2016 Honda Odyssey Prices Paid and Buying Experience

stever · June 2016

I dunno, when I check inventory here I see just about 1,000 within 50 miles of DC. A good number of them are EX-Ls. Seems a bit early for them to drop out of the pipeline.

biggoof16 · June 2016

Best Price on Odyssey EX so far:
E-Price:$27,169.10
Destination:$900
Tax:$1964.84
Tire:$7.50
Doc:$379
Reg:$401
Online:$8.05
Total Out the Door:$30829.49
What do you think?
The Dream Rebate would get me close to 30,000 out the door.

stever · June 2016

Invoice and TMV are pretty close - $30,679 and $30,365 respectively (my numbers include the destination)..

You're a good $2,300 below invoice - sounds good to me!

stever · June 2016

durgun said:
There seems to be no new supply of ODYs. That makes me think may be the production has stopped since the new model may be coming out soon.

Just stumbled on a post over on SlickDeals.net by a former poster here - he says the 2017 Ody is in the works and will have a new body style.

rikki90 · June 2016

Not feeling great, but I had to buy today and I think the dealer figured it out.

Here is what I brought:
2016 EX-L with RES
$33,100.00
7% Tax
$499 Dealer Fee
------------------------
35,916

stever · June 2016

Congrats!

luvmountains · June 2016

Where is this? I am in the market for EX too. Eastern PA/NJ location.

biggoof16 said:
Best Price on Odyssey EX so far:
E-Price:$27,169.10
Destination:$900
Tax:$1964.84
Tire:$7.50
Doc:$379
Reg:$401
Online:$8.05
Total Out the Door:$30829.49
What do you think?
The Dream Rebate would get me close to 30,000 out the door.

biggoof16 · June 2016

luvmountains said:

Where is this? I am in the market for EX too. Eastern PA/NJ location.
Best Price on Odyssey EX so far:
E-Price:$27,169.10
Destination:$900
Tax:$1964.84
Tire:$7.50
Doc:$379
Reg:$401
Online:$8.05
Total Out the Door:$30829.49
What do you think?
The Dream Rebate would get me close to 30,000 out the door.

Autosport Honda in Bridgewater. Let me know if you are interested and I can get you in contact with the sales magager. Pretty straight forward and only dealership in NJ that I have found will even come close to that price.

mightyunknown · June 2016

This forum has been really helpful...this was the best car buying experience I've had thus far. Not sure I got the best deal I could have possibly gotten if I had held out another week, but after about 1 week of e-mailing with 8 different dealers, 2 dealers came down to this price and wouldn't budge from there. The other 6 outright refused. I ended up going to the closest of the 2 dealers...

2016 Odyssey SE
Price: $30,244.75
Doc Fees: $299
Tax: $2,153.33
Tags: $235.91

OTD: $32,932.99

Got with 0.9% financing.

stever · June 2016

Nice - congrats!

ohioeagle · June 2016

Question: What is the best way to confirm my Honda Dream Garage code will work at the dealership. I've heard several horror stories where people had valid codes only to be denied because the dealership didn't know what they were doing or the system wasn't working. I do not want to have everything settled only to have the code screw everything up at the time of purchase. Thanks!

petert · June 2016

biggoof16 said:
Best Price on Odyssey EX so far:
E-Price:$27,169.10
Destination:$900
Tax:$1964.84
Tire:$7.50
Doc:$379
Reg:$401
Online:$8.05
Total Out the Door:$30829.49
What do you think?
The Dream Rebate would get me close to 30,000 out the door.

This is a good deal. I bought my EX in May in San Francisco Bay Area, CA which was very close this price.
I think EX is the best value/price choice.

Congrats!

harikc1980 · June 2016

ohioeagle said:
Question: What is the best way to confirm my Honda Dream Garage code will work at the dealership. I've heard several horror stories where people had valid codes only to be denied because the dealership didn't know what they were doing or the system wasn't working. I do not want to have everything settled only to have the code screw everything up at the time of purchase. Thanks!

Write to Honda offers customer care and let them confirm.

daycaremom · June 2016

What is a good/reasonable price for the 2016 Odyssey EX-L W/RES in Iowa? We are looking to Lease but want a price to shoot for so we know we are not paying TOO much or asking for unrealistic numbers.

stever · June 2016

daycaremom said:
What is a good/reasonable price for the 2016 Odyssey EX-L W/RES in Iowa? We are looking to Lease but want a price to shoot for so we know we are not paying TOO much or asking for unrealistic numbers.

Invoice is $35,316 and TMV is a few hundred less at $34,891 (MSRP is $38,550). That's for an Ackworth zip (I was trying for Ames

) and those numbers include the $900 destination.

Since TMV is an average, you want to try to beat the average.

stan1990 · June 2016

I am being offered OTD price of $32,500 by most dealers for EX-L trim in zip code 22180. This is the standard version. One dealer has broken the 32K barrier and quoted just below. Would you say that is a good price or an okay price. and does it make sense to wait for end of the month to see if I could do better.

stever · June 2016

You're in NoVA I guess @stan1990 - that area surrounding DC is good Honda shopping territory.

Don't know your taxes but TMV is well under invoice at $31,968. Almost $2,000 below invoice - almost thought it was a typo. You may be able to shave some more off at month's end if you want to wait a couple of weeks (and there may be July the 4th sales at that time too).

If you don't want to wait (and I'm guessing your taxes must be at least $2,000), then you already have a darn good quote.

And remember, dealers gotta eat too.

stan1990 · June 2016

Thanks Stever for the resounding Yes. Processing fee is $600, TTL is $1350. and Yes I am in NOVA. What kind of a deal can be expected for July 4th.

stever · June 2016

Hard to predict, but the end of the month is quota time.

Honda sales are down except for the Civic, which is blowing the doors off.

Could be some better numbers for the 4th if Honda throws some more hood money toward the dealers.

We used to (not that long ago) say that $1,500 off invoice was a good number in your area (so, is it NOVA or NoVA? - I keep seeing both).

Now the TMV average is almost $2,000 below invoice. That means some people are paying less.

Another $500 should be doable or maybe even $1,000, but who knows. The dealers may be happy getting fat off of Civics for a while.

My other guess is that inventory will be plentiful, since not many of us still appreciate the benefits of minivans.

stan1990 · June 2016

Good Point. It is NoVA (No rthern VA) or I guess one could also argue NoVa but have never seen that. I am not clear on the TMV concept yet. You are saying that the invoice for EX-L is about 31,968. Since my OTD is 31, 968 which includes 2,000 in taxes and fees, so I should compare 29,968 against the 31,968 Invoice. which means its $2000 below Invoice. Aah I think I get it.

stever · June 2016

You have it.

The wrinkle is that True Market Value reflects what the average person is paying for a similar model in your area.

And TMV is $1,888 below invoice so people are getting a lot off invoice without even trying to hard.

Your goal for your price before TTL would be to beat the TMV selling price.

Here's the "actual" numbers.

Invoice $33,856

MSRP $36,950

TMV $31,968

(those numbers all include the $900 destination)

Good luck and please keep us posted.

daycaremom · June 2016

Thank you @stever

Michaell · June 2016

daycaremom said:
Thank you @stever

I know you are planning to lease, so be aware there is an extra $500 incentive just for leasing. Use that to adjust your TMV targets.

milehigh01 · June 2016

I am looking at leasing an Ody SE within the next week in the Denver CO area. What are the current leasing deals and mf? Thanks!

kyfdx · June 2016

milehigh01 said:
I am looking at leasing an Ody SE within the next week in the Denver CO area. What are the current leasing deals and mf? Thanks!

The lease question forum is here:
http://forums.edmunds.com/discussion/38347/honda/odyssey/2016-honda-odyssey-lease-questions#latest

Thanks!

dacarmon · June 2016

Michaell said:

daycaremom said:
Thank you @stever
I know you are planning to lease, so be aware there is an extra $500 incentive just for leasing. Use that to adjust your TMV targets.

Hi Hosts! I see over in the Odyssey lease forum that the EX and SE have $1250 total lease cash, while the EXL and Touring Elite have $1750 total lease cash. Does this mean that the factory to dealer incentives on non-lease purchases are $750 on the EX and SE and $1250 on the EXL and Touring Elite?

kyfdx · June 2016

dacarmon said:

Michaell said:

daycaremom said:
Thank you @stever
I know you are planning to lease, so be aware there is an extra $500 incentive just for leasing. Use that to adjust your TMV targets.
Hi Hosts! I see over in the Odyssey lease forum that the EX and SE have $1250 total lease cash, while the EXL and Touring Elite have $1750 total lease cash. Does this mean that the factory to dealer incentives on non-lease purchases are $750 on the EX and SE and $1250 on the EXL and Touring Elite?

$1000 and $1250

freeman867 · June 2016

I'm looking for the price to expect to pay for an EX-L base model in the Denver area. I haven't found any local dealers willing to go below $32,500, which is $1,500 or so above where I'm seeing the car sell in other markets. Is the Denver market really that much more expensive? If anyone has bought in the Denver market and has a dealer to recommend (@Michaell, I see you're from Colorado, any suggestions?), I'm open to suggestions.

Thanks!

Michaell · June 2016

freeman867 said:
I'm looking for the price to expect to pay for an EX-L base model in the Denver area. I haven't found any local dealers willing to go below $32,500, which is $1,500 or so above where I'm seeing the car sell in other markets. Is the Denver market really that much more expensive? If anyone has bought in the Denver market and has a dealer to recommend (@Michaell, I see you're from Colorado, any suggestions?), I'm open to suggestions.

Thanks!

It's possible the discounts are regional -- the DC/MD/VA market and the SoCal market, in particular, have massive amounts of competition and thus the best prices.

I've not bought a Honda in 20+ years in CO, so I'd check with all the Denver dealers. May want to include Boulder, Ft. Collins and Co Springs as well - might find a dealer willing to play ball on the price. Only takes one to make a deal on your terms.

harikc1980 · June 2016

Accepted a offer for EXL-RES in Nj for $35,200 OTD including all weather mats.
So it's $32242+TTL. Approx. $500 more when compared to lowest prices paid in Michigan and MD.

stever · June 2016

Congrats!

momvanpartyof5 · June 2016

Looking for the best price on the 2016 Touring Elite in Orlando, Florida area. We are willing to drive north and to Tampa for the best deal we can get. The best OTD quote given so far is 38,200. Also, we will be trading in a 2005 that is in pristine condition, never in an accident and has 68,850 miles. What should we expect for trade-in?

Michaell · June 2016

momvanpartyof5 said:
Looking for the best price on the 2016 Touring Elite in Orlando, Florida area. We are willing to drive north and to Tampa for the best deal we can get. The best OTD quote given so far is 38,200. Also, we will be trading in a 2005 that is in pristine condition, never in an accident and has 68,850 miles. What should we expect for trade-in?

Head over to the "real world trade in values" discussion for an honest estimate of your trade in.

stever · June 2016

You may want to get a free quote on your '05 from CarMax too. Their number will help keep your dealer "honest".

On the 2016, invoice is $42,647, MSRP is $45,775 and TMV is $41,170.

So the TMV average is coming in $1,500 below invoice. That's good.

There's also a $741 (!) ad fee for your area - that fee is "legit" but there's still no reason for consumers to subsidize the manufacturer's advertising.

And being in Florida, you have to deal with outrageous doc fees (anything over $50 is too much, and Florida dealers enjoy ripping buyers off to the tune of $700 and more.

Instead of negotiating the ad and doc fee, focus on a good out the door price and haggle over that. Start with, say, $2,000 below invoice and add in your taxes and work your way up from there.

car_buyer_2016 · June 2016

momvanpartyof5 said:
Looking for the best price on the 2016 Touring Elite in Orlando, Florida area. We are willing to drive north and to Tampa for the best deal we can get. The best OTD quote given so far is 38,200. Also, we will be trading in a 2005 that is in pristine condition, never in an accident and has 68,850 miles. What should we expect for trade-in?

Is your OTD price after the trade-in value ? I have got OTD of $41,800 for the odyssey touring elite here in NJ 08873. $38,200 OTD seems to be great deal.

stever · June 2016

That's a good point @car_buyer_2016. I like to treat the trade-in as a separate transaction. When you figure out what your trade is worth, you can lump that into your OTD discussion, but it gets confusing keeping track of everything.

That's why I like email negotiation - easier to keep track of the numbers.

momvanpartyof5 · June 2016

Here is another offer from a different dealership:

Vehicle price: 45775
Autonation savings: 5303
Autonation Price: 40472

Trade-In Value: 5400
Sales tax: 2177.63
Tax/registration fee: 208.75
Tire/battery/MVWEA: 8.50
Dealer service Fee: 699.95

Trade-In:
Actual value: 5755.00
RECON: 355.00 (what is this??)
Allowance: 5400.00

60 months 0.9% no penalty to pay off early

I'm not loving this deal. What fees should I ask to be eliminated or reduced and realistically, where should I be at price wise to be a good deal?

And come to find out after a manager called me, the 38,200 was a price on a 15, the sales rep made a mistake.:(

stever · June 2016

Dealer service Fee: $699.95 is about $650 too high, but that's Florida for you.

RECON sounds like a reconditioning fee. More dealer profit in other words.

I wouldn't spend a lot of time on the line items - focus on the OTD price. If that number works out, you don't care what the line items are.

Maybe you should check out the Kia Sedona too (I'd suggest the Sienna as well, but there's a captive Toyota distributorship in Florida and surrounding states, and their fees are just as bad).

adorjan · June 2016

Thanks, all & Stever. This stream really helps. Looking for the best price on the 2016 Touring Elite in Kansas City, Kansas area (zip: 66062), I got several competing quotes thanks to Edmunds' Price Promise feature. The lowest I got is ~$39,200 before TTL. TMV on Edmunds is $41,106. Do I get a good price and should I pull the trigger?

stever · June 2016

Depends on how much time you want to spend shopping @adorjan. Price Promise is great for cutting through the hassle. If you enjoy negotiating, you probably can save some more money "going it alone". Next week is a good time to shop the quote around a bit more - end of the month bonus time and there may be some sales for the 4th holiday.

TMV for your zip is about $700 below the invoice of $41,906 ($41,195).

So it looks like your $39,200 quote is already a good one.

biggoof16 · June 2016

Odyssey EX in NJ
Vehicle:$27994.81
Sales Tax:$1959.64
State Tire Fee:$7.50
Processing Fee:$8.05
DMV Fee:$401
Doc Fee:$379
Total:$30750 - $750 (Dream Garage)
OTD Price:$30,000

stever · June 2016

Great deal, congrats!

Since invoice is $30,664, the selling price before fees is $2669 less than invoice (the TMV average is $29,950)

harikc1980 · June 2016

Took the delivery yesterday.

2016 Honda Odyssey EXL-RES $35215 OTD (With all weather mats & wheel locks) in NJ before dream garage code.

32243+299(doc)+2257(7% tax)+408(title/reg)+7.5(tire tax). = $35215 (-750 Dream garage code).
Would have asked a couple of hundred less.

stever · June 2016

Nice, congrats!

Did you get your code via Facebook/email or by postal mail?

harikc1980 · June 2016

Thanks Stever.

i got it from a Facebook. They now stopped giving the code, but old codes Valid on financing until this month end.

stan1990 · June 2016

stever said:
You're in NoVA I guess @stan1990 - that area surrounding DC is good Honda shopping territory.

Don't know your taxes but TMV is well under invoice at $31,968. Almost $2,000 below invoice - almost thought it was a typo. You may be able to shave some more off at month's end if you want to wait a couple of weeks (and there may be July the 4th sales at that time too).

If you don't want to wait (and I'm guessing your taxes must be at least $2,000), then you already have a darn good quote.

And remember, dealers gotta eat too.

Stever,
I am approaching the end of the month and have now been able to negotiate the EX-L Standard down to 31,600 OTD. That's 29950 + TTL. Unfortunately, I do not have a Dream Garage Code. Bummer ! So would July 4th be an improvement in some incentives from Honda given that Dream Garage Code is no longer applicable.
What do you and others think.

stever · June 2016

Predictions are risky.

I thought I was getting a good year end deal on a new van back on New Year's Eve in 1998. Turns out the manufacturer had extended the bonus period for the dealers through Jan. 4th so I left money on the table.

It's possible that there will be some extra sales incentives over the long 4th of July weekend if you decide not to pull the trigger. It looks like some of the current incentives expire on July 5th, so the 4th or 5th could very well be the end of the bonus period for this month.

Other things going in your favor:

Minivan sales continue to decline since no one loves them anymore but me a few other smart people.

.

Car sales in general are still strong compared to recent years, but they are easing a bit.

Honda has some oddball loyalty incentives where Odyssey (and Accord) owners can get $1,000 off a lease or purchase of any new Honda. That may not help you but it does indicate that Honda is trying to get creative in moving cars.

CR-V sales are going well and that SUV is often the most researched vehicle here. Even with the high demand, deals have gotten substantially better just this month. Hopefully that translates to better deals for the slower selling Odyssey.

The Brexit mess could scare the manufacturers a bit, but it's hard to see how much lower finance rates can go. But Honda could throw more "hood" money to the dealers. We don't hear about manufacturer to dealer money much but it's often an extra $500 to $1,000 that dealers can pass on. They don't have to of course, but if you ask your dealer, they may admit they get some hood money, and at least it tells the dealer that you know about spiffs, bonus money and holdback.

If you can convince the dealer that you are an easy sell (ready to buy "today") but that you've done your homework and know how much you want to pay, often you'll run into a sales manager who will do the deal so they can spend time ~~fleecing~~ working on the next buyer.

I gotta think the July incentives will at least as good as the ones right now, but you never know.

Anyone else getting quotes in the DC region this week?

stever · June 2016

btw, there's a good bit of activity in the CR-V prices paid discussion from NoVA buyers. You may want to skim the recent few pages of posts to see what dealers are mentioned. For more general tips, check out posts by @brian125, mostly in the Accord discussions.

mkarthi02 · June 2016

biggoof16 said:
Odyssey EX in NJ
Vehicle:$27994.81
Sales Tax:$1959.64
State Tire Fee:$7.50
Processing Fee:$8.05
DMV Fee:$401
Doc Fee:$379
Total:$30750 - $750 (Dream Garage)
OTD Price:$30,000

Would you mind in providing the dealer details? i am looking for the same in North Jersey Area.

stever · June 2016

stan1990 said:
I am approaching the end of the month and have now been able to negotiate the EX-L Standard down to 31,600 OTD.

Check out these dealers if you haven't already.

2016 Honda Odyssey Prices Paid and Buying Experience

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