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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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Anybody know if Honda came out with an Odyssey factory price incentive? If so, does it cover the Touring model, how much is the incentive, and when did it go into effect? I ask b/c we struck a deal on January 3rd,(last Saturday) and the dealer said there were no purchase incentives, other than 1.9% financing for 36 months and 3.9% for 60. We left a deposit, and submitted our financing application, but haven't taken delivery yet, so I'm hoping we will 'qualify' for any incentives should Honda now have one in effect. Please help! Thanks all
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| I am not yet aware of any new incentives on the 2009 Odysseys, but I am hopeful that they will be announced in the coming weeks. It would be great if they announced some new ones today, but it might be too soon after the last incentives expired. I have been following 2009 Odyssey prices for the past month with multiple e-mails to multiple dealers in my area and I have received quotes for 2009 EX-L with DVD and NAVI ranging from $33,288-34,213 (inlcudes destination) plus tax,title, license and "document fees" which range from $119-169. Really this is about as low as they will go and the dealers tell me that they hope Honda will announce some newer incentives as well. I am also not optimistic that Honda will annouce both financing and cash incentives that can be combined. It will probably be an either or situation, but hopefully I'm wrong and my waiting will pay off. | |
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Replying to: SUPERBOAT21 (Jan 05, 2009 7:31 pm) |
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Hi gang, in case it can help someone, I'll break down the deal I struck last night. Having done all my research and been prepared, I picked up the phone about 6:30 pm, talked to the "internet" guy at the closest dealer to me and was done signing papers about 9pm; that includes about 20 minutes to drive over there once we had an agreement. I'm in St Louis MO. 09 Ody EXL with RES (rear entertainment system - the DVD player) but no nav. MSRP - $35,325 (note as of Jan 1 has gone to $35,425) Agreed upon selling price: $31,119 (dealer invoice minus $1250 incentive plus $309 in profit - includes dealer's doc fee of $159). Wrote it into a lease using these details: 36 months, 15K per year miles Residual value 48% (note EXL without RES would be 49%) Money factor - .00101 (note this is really good, roughly equivalent to 2.4%) Waived security deposit per letter from AHFC (Amer Hon. Fin. Corp) as a returning lessee. That letter also preapproved credit well above what was needed for this van. Capitalized the AHFC acquisition fee ($595) - otherwise known as baking it into the lease payments so no money down. Roughly $42 in title fees, etc. My local tax rate is 7.575% All this cooks out to a monthly payment of ~$495. Wrote a check for the first month only and was home by 9:30, so three hours completely start to finish with essentially no stress at all. A couple notes on the above: The price is about $100-$150 higher than I had in mind but being comfortable in general with my numbers, I was fine with it. A buck fifty spread over 36 lease payments isn't worth grinding over. As to the $1250 incentive, it (note to Superboat21 - this might help you since you did paperwork on Sat 1/3 - you should ask to see if they'll apply the incentive money - negotiate as you see fit) was a surprise pop-up incentive just for the weekend that someone posted about above - thank you very much, abreillatt. It expired yesterday but I wouldn't be surprised to see some support on the 09 Ody come out in today's program - but who knows...). Anyway, hope this helps, Squirrel
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Replying to: squirreljam (Jan 06, 2009 8:08 am) Haven't spoke to my dealer yet, but they are suppose to have the car today, picking it up tonight. I might pull my trade out of the deal, as im having second thoughts on giving up that car. It's only valued at $5k. If I do so, do you think that will get me any further leverage in the selling price? I'm sure the car will go straight to the auctions, as it's a 2002 with 75K miles, so it's not like they will be putting it on their lot... Thanks everyone! |
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Replying to: squirreljam (Jan 06, 2009 8:08 am) Vehicle negotiated price was 29,900 Lease basically is $1242 which is basically the acquisition fee, first month, tag. 36 month lease with 12K miles for $441+ tax. We also got the Money factor - .00101. Hope this helps someone. |
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| I've given up on the 08 since the other dealer did not want to deal with me. I ended up with silver pearl 09 EX-L NAV/RES. The lowest i got from numerous calls/internet managers was $33400 plus TTL, i was dead set on it to get it next day for 33K Sunday 1/4. Got a call around 8pm that Sat night with an $32,399 plus TTL, i got home that night with the van. Also, same as the other, the process was quick and stress free. I think we spent more time deciding on the color good thing they had all the color options. Thanks everyone for all your help. | |
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I have been told by a few Boston dealerships that effective today through early March there is a $1,250 dealer cash program in place. It is not clear if the destination charge is also waived. If the destination charge is not waived then this program is really poor as it is much less than the 2008's $3.5K plus destination charge (~$670). So Honda has decided to see what the demand level is out in the market for January and when they realize that it is horrible, then hopefully they will increase their cash rebate program to a more meaningful amount. My guess / hope is that with the economy only getting worse, demand for large vehicles continuing to fall, with Honda's sales falling significantly, with the US Big 3 Bailout allowing for sweet deals on their vehicles and Christmas credit card bills coming due that they will see how bad January sales are and then update the program in February. I plan to hold off for a few weeks and wait them out. Any other info out there?
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Replying to: neprop (Jan 06, 2009 2:33 pm) Now is already 2009, Honda has no time to play with 08 model while they still have many months to hope for better sale of 09 model thus less incentive. |
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Price: 36.9K destination 675.00 Doc fees 49.00 No additional accessories, just standard items included in a touring. Thanks for your help!!!
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