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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
19826 messages, Last post on Jul 24, 2008 at 3:14 AM
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Replying to: venkatt (May 05, 2008 5:11 pm)  He claims his manager who approved the deal was looking at the wrong car. So, instead he presents me with this offer: Invoice $32,420 Freight 635 Honda Advertising 100 Options  cost 894 (incl. wheel locks which I think are usually thrown in) Total $34,049 Profit 450 Total $34,499 Rebate Process fee 100 Taxable total $32,399 Meanwhile, on the way up the guy from Herson's in Rockville called me and I mentioned the $28k figure I thought I was getting. He gets back to me and says he can't do it for that, but can do it for $1,800 more at $29,800. I got him to fax me a quote and he was good to his word. The guy at Coleman claimed there was "no way" Herson's could sell it for that price. My dad put me in touch with his salesman at Northwest Honda in Owings Mills MD and he offered the same deal *including* freight. Is it true there is no additional dealer holdback? Both the guy from Coleman and Northwest told me they are passing this on to the buyer and there is no factory rebate. That appears accurate when I re-read the incentive details on edmunds.
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Replying to: mike20878 (May 05, 2008 8:13 pm) I kinda tried to warn ya they would try and do something to change it up. ALWAYS a good idea to have an email or competitors quote... anything b/f you make the drive to their turf. But sometimes even with that info, they can still pull the old, "So sorry, we sold that vehicle earlier today, and it was still showing in our inventory"  Do I speak from experience or what!  Their offer to you just sounded a little too good. And typically, if it walks like a duck, smells like a ......  Anyway, looks like you're getting some realistic offers. Right around $30K +- is a real number they CAN do. Regarding incentives, they are right that there is no add'l "factory rebate" at this time. Just the $2K factory to dealer incentive they have been offering for the past couple months.
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Replying to: derrickson (May 05, 2008 8:59 pm) The guy from Northwest is telling me this would basically be a zero deal. Do they really ever lose money on a deal? Granted, they are paying interest on the money they borrowed to have the car on the lot and will save on that. A friend of mine told me his last BMW deal got the salesperson fired when she screwed up and sold it to him for a sweet deal.
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Replying to: mike20878 (May 06, 2008 4:59 am) Well, from our perspective, isn't that the goal? Seriously, speaking for myself, I really dont know all the ins-and-outs of the industry. Seems reasonable that all dealerships "buy" their vehicles from the Mfr for the same price. My question has always been about everything you hear about monthly / annual sales quotas, volume goals, etc. I have no idea if they have additional incentives that would motivate them to sell at or below their "true" cost. One has to wonder when you see a dealer (ie bosch honda?) offering new '07 Tourings for $30K. They're either dumping them at a loss to get them out of inventory, of the mfr bumped up their incentive. 
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Can someone pls confirm the dealer's holdback calculation? Is this 3% of MSRP (invoice/dest) and 3% of MSRP options? Is true invoice really = invoice - incentive - holdback? Doc fees vary. Is this something that can be removed? When determining the final OTD cost, should TTL & fees be included before tax or after tax? Thanks |
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Now the Herson's internet manager is emailing me as the salesman I'm dealing with is at a training for the new '09 Pilot: The invoice is $33054 including freight on the EX-L DVD and NAV Odyssey.... the incentive is $2000 and the dealer 'holdback" is $716.20...... so I can do $2700 below invoice (cannot use special rates).... thats us making no money, but we cant lose $500.... I guarantee they have a "package" when you get there.... nobody will sell at a loss He's actually coming down $81 from the quote I got last night, including freight. The guy at Northwest was insisting he could sell it to me for $29,801 including freight. My dad says he trusts him implicitly.
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| I just spoke to the guy at Northwest and he claims holdback is more like $1200. I think Hersons is selling me a bill of goods. I think savings $600 is worth an hour's drive, but I'd rather get it locally so I'm trying to get them to match the price. | |
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Replying to: mike20878 (May 06, 2008 9:40 am) Herson at $30,354 NW at $29,801 I think you can see at this point you are kinda splitting hairs. Even these two are within a few hundred of each other. Personally, I don't think you are going to do much better than these numbers at the moment. Right around $30K is the target, and looks like you're there. You could probably call BS that the holdback is $716. You could also follow-up with NW and refuse to pay a penny more than $29,801 (except for TTL). Either way, at this point you're over $6K below msrp, and $3K below invoice. Either way, you're getting a decent deal.
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Replying to: derrickson (May 06, 2008 10:53 am) I sent an email to Herson's calling him out on the holdback. I'll see what he says. I'm tired of the back and forth.
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Replying to: mike20878 (May 06, 2008 9:40 am) This is what I got from JIM Coleman Honda "Thank you for bringing the lower price to my attention. Jim Coleman Honda is the largest and cleanest Honda dealer on the east coast. No other dealer can buy a honda for less than Jim Coleman. Bring in any offer you have we will not lose a deal over price. The $28,000 quote is way under cost and I am thinking that Mike was quoted on an EXL without navigation or the DVD player. Here is my breakdown: My Invoice (What we pay for the Odyssey EXL with Navigation) is $32,419. Honda is offering $2000 in dealer cash which drops our cost down to $30,419. I am offering you a price of $29,400 which is a $1000 losing deal in order to be competitive with other internet dealers. If you have a better deal bring it in we will not lose a deal over price but 28k for a loaded odyssey doesn't sound realistic." |
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