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Comments
Which dealer were you at? Mine???????
1999-2004 ('03 was updated)
2005-2010 ('08 was updated)
2011 (of course, sold Fall '10) may be the timeframe. siennas & odyssey are usually off 1 year (the next gen Sienna should debut first).
I what color is the Touring - non Pax in Wis, I'll bet it's white or silver?
Thanks for the info.
What is the breakdown of Taxes, Dest, fees and extras?
+ TTL $1936
I didn't get the breakdown for base price + Dest. All i got is those two numbers.
We got an extremely aggressive offer on a 2008 EX-L w/ RES just yesterday for $27,477 + TTL from a local dealership. We didn't want the RES and really didn't want to pay the $1500 premium for it so we declined. My guess is the offer is no longer valid today.
No biggie, although I feel for the dealers who are still holding 2008 models (there still appear to be a few floating around here) as they are now more expensive than a 2009 model. I'm sure those dealers are NOT amused.
Thanks for the update mplshondadlr.
Where did you find the new march incentves for 2009 odyssey?
Thanks
Sudha
Mplshondadlr is a dealer, and gets it straight from American Honda. As good info as it gets. Thank you for posting this info, MplsHD.
Thanks!
Quick question ...what is the "RES"?
I'm in the market for a used 05' - '07' Odyssey with certain options, but I don't know what 'RES' is. And Google hasn't been helpful so far trying to find out. Thanks!
Thanks in advance.
Honda Odyssey EX-L with RES (Rear Entertainment System.)
$34,755 MSRP
$31,481 Invoice
- $695 2 % holdback of MSRP
- $2,500 Incentive paid to dealer (March 09)
$28,286 Dealer actual cost for vehicle
+ $1,414 - 5% over dealer actual cost for vehicle
+ $600 Destination Charge (I don't factor 5% on a fee Honda corporate charges the dealer)
$30,300 Offer / Gross Cap Cost
Additional fees will/may include:
Dealer conveyance (mine charges $329.)
Title & License transfer $150
Lease acquisition fee $595 (AHFC standard fee)
Taxes: This can vary per state on what is taxable but rough estimating using Connecticut. $1818 for 6% sales on Gross Cap Cost if purchasing outright. If leasing Gross Cap Cost - Residual X Sales tax then Divided by number of payments. Tax is added into each monthly payment. I don't know the residual for EX-L, but figure ~50% of MSRP is $17378 this would add around $35 per month for 36 month lease.
Caveat: check figures yourself. I'm an Literature major...
Thanks.
"+ $1,414 - 5% over dealer actual cost for vehicle "
not sure exactly where you get these figures and what they mean? Thanks.
Should I pull the trigger at this price?
2009 Honda Odyssey EX-L
MSRP $33,725
Our Price $27,265
Dealer fee $599
Tax (at 7%) $1,950.48
Tag/title/lemon law fees $21
Total drive-out $29,835.48
They originally offered "The Special Fleet/Internet Sale Price" $25,000.00.
After my question about $3500 incentive they lowered it to $23,626.00.
I guess this is an early 2008 model because destination fee on the sticker is $635.
Later models have $670 for destination. Invoice is $26899, minus $3500 = $23399.
They have 6 2008 Odysseys from 12 in the whole state (AZ) and still want over invoice. They had the same 6 in January.
I was offered invoice minus rebate ($24200) on the spot during Sienna test drive
(2009 8-pass LE VP2 + mats), so I guess I will wait for better rebate on Sienna and go that way.
Since there is no national program I am just looking for an answer. Thanks.
All in all, I'd rather have the Honda as there are no real options to be added. Looks like I'm in the market for an EXL NAV/RES. Found a credit union that will give me 4.24% for up to 5 years. Overall, not bad. I was hoping for a 1.9/2.9/3.9 deal out of Honda, but I'll have to settle for invoice less $2500.
In Arizona it is 1500 rebate and no APR offer.
In many other places I checked 2.9% APR or 1000 rebate. In some places they could be combined. Sacramento has 1000 rebate or 0%
http://www.buyatoyota.com/
I did not see any APR offers from Honda.
All they have is 2500 cash to dealer for 2009 Odyssey or lease.
I took that price to the local dealer and got the following: any in stock EXL w/ RES to you for $29,716.00 out the door. This price includes mud guards, wheel locks and pinstripe.
I'm thinking this is the best offer I'm going to get. Any thoughts?
Also, I just did the calculations for the EX and LX, and it appears people on these forums are getting offers lower than what is calculated (by your method) as the actual dealer cost. For example, consider mom28 got an offer for 2009 EX for $23,557. According to your calculations the EX would have cost the dealer the actual price of $23603. Have I done something wrong?
2009 Odyssey EX:
$29,455 MSRP
$26,692 invoice
-589 2% dealer holdback on MSRP
-2500 rebate
23603 Dealer actual cost
I probably should have denoted it as:
+ $1,414 = 5% over dealer actual cost for vehicle
(BTW the dealer destination charge should be $670. I mistakenly had it listed as $600.)
Edmunds Dealer Holdback
I can't explain sale prices at less than actual cost. Edmunds states, "the standard dealer holdback is not the only form of financial assistance provided to dealers by manufacturers." Maybe mom28 was the van that made the sales quota late in the month?
From my perspective, it was the occasional extreme high and low sale price that made it difficult to calculate a reasonable sale price. I felt a lot better when I quit trying to follow everyones accounting of true sales price versus OTD price with trade-ins, cash cap cost reductions, accessories, taxes etc.
For what it's worth, 5% over dealer actual cost matches closely with prices reported from Edmunds TMV (True Market Value.)
Odyssey LX: TMV = 22,627, 5% over dealer actual price = 22,506
Odyssey EX: TMV = 25,383, 5% over dealer actual price = 25,409
Odyssey EX-L: TMV = 28,815, 5% over dealer actual price = 28,749
If you want an easier way, these figures also appear to be ~15% off MSRP or 5% off Invoice.
Your method is fine. But your number is at high end than the quote/price people posted here. It seems dealer is more willing to give at least 1000 more than that. I am wondering if that involves extra volume discount etc.
Regard
HB
I do wonder what's causing the variance. Some sale prices seem to be as much as $2000 lower. On the surface it seems like there is more transparency to the process, but I still very difficult to quantify an approximate dealer actual cost.
I don't want to lead anyone into paying more than they should for their car. My idea of best current practice looks something like:
1. Calculate your purchase budget.
2. Get as much information on current incentives, rebates, financing & dealer kickbacks.
3. Average a few of the lowest sale prices for car's similar to the model you are considering.
4. Create or find your own worksheet for recording true sales price, fees, taxes etc.
5. Price shop dealers aggressively by internet 1st, and phone if necessary.
6. Reference the figures and terminology to let them know you are informed. Only go with a dealer you find is straight forward and doesn't [non-permissible content removed] or lie.
8. Never let your guard down or consider the deal finished until the contract is signed by both parties and the keys are in your hand.
9. Be happy and enjoy your car.
Just my thoughts
What happens to cars that are siting on the lot for over a year and not sold?
The dealer's fleet department still wants invoice minus rebate (after I reminded them about the rebate) even that they did not sell any of remaining 2008 for over month.
They even giving me invoice ~$300 more than on edmunds.
My dealership here in the Twin Cities, just found that our allocation for the next 90 days is going to be half of what it was last year. As a result of fewer available cars to move, we have raised our prices to relflect the current suppy situation. Ground stock, while still high, is not being replaced with fresh inventory from Honda. In fact, based on my research, I have found that three out of the remaing five metro area dealers have also raised thier prices - including the number one dealer here (we're number two).
I suspect that as more and more dealers become aware of allocation flow decreasing, you'll see price begin to rise once again. It's just a theory though.