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Buying a Used Odyssey

steverstever Guest Posts: 52,454
edited November 2016 in Honda
This discussion was created from comments split from: 2016 Honda Odyssey Prices Paid and Buying Experience.
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  • jakedoha08jakedoha08 Member Posts: 9
    Guys - is there a similar forum for used certified odysseys

    Thx
  • steverstever Guest Posts: 52,454
    edited November 2016
    Don't remember one, not a recent one anyway. You are welcome to start one.

    You can appraise the one you are interested in at the What's My Car Worth link up top. Drill down to the color, miles, condition, etc. and you'll get the usual pricing info - trade-in, private party and dealer retail numbers.

    Under those numbers you'll find the CPO price, at least what Edmunds thinks the CPO price should be.
  • jakedoha08jakedoha08 Member Posts: 9
    Mind if I hijack this thread? I'm actually wondering how much should I pay for this car. It's a used (not certified) 2014 Odyssey with 45k miles on it now. All tires need replacement in 10k miles but that's about it. Its carfax shows a rear ended accident but my mechanic said it looked very minor and he could barely notice it during inspection. He said it's a very well maintained car and looks like it's just been through highway driving. Carfax here
    https://www.dropbox.com/sh/8a2v4vlo3e7pjii/AAByDo71JnQu-ewDqwV9GUnZa?dl=0

    Some help telling me what i should offer would help and I'm also wondering how much does a rear-ended accident affect a car's resale value

    Thx
  • steverstever Guest Posts: 52,454
    edited November 2016
    So, a gray EX-L in CT. 41,500 miles, clean condition? The dealer retail value without the accident would be $25,985.

    Not sure how much impact (pardon the pun) the accident will have. Future buyers who don't have the van inspected will think that Carfax is describing pretty significant damage.

    I think I'd aim for the trade-in value of $22,558.

    Hm, this van was for sale on the New York craigslist in Sept. 2016. That's where I got the miles, not from the Carfax. So if this is a private seller, then I'd start lower.
  • jakedoha08jakedoha08 Member Posts: 9
    Yes private party is selling it to me. What number do you have in mind without accident and do you think I should reduce 20% because of the accident (car fax says functional damage & vehicle disabled)

    Thx
  • steverstever Guest Posts: 52,454
    I was thinking 10% but I've asked for backup. :)
  • jakedoha08jakedoha08 Member Posts: 9
    Another side question - there is a comment above on how 2016 odyssey prices will drop once 2017 is released. In % terms, how much do you expect the drop to be on the EX-L model? Thanks
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    It's a tricky question because we don't know what the damage was. If it was just a bumper crunch, the diminished value would be zero. If there was a panel "pull" and repaint, perhaps 10%. If it was on a "frame-pull", or if panels were actually replaced and welded in, then 15-20%. A paint thickness gauge would probably help with the mystery. Many dealers have them, especially used car managers.

    Also the make and year of the car affects diminished value. On a Honda, not so much. On a Ferrari or Porsche, a lot.

    It would be nice if you got a bit of a discount because when you resell, someone is going to try and grind YOU on the Carfax.

    After 100K miles, I think all this hardly matters to the marketplace anymore.
  • steverstever Guest Posts: 52,454
    jakedoha08 said:

    Another side question - there is a comment above on how 2016 odyssey prices will drop once 2017 is released. In % terms, how much do you expect the drop to be on the EX-L model? Thanks

    It's kind of hard to say. With some cars, the inventory gets low and dealers slow down on giving discounts (and maybe Honda cuts back on the pricing support). I think Odyssey inventory is pretty plentiful so my guess is that deals on the new 2016s will be pretty good, especially around New Years. So, maybe another 5% off? That would be ~$1,000 to $1,500 in additional savings over current quotes.
  • jakedoha08jakedoha08 Member Posts: 9
    stever - you are a really good moderator! thank you!
  • jakedoha08jakedoha08 Member Posts: 9
    Btw, i read an article stating someone from honda stating the new 2017 is due in spring; did you folks get other news that it's due earlier than that? Thx
  • jakedoha08jakedoha08 Member Posts: 9
    One more - on top of all discounts, is a dealership likely give me any trade-in value for my accord 97 with 180k miles (quite beaten up). I had one dealer tell me he'll give me $1000 for it but I think he was simply moving numbers around from other discounts
  • steverstever Guest Posts: 52,454
    Thanks for the shout out Jake - it's fun spending other people's money. B)

    We don't have any news about the 2017 release date - I've seen spy stories elsewhere with November and December predictions. "Spring" seems a bit late but I don't know.

    A quick guess using our appraisal tool says that trade-in on your Accord is around $200. The one dealer likely was moving numbers around. Kind of nice of them actually, saves you the hassle of trying to get $1,000 for it on craigslist. They may take it to auction or maybe just to the crusher. But some kid would love to have it I bet.
  • bnruskerbnrusker Member Posts: 4
    Hi All - Looking to buy a 2014 Odyssey in Milwaukee area. I'd say at least 10 in inventory around the area with less than 36K miles ... Starting with e-mail negotiations with three dealers. Can I get one for $24K, or am is that wishful thinking. Had a friend get one for $26,500 plus taxes about a month ago. Thank you!
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    Seems doubtful, unless you buy private party, or higher mileage, or something with prior accident history. But a very clean one from a dealer with low miles? Not likely. Of course, I don't want to rain on your parade, so by all means if that's your budget, you might get lucky. Just keep in mind that at $24K, and given your stipulations, you are working with a below market target price.
  • bnruskerbnrusker Member Posts: 4
    Sounds good - thanks for the dose of reality! I'll let you know how it goes.
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