2008 Honda Odyssey

[reddeals]

I plan to buy a new Odyssey EX, the sale person gave me a quote as
$ 36990
+ 1560 - freight
+ 404 - air tax+admin fee
- 5000 discount
=33954+tax -2000 gas card

Is it a good deal? Usually how much can negotiate when buying a new car? do I need to buy the extra rust packages or paint packages (cost around $900 +tax)? Thanks.

[bigred123]

Spend the $65 on an APA membership to double check. I just bought a 2008 Acura TL and they were advertising $5K for cash purchases, however when I got the APA report, there was an additional $4K rebate that Acura never disclosed.

I bet the same is true with the Odyssey.

[sunnybono]

I plan to buy a new Odyssey EX, the sale person gave me a quote as
$ 36990
+ 1560 - freight
+ 404 - air tax+admin fee
- 5000 discount
=33954+tax -2000 gas card

Is it a good deal? Usually how much can negotiate when buying a new car? do I need to buy the extra rust packages or paint packages (cost around $900 +tax)? Thanks.

I just sent you a PM on an excellent referral. Good Luck!!!

sk

[Allie75]

I'm looking at leasing one soon and want to know if this is a good price. The salesperson quoted $37,320 (includes freight, not taxes).

This includes the current incentive of $1000 cash rebate and $1500 gas program ($2000 rebate less $500 program cost). Also, they are offering a lease rate of 1.9%.

Is this a good price? If not, please provide the dealership as to where I can get a better deal in the GTA (preferably the EAST end).

[HP_John]

I plan to buy a new Odyssey EX, the sale person gave me a quote as
$ 36990
+ 1560 - freight
+ 404 - air tax+admin fee
- 5000 discount
=33954+tax -2000 gas card

Is it a good deal? Usually how much can negotiate when buying a new car? do I need to buy the extra rust packages or paint packages (cost around $900 +tax)? Thanks.

FYI, the gas card includes $500 from the dealer, it's not just from Honda corporate alone like so many wrongly assume. Usually you can't negotiate that much on a new car, because dealer margins are much smaller than the discount they're giving you. Those heavy discounts are due to you paying cash or not financing via Honda, & a bad economy. In a normal economy & via Honda financing, you wouldn't be able to get those huge discounts on a Honda, the dealer would be losing too much $.

[emjay]

Which dealership was this at, if you don't mind my asking? I'm looking at getting an Odyssey.

[dsalinas]

True. Most incentives are for cash purchases only. But ... and this is the big but .... paying cash, and putting it on a (relatively) low interest Line of Credit or personal loan, ends up being cheaper (at the end of the day) than not getting the incentives, with a lower interest rate.

I highly recommend crunching the numbers before you decide anything. This means, find out what you can expect to pay, if you pay cash. Go to CarCostCanada.com. Not that i like plugging them, but ... they let you know the invoice cost, plus all of the incentives currently available. This is crucial information. Once you figure out what you can expect to pay if you pay cash, find out what kind of interest rate you can get from your bank (or any bank) on that amount of money. Now is a great time to have a loan since interest rates are so low! I know it sounds weird to say that .. but if you have to be in debt for something, NOW is the time to be in debt. You might be able to get something as low as 5% on 40K (which is about what you will need for a new Odyssey).

So now you know about what you should pay for the car if you pay cash, and you know what kind of interest rate you can get from the bank on that $. Figure out how much the cost of borrowing is going to be, and add that to the amount you will pay for the car (don't forget to include tax!). Compare that to the cost of the vehicle if you Finance/Lease it through the manufacturer plus the cost of borrowing. I'm sure paying cash is going to be cheaper.

I bought a brand new 2008 Odyssey EX-L last month. Paid cash. Got $9000 off MSRP. Paid 36200 after taxes and freight. My total cost after 5 years is going to be about 46500. If I financed it through Honda, I would have paid about 58000 (@7.7%: including taxes and cost of borrowing) over 5 years! Even if Honda offered 0% ... it would be cheaper to pay cash, and then 5% interest on my Line of Credit!