e-mail you are willing to drive to other areas or out of state. My two vehicles I bought were 200 miles away and the dealership knew if the price wasn't bare bones I would not make the drive. In one case the matching local price was only $250 difference but I still made the drive for the lower price and to honor their good pricing.
I just got pre-approved financing through my Credit Union at 6.65%. I have another app out to USAA to see what their rate is. If the rates for financing are less through Honda, is it better to go through them or stay with our instituion?
I'm sorry I keep asking questions, but you all are so knowledgeable and generous with your time.
Thanks again!
~Danielle
I'd strongly encourage you to follow txchix guidelines. Forget about negotiating with 1 Dealer period. (Nice, J Off, whatever you need to get more lines in the water)
1) Log into the Honda.com website and click on "find dealer" (DONT use the request quote button).
2) At that point, select "request a quote) after you have list of dealers.
3. Fill out your info. I wouldnt put a phone number down, you call them if you want...they don't call you.
Ask for the following:
- Obviously request model your looking for in dropdown.
- In "comments" section put something to the effect:
Would like an OTD (out the door) quotation on EXL RES. Please itemize charges: Base Price (including destination) only extras should be tax, title license. I understand that Honda is offering the special APR financing or the 2K dealer incentive. I would like your best price including the 2K incentive. Additionally, please include the color selection that you have available. I'm checking with several dealers in the area and will be purchasing in the next few days, so your promptness and bottom line is appreciated. (can cut and paste this in the notes).
- Press Send
4. Go Back to "find dealer" enter your zip and you'll get the same list. select 'request quote" by the next dealer and this same form that you initially entered will be available. just press send.
5. repeat to at least 8 dealers in your area if your in a metro area. I'd send to everyone. OMIT the Dealer that is the most ideal location to your home.
6. Sit back..your in the drivers seat.
7. Wait for quotes to come in.
8. You'll find out who's serious.
- some will give you HIGH price
- some wont respond (amazingly enough)
- a few will give you a pretty aggressive price
- you may end up with a clear cut low ball great price
9. Forget about the highballs and the folks that want you to call to get a price.
10. Reply back to the few that are low. Note that you appreciate their offer. That you have a few others that are right there and that you'd like to buy from them. Your making the decision in the next 24 hours. Is this your best price? (if you want any accessories, nows the time to ask for them). ALternatively, you can name a price to see if they can get there, personal choice really here.
11. Wait for your responses. Hopefully you should have a pretty good price (better than you have from your other guy).
12. Take the best quote you've got and email it to the internet dept sales person of the dealer closest to you and tell them you'd like to buy local can you beat it. If they match or beat and have your color choice go buy from them.
13. If not, go back to the person with best quote and requalify the details? "You have this color in stock and this price includes destination? Only Extra's are Tax, Title License? They reply in writing with a "yes", then call them and go pull the trigger sticking to the exact negotiated details.
13.5 When you show up. Drive the EXACT VAN you are buying. Make sure you like it, no rattles, etc. Inspect it for scratches, etc. Should be fine, but make sure. You've come this far, don't overlook final details.
14. Show up with your own financing as txchix notes and ask honda if they can beat it. If they can, go that route. If not, stick with your financing. Don't show up without financing or your likely to get the "best we can do is 8.5% routine. (for financing check e-loan and capitalone.com
15. Do all negotiation back forth via email. DONT GO IN until you have a deal. If you go in without a deal being done your prone to wasting your time or caving and not getting a great deal.
good luck.
16. Lastly, after putting the screws to everyone (who would otherwise be putting the screws to you)..do honor the final deal and dont try to pull the I'm here...throw in "this" and I'll buy. Im a personal beleiver in negotiation, but when you finalize on a deal...honor it and don't try to squeeze blood. Good Luck
Best,
Danielle Beaty
Correct. Get the deal in writing. Go to KBB.com and edmunds.com and determine the trade-in price point for the car. kbb is usually lower and is probably more realistic on this front but print both out and bring them with you. Go to Carmax and get a price that they'll buy the car. There's no negotiating here, they'll just flat out tell you what they'd buy it for and will give you a 7 day option. The key is that you have 7 days on their offer, so get you van price negotiated first. After you have the carmax offer, set that aside and go into the dealer that gave you the quote. Tell them you had a buyer for your car and it fell through. That you'd like to see what they can do on the trade. While they evaluate that, drive the exact car you'd like to buy. Find out their offer on the trade. It'll probably be a lowball. Pull out your Kbb/Edmunds trade in value data and tell them you need to get the dealer trade value to finish off the deal. If Carmax offered this price or close too it, you have them as a fallback. If the dealer you intend to buy from offers the same or close price to carmax (or better of course), take that offer and be done with it. NOTE: whatever you get for your trade-in is taken off the purchase price for tax purposes. So if you get 10K for your car, 10K is taken off the purchase price when they calcuate the tax you pay. Therefore if they offer $500 less then Carmax, it may be a wash when taking into account the taxes saved. Now if you don't get anywhere near dealer trade price noted in kbb or edmunds (kbb is lower and usually more realistic on this front) you have to make a decision if you want to take the hit and be done, shop around or try to sell the vehicle outright. You have more leverage without a trade, but the key is to try and optimize your damage if you do have one. Really depends on your vehicle type, year, condition, etc. but I generally wouldnt take $1000 less then dealer trade value or your getting the short end of the stick. Of course there's multiple variables. Some folks may have a terrible finance rate on the trade (if its not paid off) and just may want to get out from under it period. Or it may be unreliable and letting $1000 go on it may be worth it. It's all relative, so you have to weigh these factors.
Looking to get a fully loaded Touring (Nav+RES) but I'm still on the fence to buy an 07 or wait for the 08 to arrive next month. I have read the minor updates here: http://automobiles.honda.com/2008-odyssey/index.aspx and would love to wait until Thanksgiving or even end of December for better deals. To me the updates are worth the wait. But my question to you all is, considering the current incentives during Honda's clearance sale to get rid inventory, what kind of price difference can I expect between buying now and end of the year 08 model? I know this is all just speculation but based on historical mid-generation refreshening and considering a November/December purchase, are we talking about $4-5k increase, more, less??? I am in the SF bay area but willing to drive further (i.e. Los Angeles area).
TIA!
Charles
That may still not justify the high price they are asking for it... but my 2cents
I told Dealer B that I wanted an OTD price of 28,900. This is what he sent me back:
Danielle,
I appreciate the opportunity for your business. Unfortunatly I can not meet $28900. All regions of the country have different programs. Are's is $2000 dealer money. The invoice is 29604 + 595 for destination. Even if we gave up all the dealer cash I still would be way off from your figure.
28199
279.99
24.00
6.5
28509.49
1710 tax
75 county tax
36.35 tag transfer
2.00 lemon
30332.84 driveout
Hold back is 592.08 which is 2% of 29604. Not sure how $28900 is totally fair. If you for some reason it dosn't seem to work out at PC please let me know.
You said no games. You won't get any from us.
*****************************
Is this any good at all? I don't really understand much about hold backs, etc. And if the invoice is what the invoice is, no matter where you live, then how are ppl getting such better numbers than me? Granted, this is only the second dealer, and I have a few more options, which I'm working on now...but geez. I can't get anyone under 30K OTD.
Am I being unrealistic?
~Danielle
Holdback is money that the manufacturer gives back to the dealer after the sale (i.e., built-in profit). Although many still claim it's 3%, it was reduced to 2% in January and this dealer's email confirms that. Bear in mind that a dealer can get other money from a manufacturer based on sales volume, etc. We as consumers are not usually privy to such information.
Shop the quoted numbers with other stores in your market and you'll quickly get an idea how good it is. If this quote turns out to be the lowest, I would suggest countering at 30K OTD.