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Here are some tips I learned.
0. Use this forum on Edmunds.
1. Do your homework. Since the first date of the launch, I have bookmark the inventory link to all the dealership in the area, so I know what trim and color each have. I look at them every other day or daily, see how fast they are selling. The new car inventory page of the dealership site is pretty up to date.
2. Pick your color. Some colors have a lot more availability than others. White, black, silver are everywhere, but blue and red is rare. Only go to the dealership that has the color of your choice. Do not try to negotiate a car the dealership don't even have. Do not let the dealership know you really want a particular color. Let them know as late as possible. Do not take BS that a color should cost more than other color because it is rare.
3. Get intelligence. Most dealership automatically adds something to the car as soon as it arrives. I am lucky to know the color of my choice arrive the day I go to the dealership. From contacting with them using my wife's name I know they have this arriving this week. Putting add-ons increases the revenue. Pretty much they will add the "pro pack", which is the protection package including wheel nut lock, splash guard, and a cargo tray. You can buy these accessories online or at the lowest price dealership parts store, and installing them takes less than 30 minutes and costs at least $100 less. More on this topic later. I do not want any adds in the purchase, because it is not under my control, and these adds always cost more than you add them later. I basically want to have the naked car, and add the things that matter to me at a lower price later. If I arrived the day after this car arrived, it would have the pro pack and tint windows. This would complicate the negotiation. I heard some dealership adds thousands of $ of adds on some cars. It is hard to ask them to take it off the price.
4. Most dealership are not willing to negotiate online now. Most of them stick to MSRP really hard. It is still a seller market for this model in north Texas, OK, and LA. Go to the dealership.
5. Get your finance ready. Have your money in the bank, and bring the check book. You should always ready to buy when you negotiate. If you are not ready and just want to test drive, let them know first. Dealers do like to negotiate with people ready to buy. If the price is not right, always prepare to walk out. I get car loan from Bank of America at 3.15% for 60 months and $200 processing fee before I go to the dealership, most Honda dealership cannot beat this rate right now. I let them know I have my bank ready to wire the money.
6. Negotiate on OTD price. They will give you an ODT, and I let them know my starting ODT, then we come to a point between these numbers that we both like. Always start from a lower price and go up to a price you are trying to get. If you are really targeting ODT 35k, start with 33 or some other number and go up, and ask the dealership to come down. If they are not willing to deal, walk out and go to the next dealership that has your color.
7. Try go there during the week days after work, so they are not too busy and wants to make the deal and go home. I was starving, but it worth it. Try go there the last week of the month, quarter, or year. They are likely in a mood to deal when the fiscal period is closing.
8. I say no to any service and protection plan or extended warranty. I have 3 Hondas over the years, they don’t need much care other than the basic ones.
9. If you trying to squeeze another few hundred $ or some extra stuff like tint, you can, but I think it can make the negotiation much longer and unpleasant.
10. The rear glasses are privacy glasses, so the only windows needs a tint are front row.
11. After I buy the car, I search online for accessories, they are cheaper than at the dealership. However, some dealership have 10% to 15% off coupons for parts specials at their web site. The same part does not cost the same across dealerships. Go to http://estore.honda.com to compare dealership part and installation cost before you get them. Some parts are easy to install, and some parts are not necessary. I like to buy a naked car because I like the freedom to add what I like. However, it is very rare you can get a naked one if it has been sitting in the lot for some time. Some dealership web site shows the MSRP is a lot higher than the official MSRP, that is because they already put a lot of adds. You should find out the cost of buying and installing the accessories, so you know the true value and do not take whatever number the dealership throws at you for the add-ons. Fabric and paint protection are just something you can get from most store and do it yourself, but the dealership can charge hundreds.
Could you pm me your contact at Ames Honda? Thanks for sharing your experience.
Ben
I am willing to search beyond my local area.
LISTEN UP ODYSSEY MINI-VAN BUYERS..
If the dealer buys a van for $30,000 at Invoice, and they sell it to you at a invoice price of $30K, they still made a profit on you. Dealers get a holdback of 2-3% on the price of the mini-van. So Honda manufacturer sends them a check for $900 at 3%. So yes--holdback is profit. They have room to move on the price. Use this information to your advantage when Negotiating with the sneakies....out there...
I will have to negotiate the price with the dealer as the prices have really come down in the last few days.
How much should I expect "other fees" like doc fees etc. that the dealer charges?
I sold my old car and have to transfer the plates to my new odyssey. Can I just go to the DMV and get this done instead of dealer doing it and charging me ridiculous amount$?
Any pointers?
Thanks in advance.
I have bought several cars a few I leased , most recently I purchase a honda pilot. Bought the pilot 3 yrs ago in March and not really happy. I need more space. i decided to look into Odyssesy. Been dealing with 2 dealerships in AZ here is what they gave me. ( I want to lease again as I prefer my lease experiences ) This is for the EXL with RES and Nav
Dealer 1 Sellling price 37985
21,000 for my Honda PIlot Trade in
Base pmt 427.10
resid 18992 .50%
12,000 miles allowed
Net Cap Cost says 33240.00
Dealer 2 says I am getting screwed and he will give me payments of 412 base for 36 months at 12,000 miles a year (he is giving me 18,000 for my trade
Any feedback would be appreciated. I have been at this for a week now!
Thanks
There is no NAV/RES Combo on 2011's except Touring and Touring Elite...
2011 Ody
*[7] The Honda Satellite-Linked Navigation System™ and DVD Rear Entertainment System are only available separately on EX-L models.
Linky
You should NOT be paying MSRP for a 2010 in this market. I got a 2010 Touring for less than that. Honda has 1500 manufacturer to Dealer incentive until Nov 1st. Your starting point should be Invoice (33,694) - Incentive (1500) - (Some of the Hold Back or not is up to you). SO, around 32K should be your negotiation start price.
Also, you need to post your question in the Honda Odyssey Lease Questions thread and have Car_man give you his opinion..
Pat
This was by far the best deal I got (and is for a car I can take delivery on by early December, at latest).
Any thoughts on this based on your experience?
Thanks for any insight. Will be sure to post my full buying experience once I've wrapped it up.
I purchased a 2010 Ody EXL w/RES/NAV for a little under $32K, came with splash guards and rear cargo mat. Here in FL.
I really don't care about dealer add-on accessories, ie: DEALER RIP-OFF STICKER....I bypass that sticker when talking to dealers...they try to bring it up and I pretend it's not even there while negotiating....threaten to walk away....as you walk out the door they will dive onto the showroom floor and cling to your ankles so you won't leave....typical....good luck....!!!
Thanks for the input for a 2010 touring
Thanks!
AUGUST 2010 were the worst they have been in the last 25 years,
SEPTEMBER 2010 wasn't that far behind August 2010 Sales.
Hit the dealers up at the end of the month, go in to the dealers during off days like Monday-Wednesday. Dealer fees are usually 500-700 per car, they pay the $8.00 an hour kid to clean, and buff the car for 2 hours, put in a couple of fuses, and fill up the tank with Gas. By the way, for those dealers that CHARGE you extra for GAS tank fill--up....are RIPPING YOU OFF. IN essence they are charging you $500-700 extra per car for the kid to prep the car. Question: DOES WAL--MART wax and polish their bottles of Ketchup before they sell them to you? Profit is already in the car/van---why are they charging more for dealer prep fee, another DEALER RIP-OFF.
Look on the MSRP WINDOW STICKER, it clearly shows Gas Tank included as well as floor mats. Be weary of those dealerships that LAMINATE THE MSRP STICKERS, if you look closely, you'll see the DEALER RIP-OFF STICKER taped onto the Original Manufacturers MSRP sticker. They really make it look official.
A relative of mine was manager for a high-end manufacturer dealership and he mentioned all the TRICKS dealers use to take you to the cleaners. If the high-end market does it, the middle and lower end you know will get it.
FINALLY, **NEVER--EVER*** NEGOTIATE A DEAL BASED ON THE MONTHLY PAYMENT, UNTIL YOU HAVE EXHAUSTED ALL DEALER QUOTES COMPARISIONS, and you figure out the comfortable monthly payment for you.
LX - $25,161
EX - $27,927
EX-L - $31,000
EX-L(Res) - $32,405
EX-L(Navi) - $32,758
Touring - $36,536
Touring Elite - $38,728
The smartest Honda buyers have got these prices as on date. I know these are low but posted them so we are more informed on overall market variances.
Thanks!
Where did you find these prices?
If they can sell a 14k car at invoice, they can sell a 35k minivan at invoice. What's the difference? They take only one parking spot.
This technique of not budging from MSRP is called collusion, price fixing and market manipulation. Just hang on tight, eventually Honda Corp will crack down on these dealers who feel entitled to huge profit for little work.
Would you rather wait and save few thoudsand dollars for charity or give that to family members that are in need instead of giving to rich dealers that already make enough money at invoice price?
REMEMBER PEOPLE....HOLD THE LINE.....THESE CARS ARE NOT MADE OF GOLD...IN FACT THEY ARE BUILT HERE IN THE USA, NOT JAPAN....SO ONE WOULD THINK THAT THE LOCALLY BUILT VEHICLE *DOES NOT* HAVE OVERSEAS IMPORTING, BILL OF LADEN, PORT AUTHORITY CHARGES AND SO ON TO DEAL WITH AND INJECT INTO THE TOTAL COST OF THE VEHICLE.
THEY ARE MADE RIGHT HERE IN ALABAMA...!!! THERE IS NO NEED TO PRICE GAUGE THE CUSTOMER....!!!!
I hate paying more than invoice, but there's opportunity cost for the dealers here. The rationale for not letting you buy a new Ody at invoice is that (with supply limited), they believe they can sell that same vehicle soon for higher.
As for your comment on not budging from MSRP - it's only collusion in the criminal sense if they have actually all agreed between themselves to do this. There's tacit collusion where it is understood as an unwritten rule that you should not discount new models, but tacit collusion is not illegal.
BTW - in general collusion starts to break down when there is a lot of competition, because there is a strong incentive to cheat.
I'm interested on the illegal collusion - have car dealerships ever been prosecuted for this.
I have been out of VAN for 3 weeks and just start taking the bus to work this morning. (knowing it will save thousands in a couple month). I rather wake up early, walk in the dark so I can use those saving for my kids education then telling the dealer I am a sucker, go take my hard earn $$.
I told myself I will not buy the new odyssey unless it is close to invoice!
Now let's go get 'em.
I am planning to buy a 2010 ody EXL w/RES/NAV this week .I am residing in West Palm beach.I will be happy if you send me the Dealership , Contact person and phone number to my email : emichael9001@gmail.com.
Thanks in advance.
We did everything over the phone and e-mail with Continental Honda in Countryside, IL. This was the easiest car buying experience we've ever had. Highly recommend them.
Our lease on our 2006 Odyssey EX-L was up in May. We've been extending the lease month by month, waiting for the new model to come out. Good news is that the trade-in value of our 2006 Ody is $3100 more than our lease payoff, so we got a great deal on the new Ody and an extra $3100 for the old one that we applied as a down payment. This is another great reason to buy Hondas. There's no way that would have happened with a Caravan.
I can't remember who it was but someone recommended Bobby Rahal Honda outside of Harrisburg, PA. I just picked up my 2011 Touring from them at a price of $38,080(including destination) but before tax and tags. That's basically $3,500 below MSRP - well worth the 2 hr drive. I didn't haggle - this price was offered via email and I accepted.
Never had to talk to the salesperson - I was in and out of dealer (cash deal) in 20 mins.
Awesome.
Highly recommend.
Great job!
The new model sure has a lot of dealers thinking crazy thoughts of when the 2nd generation Ody came out in the early 2000's and they were selling for MSRP or more. Some dealers know that in this economy that isn't going happen. Others are keeping their hopes up. Everyone just needs to find the dealers that are living in reality. As I mentioned on my previous post, I went through USAA to get my pricing. The USAA program gave me the name of a dealer that participates in the program and would honor the price. When I talked to them, they were all lined up to order the vehicle. Within a few days I got a call back from the salesperson saying that his GM would no longer honor the USAA price, even though they are part of the program! The salesperson was terribly apologetic and had a few choice words to say about his boss for screwing military families. He did refer me to another dealer that is also part of the USAA program and might honor the price. As it turned out, we found a dealer that isn't part of the USAA program that honored the price though.
We now have friends that want the same car, so we're going to see if the dealer can "rubber stamp" our deal.
Here is the deal
Invoice: $39,937
Marketing fee: $150(this fee was actually on the invoice and after some research I have found this is common in some areas) Honda has been blanketing my region with prime time commercials showing the Elite for about 7 days now.
Tint on the front 2 windows: $99( no other accessories added)
doc fee:$98
Dealer profit:$801
Total price $41,085
Dealership: Eskridge Honda, Oklahoma city
I felt this was a respectable deal all things considered. Very small doc fee, no extra add-on dealer accessories, reasonable dealer profit. No, I wasn't overly happy with the marketing fee, but all in all, for the second one to hit the ground in this state I am comfortable with the overall deal. The Touring Elite is still very rare everywhere except the eastern seaboard and I actually considered flying out to Bobby Rahl and driving one back, I'm glad I found a Honda store that would work with me in my region.
2011 Honda Odyssey EXL DVD
Internet Sale Price : $35,550.00
Additional charges are freight $780, processing fees $385, VA tag $57.75 and VA Sales tax $1174.88
2011 Honda Odyssey EXL Navi
Internet Sale Price $35,950.00
Additional charges are freight $780, processing fees $385, Va tag $57.75 and Va tax $1,187.68
36 month
15K mile
$552/month
First month and fees at signing $764.
Started dealing with a few dealers a few days ago, price started at 576, then down to 575, then to 571, to 569, to 567, to 564, then down to 552! Last day of the month probably helped. Deals are out there to be had.
ALSO, it was definately worth selling my car myself. After wasting time at dealerships getting trade values I sold the car for $3700 more than the highest trade offer within 12 hours of putting it on Autotrader.com
Thanks for everyone's help here. I purchased a Touring at Honda of Clear Lake on Monday. I had made a number of inquiries, and everyone else was wanting MSRP or very close to it. Honda of Clear Lake offered invoice price, although they would not give walk out price in advance, partly because I had to sign a locator agreement to get the color I wanted. However, overall I paid just a little over invoice:
sales price: $36,903
Walk-out price: $41,007.11
I wasn't able to talk them off the $330 charge for data dots and "free" oil changes, but I didn't push that hard. They also included their floorplan costs as a Dealer Vehicle Inventory Property tax ($70.11), but given what everyone else was telling me, I figured this was the best I could do.
Thanks to everyone's help on the board.
I'm glad your local dealers aren't drinking as much kool-aid as they are out here.