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About to purchase Odyssey for the first time! Need help with some final questions!

2K views 8 replies 5 participants last post by  woodpecker 
#1 ·
Hi -

I have been reading as much as I could in this forum, since I found it about a week ago, and learned a lot!
We are about to purchase a new Ody for the first time! My last car purchase was many, many years ago, and I made many mistakes.

I was hoping that members of the forum, especially those who purchased in the last year or so, could help me with answering some final questions; regarding the purchasing process, and the first days of ownership.

Re: extended warranty - I am planning to decline it. From what I have read in the forum, you can still purchase it elsewhere, even out of state, over the internet, later! But what is the deadline after the purchase date? (or timeline after purchase) Do I have to do anything on the day of purchase, or otherwise I would be ineligible later??

Re: add-ons - I am planning to decline all (or at least paying for them). Everything can be bought and installed later, at a much better price, that's what I understand from the forum. Do I have that right, basically? Am I forgetting something?
Spouse for example really wants roof rails, but I said; let's think about that later, unless they are preinstalled.

Re: the condition of the car: I have learned here to look for scratches, smooth opening and closing of all doors and tailgate (and stopping mechanisms intact), and check odometer, check tires (any tires that I should clearly decline?), anything else?

Re: what should be handed over with the new car: 2 sets of keys (and a valet key?!), separate manuals for Ody, and Nav if applicable, 2 headsets for RES if applicable. Anything else?

re: financing - now this is complicated and difficult/different for everyone - we plan a mix of cash and 3 year loan.
Was there anything you wish you had known?

What did you have with you when you went to the dealership?

Any other tips for purchase day or the days after??

Thanks so much!!! I very much appreciate everyone posting here!
 
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#2 ·
Congrats - I'm sure you'll enjoy the Ody a lot. What model did you decide on? I've tried to answer some of your questions below:

Re: extended warranty - I am planning to decline it. From what I have read in the forum, you can still purchase it elsewhere, even out of state, over the internet, later! But what is the deadline after the purchase date? (or timeline after purchase) Do I have to do anything on the day of purchase, or otherwise I would be ineligible later??

--> Why would you decline it? If you buy it now, you can put it in your financing. If you buy later, unless you have the cash, you'd have to finance it on a credit card or Line of Credit (both not a good way to finance things). Just negotiate and call around BEFORE you buy it.

Re: add-ons - I am planning to decline all (or at least paying for them). Everything can be bought and installed later, at a much better price, that's what I understand from the forum. Do I have that right, basically? Am I forgetting something?
Spouse for example really wants roof rails, but I said; let's think about that later, unless they are preinstalled.

--> Again, if you get it now, at your dealer, that would allow you to potentially finance it in your loan. Saving your cash in the future for other things. Just my opinion. Again, you can negotiate this part to a certain extent if they know you are serious about buying the car.

Re: the condition of the car: I have learned here to look for scratches, smooth opening and closing of all doors and tailgate (and stopping mechanisms intact), and check odometer, check tires (any tires that I should clearly decline?), anything else?

-->Most places would let you take it elsewhere for a mechanical inspection. If its a franchise dealer (highly recommended), then Honda has to stand behind it which gives you much more recourse than a non-franchise dealer. Make sure you ask for the CPO reconditioning records and service history plus Carfax accident report. Make sure the Carfax is complete with ALL pages!

Re: what should be handed over with the new car: 2 sets of keys (and a valet key?!), separate manuals for Ody, and Nav if applicable, 2 headsets for RES if applicable. Anything else?

--> Yes

re: financing - now this is complicated and difficult/different for everyone - we plan a mix of cash and 3 year loan.
Was there anything you wish you had known?

-->Not really - I work in the car business so I knew the rates going in. Its a bit different here in Canada as we don't have tiered financing based on credit score. Whether I have a 600 or an 800 score, we could both qualify for a 2.9% for example. But make sure you know what rates are available to you depending on your score. Again, call around and ask banks too.

What did you have with you when you went to the dealership?

-->Basics. Insurance info, drivers license, credit card for a deposit. Make sure you take the car for a LONG test drive. Go on the highway, take some good turns, tight parking maneuvers etc.

Any other tips for purchase day or the days after??

--> Make them go through the car! Get them to demo the whole car. Every switch, every button, under the hood, in the trunk, spare tire tools etc. Don't let them get away with 'its all in the manual' crap

Thanks so much!!! I very much appreciate everyone posting here!
Good luck!
 
#3 · (Edited)
Financing: Simple interest not the rule of 78's ( all interest is owed even if paid off early)

Purchase day: Be ready to walk out. They want to get you captive wanting it and willing too pay too much. Get up, catch you breath and head for the door. Tell them you have others to look at. Know what you want to pay before hand. Know what your payments are going to be before walking in or you are dead meat letting them play the numbers game for monthly payment. Monthy payment means squat..... it's the total price you are paying for it. After you sign the papers it's all over with....there is no day after to re-think things.
Have fun!!!:)
 
#4 · (Edited)
Hi - thank you for your replies, this is so helpful!

I am confused about this:
-->Most places would let you take it elsewhere for a mechanical inspection. If its a franchise dealer (highly recommended), then Honda has to stand behind it which gives you much more recourse than a non-franchise dealer. Make sure you ask for the CPO reconditioning records and service history plus Carfax accident report. Make sure the Carfax is complete with ALL pages!

I am going for a new car with single digits on the odometer... this does not apply, right?


What about the part with the long test drive, and the FULL demo of the car, including under the hood? Is this for a brand new car, too?
I did consider a (short) test drive...
 
#7 ·
Sorry - I assumed you were buying a used car. So if its brand new, then no inspection needed. As for a demo drive and demo of all the features etc, this is just as important on a new car. Most new car dealers have surveys that get sent out by the manufacturer of the car. This is often how they get their quarterly incentive bonuses - by hitting certain performance criteria.

If their scores fall below a threshold, that hurts them and that can jeopardize their bonus payment. Also, you should go in the last week of a month - dealers will be trying to hit their monthly targets and this can mean that they will be more inclined to work harder to get a deal. Especially at this time of year.
 
#6 ·
Simple interest is what most loans are, you pay interest on the balance of the principle. Rule of 78's basically front loads all the interest to be paid off up front while little principle is paid back at first. Not used too much nowadays but I always ask because I'll payoff loads rapidly.
 
#8 ·
Like John said. Be ready to walk out that door!!! I have done that more than once to get a better deal.

And best to find your own financing rather than dealer financing. With dealer financing, the dealer usually gets a commission for getting you the loan Although the last auto loan, I had my financing ducks all lined up in a row, and the dealer actually got me a better deal - 0.99% APR on a used Ody just off lease with only 22,000 miles.
 
#9 ·
Re: what should be handed over with the new car: 2 sets of keys (and a valet key?!), separate manuals for Ody, and Nav if applicable, 2 headsets for RES if applicable. Anything else?
I got 2 regular keys + valet key. I'm not sure they still give printed manuals though... there's a thread on the forum somewhere about ordering them (for free IIRC) so I suspect perhaps not. You should still ask just to be sure.

You are correct about accessories as far as I know. Dealership will try to rip you off. You can order most online for about half the price they'll ask of you. The only reason for buying there is for peace of mind for the stuff which requires more complex installation. If something goes wrong, they can't put the blame on someone else. I only got the floor mats and trunk liner so after they quoted me $INFLATED, I quickly declined and went on to see what other bogus reasons they had for trying to sell me a car above MSRP. I still can't believe they expected me to have to ask to get down to MSRP.

One last thing: be prepared to go look at the competition. Even better, go actually look at the competition and let them know. If the salesmen figure out that you think the Ody is 10x better than a free Sienna/Caravan/Sedona, you'll loose.
 
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