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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
19701 messages, Last post on Jul 08, 2008 at 10:06 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Thank you to all in this forum for help with my research. In particular, thank you mike20878 for paving the way with local dealers here in DC. I pulled the trigger this morning after dragging the deal low enough that others would not match. Here it is: Price: $30,295 ($29,295 was offered, but I had to pay extra $1000 to get 2.9%-60mo) Destination: $635 (same from every dealer I found) Dealer prep/processing: $100 So that's $31,030 (this is what I was measuring between dealers) Add to that: $930.90 VA tax and $93.50 tag fee = $32,054.40 Out The Door and On The Road. Dealer notes: Herson's (Rockville): They got the deal. Original quote was lowest and then came down to beat all competitors. On the invoice they listed about $400 in dealer installed options (wheel locks and paint matched moldings) but they provided an overall discount to bring it down to their quoted price. A little odd, but that passes my "no surprises" test. Of course I was offered extended warranty, lojack, etc. at signature time but was not heavily pressured. We bought a Mitsubishi from their sister dealership back in 2000 because they went the lowest. Criswell (Gaithersburg): Close 2nd. Original quote was competitive and they were willing to go within a few bucks of the low offer. Internet sales rep was quite professional and indicated he was sincere about his (very close) clean deal and would be ready if I got any unexpected add ons from the low offerer. Rosenthal Fairfax: Original internet quote was in the running, but their dealer fees are high ($880 vs. $100 for the MD guys). Their sales staff was courteous and professional in both their phone and email contacts with me. They did drop their price when pressed but still couldn't get close enough to save me the trip to Maryland (I'm out by Dulles in VA). Guess what, if they would've matched those discounted fees from the MD guys I would've bought from them. BTW, this is who Costco referred me to for their Auto Buying program. Leesburg Honda: I would really have liked to buy my car from them since I can just about ride my bike to the dealership, but they were just not competitive (more than $3000 off). I even called the sales guy to see if he would match other offers he said he couldn't get close. He was a nice enough guy and kept in touch to see if any of the low guys tried some hokey surprises but I just don't think his management gave him enough rope to work with. Bottom line: Get internet quotes from several dealers. Look on this forum to see what similar cars are going for. See who's willing to deal. Low bar starts with invoice, then gets lowered by incentives and if you can get a dealer to dig into hold-back you've probably bottomed out. I feel like I got a good deal. I hope you do to. 
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Replying to: dodgehappy (May 13, 2008 4:44 pm) This was calculated as follows: -Dealer Invoice of $26,229 (before destination) -Plus 1% of dealer invoice for Honda Ad Fee of $262 -Plus destination of $635 -Less hold back given to buyer of $579 -Less $2000 dealer cash incentive given to buyer of $2000 For a total of $24,547, plus TTL Look at post #18973 for more details on what I paid for TTL. With that said, your quote appears to be in the range for a fair deal on an EX. Note sure how leasing will play in to the equation. Good luck and get one soon! |
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I will shortly start the process of purchasing a 2008 Odyssey EX-L RES from a (probably) central Texas dealer (Houston, Dallas, Austin, San Antonio, etc.). No financing. I can blanket the available dealers with phone calls & emails, but before I do, any tips, suggestions or recommendations? Sincerely, - Henrik
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Replying to: dgrazda (May 13, 2008 12:48 pm) I remember reading somewhere (cannot remember if it was on the CR website, or here on this forum, or on the main Edmunds page) that the holdback really doesn't necessarily have to be passed down to the consumer. Also, the $2k Dealer Cash is the same way from what I was reading... if it were a $2k CUSTOMER REBATE, they have to give it to you, but the Dealer Cash is like their incentive from the manufacturer to sell a vehicle, but not necessarily money for the consumer to "use" when negotiating a price. Don't take this as the Gospel until you do more research though... We've found that this forum was very useful in negotiating our price, but as a consumer, and the one who every month will be paying on the vehicle, it's up to you to research, research, and research again to make sure you don't get a lousy deal. GOOD LUCK!!!! |
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Starting "donkeypunch"ing dealers in western Va and NC. I want to use the Honda 0.9% financing so these numbers are $1000 higher than what you're used to seeing. So far, the best quotes are $34,964 from Hendrick Honda in Charlotte (3 1/2 hours away) and $35,261 from Rule Honda in Staunton Va (2 hours away in the opposite direction). The next best is $35,784 from Asheboro NC Honda. I've just started the process, can anyone share good or bad experiences with either Hendrick or Rule?
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Replying to: 63hokie (May 14, 2008 10:26 am) |
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Replying to: mike20878 (May 14, 2008 12:46 pm) Assuming the car cost before dealer incentives is $30,000 and a loan term of 60 months: 2.9% financing, $1,000 dealer cash ($29,000 loan) = Total Repaid: $31,188.00 (interest: $2,188, payment: $519.80) 4.9% financing*, $2,000 dealer cash ($28,000 loan) = Total Repaid: $31,626.60 (interest: $3,626.60, payment: $527.11) *4.9% is actually somewhat low. CapitalOne is at 5.29%. Navy Federal Credit Union is at 5.0%. So you're saving $438.60 total over the life of the loan to go with the 2.9%. In order to get below the total repaid value going with the 2.9%, I'd need to get down to 4.3% financing, which I haven't seen anywhere available to me. As a side note, I'm looking at a 2008 Odyssey EX-L w/ RES. I've gone donkeypunch style and the best I've gotten so far is $29,500 OTD with $2,000 dealer cash ($28,200 price including destination). |
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Replying to: gedd209 (May 14, 2008 1:04 pm) There is a breakeven point in your figures, you just have to see where that is, and balance it against the chance that you'll still own the vehicle at that point. So... it's only cheaper if you keep the vehicle past the breakeven point.. In the example above, I think the breakeven point is around 27 months.... Probably better to take the lower interest rate, in this case... regards, kyfdx |
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Replying to: gedd209 (May 14, 2008 1:04 pm)
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Replying to: dgrazda (May 13, 2008 12:48 pm)
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