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2013 and earlier Honda Odyssey Prices Paid and Buying Experience

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Comments

  • jtinnjjtinnj Member Posts: 15
    After some haggling, and sales rep (name begins with H-A-R) agreed to come down to 32K OTD for an EX-L with NAV/DVD. When I showed up to sign papers, we took a stroll out to the lot to pick the car. He showed one without NAV, which he said was not included, despite a previous sit-down meeting with my wife and him and his manager. When I asked him about the EXL WITH NAV AND DVD, he denied remembering the conversation. The kicker is, he actually wrote it on a business card after the copier was "broken" the OTD price of 34,782. After our meeting, he called many times that week. He agreed to come down 2k (rebate) and then agreed to come down to 32 OTD (another 782) over the phone to get me in there. Then he pulled the bait-and-switch :mad: . Just wanted to share a negative experience. If anyone has had POSITIVE experiences in Philly/S. Jersey area. Please help. Looking to get 32 OTD-ish on an EXL-NAV/RES. Much obliged. All your experiences have been amazing thus far ;) .
  • pjjhawarpjjhawar Member Posts: 3
    I just bought around this price. 32.2 seems okay.
  • donkeypunch1donkeypunch1 Member Posts: 119
    It's good deal, but the dealer is still making money on holdback, incentives. Chicago folks, are you getting the EXLs around 25,600 and EXLRES around 27K WITH The honda 2.9 or 4.9 APR or is that strictly cash deals?
  • donkeypunch1donkeypunch1 Member Posts: 119
    Seeing some good values these days. If your going in on the action, please do yourself a favor and look at the ENTIRE deal. I have a hunch some folks are quick to point out the OTD price but fail to mention the financing or the trade-in price. Ie, if you pick up at EXL for $25,200 including destination +TTL, you can be the champ of the hour. However, if your getting that price and trading in a vehicle but fail to mention such, as well as some details on the trade, you could be paying too much. Ie, if the dealer knows they can unload your car to a wholesaler or another auto group sight unseen for 16K, their likely to tell you there's a surpless of such vehicles, the gas mileage is killing reslale, blah blah and offer your 12K. After much back and forth you get them to 13K with a purchase price on the new EXL for 25,400 including destination. On face value, it may appear like the dealer is selling that van to you for a loss, but in reality their making 3K by pushing paper on your trade. Additionally, it appears like some folks are getting a "good deal" on face, and then realizing that they had 800 credit rating and they signed papers for 8% APR when honda's offering 2.9 or 4.9. I'm not suggesting this applies to everyone, but I'd bet there's more than a few cases where folks are leaving money on the table or thinking they did outstanding, when it was fair to modest at best. Do yourself a favor and look at the big picture. Additionally, in fairness to others that are squeezing for the perfect deal, note if you traded a vehicle with the deal and some details on such. If you paid cash or financed, etc. Not suggesting this to bum anyone out. Just so that others looking can understand the full picture and real market.
  • franklingt3franklingt3 Member Posts: 17
    Do not waste your time at Burns.

    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!!
  • vaniscoolvaniscool Member Posts: 15
    I purchased the EXL-NAV-RES at 29.7K + TTL = 32.5 OTD. Small racket was a preinstalled dealer option "Karr" security alarm which I hadnt accounted for and had to shell out extra which was annoying. [The dealer offered to deactivate it though in case i didnt want it] Purchased at Capitol Honda, San Jose. In general, their business managers are pushy on options and extd warranty. But they honored the price they promised on the internet and on the phone. Hope that helps ... happy van buying
  • anaky1220anaky1220 Member Posts: 14
    My address is benrott12201998@yahoo.fr

    Thank you
  • tchixtchix Member Posts: 6
    I totally agree- especially on the trade-in. But regarding the financing, although folks have said it isn't so on this board, I havent seen any proof that you can get the financing and the 2000 incentive. Both the financing and the incentive are "bait" that Honda is offering to help the dealers sell the Odysseys. Honda can (and apparently is) make the dealers choose which one the customer is going to get- and the dealers pass that choice onto the customer. Although I have heard some people on here say that "they can't do that if you have x, y, and z credit score" i havent seen any explanation why that is or anyone who was able to, in fact, get both. It seems to me that it is certainly within Honda's rights to say that they will not offer the 2000 dealer incentive for any car that is sold and financed using the promotional APR. But I'd be interested to hear everyone's theories on why they couldn't do that- and if anyone has actually gotten both...

    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.
  • junedadjunedad Member Posts: 5
    Hi I am also in NY area. Could you please tell me your dealership information? Thanks!
  • biofreaks3biofreaks3 Member Posts: 5
    Grace Honda in San Bruno. Their internet guy is young, but easy to deal with. Ask for a quote over the internet or just phone the guy. It also helps if you have Serramonte Honda in Daly City compete for your business. These guys hate losing to each other. Good Luck.
  • zuraxuszuraxus Member Posts: 14
    For almost that money I got my self '07 EXL with Navi and RES, I paid 29800 destination included + TTL, I wanted in white color so since they did not stocked I had to pay additional $400 to bring it from other dealership.But in overall it was very good price and so smooth transaction, no gimicks and pushing. NJ
  • epalaciosepalacios Member Posts: 2
    In the SF Bay Area: I just picked up an EX-L RES+Nav in Los Gatos for $29800+TTL, and I made them drive to livermore to get me the dark red color. Probably could've chipped them down another $100 if I'd started walking to my car or taken something on the lot. They've got 40+ on the lot and more coming in--they gotta move em.

    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.
  • zismezisme Member Posts: 1
    I just wanted to warn everyone out there of Ourisman's business practices. They bait you with a low price and then try to con you with a $1495 appearance package that you must buy. Worth about $300. Be careful of Ourisman Honda of Laural!!!!
  • jonfrasierjonfrasier Member Posts: 20
    I've been using 3% of MSRP for holdback in my negotiations with dealerships in NY/NJ/CT/PA and none of them have disputed it.

    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.
  • naveenknaveenk Member Posts: 2
    Base price: $29806, $32440 OTD. NO OPTIONS BEYOND THE STANDARD. Floor Mats were included.

    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.
  • vaniscoolvaniscool Member Posts: 15
    I got first time quotes from South Bay Honda (Los Gatos) of $30.5K + TTL and few others. Finally I got $29.7K + TTL = $32.5K out the door from 2 dealers in a price match situation and picked Capitol as they are closer. I focused on the out-the-door price as who knows what fees they add-in.

    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...
  • vaniscoolvaniscool Member Posts: 15
    I am trying to find out to what extent the options added by dealers can be negotiated.
    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
  • cccompsoncccompson Member Posts: 2,382
    Like everything else related to an auto purchase, the particulars of dealer installed accessories are negotiable.

    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.
  • kyeliskyelis Member Posts: 2
    $25700 + tax + DMV
    $699 for Back-up Sensors
    Total OTD $28913
    No Trade in. No finance from dealer
  • jtinnjjtinnj Member Posts: 15
    Thank you Franklin. I can get to Burlington. Would you recommend speaking with any i-net rep in particular? If you wouldn't mind emailing his/her name: jtprof at hotmail. com

    Nice work. That's a great price for a Touring.
  • dandyliondandylion Member Posts: 3
    I was originally trying to get a touring, but hubby nixed that. We ended up with EXL-RES for OTD price of 28,900. No trade, we did finance at 5.9%. I feel like we got a good deal for our area.

    The price was 27019.00 Tax, Tag...
  • kwma3kwma3 Member Posts: 11
    kyelis, can you let me know which dealer and who you work with to get this deal? I am from the Bayarea and shopping for the same model. thx.
  • kyeliskyelis Member Posts: 2
    I got it from South Bay Honda Los Gatos. Send me an email to krishna_ysr at yahoo.com. I will let u know the details.
  • danielle29danielle29 Member Posts: 8
    I've been dealing with an internet guy while pricing out an EX-L with RES. He gave me a quote of $28,801 according to TMV here on Edmunds. That wasn't including the doc fees of $495, & Tax, Tag, Title business. He said he can do it for $29K w/o any problems, but anything under invoice has to be approved by GM/GSM or Sales Manager. Is that just a load of hooey or is he being honest?

    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. :blush:

    ~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!
  • ed_ph413ed_ph413 Member Posts: 17
    Danielle,

    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
  • tchixtchix Member Posts: 6
    Danielle,

    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!!
  • georgia_piggeorgia_pig Member Posts: 2
    Will be getting one in the next few days. Got an internet quote of 28,299 w/o TTL for EX-L w/ RES from Duval Honda in Jax. I think I can do better. Deal breaker will be the finance rate. Best so far is 6.64%. Anyone doing better?
  • tchixtchix Member Posts: 6
    2 weeks ago:

    eloan 6.25% (still at this rate)
    credit union 6%
    Honda 5.94%
    all for 60 months... and of course depends on credit...
  • georgia_piggeorgia_pig Member Posts: 2
    Thanks for the reply. Its hard to shop for decent rates without the credit inquiries. Probably have to take the best rate with me and see if the Honda rate beats it.
  • fumesfumes Member Posts: 11
    Nimbus Gray EX-L Res, Splash Guards, Wheel locks.

    $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?
  • tchixtchix Member Posts: 6
    I dont know if you know this already, but if you are shopping for a car loan (or a mortgage) all of your credit inquiries for that type of loan are only counted as one credit "hit" as long as they are all within a 45 day time frame. So it doesnt matter if you shop around - it wont negatively affect your credit score:

    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.”
  • rj2007rj2007 Member Posts: 3
    We brought 07 Honda Odyssey EX-L RES+Navi yesterday in south florida for 31250.00 OTD. :shades:
  • pack76pack76 Member Posts: 10
    fumes

    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
  • junedadjunedad Member Posts: 5
    So, can you tell me dear information?
  • intradeintrade Member Posts: 11
    rj 2007,

    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
  • mcmanmcman Member Posts: 8
    Hi does that include sales tax and everything else?.
  • obrien040362obrien040362 Member Posts: 134
    What are the odeysee 2007 EXL Going for these days. Are they under 27,000 + tax yet?

    Thank You
  • danielle29danielle29 Member Posts: 8
    Thanks everyone for the help. I've been comparison shopping like you mentioned and according to the searches online, there is no 2k incentive for this vehicle. Is this not true? I sent the email back to the first dealer mentioning the incentive, so I hope I wasn't wrong. I'll sound like a clueless woman.

    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
  • basketbbasketb Member Posts: 19
    May depend on where you live. In the S.F. Bay Area I got initial quotes for less than $26500 +TTL. Some even less than $26000.
  • obrien040362obrien040362 Member Posts: 134
    I think the better tatic is to figure out the price and just make the offer. So if the invoice less hold back less incentative is 26,200 and there is confirmation people got this deal just say my offer in 26,200.

    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.
  • danielle29danielle29 Member Posts: 8
    That's good advice too. You all have been extremely helpful to me, you have no idea! I have learned so much about car buying and I don't feel like a helpless consumer anymore.

    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
  • donkeypunch1donkeypunch1 Member Posts: 119
    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
  • danielle29danielle29 Member Posts: 8
    That was a wonderful post. Thank you. I will let you know how it turns out. Oh, last question, I swear. Once I get them agreed on a fair price, I need to get it in writing and then spring the trade in on them? How do I go about doing that part?

    Best,

    Danielle Beaty
  • donkeypunch1donkeypunch1 Member Posts: 119
    That was a wonderful post. Thank you. I will let you know how it turns out. Oh, last question, I swear. Once I get them agreed on a fair price, I need to get it in writing and then spring the trade in on them? How do I go about doing that part?

    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.
  • ultfamcarultfamcar Member Posts: 18
    Hi Everyone,

    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
  • vaniscoolvaniscool Member Posts: 15
    I investigated the alarm situation and the summary is that Honda Ody has a very basic security system (pg 290 of the 2007 Ody manual)....only works if someone tries to open the door. Supplemental alarm (KARR) in addition to Honda puts a shock sensor and enhaces the security

    That may still not justify the high price they are asking for it... but my 2cents
  • danielle29danielle29 Member Posts: 8
    Alright, for those of you who have been kind enough to help me along the way, I'm so swimming in numbers now, I'm not even sure what's good at this point.

    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
  • jtinnjjtinnj Member Posts: 15
    That is an amazing price. I'm down to 32,5K OTD in Philly. You did really really well! Wish I was down there to piggyback on your deal! :)
  • cccompsoncccompson Member Posts: 2,382
    So the invoice here is $30,199 and they're offering to sell it for $2000 less (giving you their incentive) plus whatever the $279.99 is for (and other small charges).

    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.
  • donkeypunch1donkeypunch1 Member Posts: 119
    For what model?
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