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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
20362 messages, Last post on Sep 07, 2008 at 12:19 PM
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I am shopping for an EX-L w/RES Went to three dealerships yesterday here in Nashville, TN area. I have an 04 Ody end of lease to trade in, payoff is $13,301 so I figure it is close to break even, which would save me about $2000 between mileage overage and the last months payment. Dealer #1 Darrel Waltrip Honda: about 5 miles from my house. They refused to buy my vehicle saying miles were too high 72k, but that they would write me a check for $2200 to pay off and turn in lease myself and my payment would be $690. I told them I was not interested in that and they said okay we will turn the car in and pay the costs, your payment will be $670. Their offer on sale was invoice plus about $800 in options plus $750 in profit plus $299 doc plus Tags etc.. Needless to say I left. It was comical, because I overheard the closer tell my salesman that I was a shopper and they didn't want to waste time with me. Dealer #2 Trickett Honda: They offered to purchase my vehicle for $13,900 and sell me the van for $32k, I told them it was too high and they pulled out the old what payment do you want, so I told them $550, he proceeded to take me to the finance manager who told me the best he could do was $670/mo at 4.99%. I told him I was pre-approved through honda and he correctly informed me that the approval was for $ amount, not at a specific rate. I told him my credit score was good and he proceeded to tell me that my score was 600 when I know it is 720's. He gave a story that Honda uses some agency I've never heard of etc, but wouldnt show me. After some conversation he said he could add $2000 to my trade and lower the rate 1% to get me down to $600. I left and told them to call if they could do better. Dealer #3 Crest Honda. They valued my car at $10,500 but said they would roll the difference into my new loan which made the total including everything at $36,600 out the door. He said my payment would be in the $890's. I about fell out of my chair laughing. I told him "I'm no math genius but at 60 mos thats $54K". He asked what kind of payment I wanted and I told him $550 he returned later and asked if I was interested in a model with fewer options. LOL. I sure am glad to know that a dealership would never try to screw anybody. Maybe I should shop Minnesota. The amazing thing to me was that these dealerships each had over 30 Odys on their lots, and I even overheard one of the salesman talking on the phone to someone saying they haven't been selling "poop". I was at dealer No. 2 at 1;00pm and I was the only customer at the store, no lie, 10 salesman sitting around watching EURO Cup. It does confuse me. So anywho, that was my day at three local dealerships. Last night I emailed a few dealers in Knoxville 2 hrs away and have received quotes of $29,100 and $28,500 plus Tags, Tax, title. So I may be headed that way this weekend. I'm sure it will be the same crap when I get there, I'll keep you posted. PS. Anyone else find it odd that a pre-approval only applies to a dollar amount and that the rate is up to the dealers, that's lovely. 
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Replying to: melodyc (Jun 25, 2008 6:41 pm) If I were you I will buy Toyota because I know USA Toyota warranty will be honored in Canada. |
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I went to a Atlanta area dealer and the floor manager at this dealer said he could beat the price offered by the Delaware dealer. I was kind of shocked that he said he could beat the price of $ 29049.00 I am going to go back at a later date and see. Doc fee is $599 - Tax would be 7% and Tag is around $15 dollars
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Replying to: cillakat (May 16, 2008 9:45 am) |
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Replying to: dilvala (Jun 26, 2008 3:40 pm) Who is the delaware dealer ... Also can someone post current best offers from the NJ / Philadelphia area dealers for EXL + RES or EXL + RES & NAV. Thnaks for your help regards Brainage2 |
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Hi What is the minimum down payment expected by honda to qualify for the special APR. I have a credit score of 710 regards Brainage2 |
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Replying to: m00gambo (Jun 25, 2008 6:24 pm) I asked the dealer to match a deal struck by a previous poster to this board (Dinh_Henry - thanks) - The minivan was listed at MSRP 34,445 + 1,696 dealer installed options (Propack (splash guard, cargo tray, wheel lock) 699, Pinstripes 299, Door edge guard 299 Moonroof visro 399) - every EX-L minivan on their lot has these dealer installed options - as a low volume dealer, they claim this is actually a "lower" set of options compared to others I got this out the door for 31,300 (I negotiated OTD) Break up : Base+Destination+Options 29,250, Tax 1,800, Lic, REg and other fees $250 Did not get the low financing (got one at 4.9 APR for 3 years)- this may be something that you may be able to muscle out For the EX-L with RES, the 29,250 figure seems to be the bottom line for base+dest+dealer installed options (One way to get to this is to take 2,000 dealer cash from MSRP and trade off dealer options + profit vs 2-3% holdback) ie the negotiating room here seems to be dealer holdback vs options+profit - perhaps you can squeeze $200-300 if you are willing to walk away There's another piece that'll save you some $$ - that's the sales tax savings on any trade-in - if you find the dealer giving you a fair market price on your trade, then you can apply that savings to out the door negotiation Don't bother negotiating dealer-installed options separately - you should not pay more than $300 for these options anyway - negotiate the OTD and also of course, the financing (financing includes APR, term, down payment, extended warranty, gap insurance and dealer specific service options - make sure you have alternate financing available to walk here as well) They also offer an Extended warranty by Fidelity which after an initial quote they drop to $150 over "cost", "cost" being Honda's extended warranty (for ex. 7 yr, 100K 0 deductible is $1295 I think by Honda and these guys want 150 more as they claim their "platinum option" is better - I saw a rental car coverage that I may nt have seen in Honda Care) - the financing APR is also sensitive to their ability to sell extended warranty, gap insurance (about $80 for 3 yrs) and other dealer specific service items (3 yr oil change etc) As a negotiation tool, you may want to build a buyer's offer template - a detailed one is available for free at carbuyingtips.com (mentioned by ihatevt2 that posted on this board) - David McDavid Frisco told he could do 31,400 over the phone but I was more comfortable with the Irving dealer as the Irving location is known as "volume" location - I dealt with a sales person but if you want to squeeze $$ out, work directly with the sales manager (check their website for names as I cannot post them on this board) I am happy with what I paid other than the financing part (perhaps the perfect deal would have been with 0.9 apr for 3 years) I really liked working with the sale person - everything was on time and in sequence without any unnecessary waits - he even drove me back from CarMax as they quoted a much better price for my 10 yr old SUV that I wanted to get rid off - Looking ahead - I think Honda is still delivering a bunch of Odysseys to dealers (at least in DFW) - I don't think that there are a whole lot of buyers - dealer inventories are at least 2+ months (one way to find this out is see if you can take the VIN number from inventories and check) - this when 09s need to come in sooner or later - so, i'd expect Honda to throw in more incentives in july - but based on what you can squeeze on the base+dest+options the next 3 days, additional discounts obviously have to be something that the dealer has to pass on to you from Honda ie there ain't nothin more you can squeeze in a month that you can't today Goodluck
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Replying to: dfwbuyer2 (Jun 27, 2008 8:08 am) Your deal raises further questions in my mind as to how Honda is handling the special financing. Maybe MPLSHONDADLR can shed some light. It appears from this buyer's experience that getting the 0.9% or 2.9% financing is not automatic. Why would a buyer, for reasons other than a low credit score, not be eligible for the sprecial financing? Is there currently a trade off for the dealer where they get more dealer cash (beyond the $2000 that appears to be available nationwide) for deals that don't use the special financing? The simple question is: can the dealer sell the vehicle for less on a cash deal than with the special APR? I understand that this can vary by region, but what is everyone's understanding of how the special financing is working right now? Thanks.
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Replying to: benf (Jun 27, 2008 8:44 am) My guess is that when Honda provides incentives to the dealer (not the customer ones), these are split across the sale of the vehicle and financing - if these are 2 separate bins, then a dealer may not make money on how you buy (cash vs finance) - Someone more familiar with the business structure of a dealership can answer this better but from what I saw, there were 2 separate owners of profit - the sales manager and the finance director - u have to negotiate, directly or indirectly, with both of them for the best deal depending on how the mfr to dealer incentives work (unless of course you can negotiate at successively higher level up to the person responsible for sales+financing+service for all dealerships in a region) I was talking to a fleet mgr at a Toyota dealership (reg Sienna) - he gave me an interesting option to reduce the base cost - he showed me his allocation of Siennas for the next 2 weeks that were in transit to Houston drop off (from where it is trucked to the dfw dealership) - if I can make my mind up on a Sienna before it being delivered to Houston, I could take off a few "factory" items that are typically installed at the "port" in Houston - items like rear spoiler etc - I added up about $800 MSRP ie you strip the minivan of items you don't care and then negotiate from there - The Honda sales guy said he was not aware of that ( and may not matter for odysseys as their factory options are quite limited) std disclaimers on credit score, how hot a car in the market etc apply
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