swapping honda odyssey to a new one

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vanpan
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swapping honda odyssey to a new one

Post by vanpan »

I currently own a 2019 honda odyssey EX with 12000 miles on it that i purchased 30 months ago. I am able to sell in on caravan for 29800.I am able to get a brand new 2020 honda odyssey EX for 29500 +TTL which is roughly 32500. The only difference between the 2019 and 2020 is that the 2020 has 10 speed honda transmission instead of the 9 speed . I got to pay roughly 2700 for this upgrade. Thinking of doing it. Your thoughts ?
sc9182
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Re: swapping honda odyssey to a new one

Post by sc9182 »

That depreciation of less than $1500 a year. In fact - you may lose that much year-over-year just due to model-year change -- not even including deprecation due to miles, reduced warranty, 2nd owner (used) Vs. 1st owner (newly titled). In fact folks lose 10-15% right off for the fact they drove the car OFF the dealership lot upon purchase.

With 2020 purchase - you get new tires, new 2+ years warranty (compared to current one), less expensive maintenance (first 1 or 2 maintenances are usually cheaper than 3rd, 4th onwards)

2020 is NEW decade compared to: 2019 is so LAST decade (as far as year-of-make concerned :-)

Hey - who doesn't like new-car smell :-)
Last edited by sc9182 on Mon Apr 19, 2021 8:40 am, edited 1 time in total.
bloom2708
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Re: swapping honda odyssey to a new one

Post by bloom2708 »

What would be the sales tax, registration and fees?

12k miles is barely broken in. Don't just do something, stand there. :)

Maybe put that $2,700 into bitcoin. I am kidding. But, maybe I'm not kidding. :twisted:
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Olemiss540
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Re: swapping honda odyssey to a new one

Post by Olemiss540 »

Just curious what made you decide to actually shop/quote these things if you already had a 12k mile odyssey in the driveway?

Shopping due to boredom? Some issue with the current ride that has you back in the market?

No, I prefer to keep the most money I can in the market, not adding a new gear to my minivan but it's a pretty good deal and wouldnt hurt to get another year warranty and 12k less miles so coin flip.
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gas_balloon
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Re: swapping honda odyssey to a new one

Post by gas_balloon »

29500 plus TTL. Depending on where you live, this can be around $3000 extra.
For a one model year, you're basically paying about 3500 to upgrade. I wouldn't do it with my own money for a nearly identical car. The 10 vs 9 speed hardly makes a difference. It's a minivan, not a sports car - you're not going to take it to a drag race.
In fact, I'm looking to buy a used 2018+ Odyssey (but touring trim).
rascott
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Re: swapping honda odyssey to a new one

Post by rascott »

Used car market is crazy.... $2700 is a pretty good deal. Makes you wonder who is gonna buy the car from Carvana after they mark it up $3k.
burritoLover
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Re: swapping honda odyssey to a new one

Post by burritoLover »

That ZF 9-speed is crap. I believe the 10-speed is designed by Honda in-house.
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helloeveryone
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Re: swapping honda odyssey to a new one

Post by helloeveryone »

vanpan wrote: Mon Apr 19, 2021 8:20 am I currently own a 2019 honda odyssey EX with 12000 miles on it that i purchased 30 months ago. I am able to sell in on caravan for 29800.I am able to get a brand new 2020 honda odyssey EX for 29500 +TTL which is roughly 32500. The only difference between the 2019 and 2020 is that the 2020 has 10 speed honda transmission instead of the 9 speed . I got to pay roughly 2700 for this upgrade. Thinking of doing it. Your thoughts ?
Not certain either way BUT if you decide to do it try to take the carvana quote and have the dealer you are buying it from match the offer.

That way you save on the sales tax of the new one.
rascott
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Re: swapping honda odyssey to a new one

Post by rascott »

burritoLover wrote: Mon Apr 19, 2021 10:11 am That ZF 9-speed is crap. I believe the 10-speed is designed by Honda in-house.
Yeah. I specifically didn't buy a 2018/19 odyssey because of that transmission

Edit.....OP...I would do this deal just to get away from that 9 speed transmission that has notorious problems. Another brand new car + Another 3 years of warranty is just icing.
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cchrissyy
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Re: swapping honda odyssey to a new one

Post by cchrissyy »

i see the positives as an extra year of warranty and a fresh set of tires

the negatives are the increase in price and the transaction cost. where i am, sales tax and registration might be $3k

therefore the negatives are too large and the deal is not worth doing

i wouldn't care at all about the different transmission
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gas_balloon
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Re: swapping honda odyssey to a new one

Post by gas_balloon »

Also try to get quotes from (in addition to Carvana) CarMax, Vroom and Shift. I agree with the other poster that you can take that quote to the Honda retailed you will buy the new car from and try to get it matched - that will reduce your sales tax considerably.
Lexx
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Re: swapping honda odyssey to a new one

Post by Lexx »

My rule on Hondas is to drive em till they don't drive anymore. We still have our 2014 Odyssey and it's never had even so much as a hiccup. We plan on keeping it for another few years. The 1 extra gear on the transmission means very little. It's a big vehicle. You're never going to get back the money in fuel economy. I'd spend the extra money on maintenance (the little that it requires) and heck, go buy a couple hundred bucks of dogecoin while you're at it!
rascott
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Re: swapping honda odyssey to a new one

Post by rascott »

Lexx wrote: Mon Apr 19, 2021 12:13 pm My rule on Hondas is to drive em till they don't drive anymore. We still have our 2014 Odyssey and it's never had even so much as a hiccup. We plan on keeping it for another few years. The 1 extra gear on the transmission means very little. It's a big vehicle. You're never going to get back the money in fuel economy. I'd spend the extra money on maintenance (the little that it requires) and heck, go buy a couple hundred bucks of dogecoin while you're at it!

You likely haven't researched the 2018 redesign and the transmission issues that a prevalent in that 9 speed. Think there are even class action suits ongoing over it and why Honda likely dropped them for the 10 speed in 2020. (10 speed was only on top level trims in 18-19)

The pre-2018 Odysseys are very reliable. But you can read on Odyclub the issues people of had with the '18 and newer. Also received a worse than average reliability score from Consumer Reports.
MAandMEMom
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Re: swapping honda odyssey to a new one

Post by MAandMEMom »

We are literally driving ours into the ground. “Nellie” is a 2003 with 335,000! On a similar note, we contemplated selling a 2018 Mazda3 and CarMax came out on top and was going to give us nearly $1k more than we paid just 14 months ago. Not sure how they will have pulled that one off.
Lexx
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Re: swapping honda odyssey to a new one

Post by Lexx »

No I have not. We actually went to the Honda showroom a couple of months ago to look at new Odyssey. I must say I was not impressed. The vehicle was repackaged slightly differently and of course there were some new electronic doodads. But on the whole it was the same big box as we already have and we didn't see a reason to throw more money into a new vehicle. Honda has been having some issues lately. Their CRV had a horrible oil dilution issue where coolant was leaking into the engine oil.
rascott wrote: Mon Apr 19, 2021 1:12 pm
Lexx wrote: Mon Apr 19, 2021 12:13 pm My rule on Hondas is to drive em till they don't drive anymore. We still have our 2014 Odyssey and it's never had even so much as a hiccup. We plan on keeping it for another few years. The 1 extra gear on the transmission means very little. It's a big vehicle. You're never going to get back the money in fuel economy. I'd spend the extra money on maintenance (the little that it requires) and heck, go buy a couple hundred bucks of dogecoin while you're at it!

You likely haven't researched the 2018 redesign and the transmission issues that a prevalent in that 9 speed. Think there are even class action suits ongoing over it and why Honda likely dropped them for the 10 speed in 2020. (10 speed was only on top level trims in 18-19)

The pre-2018 Odysseys are very reliable. But you can read on Odyclub the issues people of had with the '18 and newer. Also received a worse than average reliability score from Consumer Reports.
Polymorphic
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Re: swapping honda odyssey to a new one

Post by Polymorphic »

Lexx wrote: Mon Apr 19, 2021 2:31 pm No I have not. We actually went to the Honda showroom a couple of months ago to look at new Odyssey. I must say I was not impressed. The vehicle was repackaged slightly differently and of course there were some new electronic doodads. But on the whole it was the same big box as we already have and we didn't see a reason to throw more money into a new vehicle. Honda has been having some issues lately. Their CRV had a horrible oil dilution issue where coolant was leaking into the engine oil.
rascott wrote: Mon Apr 19, 2021 1:12 pm
Lexx wrote: Mon Apr 19, 2021 12:13 pm My rule on Hondas is to drive em till they don't drive anymore. We still have our 2014 Odyssey and it's never had even so much as a hiccup. We plan on keeping it for another few years. The 1 extra gear on the transmission means very little. It's a big vehicle. You're never going to get back the money in fuel economy. I'd spend the extra money on maintenance (the little that it requires) and heck, go buy a couple hundred bucks of dogecoin while you're at it!

You likely haven't researched the 2018 redesign and the transmission issues that a prevalent in that 9 speed. Think there are even class action suits ongoing over it and why Honda likely dropped them for the 10 speed in 2020. (10 speed was only on top level trims in 18-19)

The pre-2018 Odysseys are very reliable. But you can read on Odyclub the issues people of had with the '18 and newer. Also received a worse than average reliability score from Consumer Reports.
To be fair, oil dilution issues aren't uncommon in today's turbocharged engines. My friends' Ford EcoBoosts have the same issue. The Odyssey uses the tried-and-true J35 engine, which is naturally aspirated, not turbocharged.
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vanpan
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Re: swapping honda odyssey to a new one

Post by vanpan »

helloeveryone wrote: Mon Apr 19, 2021 10:12 am
vanpan wrote: Mon Apr 19, 2021 8:20 am I currently own a 2019 honda odyssey EX with 12000 miles on it that i purchased 30 months ago. I am able to sell in on caravan for 29800.I am able to get a brand new 2020 honda odyssey EX for 29500 +TTL which is roughly 32500. The only difference between the 2019 and 2020 is that the 2020 has 10 speed honda transmission instead of the 9 speed . I got to pay roughly 2700 for this upgrade. Thinking of doing it. Your thoughts ?
Not certain either way BUT if you decide to do it try to take the carvana quote and have the dealer you are buying it from match the offer.

That way you save on the sales tax of the new one.
Can you explain how i will save on tax, if i sell the car to the dealer i am buying from ? I am just not aware here.
Getting the dealer to match may be tricky. Carvana is offering me more for my 2 1/2 year old honda with 12000 miles than what i will pay for a new Honda from the dealer. Essentially i will be asking the dealer to pay me cash for taking my old car and replacing it with a brand new one.
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gas_balloon
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Re: swapping honda odyssey to a new one

Post by gas_balloon »

vanpan wrote: Mon Apr 19, 2021 7:54 pm
helloeveryone wrote: Mon Apr 19, 2021 10:12 am
vanpan wrote: Mon Apr 19, 2021 8:20 am I currently own a 2019 honda odyssey EX with 12000 miles on it that i purchased 30 months ago. I am able to sell in on caravan for 29800.I am able to get a brand new 2020 honda odyssey EX for 29500 +TTL which is roughly 32500. The only difference between the 2019 and 2020 is that the 2020 has 10 speed honda transmission instead of the 9 speed . I got to pay roughly 2700 for this upgrade. Thinking of doing it. Your thoughts ?
Not certain either way BUT if you decide to do it try to take the carvana quote and have the dealer you are buying it from match the offer.

That way you save on the sales tax of the new one.
Can you explain how i will save on tax, if i sell the car to the dealer i am buying from ? I am just not aware here.
Getting the dealer to match may be tricky. Carvana is offering me more for my 2 1/2 year old honda with 12000 miles than what i will pay for a new Honda from the dealer. Essentially i will be asking the dealer to pay me cash for taking my old car and replacing it with a brand new one.
In most states, you pay the tax on the difference between new purchase price and trade-in price. So if you bought a car for 30k and traded in another car for 28k, you'd pay taxes on 2k (not the full 30k).
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vanpan
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Re: swapping honda odyssey to a new one

Post by vanpan »

Olemiss540 wrote: Mon Apr 19, 2021 8:41 am Just curious what made you decide to actually shop/quote these things if you already had a 12k mile odyssey in the driveway?

Shopping due to boredom? Some issue with the current ride that has you back in the market?

No, I prefer to keep the most money I can in the market, not adding a new gear to my minivan but it's a pretty good deal and wouldnt hurt to get another year warranty and 12k less miles so coin flip.
My old Sonata died and i sold it on carvana. I just put the vin number of my honda odyysey to look at the price and they were offering me a pretty good price (close to what i bought 30 months ago). I just looked at some dealer prices for unsold 2020's and could find them for cheaper than what i could sell. I am basically get 2 1/2 years worth of warranty. My car is 2/12 years old and for this car, my warranty will only start now.
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Watty
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Re: swapping honda odyssey to a new one

Post by Watty »

vanpan wrote: Mon Apr 19, 2021 8:20 am Thinking of doing it. Your thoughts ?
I am in the middle of a similar deal because the used car market is so crazy.

I have an offer from CarMax to buy a three year old Corolla with 25k miles for $400 more than I paid for it three years ago, excluding tax and licence. :shock:

I worked out a deal through email for a new higher end Subaru Forester that I will pick up tomorrow. I was able to get a reasonable price for it including 0% financing so overall it a good but not spectacular deal (I could pay cash).

Some car models are in short supply because of the computer chip shortage so I am lucky that the car I want still has an OK supply.

I will not know if the dealer will match the CarMax offer until I take the Corolla in there tomorrow when I pick up the Forester. That would save me some taxes but even if they do not I will still be doing pretty good especially since I want to upgrade my car.

As others have said your taxes will likely determine if it makes sense for you or not.
njdealguy
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Re: swapping honda odyssey to a new one

Post by njdealguy »

vanpan wrote: Mon Apr 19, 2021 7:54 pm
helloeveryone wrote: Mon Apr 19, 2021 10:12 am
vanpan wrote: Mon Apr 19, 2021 8:20 am I currently own a 2019 honda odyssey EX with 12000 miles on it that i purchased 30 months ago. I am able to sell in on caravan for 29800.I am able to get a brand new 2020 honda odyssey EX for 29500 +TTL which is roughly 32500. The only difference between the 2019 and 2020 is that the 2020 has 10 speed honda transmission instead of the 9 speed . I got to pay roughly 2700 for this upgrade. Thinking of doing it. Your thoughts ?
Not certain either way BUT if you decide to do it try to take the carvana quote and have the dealer you are buying it from match the offer.

That way you save on the sales tax of the new one.
Can you explain how i will save on tax, if i sell the car to the dealer i am buying from ? I am just not aware here.
Getting the dealer to match may be tricky. Carvana is offering me more for my 2 1/2 year old honda with 12000 miles than what i will pay for a new Honda from the dealer. Essentially i will be asking the dealer to pay me cash for taking my old car and replacing it with a brand new one.
When trading in a car at a dealer in many states, you only pay sales tax on the difference in values, like if you get a trade in value of 25k and are buying a new 30k car, you would pay sales tax on 5k only. Therefore even if the dealer offers you 1k or even 2k less than what Carvana is offering you I think you'd still come out ahead.
czr
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Re: swapping honda odyssey to a new one

Post by czr »

Many dealers cannot compete with Carvana or Carmax when matching trade in prices so you may have to do two separate deals and you have to factor in that as transaction costs. The Carvana quote beat the dealer by more than the tax savings from working with one party so went sold it to Carvana first then bought the vehicle from the dealer albeit more complicated and time consuming but worth it for me.
squirm
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Re: swapping honda odyssey to a new one

Post by squirm »

If you're worried about the transmission then why don't you just buy the Honda extended warranty for you current van? Shop around at different dealers for the best rate. Otherwise it sounds like a lot of effort for little gain.
z91
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Re: swapping honda odyssey to a new one

Post by z91 »

I'd do it. New tranny and new tires.
Goal33
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Re: swapping honda odyssey to a new one

Post by Goal33 »

Reset warranty, wear and tear on tires and breaks. New car smell. I’d probably do it even though it’s annoying.
helloeveryone
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Re: swapping honda odyssey to a new one

Post by helloeveryone »

czr wrote: Mon Apr 19, 2021 10:24 pm Many dealers cannot compete with Carvana or Carmax when matching trade in prices so you may have to do two separate deals and you have to factor in that as transaction costs. The Carvana quote beat the dealer by more than the tax savings from working with one party so went sold it to Carvana first then bought the vehicle from the dealer albeit more complicated and time consuming but worth it for me.
Do you know why that is? I've wondered. For me it did work - I got a really poor quote when trying to trade in, but I had gotten a carmax quote - pulled it out - said if you match this we have a deal - thankfully it worked.

Does it have to do with carvana and carmax having a much wider market for selling cars than a local dealer? or maybe just less overhead than car dealers?
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lthenderson
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Re: swapping honda odyssey to a new one

Post by lthenderson »

gas_balloon wrote: Mon Apr 19, 2021 7:56 pm
vanpan wrote: Mon Apr 19, 2021 7:54 pm
helloeveryone wrote: Mon Apr 19, 2021 10:12 am
vanpan wrote: Mon Apr 19, 2021 8:20 am I currently own a 2019 honda odyssey EX with 12000 miles on it that i purchased 30 months ago. I am able to sell in on caravan for 29800.I am able to get a brand new 2020 honda odyssey EX for 29500 +TTL which is roughly 32500. The only difference between the 2019 and 2020 is that the 2020 has 10 speed honda transmission instead of the 9 speed . I got to pay roughly 2700 for this upgrade. Thinking of doing it. Your thoughts ?
Not certain either way BUT if you decide to do it try to take the carvana quote and have the dealer you are buying it from match the offer.

That way you save on the sales tax of the new one.
Can you explain how i will save on tax, if i sell the car to the dealer i am buying from ? I am just not aware here.
Getting the dealer to match may be tricky. Carvana is offering me more for my 2 1/2 year old honda with 12000 miles than what i will pay for a new Honda from the dealer. Essentially i will be asking the dealer to pay me cash for taking my old car and replacing it with a brand new one.
In most states, you pay the tax on the difference between new purchase price and trade-in price. So if you bought a car for 30k and traded in another car for 28k, you'd pay taxes on 2k (not the full 30k).
If you live in California, Hawaii, Kentucky, Maryland, Michigan, Montana and Virginia, you have to pay tax on the price of the new car regardless of the trade in value.
mcamp18
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Re: swapping honda odyssey to a new one

Post by mcamp18 »

I had a Honda Odyssey that we drove over 260k miles. I am a huge believer in reading and following Consumer's Reports prior to purchasing a vehicle. I was shocked last year looking at how poor the ratings were for current Odyssey's. I would go for a Toyota Sienna.
smatter
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Re: swapping honda odyssey to a new one

Post by smatter »

If you live in California, Hawaii, Kentucky, Maryland, Michigan, Montana and Virginia, you have to pay tax on the price of the new car regardless of the trade in value.
This is not correct for Maryland. I just bought a new car and the value of the trade was definitely subtracted from the taxable amount.

On the larger topic - why not take it to your dealer. If the dealer offers you $1000 less but you save $2000 in taxes, still come out on top.
smatter
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Re: swapping honda odyssey to a new one

Post by smatter »

z91 wrote: Tue Apr 20, 2021 1:24 am I'd do it. New tranny and new tires.
The 10 speed is also in the new MDX and is generally seen as a huge improvement over the 9-speed for drivability and responsiveness due to the much lower 1st gear ratio.
clutchied
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Re: swapping honda odyssey to a new one

Post by clutchied »

Lexx wrote: Mon Apr 19, 2021 12:13 pm My rule on Hondas is to drive em till they don't drive anymore. We still have our 2014 Odyssey and it's never had even so much as a hiccup. We plan on keeping it for another few years. The 1 extra gear on the transmission means very little. It's a big vehicle. You're never going to get back the money in fuel economy. I'd spend the extra money on maintenance (the little that it requires) and heck, go buy a couple hundred bucks of dogecoin while you're at it!
2012 here.

We actually disabled the cylinder dropping tech b/c it was causing havoc and now the van drives like a dream.

75k miles and counting....
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