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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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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 11:48 am) 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 9:26 am) |
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Replying to: mike20878 (May 14, 2008 11:46 am) 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 12:04 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 12:04 pm)
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Replying to: dgrazda (May 13, 2008 11:48 am)
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| Hi, We will be buying an 05-07 used Odyssey EXL in the next 4-5 weeks. I love the donkeypunch method but it is written for buying new cars. Can it be used to buy used? Has anyone tried it buying used? | |
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Replying to: mike20878 (May 14, 2008 12:17 pm) 08 Touring $34,000 base + dest w/$2000 dealer incentive $35,000 base + dest w/$1000 dealer incentive and 0.9 financing + $1,050 sales tax + $10 title + $44.50 tags $35,104.50 - $11,000 = $24,105 at 5.0% for 3 years = 36 x 722.43 = $26,007.48 $36,104.50 - $11,000 = $25,105 at 0.9% for 3 years = 36 x 707.06 = $25,454.16 $26,007.48 - 25,454.16 = $553.32 - $30 less Virginia sales tax = $523.32 less with 0.9 financing |
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