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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
24381 messages, Last post on Dec 05, 2009 at 9:37 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lookin4ody (Sep 04, 2005 12:43 am) |
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Replying to: sanjayb (Sep 19, 2005 5:19 pm) I live in DC area looking for 06 EXL-RES model. Thanks for the info. My email address is desixp-at-gmail.com Thanks, Vasu |
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| We just bought an '06 EX over the phone for $27,000 ... I hope that is a good deal!!! We wouldn't have had the guts to make an offer that low if I hadn't found these forums last night ... the dealer we visited seemed quite firm on the $28,000 neighborhood and the Edmunds TMV price for our area (Rochester N.Y.) is $28,301. But following a suggestion here, I emailed three other dealers last night. One called back today and said they wouldn't give a price over the phone; we had to come in. We didn't hear from the others but my husband called one tonight and asked for a price, saying "If you tell me $27,000 I'll buy it right now over the phone." We expected him to make a counter-offer and then we'd have time to call our original dealer to see what he said, but instead he called us back a few minutes later and took the $27,000! He had one on the lot (sage green) and now it's ours! | |
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Here is a writeup of my buying process that netted a 06 Ody at $400 above invoice, delivered home, full gas tank at no extra charge. I apologize if a few things may be far too obvious to some, nevertheless, it would help keep all in perspective. 1. Promise yourself the following: - Not to assume 'van is short in supply' and people are lining up to pick up the vehicle. This defeatist attitude will set you up for paying up more. - Use caution if a friend, coworker, or neighbor, 'knows' someone in dealership and can get you a good price. Doesn't hurt to know, but then, I think some of these well-meaning folks suffer from a variant of 'Stockholm Syndrome,' where if they know someone at the dealership, they feel compelled to direct traffic. - The guy at the other end (dealership) WILL wring out YOUR money to maximum extent. Courteous or not. - Like against Casinos, you cant win, but you can limit perceived loss. You cant win, because they can size you up better than you can size them up. - Try not to low ball unrealistically, you can be easily brushed aside. - Dont even think sticker, unless you wish to get a Darwin Award (this award is given to those whose IQ justifies their demise) 2. Use auto referral service like BJ's, Costco, Sam's Club You dont have to be a member of these clubs if you can do it smartly - find a friend to get you a list of 'participating dealer.' Do join when you are ready. Start from farthest away (say 250 mi), and then save the nearest for the last. Push the nearest for a better quote. Dont buy into the phrase 'negotiated price.' Make sure you join the club and do this formally once you are ready to do business. This does two things - gets you a below MSRP baseline without pow-wow, and perhaps, someone to complain should something go sour. KEY: Reach the contact listed, NOT a helpful substitute sales associate Try other dealers via normal internet email (skirting the club ones). 3. Protect your identity Consider using a legally acceptable alias. If you run into a lowball reject, you can call in again under your usual name. Oh heck, play mind games with them! Here are some key points: - When you call, use a single-call caller ID block (its free, check local phone company for * number, may not work for a Dealer 800 number). Or use non-cell, non-home, non-work phone. Consider a set of different calling cards. Do realize, when the operator transfers, your caller ID is flashed at agents desk. - Sign up for temperory emails - DO not select color or options upfront unless you are ready to get your final bid. 4. Some Observations: It seems the dealership is a house divided. There are sales agents and then there are their managers. Do not let a sales agent answer your call meant for internet manager. If you do, here is what may happen - agent will take your call, promise to call back with quote, and then tell sweetly that they cant do it. Chances are, he never even went to any Manager. From his perspective, a car in the lot of any shade, is a shot in the arm to make a sale to the next 'sucker' that walks in. A car flagged out as sold, or in transit, is his loss. Sales Managers are looking for bottom line (price paid - secretive dealer cost) while agents are looking to cross a hurdle, say $800 above invoice (a guess) before a sliding scale commission kicks in. However, be prepared to deal with a sales agent at instance of sales Manager. 5. Ditch that notion - Last years' Model is a Good Deal You cant win fiscally. If a vehicle depreciates 10% first year, you would need to negotiate about $2500-$3000 off 2006 offer. If your 2006 target were $500-$1000 above invoice, you would be sufficiently near or below to dealer cost. Chances are, the dealer would rather sell it to the next sucker that walks in at $1000 below invoice. Plan to keep it for 10yrs? Still a risk. Should another car total your vehicle in the next few years, their insurance will hand you actual car value (ACV). You may be left holding the bag. Final Comments: Hope some of you find this useful. This is a hop on - hop off type forum. Now that I have the vehicle, I'll bow out in a week or so. I may, however, hang around by the warranty forum though... Meanwhile... Go get 'em!!! MSG for HOST: Should you find this writeup useful, feel free to repost at times for the benefit of the Members. Thanks for keeping us in line, and we appreciate your volunteer effort. Ody_Man
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I apologize if this is not posted in the correct location. Does an offer of $35,000 sound fair for a 2006 EX-L RES NAV for an OTD price? I live in NW Florida, but I will definately travel to get a good price. Any opinions would be appreciated.
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Replying to: macdaddyg (Sep 20, 2005 2:42 pm) |
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Replying to: ody_man (Sep 20, 2005 5:39 pm) You da' man! Thanks for posting these insightful hints. I had already implemented most of them on my own when I bought our '06 Touring R&N last week after a multi-media haggling for several more. I never thought to sum them up as you did and I'm sure they'll live on. Hope you stick around or at least drop in regularly. FYI, I suffer from 'Stockholm Syndrome' and especially agree with your ever shrinking radius reduction pricing plan, saving local dealers for last. Unfortunately for our locals, they lost out by over a grand (more like $2K) to an Atlanta dealer who recognized they had to be competitive to my biz. Dave |
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Replying to: odysseyowner (Sep 20, 2005 7:40 pm) This compares the Manufacturer's Suggested Retail Price, Dealer Invoice Price, and Consumer Reports Wholesale Price (CRWP); I paid $12 for this info. The CRWP is the suggested place to start when negotiating. They suggest you should be able to buy a vehicle at 4 to 8 percent above CRWP, good luck doing so on any Odyssey locally as I too am in NW FL. This CRWP is significantly below Edmunds pricing (pre-T&T) that is based on actual transactions so obviously dealers are making a healthy profit but do offer some discount. Your model choice is one of the most popular so you should have less trouble finding one than I did on a Touring R&N. Note: All prices quoted include $550 destination but don't include any dealer prep fees, usually around $400. Manufacturer's Suggested Retail Price (MSRP) of EX w/ Leather RES and Navi (R&N), Manufacturer Code RL3875KW, is $34,845. Dealer Invoice Price for an EX/L R&N represents the dealer's maximum cost to acquire the car from the manufacturer at $31,399. The CRWP includes incentives and holdbacks, nothing cosmic happening on an Odyssey and it's near impossible to delve into this 'overhead' stash, at least on this vehicle. EX/L R&N Invoice Price is $31,399 minus Dealer Holdback of $1,029 equals a total CRWP of $30,370. Four percent ($1,215) and eight percent ($2,430) above this price means theoretically you should be able to buy this vehicle between $31,585 and $32,800 before T&T,. Adding six percent FL tax ($1,968), $400 for those hard to avoid dealer prep fees, $85 for tag, I come up with an eight percent over CRWP Out the Door price of $35,253. If you use four percent over CRWP it comes to $33,965. Your price of $35K is toward the upper end of this range (7%-ish). To contrast by showing what's really happening, Edmunds pricing is $33,944 (total with options, before T&T) and would represent an OTD price of basically $35,950. I didn't have success nudging Gary Smith (FWB) or Pensacola Honda much below MSRP (approx $500) on a Touring R&N plus they didn't have what I wanted in stock or inbound and few dealers will swap Tourings. Both kindly rejected the invoice up type approach saying this model is too popular to bargain that way. Bottom line is from what I come up with, $35K OTD for an '06 EX/L R&N is a good price in the Southeast. At the risk of suffering from 'Stockholm Syndrome' you may want to give the internet managers at Gwinnett Honda, (Honda Mall of GA?) or where I bought mine, Hennessy Honda in Woodstock, GA (Northern Atlanta) a try. When our Touring came in, (about a week), I flew there for $49 (Airtran 7 day adv) and they picked me up at the airport. It was a flawless transaction that I kicked off with Honda site e-mail quote requests from a large radius of dealers, would do it again, no pressure. I wanted to stay local but saved nearly $2K including gas home and got 27 MPG on the 350 mile trip back. Good luck and keep us posted!
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Replying to: davant (Sep 21, 2005 2:23 am)
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Replying to: odysseyowner (Sep 21, 2005 2:55 am) Enjoy the hunt, reap the rewards.
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