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Comments
There is a breakeven point in your figures, you just have to see where that is, and balance it against the chance that you'll still own the vehicle at that point.
So... it's only cheaper if you keep the vehicle past the breakeven point.. In the example above, I think the breakeven point is around 27 months.... Probably better to take the lower interest rate, in this case...
regards,
kyfdx
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08 Touring
$34,000 base + dest w/$2000 dealer incentive
$35,000 base + dest w/$1000 dealer incentive and 0.9 financing
+ $1,050 sales tax + $10 title + $44.50 tags
$35,104.50 - $11,000 = $24,105 at 5.0% for 3 years = 36 x 722.43 = $26,007.48
$36,104.50 - $11,000 = $25,105 at 0.9% for 3 years = 36 x 707.06 = $25,454.16
$26,007.48 - 25,454.16 = $553.32 - $30 less Virginia sales tax = $523.32 less with 0.9 financing
Does the below offer sound good for a Odyssey EX-L ( NO NAV and RES)
W/RATES ( 0.9% - 36 months or 2.9% for 60 months )
2008 Honda Odyssey EXL $28,292 + tax and license
***Destination include
Doc : $55
Tire Fee: $8.75
License: $283.56
Tax: $2,219.55
OTD: $30,858.86
W/O Rates ( Cash down or finance from an outside bank)
2008 Honda Odyssey EXL $27,292 + tax and license
**Destination included
Doc: $55
Tire Fee: $8.75
License: $273.56
Tax: $2,141.27
OTD: $29,770.58
Shall I be negotiating more.. My budget is around 29K OTD.. Is that achievable ?
If Yes, what else can I bargain for?
Any one from the San Diego , LA area bought a 2008 odyssey EX-L recently ? If Yes, what's the best price you guys got ?
Please help me decide.
Thanks
Thanks for the tip. I setup a spreadsheet to see where the breakeven point is and it's right around a $8,500-9,000 down payment that the two become even with a 4.9% rate.
Is this reasonable.
Will get Honda care through Bernardiwarranty.com. It seems like people haven't had problems doing that and no negotiating necessary!
Thanks for everyone who posted.
The money factor is .00077,
The residual is 57% of MSRP equalling $16869.15.
MSRP is $29595
Invoice is $26864.24.
Dealer says hes at a $26815 selling price roling in 1st payment, bank and licencing fee's.
Said payment with tax approx 349
Worth taking or should I be trying for something more?
1. Only dealer in town who does not add unwanted "required" accessories and BS like vin etching, propack, and the like...
... Gillman dealers add 700 to 900 dollars of unwanted addons (pure profits) to every vehicle and refused to include any portion of the holdback. Salesman were polite.
... Goodson dealers were ok, but push a "lifetime warranty on powertrain" with every vehicle, which unfortunately is full of bullet holes and is simply a marketing gimmick. They also were $1000.00 more than most other dealers and were forcing the propack on top of the price.
... Honda Katy dealer were VERY aggressive and ran me out of there after the first offer. Salesman should learn to listen to the customer, not talk down to the customer like we are ignorant and full of "Edmunds" misinformation.
... McDavid dealer was genrally good on the base price, but again had a bunch of dealer addons that I did not want with high markups. Salesman had a bit more sly factor... lots of double talk to confuse you.
I did not visit the dealers on the north side of town.
2. R&S was only dealer who gave me their best price on the first email request and did not try to change it .01 cent once I arrived. In fact the end OTD price was $60.00 less than quouted.
3. My salesman at R&S - David Bentsen. He listened, was not forceful or rude, really did make efforts on my behalf to the sales managers, with positive results. Very nice to work with.
4. R&S Finance was low pressure, presented my choices and accepted my answers... easy.
5. My only negative comment on R&S is they did not wish to haggle on accessory prices, but thats ok and not a deal breaker for me.
My deal with R&S
EX-L (no accessories, I will get what I want online for less)
$27,390 incl. Destination
1711.85 tax (6.25%)
236.79 T&L&Doc
29338.64 OTD
Free full tank of gas, 90 days Sirius/XM, first oil change
I think It was a fair deal. Any feedback or comments appreciated.
1st off, congrats on your new Ody! Looks/Sounds like you did a thorough assessment of the local dealers. Can't comment on your particular deal, b/c we bought a Touring. But we did purchase in Houston. I guess my only question is: Shouldn't you have been able to avoid all the issues you encountered (pro pack, aggressive sales, talking down, back & fourth with "my mgr", etc) by simply getting the driveout numbers up-front from the Internet Sales Mgr? For us, we simply exchanged emails on the final driveout price we were paying, took that info to the dealer, wrote the check, was shown the features, and drove off. Spent MAYBE one hour at ONE dealership total. That said, we had driveout numbers from 10 dealers via email.
Of course, if you visit all these dealerships in-person, off the street, they are going to pull all kinds of shenanigans (as it sounds like they did). But the emails up-front are supposed to eliminate all that. Did you not find that to be the case? Coincidentally, we purchased from Gillman SW, and all went smoothly, with no surprises. MSRP = $40.6+ttl / Invoice = $36.8K+ttl, and we paid $34.2K +ttl. They even "threw in" for free 3 extra wireless headsets for the RES ($240 value)
<<<<
We paid $27,793 for our 07 that admittedly had been on the lot a
*long* time. It's clear my guy was only able to start so low by using
up much of the dealer cash ($2K)....consider that his base included
dest/doc/security etching etc which total anywhere from $500-$1400
depending on the dealer. Keep in mind also that I emailed every
dealer in Georgia and some in TN and AL. The lowest price anyone
else had gotten in GA for an EX-L was $28,300 OTD (everything that I
wanted/needed incl same salestax 7%)....so that's where I started. I
would have been happy to get it.
Checking for 2008....no on has gotten below 28,500 OTD (eeeeeverything
included). Most are closer to $28,600-900 and up from there.
Invoice matters less than various other factors like dealer cost, holdback, dealer
cash, special financing, various quotas for dealership, sales person
etc. It's clear that there are a variety of factors b/c what one guy
might be able 'to do', the next guy can't even come close (couple
thousand off)
Back to our buying experience.....
Of the alllll those dealers we emailed, one came in $507 lower!!, one matched, one came in $15 up. The rest were much much higher, or didn't respond at all. I had started with the $28,300 b/c that incl the lowest price i could find that an 07 exl had sold for, plus our tax at 7%, title ($18)and lemon law fee ($3).
Currently you can get either
1)$2k dealer cash which gets your price lower
OR
2)$1000 dealer cash and the special financing. Not both.
if you want to start with base, my final price would have been itemized as
$25,955.00 (base incl destination, doc and any other misc fees - ie
security etching, cargo tray, wheel locks, muds)
$ 1816.85 (7% for dekalb and fulton)
$ 18.00 title
$ 3.00 lemon law
------------------------------
$ 27,792.85
You'll have to accomodate for increases in 08 I'd start with an OTD price
of $28,300. Four guys on the ody board at edmunds were trying to
collectively buy four odys at the same time for $28K each. No one
would bite. No one. Not even to see four at the same time. So that
price is currently to low. Don't want to go toooo low b/c then they won't even
respond. Heck, my $28,300 for last year was vv low and 80% couldn't
come even close. I'd wait till the end of the month if you
can.....The four who were buying together ended up going their own
ways....one just bought at Gwinnet for $28,6something. The lowest
I've seen on the pricing boards is $28,500 OTD. If you can beat that,
you've done very well.
The next post will contain the email I sent out
price, the price your'e paying 'out the door'. many dealers and
others will erroneously use base price as 'out the door' and try to
add things on to the 'out the door price'....this is why it's
critical to clarify that you want 'out the door' pricing AND what you
want that price to include and in what format. make sure your'e
comparing apples and apples. Deal only with a fiinal "OTD" price with
all taxes, fees included in the final number. Reiterating that any
suprises from that number will effectively cancel the deal. If you
start with base, difficult to compare b/c all dealers add on different
fees at different rates.
Go to the honda website. Use *find a dealer* feature, not the
'request quote'......find the dealers, then for each dealer, use the
request quote feature:
- model you're wanting (ex-l no res no nav)
- In "comments" section put something to the effect:
Would like an OTD quote on EXL Odyssey(no res, no nav) taking into
consideration the 2K dealer
incentive. Will call immediately with a deposit to the best OTD quote
guaranteed in writing, that has 'x' color available. Trying to get to
$28,300 OTD or as close as possible. Please respond with your most
competitive compelling quote as we're ready to go right now.
Please itemize charges as follows:
Base Price (including muds, cargo tray, security
etching)
+dest
+doc
+tax
+title
+license
+any other possible fee that might be relevant
____________________________________
Total Out the Door, Driving Down the Road Price
We are checking with all of the dealers in Georgia and will be pulling the
trigger asap on the best OTD number from a dealer willing to guarantee
the quote in writing. Distance from Atlanta is not an issue if the
price is right (taking into consideration the cost of the trip).
Your promptness and bottom line is much appreciated.
__________
Before you send the email, be sure to copy so you can 'paste' it when
you email the next person.
~~Repeat for all dealers in the state.
For a price that's great, it's worth the drive, or if they're that
desperate, they'll drive it to you (or at least meet you half way).
Also, I'm willing to make more of an effort if someone is willing to
make the effort (pricewise) for me.
~~many will try to get you to come in and will refuse to give
numbers at first (ignore...cross off your list
- some will give you HIGH price (the Alabama dealers, Nalley and
some others)
- 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
~~Forget about the highballs and the folks that want you to call to
get a price. Keep the emails so you can respond later and tell them
the number you did get.
~~In our case, 28,300 was the lowest known price *at the time* for
what anyone had pd for
for the ex-l OTD. Our 27,793 was a clear cut lowball price that made
it worth the drive to Gainesville. I emailed back the rest of those
that had responded to tell them we had a deal in Gainesville but
'thanks anyway". If i recall correctly, three matched it. One beat
it (honda mall of georgia) by $25 and a gas card but by then i felt
like it was important to take the first deal since he was so *willing*
to deal from the get go with no hassles.
~~Email back your best price offer with "You
have this color in stock and this price includes dest, doc, tax,
title, licence, lemon law fees etc etc etc? There will be no suprises
when we come into sign? B/c that would be a deal breaker. Please
respond with
written verification and include VIN. Upon receipt of verification, I
will call with a deposit. They reply in writing with a "yes", then
call them and go pull the trigger sticking to the exact negotiated
details. One detail of our *extremely* low price was that they
wouldn't take a credit card for any part of the deposit. It was
cash/check/financing only.
~~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. Will send you another email on this from odysseyclub.com
There have been paint issues in the last few years.....quality control
stuff from the Talladega, AL plant;/ My whites are *slightly*
different on my bumpers than on the rest of the car. But most would
not notice it.....and for the great price, i can try not to notice it
too:)
~~Show up with your own financing ask if they can beat it. If they
can, go that route. If not, stick with your financing. Don't show up
without financing or you're likely to get the "best we can do is 8.5%
routine. (for financing check e-loan and capitalone.com, lending tree
and USAA (if you have access) and any local credit union.
~~Do all negotiation back forth via email. DO NOT 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. The biggies
that they try to
add on of course are 'dealer protection package' (don't let them
charge you for it....they've almost always already done it but don't
let it be on your dime),
security etching (it's already done, they're just wanting to charge
you to transfer the information), a different destination or
documentation fee (nope, we already rolled that into the price but
thanks for asking:))
****We did get the extended warranty even though that's not something we
typically do.....you can check prices at bernardihonda.com whomever
you buy from will price match. she also wanted us to pay for it in
full up front or roll it into the financing....but I also knew about
the free, no fee financing that they have on that and knew to ask for
that....so that's being pd for over a couple years with no interest,
no charges. Print out the price sheet from Bernardi and the free, no
financing offer info so you have it. The dealer did price match so we
bought it from them.
******We did get Weathertech liners to protect the carpet.
www.autoanything.com/floor-mats/64A2002A0A0A.aspx
Although I have absolutely no use for it, your Dodge is ALOT of vehicle for 12 grand.
ways....one just bought at Gwinnet for $28,6something."
cillakat, i don't know where you get your info but the 4 Ody buyers you're referring to are still looking. just wondering where you got your info. :confuse:
Thanks for your detailed email. It helped me a lot.
Following your suggestion, I got a deal of
- 28887 OTD . I asked the dealer if this deal is with 2.9% and he replied if you are qualified why not ?
That is kind of fishy I thought, because You either have a 2K dealer incentive offer or 1K with 2.9% financing.. He was neither confirming it or denying it.
After the deal was agreed on the phone, he called me to say, "OH , we don't have a black odyssey, can you take Silver " . That pissed me off ..
So I went to another dealer with the above price and 2.9% financing. They couldn't believe it . They said they couldn't beat it and challenged me that price is Without special rates. They said they can match it if I have my own financing.
And if I wanted 2.9% financing, then the bottom OTD they offerred is 29955. (includes everything) .
Does this seem right or do you think I get the 28877 Price with 2.9% financing.
The Price of 28300 you gave , Is it with special 2.9% financing or without ?
Your response will help me whether I should take the offer from the second dealer or not.
Also I called the first dealer and asked whether he could order a Black odyssey for the same price he quoted (28877) earlier. He said he will, but somehow I am not willing to believe him. What do you think ?
Your response is appreciated.
Thanks
Ibrahim
Bought from Hokie Honda in Christianburg VA for $35,438, including dest, doc fee, mud guards and a pretty pin stripe. That's with 0.9 financing for 36 months. Of course I could have had other financing and a price of $34,438. But even with an $11,000 down payment, the 0.9% is $500 cheaper over the three years.
That was not the cheapest price, but the others were 2 to 2 1/2 hours away and didn't have the mud guards and pin stripe.
I would recommend Hokie Honda, Asheboro NC Honda at $35,240, Rule Honda in Staunton VA at $35,261, and Honda of Lake Norman NC at $35,341. Good prices and good people. At least thru e-mail.
I tried all the dealers in Richmond, Winston/Salem, Greensboro, and Charlotte, and none of them were competitive. One or two were downright ridiculous. The only one that I think was playing games was Hendrick Honda in Charlotte. They actually had the lowest quote at $34,946, but their quote didn't reference the 0.9% and when I asked them about it, I never got a response.
Anyone close to western VA and in the market for a Touring, try Hokie Honda, they had 7 non-Pax Tourings out of a total of 34 Odysseys.
Again many thanks to this forum, I know you saved me money, I don't know how much, but the Edmunds TMV is $35,993. If that's the average selling price, not including accessories, and I'll bet that most people take the $2000 rather than the special financing, then there's a lot of people paying a lot more than the posters on this forum.
Thanks from one happy Hokie.
Thanks
I am interested in the reply as well. I received a quote of 27,300 before fees/ttl at David McDavid but they would not do the 2.9% financing. They made me "mad" as well because they added ~1k worth of options that they wanted me to pay for to the "no haggle" price. I have sent emails to different dealerships and am awaiting responses. After reading these forums, I am curious as to if anybody else is getting close to the 28, 500 OTD price as well and at what financing? What is the best price that somebody has gotton with the 2.9% financing?
K
Kellie
I am located in Maryland in the Washington DC area. I receive a OTD price for EX-L (no RES, no NAV) of $29,500 with 2.9% financing. I am trying to figure out if this is a good deal and I wanted to know if your initial price was eligible for 2.9% financing after all.
Thank you,
Bogdan
I used the donkeypunch method for the most part, although we went in to the local dealer to start with (we weren't settled on the Odyssey). Everyone we emailed basically came in around the same price. Some budged a little when I did the second round, but most didn't even reply.
Found this on the web:
Rebates & Incentives
Honda Rebates and Incentives
Model Year Rebates & Incentives Type Expires
Honda Odyssey 2008 $2000-$3500 dealer incentive. Dealer 06/30/08
If this is true, has anyone been successful at getting the $3500 dealer incentive? I have seen members post $2000 dealer incentive but am not sure if anyone was able to get $3500.
Actual link:
http://consumerguideauto.howstuffworks.com/new-car-rebates-incentives.htm
Select Honda -> minivan.
Sincerely,
- Henrik
How do people do this procedurally? Say I found my deal. Agreed on price. I have the cash in the bank, but how do I get this to the dealer? I cannot get a certified check without going to the bank (a hour or so away due to my location). I cannot get a certified check ahead of time since I do not know the best deal I will get. I guess I could carry cash, but 30K seems like a awful lot of cash to carry around.
I will ask the dealer directly, before I head out, but I wanted to know how others have done it in the past. Personal checks? Direct bank transfer?
Trying to get an idea of what I can expect/ask for.
Sincerely,
- Henrik
Doc $250.00
Temp Tag $10.50
Taxes 7% = $1,988.00
Licence Registration $5.00
Total OTD Price $30,653.50
Take $1000 Cash with 0.9% for 36 Months
What do you guys think about this? Can I do better?
The best price I got was from Russell and Smith in Houston. EXL no res for $27500 +TTL.
And when will they be getting 09s? Sept or earlier?
Drive off 654.35
Payment 359.17 + Tax
Selling price: 27388
MF: 0.00077
Residual: 18393
Dealer will pay 250 on my current van lease so I can get this Odyssey
Have had a great buying process so far with Peter's Honda. We're hoping to take delivery tomorrow night.
We have an Acura MDX we're replacing which was my dream car when we bought it 6 years ago... prekids when we had a lot more cash to waste and a lot more time on our hands! I hope we love the Odyssey as much as we've loved the MDX.
I am seeing some good pricing from some folks on this forum and other forums for seattle area. The best that I am getting is 28190 (+TTL - no extra options). I suspect that I am in the right range but it appears that quite a few have done much better than this.
Does anyone have recommendation for a seattle area dealer where they got a better price, and mention the price?
You can mail me at moodybaaz [at] hotmail.com
Thanks,
Moody
We took the deal to Norm Reeves Honda in West Covina,,, another waste round-round of a rookie salesperson, finally a week later ask the Norm Reeves Honda Fleet dept.in Cerritos they are willing to take Sierra Price + Wheel Lock, Mud Flap, All weather Mat for $36,380 Out of the Door...Finally we got our 08 Silver with a dark interior... and no RFT hope they van will last for a while...
i just got some quotes from the dealers. this one is the lowest so far. it's a little disappointing since i think i was expecting it be much lower with memorial day weekend coming soon.
"$30,453.31 + $0 Destination + $55 Doc + $8.75 Tire fee + $266 license + $2516.94 tax = $33,300 OTD the car is in-stock !!!"
we live in northern california with 8.25 % tax. is this okay or how can i go for a lower price? any suggestions will help.
thanks a lot!