Honda Odyssey Forum banner

1 - 12 of 12 Posts

·
Registered
Joined
·
26 Posts
Discussion Starter #1
First-time poster, hoping to be a 2011 EX-L w/ RES owner shortly.

Can someone confirm the Invoice Price for EX-L RES in Canada. Using 8% off MSRP of $40,990 I estimate invoice of $37,711.

In GTA / Ontario there are a couple of dealers listing these at MSRP; curious if anyone knows who would go $500 over invoice or better?

Thanks!
 

·
Registered
Joined
·
19 Posts
Huntclub Honda in Ottawa sold me an EX-L for $36328.15. The deal was $43000 out the door. I don't know what the invoice price is. I got it 10 days ago.
 

·
Registered
Joined
·
26 Posts
Discussion Starter #3
Huntclub Honda in Ottawa sold me an EX-L for $36328.15. The deal was $43000 out the door. I don't know what the invoice price is. I got it 10 days ago.
Cool, congrats! Is that an EXL with RES or without?
 

·
Banned
Joined
·
728 Posts
First-time poster, hoping to be a 2011 EX-L w/ RES owner shortly.

Can someone confirm the Invoice Price for EX-L RES in Canada. Using 8% off MSRP of $40,990 I estimate invoice of $37,711.

In GTA / Ontario there are a couple of dealers listing these at MSRP; curious if anyone knows who would go $500 over invoice or better?

Thanks!
The dealer has 8% margin on the van or $3,279.20. That means his "invoice" is $37,710.80 (give or take), plus $1,590 freight = $39,300.00 plus a profit of $500.00 over invoice = $39,800. If you are paying cash, the dealer has another $2,000.00 in factory to dealer "trading dollars" so you should be at $37,800.00 if you are paying cash.

I got my EX RES in March at $500.00 over invoice. There is always a few extra charges (wheel locks, block heater, etc.) but that is the target price (plus taxes, license etc.).

Happy hunting and good luck!
 

·
Registered
Joined
·
26 Posts
Discussion Starter #6
The dealer has 8% margin on the van or $3,279.20. That means his "invoice" is $37,710.80 (give or take), plus $1,590 freight = $39,300.00 plus a profit of $500.00 over invoice = $39,800. If you are paying cash, the dealer has another $2,000.00 in factory to dealer "trading dollars" so you should be at $37,800.00 if you are paying cash.

I got my EX RES in March at $500.00 over invoice. There is always a few extra charges (wheel locks, block heater, etc.) but that is the target price (plus taxes, license etc.).

Happy hunting and good luck!
This is awesome and very timely. I was just trying to figure out how the $2K factors into the equation.

So, will my sale invoice show the price before or after the $2K? In your scenario, will it show $37,800 and do I automatically "bank" the $2K (vs. a rebate, etc.)??
 

·
Registered
Joined
·
26 Posts
Discussion Starter #7
Huntclub Honda in Ottawa sold me an EX-L for $36328.15. The deal was $43000 out the door. I don't know what the invoice price is. I got it 10 days ago.
Was this deal cash or finance? i.e. was your invoice price inclusive of the $2K dealer incentive?

thanks!
 

·
Banned
Joined
·
728 Posts
This is awesome and very timely. I was just trying to figure out how the $2K factors into the equation.

So, will my sale invoice show the price before or after the $2K? In your scenario, will it show $37,800 and do I automatically "bank" the $2K (vs. a rebate, etc.)??
The invoice price in my earlier email is before the $2,000 in cash available from Honda to the dealer. If you re check my earlier email, I've given you the dealer invoice. The dealer is not likely to show you his invoice, but that doesn't matter, as long as you know what it is, so you can negotiate up from there.

After you have made your best deal, then talk to the dealer about the $2,000.00. Keep in mind that many dealers will offer you a $2,000.00 off msrp as being a "special year end deal". The dealer is still keeping his full 8% margin on this deal if you accept msrp less $2,000.00. You need to negotiate up from his cost (invoice) and then say you are paying cash and take the $2,000 off your negotiated deal.

Hope that helps. :)
 

·
Registered
Joined
·
26 Posts
Discussion Starter #9
The invoice price in my earlier email is before the $2,000 in cash available from Honda to the dealer. If you re check my earlier email, I've given you the dealer invoice. The dealer is not likely to show you his invoice, but that doesn't matter, as long as you know what it is, so you can negotiate up from there.

After you have made your best deal, then talk to the dealer about the $2,000.00. Keep in mind that many dealers will offer you a $2,000.00 off msrp as being a "special year end deal". The dealer is still keeping his full 8% margin on this deal if you accept msrp less $2,000.00. You need to negotiate up from his cost (invoice) and then say you are paying cash and take the $2,000 off your negotiated deal.

Hope that helps. :)
Thank you, this definitely helps! So let's assume the best deal is 8% off MSRP plus $500 (over invoice) for a total of say $38,200. Is this the price that gets reflected in my bill of sale, or will the $2K come off (and I will automatically and immediately get the benefit of the $2k cash incentive), or is there some process to get this post-sale as a rebate, etc from Honda vs the dealer?

I guess I am asking whether the dealer automatically passes on the $2k savings and includes that in the sale price thus lowering my base price?

Thanks again
 

·
Registered
Joined
·
1 Posts
Thank you, this definitely helps! So let's assume the best deal is 8% off MSRP plus $500 (over invoice) for a total of say $38,200. Is this the price that gets reflected in my bill of sale, or will the $2K come off (and I will automatically and immediately get the benefit of the $2k cash incentive), or is there some process to get this post-sale as a rebate, etc from Honda vs the dealer?

I guess I am asking whether the dealer automatically passes on the $2k savings and includes that in the sale price thus lowering my base price?

Thanks again
From past experience, Honda dealers typically take the applicable incentives on a pretax basis, which is better for you. I recommend to negotiate from the invoice price and prove to the dealership that you know what the invoice price is. All cars are sold somewhere between the invoice price and the msrp so the magic is to know what the average selling price of the Odyssey is for fair dealer profit. A lot of sources online suggest a 3-5% markup over invoice so a good strategy is to offer invoice plus 2% markup and go from there. If you need to know the invoice price of the Odyssey, go to carsaver.ca as it's free of charge. They also have a premium service where they provide you with the lowest quote for $40. I haven't used this before but might be worthwhile to see how much you are expected to pay since it's only $40.

Also, keep in mind that the invoice plus 2% is before all applicable incentives. If there's a 2K cash incentive, you will be buying the car at below invoice. Hope this helps
 

·
Registered
Joined
·
687 Posts
In GTA / Ontario there are a couple of dealers listing these at MSRP; curious if anyone knows who would go $500 over invoice or better?
nikg, which dealer(s) were you planning on going with?

:huh:
 
1 - 12 of 12 Posts
Top