Car purchase...what would you do?

G

gecko

2,500+ Posts
I'm going to buy a Honda Odyssey.

The prices for brand new are not that daunting...it will end up being between $28.5 and $30k. A 2 year old Odyssey (20k miles) from CarMax would run me $24k. The only thing the CarMax Odyssey doesn't have that I want is the DVD system (got kids). Financing is not an issue.

Used or new...any thoughts...?
 
I really hate to say this, but this is the absolute worst time of the year to buy a new car. Therefore I would have to say, buy the used one....if you have to have it right now.

However, if you were patient and waited until the end of the year, you could probably get your NEW Odyssey for 24K. The closer it gets to the end of the year, the bigger the rebates and the more negotating power you have....the dealers really want to move those cars to make room of the new models.

Here's the key to negotiating when buying a new car (my buddy who works for GMAC financing let me in on this big buying tip)

***Remember that with REBATES, the dealer is still going to make the FULL sticker price on the car*** Therefore, they really haven't made you a deal like if you were buying a car in June when there are hardly no rebates and you have to "haggle" them down. People think that they cannot negotiate price when they get a $3000 rebate off a car.....WRONG!!! Here's how the numbers work.....

What you pay with a $3000 rebate.....
$30,000 car - $3000 rebate = $27,000 (sounds pretty decent eh?)

What the car dealership gets.....
$27,000 (from your bank) + $3000 rebate from the factory = $30,000 (the dealership just made full sticker price off the car)

If you were buying a brand new model that cost $30,000 in June with NO rebates, would you be stupid enough to pay the full sticker price? No way in hell!!! You would negotiate them down 2-3-4 grand.

So why can't you negotiate later in the year, when the rebates are great knowing the dealership will get full sticker price anyways?

Most people don't and dealerships make a killling.

If you can, wait until Nov/Dec my friend and get yourself a great deal. There will still be plenty of Honda Odyssey's somewhere out there.
 
Looks like haggle to me....
cow.gif


My bad.
 
Minivan driver >> SUV driver

I guess it depends on what’s important to you. Do you want the warranty that comes from the new Odessey, or is it not worth it to you? I wouldn’t let the DVD player be the defining issue – you can have one installed for under 1K with a healthy sized LCD screen, but generally, the factory units will be better integrated.

Another thing, if you’re interested in the used market, you can come up with better savings by finding an individual selling outright (don’t dillude yourself into thinking Carmax has better quality vehicles). Private sellers generally aren’t in it to sell over market value, and a good clean car that was owned by someone who was good to it, isn’t as hard to find as you’d think.

But, my favorite option in this instance is to find a CPO (certified pre-owned) vehicle at a dealership, make certain you get a good deal (use kbb.com, etc), and then you have the protection of a warranty with the price of a used car. I also wouldn’t let your old vehicle be used against you as a trade-in – you just give the dealership more leverage against you when you’re negotiating.

Good luck.
 
With 20K is not the Honda's warranty transferable to you while under the 36K or whatever coverage period?

I would bet that it is. ALSO delaerships will SEARCH for warranty covered issues for you if you bring the car in as the bill Honda of North American not you for the repairs.

DVD- aftermarket. I uderstand wanting the DVD but the factory installed version from Honda is decent, but you can get a MUCH larger screen in the aftermarket. Fyre has them periodically on sale installed for like $799 with a 10 inch screen.

I might try and find a Honda Odessy from a responsible individual and make the sale contingent on an inspection by nearest dealership.

Or do as another poster suggested wait a cople months when the new year models are coming in fast. However isn't the oddessy holding it's sale price pretty weel and moving pretty well off the lots as well? I thought my brother-in-law was on a wait list two years ago?
 
I would save the dime and get the used car, but CarMax wouldn't be my first choice (and I wouldn't buy a minivan nomatter what). Can't you negotiate with CarMax (directly or indirectly through trade-in) or is it really fixed price?
 
I bought my wife an Odyssey on 12/31/03. I faxed every car Honda dealer within 200 miles with a letter saying EXACTLY what I was going to buy (down to the color and all of the add-ons she wanted). Then told them that whoever made the best offer would get my business. There was a $2,500 spread between the high and low offer.
 
You can always talk the dealer down. I don't care what time of the year it is. Now get the new one. The reason is because you will later regret not having the DVD player.
-The price of the car is always negotiable. Just act like you don't need it.
The art of shopping around or talking someone down is making it appear that you do not need the item to exist.
 
This is all very helpful...the PM's have been great as well. H4L - looks like you have a pretty good plan.

This is not a problem I need to solve today...I'm going to shop the hell, out of this thing.

As for the SUV idea...guys, its over for me. I'm shamelessly whipped. My manhood has been sapped away by daughters, mortgages, jobs, nieces, nephews, sister-in-laws.....

Thank God for my teenage son.
 
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