[2024] “Step Wagon” Discounts: What are the Market Prices and Acceptable Limits? Summary of Closing Dates and Negotiation Techniques

Honda will release a revised version of its Step WGN minivan in April 2024. With the release coming up, we ‘ve put together a detailed summary of discounts on the base price and key points to consider when purchasing. We hope this information will be helpful when making your purchase.

First of all, how much of a discount is the Stepwagon available?

I looked up the current discount market price as of April 2024. I found that there is a lot of variation, and that the discounts are greater than I expected.

The maximum discount was 400,000 yen. That’s amazing! Honda dealers really do that! Although this is just an average target, I would like to aim for a total discount of 300,000 yen, with 200,000 yen on the vehicle price and 100,000 yen on options .

New Honda Stepwagon 2023 price

Honda has announced that it will revise the nationwide manufacturer’s suggested retail price of the Stepwgn in response to rising raw material prices and logistics costs worldwide, and will begin selling the vehicle at the new price from April 21, 2023.

Discounts on the Step Wagon, tips for successfully purchasing at a low price

• Consider purchasing at the end of the fiscal year, or hold negotiations around the end of each month.
• Consider rival models, compare over three models, and even discuss them during negotiations.
• If you have a trade-in car, have it appraised by the dealer first, then have it appraised by at least three other companies, and sell it to the one that offers you the highest price.
• Check whether discounts are available for both the main unit and the options.
• If you purchase through installment or leasing, you may be able to save money on the total price by considering options other than through a dealer.
• At the final stage, make an immediate decision at the desired price.
• Get quotes from different dealerships .

1. Consider purchasing and negotiate during the closing period

Honda’s financial statements are made monthly, at the end of September in the first half of the fiscal year, and at the end of March at the end of the fiscal year. The quarterly closing periods of June, September, December, and March may be the best times to visit. Salespeople are also keen to increase sales at these closing times, so they may be willing to negotiate prices. They will likely work especially hard at the end of March at the end of the fiscal year!

2. Consider rival models and compare them with three or so models.

Bringing in a competitor will be a bargaining chip in business negotiations. As a salesperson myself, I understand that bringing in a competitor will force you into a price war. It will also convey to the other party your intention to purchase in the near future, which will give you leverage to lower the price.

Step WGN competitors

Competing models within the Honda family are not acceptable. For example, if you are torn between the Step Wagon and the Odyssey, be sure to get quotes and consider products in the same class from other manufacturers.

Recommended models of Step WGN and competitors

The following models are just right for the competition in terms of body size and lineup. It may take time, but please try to get quotes from other companies at the dealership. However, what often happens is that when you get quotes from other companies, you find that the other company’s products are discounted or better, so you decide not to buy them. It is also important to know about other companies.

• Toyota Noah
• Toyota Voxy
• Nissan Serena

3. Trade-in vehicle appraisal

If you currently have a car, think about how to sell it for as much as possible when you sell it. When you get a quote for your Step WGN, be sure to also ask for a trade-in appraisal. Using the appraisal amount given by the dealer as a base, get quotes from at least four other companies and consider selling it. This is essential.

Reasons and experiences

I have had both good and bad appraisals from dealerships, but of course, it’s necessary to compare with other companies. For example, when I sold a Prius that I had been driving for two and a half years, the appraisal results showed a difference of 640,000 yen.

• Dealer 1.66 million yen if you can pick it up next week
• Company A 2.23 million yen Condition: If you can pick it up next week
• Company B 2.3 million yen Condition: If you can pick it up next week
• Company C: 2.3 million yen.　OK until the next car is delivered.

4. Check whether discounts are available for the main unit and options

For example, the discount amount is often larger if you add the main unit and options than if you only add the main unit and almost no options. The reason is that you can receive a discount on both the main unit and the options. That’s why the above prices list the discount amounts for both the “main unit price” and the “option price.” However, as you add more options, the total cost will naturally increase, so be sure to select and add the equipment you want before getting a discount. Adding everything will naturally increase the price.

5. If you purchase through installment or leasing, you may be able to save money by considering options other than through a dealer.

For example, let’s say the Stepwagon e:HEV FF costs 4 million yen including all expenses. You put 1 million yen down and take out a loan for the remaining 3 million yen.

• Borrowing amount: 3 million yen
• No down payment
• Bonus payment 0

If you calculate the difference in interest rates under the above conditions, you’ll see a huge difference in the total repayment amount. If you borrow 3 million yen for 10 years at 5.5%, you’ll end up paying an extra 900,000 yen, but if you borrow 3 million yen for 10 years at 2.5%, you’ll only pay an extra 400,000 yen, a difference of 500,000 yen. Therefore, one option is to look for an auto loan from a bank or other lender that will allow you to take out a loan with the lowest possible interest rate.

If the interest rate (annual) is 5.5%

If the interest rate (annual) is 2.5%

Points to note

Bank car loans are cheap, with strictest screening, followed by dealer-affiliated loans, but with higher interest rates. Other financial institutions tend to offer more lenient screening, with higher interest rates.

6. At the final stage, make an immediate decision at the desired price.

If they don’t offer the discount you want, try to force them by honestly telling them what you want. Add that you’ll sign the contract today if you agree, and if they still can’t offer the discount you want, you’ll just have to accept that this is the best they can do.

7. Get quotes from different Honda dealerships

The store I’m familiar with is Honda Cars Tokyo, but there are several other companies. For example, if you get a quote from the Honda Cars Tokyo Chuo store, the price may change. This happens because the companies are completely different. If you get a quote from the same Honda Cars Tokyo store, you’ll immediately find out that the other store is quoting the same price because of information sharing. So, try again at another Honda dealership with which you have no capital ties.

example

• Honda Cars Tokyo
• Honda Cars Tokyo Chuo
• Honda Cars Tokyo North
• Honda Cars Tokyo West

Those who want the desired amount by all means

If you find it difficult to bargain, you might want to look for a used car, which is more affordable than a new car.