Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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We say holdback is 3% for the Honda.
As the link says, don't focus on holdback in negotiating so much, but instead focus on your out the door cost.
Steve, Host
I know people don't want to think about the Cost of Doing Business but these costs are staggering and really need to be considered.
I agree with our HOST here. Instead of trying to figure out all of these costs, etc, concentrate on your total OTD costs. It'll be much easier that way.
Good Luck!
just bought a 2003 NEW ( 3 miles ) Odyssey EX-L white / fern leather
$24,050.00 van
2,083.00 NYC tax
85.00 reg , inspection
12.50 NYS tire waste
$26,230.50 total plus splash guards and free oil changes for 2 years ( just tip the worker )
Bought my van in New York City , went on Feb 2nd ( but since jan 31 was on a saturday they had till Feb 3 for January sales ) told the salesmen that i wanted a 2003 for $24,100 out the door. They said no thankyou I left but gave them my cell phone number before leaving. The next day, wednessday Feb 3rd at 11:00am got a call from the same salesman he told me if I was able to get everything done by 9pm we had a deal. Called geico , went to the bank , was done by 3pm. Very Happy ( to tell the truth I was going to go back on the 2nd and offer more money LOL ) Thanks for all your post they really helped......
My out the door cost .... best offer so far is
Honda Odyssey 2004
EX-L-RES (leather and DVD)
is
$27,769 OTD (includes Destination Charge)
MSRP $29,990 + $490 (Dest Charge)= $30,480
Goal is $27,500 OTD
Invoice: $26,980
$26,980.00
- 914.40 (3% of MSRP)3% Factory Holdbk
__________
= $26,065.60
$26,065.60
+ 781.97 (3% Profit above invoice)
__________
=$26,847.57
$26,847.57
+ 490.00 (Destination Charge)
__________
=$27,337.57 ( rounding up to what I want out the door - which is $27,500.00)
So, I believe I am in the ballpark for an OTD price of $27,500
Hope all is well
Once again thanks for the input.
Doc fees also vary widely, but they are a profit center for the dealer, so most of us tend to roll them into the OTD price while negotiating. Ditto ad fees, mop and glow packages, etc.
Steve, Host
I requested online quotes from 6 dealers. So far only 4 of the six dealers have responded. I requested itemized costs, but only one did that. I also requested the OTD price (tax 5% and tags), telling them that I needed that so I could directly compare all quotes.
Dealer 1) $29,345.77 He said this included his "Value package" which had mud flaps, pin stripes and other things I did not want. I told him give me a price without those, and he responded that they were included at "no charge".
Dealer 2) $29,000
Dealer 3) $28,805
Dealer 4) $28,732. This dealer responded by email, and itemized the costs. When I checked them they had the tax at 5.2% when it should be 5%and the calculated amount was way to low. When I told him that, he corrected himself. The OTD price came to $29,288. When I got home there was a message from the sales manager who was unaware that I had a quote already from them. He came up with the $28,732 figure. Interesting how the same dealership came up with two different numbers.
I have a few other quotes I'm waiting on and I plan on calling the sales manager where I originally test drove the vehicle. He said that he would beat any price quote I have.
Does $28,732 sound good? It seems OK to me.
Thanks for any input.
Like you, I requested online quotes from about 10 dealers asking for specific details so I knew exactly what was in there. One way to look at it is OTD cost, but having the detailed breakout lets you compare one quote to another - if you want to. I focussed on the 6 that responded with the details and dropped those that said "let's talk or come on in so I can give you the best service".
One thing that may have helped is that I did the final negotiations in the last 4 days of the month. However, once you sign, they will want you to pay & take delivery that month. Also, right now, I am not sure how the upcoming President's Day event plays on dealers' willingness to negotiate. But then spring is somewhere around the corner and car sales do pick up.
Some un-related suggestions:
- Before you sign, I would test-drive the piece that you intend to buy (not the demo).
- Try to avoid accepting a punch-list of things they will have you come back later to have them install (eg: accessories that are not in stock at the time of delivery).
It is a great car for sure. Good luck!
nit2, Thanks for the suggestion, I will drive the vehicle before I sign anything.
Thanks again.
The reason I ask is I currently have a 97 Nissan Maxima with 105K and a 93 Mazda 626 with 185K and neither have ever required extended warranty work. Routine maintenance is all that has ever been done.
Thanks.
You can buy an extended warranty anytime before the factory one runs out (even the official Honda ext. warranty I think), so you may want to drive your new rig for a while before deciding.
Steve, Host
2004 LX Silver $22500
Roof rack, hood air deflector, mud flaps and door edge guards for $400.
Total price w/o tax,title,reg. $22900
I think I got a fair deal. Thanks for the help!
Did the usual round of the dealerships, tire kicking and watching car sales people play flip flop with all the seats, huffing and puffing out other new features as they did so. All this was interesting until I saw the first window sticker with the Toyota MSRP (Manufacturers Stupid Rip-off Price)
The Toyotas' bottom line was outrageous$.
The sales people were so pumped up about the Van that they quickly got into the old, "you better grab this one now, as they are flying off the lot" (Yah...right)
The Quest' has an interior that only a Trekie could love, and a lumpy floor with a kind of, 'basement' idea for all the seats to stuff into.
Went home and sent e-mails to all the Honda Dealerships within 200 miles requesting their best internet price. Finished each letter with, "If you don't hear back from me, you didn't have the lowest price."
Got a few replys, but was amazed that some of the larger dealerships didn't even respond. Most of these Old Boy Club Dealerships are still stuck in the last century Sales Presentation systems.
First the, "I'll be your new best friend" sales person, then the predictable, back and forth with the $ales Mngr. always in a corner office somewhere sending back the original salesperson demanding more money.
My wife won't even go into a dealership anymore, she hates the whole nasty routine so much.
Finally got the lowest internet bid from Frontier Honda in Morinville, About $5,000 off the MSRP (and the only dealer that would actually write it down) and bought his new 2003 Red rock Pearl Odyssey EX-L (leather, heated seats) with all mud flaps, wheel locks and hood deflector,
$24,625 (U.S.ecq')excluding taxes
The other costs were, the a/c tax, $100, tire recycle tax, $20,00 and (GST) sales tax..+7% for a
total of $35,806 Canadian.
BTW,Canadians call the GST, the Gouge and screw Tax, the $100 a/c tax idea came from some Govt. Bean Counter that argued that a/c is a "luxury" therefore could be taxed.
Got 26 MPG on the 15o mile drive home, on ice, snow, and blowing snow, past a fatality accident, abandoned cars in the ditch and spin outs everywhere.
Happy motoring!
'We Know Snow in Alberta'
Total price was $24,900 (including dest. & doc fees). Dealer offered 3.9% financing for 60 months.
Good luck!
Vehicle + Destination + Processing = $27,199.05
Tax = 1359.95
Tags = 173.00
Total = 28,732
I really like the vehicle. Thanks for the help.
$26,500 incl. destination
$1,400 extend. warranty (potential high cost of fixing all the power gizmos)
tax
license
fees
$30,039 OTD
does this sound like a good price to you?
We bought in Santa Monica, CA
The best offer I got so far is the invoice + 400.
What will be the right price for NW area?
Does anybody has a goooood deal yet?
When they do bite, and they always do if you are patient. Make sure the car you want is available at the price you want. Be prepared for some possible games when you get there.
You mentioned the NW area. If you are in PDX area, buyer beware of the Buy Bob folks. They agreed to our offer then tried to raise the price when we showed up to buy the car. While doing the paper work we caught them trying to bury a $185 fee labeled VTR with the title, license, and processing fees on the purchase contract; making it look like VTR was required by the State. "Vehicle Theft Registration" is really the window etching scam. Overwhelmed by the sleazyness we walked out.
Vehicle MSRP: $24980
tow package: $1223
cd player: $445
mudguards: $121
total: $26769
Discount: $2069
sale price: $24775 (they snuck $75 on me - had been quoted $24,700)
tax (5%) $1239
Registration/Tittle/Fees $111
Grand total: $26,125
No clue how this compares to invoice, but since MSRP was the norm through October last year, I consider this good movement in our area. I still think it is a sound investment vs other options out there.
VEHICLE:
Year/Make: 2004 Honda Odyssey EX-L RES
Model/Trim/Transmission: Odyssey EX Automatic Transmission with Leather and DVD Entertainment System Exterior Color: Starlight Silver Metallic Interior Color: Quartz Leather
Options:
8-way Power Heated Seats
Remote with 2 wireless headsets
Air Deflector
Keyless Entry
Passive Alarm
Towing Package
Cross Bars on roof rack
Roof Box, short
Door Edge Guards
FenderWell Trim
Splash Guards
Cargo Cover
Cargo Mat
In-Dash 6-Disc CD Changer
Fog Lights
Wood Grain Kit
Is a 31,800 quote a good price?
I was negotiation with SM dealer, 2 wks ago, (down to $250 difference) but didn't bought it there and ended up with Sienna XLE LTD.
I think you paid too much for the Ext. Warranty.
My deal at the time was $500 off invoice on EXL-Navi plus $750 with 7/100 Ext. Warranty plus $600 for backup camera installed (taking advantage of having Navi). They called me to accept my deal when I'm signing the doc for my Sienna XLE LTD with HO pkg for more $$$$.
SM Honda basically bought the car back at $250.
I'm glad I did choice Sienna over Odyssey. Really enjoy the quiet ride and Dual DVD screen(use the Navi to watch DVD too) and backup camera. :P
Is the 31.8 out the door? tax, destination, reg fees? Need to break out the detail.
Also, I do know that Greenwich Honda has been advertising an EX-L with RES for $27.7 - which means you can probably get it for less.
Fair Honda in Danbury seems to have good prices.
Also if I get the Ody, I will get this big depreciate that once the new model comes out.
Yeah, I live close to beach but I don't see BeachMoms but SoccerMoms.
How much longer i can wait is the real question? Can i hold out long enough to see the 05’s. I would like to say yes to that, but my family needs something fast. With two kids, one starting K in the fall, and another in a couple of years.
Thanks for the info on this board, I’m sure to make a “wiser” decision!
Before tax/fee, the difference is about $7.5k To me driving a van suppose to be slow, relax, comfy and quiet. And Sienna XLE LTD gives me all of that and Ody doesn't. If I want to go sporty, I have other sports car to enjoy.
Finally, decided to go with the one whose ad I had seen earlier in the newspaper.
Paid $27,271 including destination charges (believe this is $200 below invoice)
+ TX and Reg.
I also managed to get first 3 services for free! This is in OC on 2/15
Dealer offered to give me an "unbelievable" price on extended warranty. $1600 for 7yr/100k mi/ $0 deductible.
In about 15 mintues of haggling, he was down to $949, but I decided to pass.
I did play a little trick on the sales manager though. Told him another dealer had offered $27100 but since he is a little ways from my home, I decided to check at his dealership first. He bought it.
Anyway, I had a nice experience, thought I'd share. One thing does boggle my mind however; this very van was selling at $2500 over MSRP just until last year! That too, if you were lucky. Just an example of how times can change.
thanks to all who shared their experiences!
thanks in advance.
If you opt for extended warranty - many posts above indicate $700 to $800 to be a good buy. I was offered $1060 for the 7/100 warranty and turned it down as auto repair costs are about half what the folks in the big city pay.
Obviously after reading this they will deal. I will make them deal.
Invoice is $24,774, a few hundred over invoice seems normal or am I off base?????
Thanks
In the end, I paid over a 1.2K less in buying Ody v Sienna - those $ will go into the "boat upgrade fund" before launch!
All the Honda dealers are willing to price anywhere +/- 2-300 from invoice from what I can tell from various posts depending upon where you live and if you have a trade.
Wrestled for weeks bet Ody and Sienna. Sienna is fresher design, but Ody is more of a drivers minivan (we are coming off of 3 year lease driving a Saab 9-5 wagon - 250HP - sport suspension, etc). Sienna too cushy a ride - steering is very wishy/washy (hello wheels - the steering wheel is turning). Honda was a better ride IMHO. Both are great vans though.
ALSO - dealers appear to be discounting on 7/100K $0 deductible extended warranty. I got mine for $800.
Good luck.
At any rate, it was a very pleasant buying experience. The manager essentially asked me politely to take a hike in the morning, but at 7:30 tonight, we got the phone call that their "quota" had been met, and they could meet our requests. I'm not sure whether there was such a quota, but hey, we'll take it. They had the paperwork ready for me when I got there, and the contract was very straightforward (no "mystery fees"). Also, I read a post that said that dealers in rural areas might not be willing to deal, but we sure don't live in a metropolis; there's only one Honda dealership in our mid-sized, Indiana town, so it certainly can be done out in the sticks, if the stakes are high enough for the dealer (end of month, dealer wants to avoid inventory tax, etc.).
Thanks!
I had the dealer add splash guards (worth about $150) and the crossbars for the roof rack (worth about $200). These were the only accessories I added.
Including destination, I paid an even $26,000. Two different dealers showed me the invoice for the EX-L (with no options) and it was $26,122.08 exactly both times. Thus, if you figure about $300 invoice for the two accessories, I paid about $470 below invoice.
Any other experiences out there for the EX-L?
When I was ready to buy, I visited Commonwealth, Cambridge and Chambers (Burlington), and bought at the latter, only cause it is close to home and I like their Service Dept (I used to live even closer to it and have had my Accord serviced there). We test drove the vehicle at two other dealers (while visiting parents) over a 2-week period as we were deciding between the Ody and Quest.
Anyway, as far as experience is concerned, it is awkward when you already knwo what you want to buy and what you are going to be paying after exchanging e-mails and phone calls. You know, it is not like they are going to tell you something you didn't know and you close a deal with them that makes their day.
On a side note, my wife did get pissed at the Finance Mgr because he tried to sell us warranties, et. al., and would say one thing and then print another thing on the contract. Before picking up the car, we ended up canceling the add-ons, partly becuase of the under-handed tactics involved, but also because we were skeptical about 3rd party warranties (the only reason I even considered the warranty was becuase if you didn't use it, you got you money back, less $110, but in the end I figured what if that company isn't around in 7 years, and its a Honda, right? aren't I buying becuase of teh reliability?).
I should have asked about Honda warranties, just to see if they even exist, but didn't think about it, and I'm usually dead set against extended warranties. What is a good price for a Honda warranty, if they are in fact offered?