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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
24266 messages, Last post on Nov 07, 2009 at 1:17 PM
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My lease condition is as follows. I signed 12/24/2007 (Diamond Bar Honda, CA). My credit score is 712. Amount due at lease signing: $3972.00 Capitalized cost reduction: 2970.79 Sales tax on amount paid in cash: 245.09 Advance monthly payment: 419.66 Initial title fees/CA tire fees: 8.75 Initial registration fees: 251 Document preparation fee: 45 Optional DMV electronic filing fee: 28 Sales tax on doc fee: 3.71 (total 3972.00) Gross capitalized cost 29,353.74 Capitalized cost reduction 2970.79(-) Adjusted capitalized cost 26382.95 Residual value 15897(-) Depreciation and any amortized amounts 10485.95 Rent charge 3470.40(+) Total of base payments 13956.35 Lease payments 36(divided) Base monthly payment 387.68 Monthly sales tax 31.98(+) Monthly payment 419.66 Agreed upon value of vehicle as equipment at lease signing 28758.74 Acquisition fee 595(+) Gross capitalized cost 29353.74 Mileage restriction is 12,000 per year (15 cents per mile). * At signing, the sales person told me that the lease price is same for everyone. That's why there was no negotiation. He did not ask me what price I want and I did not tell him the desired price. The sales person said to me the fixed price, which is same for everyone is $26,495. Furthermore, they did not tell me the money factor and interest rate. When I asked about APR, they said that there is no APR. I asked again what interest rate is. They said that there is no interest or it is almost zero. I thought it was a good deal because interest is zero. I think they tried to make me confused with money factor and interest (rate). They did not mention money factor or relationship between money factor and interest rate. Now they are saying that it is not requirement to say those things (“sue us if you can, the attorney cost will be more than the recovery"). They are offering free engine oil change for three years. Do you think just accepting it is the best way? Because they strongly refused other than giving free oil change, I offered DVD installation. I am waiting for the reply but it will be refused because when they say “wait,” I know it means “no.” I waited so long time when I bought in the dealership and I waited so long time until the car is repaired (there was an original defect as described below). I waited, waited and waited. I'd like to cancel the contract. If that is not a way, I want to change it into finance (with the same original money down (about 4000) and same monthly payment (419) with 4.9 % APR for 5 years; the price would be about 24000). They say that contract change is impossible. But, because the sales person only said that only the lease price is fixed, thus if we change it to finance, that lease price will not apply. Furthermore, there is no change for the money in and out. Furthermore, I will pay 419 (about) for 2 years more. Actually, I think this is fraud. I did not know about lease (lease factor and that the price can be negotiated because the sales person said like that). Because my car was in Honda's garage at that time for total loss (accident) and my insurance contract does not provide rent car, I needed a car. And at that time (12/24) the sales person was so kind that I tried to help him. Also I’d like to give my family a surprise present. I did not know that to help him would result in huge waste of money, time and energy (stress). Furthermore, the car's right sliding door did open to the full extent from the beginning (I found it right before I started driving home). So I put the car in the Honda for about a week from the beginning (12/27/07 because almost service men went home at that 12/24 afternoon). This is my first lease experience. How should I handle this? Please help me. My initial capitalized cost reduction(2970.79)+Advance single payment(387.68) is 34.40% higher than now going national featured plan beginning January 3rd (2499*134.40%=3358.67). Monthly payment (387.68, 35 times) is 49.68% higher than now going national featured plan beginning January 3rd (259). I requested adjustment according to January plan but they refused for the reason that January they have incentive but on December sales there is no incentive. So, I said that I will pay for the incentive amount but they again refused because Honda Finance Corporation will not allow the change. But when I called Honda Finance Corporation later, Honda Finance said that if dealer resubmits, it will be OK. Thank you.
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I am getting bids from dealers in the Phoenix, AZ area right now for the 2008 Odyssey EX-L with no DVD (RES), and no NAV. The best quotes are coming in around $32,200 OTD, which means the breakdown is something like this: Sales Price ~ $29,000 Tax ~ $2300 Doc Fee ~ $380 Title/Registration ~ $580 Is this a fair price now or should I wait? Anyone else find better quotes in AZ for the EX-L or EX-L w/ DVD or EX-L w/ DVD & NAV? I understand tax is fixed by the city and doc fees vary from dealer to dealer, but how does the title/registration vary from dealer to dealer? I thought the title/registration fee is regulated by the state govt? Is that true? |
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Hoping I could find some assistance. My family has been looking into buying an odyssey for a while. We have shopped several dealerships. Many of them are very sneaky and we just like dealing with them. We did haggle a good price in september on an exl at open road honda. After much back and forth .. they came up with 26,000 plus . I am not sure what else they were going to add on besides the tax and tags. I assume a doc fee and who knows what else. We did not go for it then due to frustration. We really wanted one with the dvd and they would not budge. Anyhow please advise me on the "correct" honest price for this car. We are looking for a good deal and would welcome working with a great dealership. THanks in advance. Anywhere in NY, NJ and PA is great. We need a c ar soon!!!
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Replying to: bboy2 (Jan 16, 2008 8:26 am) |
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Replying to: ariane1 (Jan 16, 2008 5:30 am) |
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Replying to: 1104 (Jan 16, 2008 9:08 am) |
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Replying to: elmo2002 (Jan 14, 2008 7:31 am) Selling price $35,234.00 Processing Fee - $ 299.00 Tax 3% - $ 1,065.99 Title - $ 134.97 Total - $ 36,733.96 Hope this helps. Yours, Murmal.
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| Is there anyone out there on the "inside" that can share information about upcoming Honda incentives for Feb. 2008 (Odyssey)? I'm considering purchasing, but I want to wait for the low interest rates. Anyone know what they offered last Feb.? | |
Has anyone gotten a great deal on a 2008 Odyssey EX-L RES in the NC area that they are willing to share?
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Replying to: lstevens (Jan 17, 2008 8:14 am) 
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