LS001 – New 2016 Honda Odyssey Buying Experience, Price Paid and Rules Followed

In Personal Finance, Podcast by RaghuramLeave a Comment

We purchased a new vehicle last month (August 2016). I posted our buying experience and price paid in the Edmunds Forum. One member sends me a private message requesting the name of the dealer and name of the sales person. I gave him the details. Then a few hours later, I got the following email from him.

Thanks for the info – was told a no go from the beginning from her.  She said it was an “ugly deal” with a ton of extra options.  I said what extra options?  Everything you listed looked like factory installed standard other than remote (they have it installed on every EX-L in stock)…she went silent.  Haven’t heard back from her all day.  Started my email attack probably like you did (sent one to their fleet/internet department and received a call and text from them already).  Probably should have not contacted her since her commission is adding to the price but took a shot at trying to cut out the long negotiation.

When a car sales person calls that deal “ugly with extra options,” then you give yourself a pat on the back that you did walk away with a “great deal.” I’m sure; you want to know what we did, how we did and details behind negotiating a new car. I’m going to give you everything I got and learned from our experience in vivid details.

What Vehicle?

  • Make: Honda
  • Model: Odyssey
  • Trim: EX-L
  • Color: Lunar Silver with Gray Interior
  • Accessories:
    • Wheel Locks
    • Splash Guard
    • Cargo Tray
    • Key Scratch Protectors
    • Windows Tinting
    • Remote Engine Start 2 from Honda

Who is the dealer?

Well, before we go there, here’s our timeline from test drive to the decision to active shopping phase to closing the deal.

  • Shopping Phase
    • Test Drive: March 2016 (Crown Southpoint Honda)
    • Email Attack 1: March 2016 (from 5 dealers)
    • Decision: March to July 27, 2016
  • Buying Phase
    • Email Attack 2: From July 28th
    • Color Choice: July 31, 2016 (Auto Park Honda)
    • The Dilemma and another test drive  (Why again? I will tell you later)
    • Purchased Vehicle: August 19, 2016

Golden Rule of Buying a New Car:

Here’s the set of rules I followed buying a new car, and I mean, I stick to it like my life depends on it.

  1. Know what car you are buying – Make, Model, Color, and Accessories
  2. Know the every possible incentives Manufacturer offering to the dealer with expiry date
  3. Find High Volume Dealer for the month you are shopping
  4. Find Desperate dealers wanting to meet the sales quota
  5. Don’t plan on buy the car from the dealer you went for test drive
  6. Chances of getting a Great deal is high likely with dealer from other cities
  7. Be ready for an emotional roller coaster ride ( and frustrated days).
  8. The dealer will fight for every penny from you ( and you should be too).
  9. Be ready with email replies (Email Templates to respond to dealers)
  10. Don’t use your primary email address, phone number or full name
  11. It’s easier to negotiate via email then phone call or in person (if you follow my advice)
  12. Have patience. Know your numbers and do what it takes to reach that target price.

Know you know the rules I followed (and you should too) when it comes to shopping and buying a new car.  In this first podcast show, I go obver the details of the the rules.

 

 

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