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[quote=Anonymous]So you want to extend the loan by 3.5 years to “save” less than $1100 over the next 18 months. The depreciation on your vehicle is a sunk cost.

It’s a Honda. Replace the DVD player if you feel it necessary. Drive it another 3-5 years. There’s a reason Hondas and Toyotas have strong resale value.

If you’re still seriously considering, follow up with Carmax, Driveway and ALGO Nation (don’t waste time with Vroom or Carvana) for an offer. $28000 seems like a really lowball number.

Dealers have to play a shell game because of the craziness in the used car market. Their profits are at record highs with virtually no new car inventories in the lot for them to finance. They can’t have a new 2022 Odyssey sitting on the lot for only $6000 more than a pre-owned 2019 with 30,000 miles on the odometer. Add to the mix that the 2023 models will start showing up in a few weeks (they’re already on the Honda website), which means that you effectively would be buying last year’s model. Part of the reason Honda raised prices $750 earlier this year after reducing output due to parts shortages (Honda announced more production cutbacks this week).

You have nothing to lose by asking them to write up and email their best out the door deal with trade-in. You have all the leverage. Don’t be surprised when you see a “market adjustment” added to MSRP as well as $1200-2500 in dealer add-ons for floor mats, nitrogen tire fill, wheel locks, paint and leather protection, etc.

You should also ask about allocations. Dealers get what they get from Honda and most frequently have to trade with other dealers to get that EX-L in Obsidian Blue Pearl that everyone wants.

Lastly what’s your current rate on the car note? You can explore refinancing your existing loan. We did that last fall. You should be able to do better than 3.9 from a credit union. Possibly 2.75-2.9 or even better. 
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