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2016 Honda Odyssey Prices Paid and Buying Experience

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Comments

  • steverstever Posts: 52,462
    edited January 2017

    Hi Steven,
    Here is the current deal I have on a 2016 EX-L RES. What do you think? I am in Northeast Ohio (Cleveland).


    MSRP $38,700.00
    Sales Price $32,803.00 (includes designation fee)
    Documentation Fee $250.00
    Tax $2,148.45
    Tag and Title $33.50
    OTD $35,234.95

    Hi KMS, missed your post (thanks to @adk_nyc for bumping this discussion back up the list).

    Your quote is well below TMV and invoice and is ~15% off MSRP. Good price!

  • steverstever Posts: 52,462
    adk_nyc said:

    Thanks for your advice here, stever!

    I asked for some more wiggle room but they didn't budge and I'm not in a rush to get out of my current lease, so no deal for now but that's just fine by me.

    Look forward to seeing how others fare over the next few weeks/months and seeing what I can work out.

    stever said:

    Yeah, another $900 really helps make the deal work. Now you're looking good, taking my other assumptions at face value.

    Time is on your side; look forward to seeing you on the 2017 discussion in a couple of months or so.
  • Stever, greetings from down the road in El Paso. Just got back from Rudolph Honda and offered $30500 for a 16' EX-L no RES/Nav, lowest they would go was 33500. We walked away and are wondering what next? Will the 17's arrival change much down here? They had 9 EX-Ls on the lot.
  • Just to update the forum, on new years day we went to Pompano Honda in Broward county FL, and were offered a good price for an EX-L base of roughly $30400 before taxes and fees, OTD before tag fees was $33200 however to compensate they were offering me a very low trade in for the same 2009 Odyssey and I had to walk away from the deal.
  • krishkrish Posts: 24
    Charlotte, NC area.
    In market for EX-L.

    Used Costco and Sams auto buying program, received (online) quote for $31,471 + dealer fee+tags+tax on Costco program.
    $39 more than TMV.

    Is this a good price or can I walk in to dealership to negotiate for better price ?
  • llie19llie19 Posts: 18
    Finished buying 2016 EX-L (no nav no RES) yesterday, in the greater DC area. Breakdown:
    Selling price: 30,312
    Processing charge: 300
    Tire recycling fee:4
    Tax (MD 6%), title, tag, security of interest:2184
    OTD: 32,800

    We got quotes from several dealers by emailing. The second best OTD quote I got was 33,350, but I may have been able to slash a few hundred more had we gone in for a visit. We ended up buying at the same dealer where I bought an Accord 2.5 years ago.

    The dealers I came into contact with said the 2016 models are running out, and they are not getting any more of them. The 2017 models are arriving soon, they will be the same as the 2016 model (The new generation debuted in Detroit will be sold as 2018), but discounts may not be given for a while. The color options are limited too, we got the color we want through dealer swap, which put about 40 miles on odometer.
  • krishkrish Posts: 24
    llie19 said:

    Finished buying 2016 EX-L (no nav no RES) yesterday, in the greater DC area. Breakdown:
    Selling price: 30,312
    Processing charge: 300
    Tire recycling fee:4
    Tax (MD 6%), title, tag, security of interest:2184
    OTD: 32,800

    We got quotes from several dealers by emailing. The second best OTD quote I got was 33,350, but I may have been able to slash a few hundred more had we gone in for a visit. We ended up buying at the same dealer where I bought an Accord 2.5 years ago.

    The dealers I came into contact with said the 2016 models are running out, and they are not getting any more of them. The 2017 models are arriving soon, they will be the same as the 2016 model (The new generation debuted in Detroit will be sold as 2018), but discounts may not be given for a while. The color options are limited too, we got the color we want through dealer swap, which put about 40 miles on odometer.

    Did you ask for 0.9% Honda financing?
  • llie19llie19 Posts: 18
    Yes I got the 0.9% rate, with 0 down. I forgot to mention something really important: after they approved me for the rate, the monthly payment I was given is higher than what I calculated myself (there are many sites you can do that on), so I asked about it. Turns out you need to make a so called "gap" payment to Honda financial if you make 0 down payment, so that in the event the car gets totaled and the insurance company only pays the value of the car at the time of the accident, Honda America can still recuperate the remaining value on the car that you haven't paid yet (I admit that I have yet to fully grasp the concept of it, but what matters is that they want extra money on top of the agreed OTD price, a real alarm). This information was not given to me upfront. I pushed the finance person to ask more about this, and said we are willing to put some money down to eliminate the "gap" payment. After discussing with someone at Honda financial, they removed this requirement without needing any down payment. I will make sure when I make my first payment, the number matches what I calculated it to be.

    Just goes to show just because you verbally agreed on OTD price with the dealer does not mean you can put your guard down for the rest of the transaction. You must do your own numbers each step of the way to know you are not tricked here or there.
  • kyfdxkyfdx Everywhere, USAPosts: 126,124
    @llie19 Congrats on the new minivan!

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • krishkrish Posts: 24
    llie19 said:

    Yes I got the 0.9% rate, with 0 down. I forgot to mention something really important: after they approved me for the rate, the monthly payment I was given is higher than what I calculated myself (there are many sites you can do that on), so I asked about it. Turns out you need to make a so called "gap" payment to Honda financial if you make 0 down payment, so that in the event the car gets totaled and the insurance company only pays the value of the car at the time of the accident, Honda America can still recuperate the remaining value on the car that you haven't paid yet (I admit that I have yet to fully grasp the concept of it, but what matters is that they want extra money on top of the agreed OTD price, a real alarm). This information was not given to me upfront. I pushed the finance person to ask more about this, and said we are willing to put some money down to eliminate the "gap" payment. After discussing with someone at Honda financial, they removed this requirement without needing any down payment. I will make sure when I make my first payment, the number matches what I calculated it to be.

    Just goes to show just because you verbally agreed on OTD price with the dealer does not mean you can put your guard down for the rest of the transaction. You must do your own numbers each step of the way to know you are not tricked here or there.

    Thanks for the heads up about gap insurance.

    Congrats on your new van.
  • krishkrish Posts: 24
    llie19 said:

    Yes I got the 0.9% rate, with 0 down. I forgot to mention something really important: after they approved me for the rate, the monthly payment I was given is higher than what I calculated myself (there are many sites you can do that on), so I asked about it. Turns out you need to make a so called "gap" payment to Honda financial if you make 0 down payment, so that in the event the car gets totaled and the insurance company only pays the value of the car at the time of the accident, Honda America can still recuperate the remaining value on the car that you haven't paid yet (I admit that I have yet to fully grasp the concept of it, but what matters is that they want extra money on top of the agreed OTD price, a real alarm). This information was not given to me upfront. I pushed the finance person to ask more about this, and said we are willing to put some money down to eliminate the "gap" payment. After discussing with someone at Honda financial, they removed this requirement without needing any down payment. I will make sure when I make my first payment, the number matches what I calculated it to be.

    Just goes to show just because you verbally agreed on OTD price with the dealer does not mean you can put your guard down for the rest of the transaction. You must do your own numbers each step of the way to know you are not tricked here or there.

    If you don't mind, can you please let me know how much did they charge for "gap insurance" ?
  • llie19llie19 Posts: 18
    They did not show me the gap number explicitly. I only recall the monthly payment difference from my calculation was in the $20s, so that's over $1,200 over 60 months you are over-paying. This number may differ depending on the person's credit score and credit history with Honda financial is he has one. But I would definitely avoid paying it even if that means I have put down a few thousand dollars at the time of purchase.
  • kyfdxkyfdx Everywhere, USAPosts: 126,124
    llie19 said:

    They did not show me the gap number explicitly. I only recall the monthly payment difference from my calculation was in the $20s, so that's over $1,200 over 60 months you are over-paying. This number may differ depending on the person's credit score and credit history with Honda financial is he has one. But I would definitely avoid paying it even if that means I have put down a few thousand dollars at the time of purchase.

    It sounds to me like they tried to sell you an optional GAP insurance policy. There is no requirement to buy GAP insurance, even on a ZERO down loan.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • llie19llie19 Posts: 18
    kyfdx said:

    llie19 said:

    They did not show me the gap number explicitly. I only recall the monthly payment difference from my calculation was in the $20s, so that's over $1,200 over 60 months you are over-paying. This number may differ depending on the person's credit score and credit history with Honda financial is he has one. But I would definitely avoid paying it even if that means I have put down a few thousand dollars at the time of purchase.

    It sounds to me like they tried to sell you an optional GAP insurance policy. There is no requirement to buy GAP insurance, even on a ZERO down loan.
    That very well could be. The finance person said I was approved for 0.9%, so I asked how much for monthly payment, and found the number she gave me higher than my own calculation. I questioned that and she explained the gap thing. It's possible that she would have brought it up.naturally without me asking and made me aware of it.However, she was discussing with someone at Honda financial to see if the gap requirement could be removed (that's what she told me she was doing while she was typing, no phone call), making it sound like whether requiring this payment or not was Honda's decision, and I had to accept it if they insisted that I had to pay this gap. If fact I was prepared to make a down payment if they told me gap is required without a minimum down payment of some amount..
  • krishkrish Posts: 24
    Purchased 2016 EX-L (no packages) for $31,300 + tags + dealer fees + tax, OTD $33,184 in Charlotte, NC.
    Dealer threw in all weather mats, cargo tray, splash guard, wheel locks, window tint, 3M package, protection paint finish. I know few are just rip off,
    0.9% finance from Honda with $0 down.

    Did I pay more ?
  • llie19llie19 Posts: 18
    krish said:

    Purchased 2016 EX-L (no packages) for $31,300 + tags + dealer fees + tax, OTD $33,184 in Charlotte, NC.
    Dealer threw in all weather mats, cargo tray, splash guard, wheel locks, window tint, 3M package, protection paint finish. I know few are just rip off,
    0.9% finance from Honda with $0 down.

    Did I pay more ?

    I can't comment on the pricing, but it doesn't look half bad given what I have read and heard during my buying experience. I am considering buying all weather floor mats and cargo tray, maybe after market products if they are cheaper. I do think they are worth something your car is prone to getting dirty. Does anyone have any suggestions?
  • llie19 said:

    Finished buying 2016 EX-L (no nav no RES) yesterday, in the greater DC area. Breakdown:
    Selling price: 30,312
    Processing charge: 300
    Tire recycling fee:4
    Tax (MD 6%), title, tag, security of interest:2184
    OTD: 32,800

    We got quotes from several dealers by emailing. The second best OTD quote I got was 33,350, but I may have been able to slash a few hundred more had we gone in for a visit. We ended up buying at the same dealer where I bought an Accord 2.5 years ago.

    The dealers I came into contact with said the 2016 models are running out, and they are not getting any more of them. The 2017 models are arriving soon, they will be the same as the 2016 model (The new generation debuted in Detroit will be sold as 2018), but discounts may not be given for a while. The color options are limited too, we got the color we want through dealer swap, which put about 40 miles on odometer.

    Here in NJ, I got 31350 with dest as best price. Would you mind sharing dealer detail? I might travel and pick there if they offer same price it will save around 700-800, might be worth effort for extra saving.
  • krishkrish Posts: 24
    edited January 2017
    luckypra said:

    llie19 said:

    Finished buying 2016 EX-L (no nav no RES) yesterday, in the greater DC area. Breakdown:
    Selling price: 30,312
    Processing charge: 300
    Tire recycling fee:4
    Tax (MD 6%), title, tag, security of interest:2184
    OTD: 32,800

    We got quotes from several dealers by emailing. The second best OTD quote I got was 33,350, but I may have been able to slash a few hundred more had we gone in for a visit. We ended up buying at the same dealer where I bought an Accord 2.5 years ago.

    The dealers I came into contact with said the 2016 models are running out, and they are not getting any more of them. The 2017 models are arriving soon, they will be the same as the 2016 model (The new generation debuted in Detroit will be sold as 2018), but discounts may not be given for a while. The color options are limited too, we got the color we want through dealer swap, which put about 40 miles on odometer.

    Here in NJ, I got 31350 with dest as best price. Would you mind sharing dealer detail? I might travel and pick there if they offer same price it will save around 700-800, might be worth effort for extra saving.
    Even in NC, I could not able to get closer to this price ($30,312). I believe DC/Virginia has rebate value more than NC.
  • scdgoofyscdgoofy Posts: 28
    edited January 2017
    Just wrapped up a lease in Los Angeles. It is a 2016 EX-L with 12k miles per year and 36 months. MSRP was $37,100, cap cost was $31,982. Drive off was $822 (no cap cost reduction). Monthly before tax is $356.88. With LA County tax (9%), my monthly is $389.00.

    MF and residual were same as provided by Edmunds moderator - 0.0003 and 53%.

  • MichaellMichaell ColoradoPosts: 117,756
    scdgoofy said:

    Just wrapped up a lease in Los Angeles. It is a 2016 EX-L with 12k miles per year and 36 months. MSRP was $37,100, cap cost was $31,982. Drive off was $822 (no cap cost reduction). Monthly before tax is $356.88. With LA County tax (9%), my monthly is $389.00.

    MF and residual were same as provided by Edmunds moderator - 0.0003 and 53%.

    Congrats! Enjoy the new Odyssey.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • We bought the 2016 Honda Odyssey EX-L in Modern Steel Metallic in Northern, NJ. I got online quotes and then went into the dealership. The first dealer sent me a quote for $32,772. The "Sales Manager" laughed at me and didn't counter my offer. I went to the second dealer on Monday and their online quote was $31,658. The online sales person didn't mention that they didn't have my color. The Sales Manager was willing to get the color we wanted but didn't want to negotiate the price to $31,000.

    I sent emails to both dealers yesterday. Told the second dealer, that I am still interested and to let me know, when the price is $31,000 and they have my color. I sent copy of the second dealers quote to the first dealer.

    Sales Manager from the first dealership called me and left me a vm. When I called back he didn't apologize for his behavior on Sat but I did remind him that it was rude of him and not tell me directly that he wasn't going to counter. All of sudden, they were going to match the second quote and take of an extra $250. Their new quote was $31,350 vs $32,772 on Sat. I told him that I was willing to pay $31,000. They got back and said there is no more room for negotiation and they were taking a loss. I went to the dealership with the family at night and try to take off the $350 but I wasn't successful. I was willing to walk away but my wife, who is 9 months pregnant didn't want to go back and forth again. So I agreed to the deal and also helped that they had the color we wanted.

    When I first started to look at the car in November 2016, the quotes that I received were between $34,500-$32,150.

    We were already pre-approved by Honda Finance and wanted the 60% months at 0.9%. They came back and wanted to offer us something like, 60% months at 4%-5%. I told them that it wasn't going to work and the General Manger said he will do the 60% months at 0.9%. Off course the Finance Manager wanted to sell these other things but we refused it all.

    I had to keep reminding them that I was an educated consumer and stop wasting my time. I didn't need the car but I wouldn't mind having it. GM was curious to know my occupation. Didn't know, if he admired my preparedness and negation skills. :-) It did help that I work at a Investment Counsel Firm and did some research.

    Final Numbers:

    $31,350 (Car Price)
    $2,155.31 (NJ Sales Tax at 6.875%)
    $374.95 (DMV and other NJ Fees)
    $349 (Document Fees)


  • kyfdxkyfdx Everywhere, USAPosts: 126,124
    Congrats on the new Odyssey!

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • llie19llie19 Posts: 18

    We bought the 2016 Honda Odyssey EX-L in Modern Steel Metallic in Northern, NJ. I got online quotes and then went into the dealership. The first dealer sent me a quote for $32,772. The "Sales Manager" laughed at me and didn't counter my offer. I went to the second dealer on Monday and their online quote was $31,658. The online sales person didn't mention that they didn't have my color. The Sales Manager was willing to get the color we wanted but didn't want to negotiate the price to $31,000.

    I sent emails to both dealers yesterday. Told the second dealer, that I am still interested and to let me know, when the price is $31,000 and they have my color. I sent copy of the second dealers quote to the first dealer.

    Sales Manager from the first dealership called me and left me a vm. When I called back he didn't apologize for his behavior on Sat but I did remind him that it was rude of him and not tell me directly that he wasn't going to counter. All of sudden, they were going to match the second quote and take of an extra $250. Their new quote was $31,350 vs $32,772 on Sat. I told him that I was willing to pay $31,000. They got back and said there is no more room for negotiation and they were taking a loss. I went to the dealership with the family at night and try to take off the $350 but I wasn't successful. I was willing to walk away but my wife, who is 9 months pregnant didn't want to go back and forth again. So I agreed to the deal and also helped that they had the color we wanted.

    When I first started to look at the car in November 2016, the quotes that I received were between $34,500-$32,150.

    We were already pre-approved by Honda Finance and wanted the 60% months at 0.9%. They came back and wanted to offer us something like, 60% months at 4%-5%. I told them that it wasn't going to work and the General Manger said he will do the 60% months at 0.9%. Off course the Finance Manager wanted to sell these other things but we refused it all.

    I had to keep reminding them that I was an educated consumer and stop wasting my time. I didn't need the car but I wouldn't mind having it. GM was curious to know my occupation. Didn't know, if he admired my preparedness and negation skills. :-) It did help that I work at a Investment Counsel Firm and did some research.

    Final Numbers:

    $31,350 (Car Price)
    $2,155.31 (NJ Sales Tax at 6.875%)
    $374.95 (DMV and other NJ Fees)
    $349 (Document Fees)


    congrats on the car and baby! sounds like you reached the dealers' bottom line through back and forth bidding. don't let them fool you on the financing rate, i believe it has nothing to do with the sales price and is solely a decision made by honda financial (if you finance through them of course) based on your credit.
  • Hello group. Going to try to snag a 2016 Odyssey Touring and was wondering if you had Feb lease numbers for Denver for 36 month 12k MF and residual to include any factory to dealer cash. Thanks in advance.
  • kyfdxkyfdx Everywhere, USAPosts: 126,124
    wjfam1020 said:

    Hello group. Going to try to snag a 2016 Odyssey Touring and was wondering if you had Feb lease numbers for Denver for 36 month 12k MF and residual to include any factory to dealer cash. Thanks in advance.

    .00030 MF and 48% residual.
    $1450 lease cash.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thank you. Will let you know.
  • Does .00030 MF and 48% residual applies to San Francisco Bay Area also? Thanks...
  • MichaellMichaell ColoradoPosts: 117,756
    evincede said:

    Does .00030 MF and 48% residual applies to San Francisco Bay Area also? Thanks...

    Yes, the Honda lease numbers are national.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • We live in NJ and Are looking to purchase a 2016 odyssey lx for cash.  We've been soliciting prices from a number of dealerships. We have been looking at the base models with MSRP of 30,450. I just got an offer of 23,726.  We would need to add on 500 doc fee, 900 destination fee, tax, and registration fees so 25,126 plus tax and reg.  Trying to decide if we should buy or if we can realistically get it for less elsewhere.  Thanks


  • Good Evening All,
    I am planning to buy a 2016 Honda Odyssey EX-L (No Navigation, No Rear Entertainment System)
    The dealer near by quoted 30,788 (offered to take $300 off if I get financing through Honda)...

    I would like to get your thoughts on this deal - and any negotiation I can do on this...or any add-ons I can ask for?

    Thank you in advance for your kind inputs...
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