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Long time reader, first time writer. Haha, i kill me.
Anyway, with the birth of our second child, i have decided it is time to take the plunge into minivan territory. Our current Elantra GT is a great vehicle, but it is quite tight w/ 2 car seats (and the double stroller takes up most of the trunk). So my question is this:
When would be the best time to buy? I have pretty much narrowed my pick down to the 04 odyssey b/c of the great deals, or the 04 sienna. I know the 05 odyssey will be coming out in august/september, so do people think at that time there will be better deals on the 04 odyssey (as opposed to now, or as opposed to waiting even longer)? Will there even be any new 04 odyssey's left on the lots by the time the 05s roll out? I can afford the minivan now, but i can also live w/ the elantra for a while w/o too much inconvenience (although we are making a long trip in september in which a minivan would be very very convenient). Any advice? Also considering just slightly used 03 or 04 odysseys (or 04 siennas for that matter). Guess the price on those will go down too w/ the new 05s out, but i wonder how long it will take for the market to reflect that. Thanks in advance for any recommendations you might have!
-shrink
One thing I noticed when I bought a 2001 4Runner, I looked at end of the year 2000 4 cyl. models, (last year they made those) and the only ones left were the wrong color or had lots of items I didn't want and they deals were not as good as the month before.
Bottom line I wouldn't wait too long for that special deal, I am thinking now is the best time for a 2004 Odyssey. I bet in August dealers will have a few highly optioned vans left and not be willing to drop the prices real low because the new ones will be much higher.
As far as Toyota vans, they are still in demand and they won't deal much. They might deal more in a month or two, but I bet in 2005 the newness where wear off and the new Honda will put pressure on the prices, so I would think early next year for a good deal on Toyotas.
And of course the new 2005 Odyssey, you might as well forget a good deal on that for the next 3 years.
Here is the breakdown.
CarsDirect.com Price: $21,828.00
Documentation: $45.00
Taxable Total: $21,873.00
8.25% Sales tax: $1,804.52
Subtotal with taxes: $23,677.52
Registration (title) and license fees: $ 197.00
Additional Official fee:$5.00
FINAL PRICE: $23,879.52
I turned down all the extended warranty and other things they try to tack on. Just focused on driving off the lot at the quoted price. I paid cash which also helped bypassing all the games they play with monthly payments, etc.
Overall I couldn't be happier. I thought car buying was supposed to be painful, especially in the Bay Area. The whole process took no more than 2 hours including the wait at the dealership. I didn't have to commit to anything until the car was found. Throughly recommended.
Almost all dealers i have spoken with, (close to 15) will at least go under invoice on the van right now. Some won't, and that is their right to set their own price. But the dealers who are looking to blow them out will start at invoice, give you the $500 dealer cash that they are getting from honda, and give up some of holdback (this = 3% of MSRP not including destination).
On an EX-L for example 3% * 28490 = $854.7
Invoice + Freight = $26,122
minus dealer cash (500) = $25,622
minus Holdback (854.7) = $24,767.3
24,767.3 is the dealers net cost on the vehicle, if you tell them this they will give you a speech about paying to keep the lights on and pay for insurance and the floorplan , blah blah blah.....
many dealers won't want to give up this holdback money, just say no thanks and move on.
But some dealers will give up at least some of it, especially these days. As they get into the last few days of the month managers will get more aggressive as they need to make their #'s for the month.....
plates and doc vary based on state
Where I am $300 total is on the high end and $200 is on the low end
Tax is tax, gotta pay that too.
Best strategy for the serious buyer, round the 24767 up to 24,800
add your tax lets say 8.625 for this example.
Total with tax is $26939 plus say $250 for plates AND doc
GRAND TOTAL $27,189
Get a certified check made out to YOURSELF (this way you can just go to another dealership if the first one doesn't work out) ahead of time for $25,000
don't sign the back until you have a deal on a buyers order though. Many dealers will take b/t $2500-$3000 on a credit card, some even more. Make your offer in person to the sales manager, tell him you can take the car today and that you can pay the majority by certified check and the rest with your credit card.
Calling before time and searching the dealers sites for the color you need is advised. When calling ask to speak to the sales manager, the salesmen are taught to say anything to get you in the door, most don't actually have discretion to write deals though.
As far as '04 Odysseys go, production has probably stopped by now, if not it will soon, I have a feeling they will dry up pretty quick with many of the deals I am seeing out there.... It really is a great vehicle for the $.
Actually, at the end of April, I saw an advertisement selling more than 100 EXs at $22575, but never after that. And I heard that people are getting an EX at $23000. So, I thought a price between them would be a good deal. But it seems that it might not be impossible to get an EX even below the price I offerred.
I live in NC. Good luck to all minivan hunters!
As far as getting a EX for $22,777, that may be, but understand that is not a done deal. I made a deal for my parents written in stone for $21,000 and after 3 hours he went up $1,700. Just take it with a grain of salt.
About the EX
Dealers net cost is
= 24,248 invoice
+ 490 destination
- 500 dealer cash
- 727.44 holdback
-----------------------------
$23,510.56
you also must pay
+ 300 doc & plate (approx)
+ your local tax
A note, not many dealers will give odys away at 800 under net cost you were asking about 22,757 i think, if you can get 23,500 plus tax on an EX you've bought the car and the dealer hasn't made a cent...... Any lower than that and you should make sure it hasn't been repaired, had body work, or has a bunch of miles etc.
so 23,430 is the true net dealer cost
I am in the market for an EX with or without RES. Where did you purchase your vehicle? I am in the Bay Area, CA. Cars Direct list EX for ~ $24 without RES
twmark, where was your dealer and what was your sales tax rate?
Thanks.
Chopper
24 months/30K miles
Total Cap Cost: $24,943
Residual (70%): $19,761
Money Factor: .00113 (paid Sec. Dep.)
Base Payment: $266.44 ($288.42 w/8.25%tx)
Drive Off: $855.13 (SecDep, 1st, Lic/Fees)
Total Cap Cost (which includes Acquis Fee and Dest Fee) appears to be $1100 under invoice.
Holdback is $832.
Honda Incentive is $500.
Honda Leasing Incentive is $100.
Leaving $332 for the dealer (that we know of).
Negotiation took a week. I called three internet salesmen in sequence and each offered a better price. The third offer turned out to be unbeatable (and unimprovable). So we took it. Never set foot on a lot.
Very pleased!
I purchased it in NC.
I'll see whether my price will be accepted, when I really need a van TODAY. When I tried to make a deal with toyota dealers, many of them definitely refused my offer that I thought reasonable. But no honda dealer has refused it yet.
Oh, I live in triagle area, and contacted some dealers in triad, too.
Best prices I have seen on 2004 Odysseys are $25,288 for an EX and $22,691 for the LX. I just don't believe any dealer is going to sell an Ody EX for $22,777 UNLESS it is used or has been badly damaged in transit or on their lot before being sold.
BTW, doesn't Honda charge any "Advertising" to the dealers that adds to their invoice price?
BTW, I was offered 999.00 for 100K/7years extended warranty honda care.
If someone interested in avoiding ribba,let me know.
When trade-in or leasing is involved, it is almost impossible to compare deals.
My question is, Shouldn't our lease be based on a price of $3000 off, followed by the lease special offer (also $3000+ off)? Are we getting "played" with this hail damaged deal?
I won't know any of the Lease specifics until tomorrow when they 'hopefully' fax me the agreement with all details filled in.
24 months/30K miles
Cap Cost/Selling Price w/dest.fee was $24,348
(This is $3882 off MSRP, $1100 under invoice).
$266/month w/o tax, $288/month with tax.
$855 total drive off
Basically this is a grand less in total cost than the standard EX-RES lease.
I would think that you could meet and probably beat our deal for a hail-damaged vehicle--but post the numbers when the dealer sends them...
I do plan to finance and can get 4% for 60mos. from the local credit union. Bottomline looking to get lowest price and lowest rate when I e-mail back to the dealers. Any suggestions. Thanks.
drewman in MA
Let us know how it goes.
Leases can be compared, so long as it is specifed that they have = miles/year and they are through Honda Finance.
DO NOT under any circumstances lease from an outside company like Hann Financial or Bank One.
They charge disposition fees and are unforgiving with dings and scratchs on turn in.
I wasn't aware of a $100 "Leasing Incentive" from honda, if anyone has the details on this please share it.
Current Residuals 24months:
LX/EX/EX-Res 24K miles-71%, 30K-70%
EX-L/EX-L+RES 24K-68%, 30K-67%
EX-NAV 24K-66%, 30K-65%
Money Factors for all these leases are .00113, but it is bumped up to .00123 if you chose to skip the $300 security deposit up front (the higher MF means that you will pay about $120 more over the course of the lease).
I would be interested in calling to see if I can get the deal as well. I would hate to call and speak to the ng person.
Thanks to all for the great info.
Steve, Host
Thanks!
which dealer was it?
do they still have a lot of inventory?
I am looking to purchase in about 3 weeks.
thanks
nwng
rbell2 - doc fees: $198.75 doc prep, $5 title prep, $86 reg fee, 5% to the commonwealth
Thanks
Thanks!
We call dealer cash "marketing support."
Here's some info about Dealer Holdback.
Steve, Host
25600 - including wheel locks and mud guards
200 - roof crossbars
99 - doc. fee
25899 + 5% taxes and $175 registration fees
Coming here made me determined I could get OTD for under 26K, even with the crossbars, so thanks a lot. Bought at Heritage Honda and had a very positive experience with salesman and sales manager - having not bought a car in so long, I was prepared for the worst, but found everyone to be upfront and professional - took about 5 minutes to make the deal.
Want to know where to find or someone who knows what the current Holdbacks are and dealer incentives in Chicagoland and how long they last.Plus any low Apr's thru Honda
Is there any way to find out if a 04 has been damaged on the lot B/4 I buy?
Thanks