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Eric, I just watched your video about the Honda Odyssey and I loved how you pointed out all the little creature comforts in that vehicle. The bag holder and cup holders etc… They are often overlooked in car reviews. 🙂
Anyhow, you mentioned you were going to pay out the finance early, DON’T!!!!
Finance companies want you to pay the extra interest etc… and they rate you on your ability to do so. If you pay it out early, they will actually lower your credit rating because you are not showing your ability to pay them as prescribed in the contract. So in order to get the highest credit rating possible from this loan, you need to pay on time every month for the full term of the contract.
I would suggest that you setup a bank account for the loan repayment, pay whatever you want into it, whenever you want and if you happen to have enough in the account to pay out the loan before the contract is up, leave it there and earn interest on it and just keep paying the loan every month like it says in the contract.
That will go a long way towards helping you reach your goal and I sincerely want you to reach that goal and I wish you both all the best in achieving that. So don’t screw it up by paying out the loan early, even though I know you truly want to do that.
Anyway, it’s food for thought and I thought you should know that before you go making a big mistake. 🙂
On another note, why is it that the women end up driving the ‘flash’ car, and we drive old clunkers, how does that work?? … 😆
Cheers
From ‘Downunder’
Andy M.Hey Eric, Congrats on the new van. I’ve been carefully contemplating replacing our 3rd gen odyssey with the 4th and I haven’t yet had a chance to get out and have a look at them. Thanks to your comprehensive summary of one, I’m thinking I’ll just hang on to the one we have! Not that I don’t like it, however, other than the looks, which I do like (on the new one), the creature comforts are pretty much the same and nothing’s changed! This is our 2nd Odyssey and like your wife, mine often comments how much she likes it. This is our second Odyssey, the first one was a 2001. Great van except for the transmission problem. The dealer was actually the one who ruined it, they did a power transmission flush at 65k and about 25k later the transmission went out. They actually admitted it, replaced it under extended warranty and subsequently it failed 2 more times, all about 30k miles in between. Honda paid for the 2nd tranny, but told me that they would not warranty it again. After it went out the 3rd time I decided to try Toyota and got a Sienna. That lasted one year and both my wife and I were disappointed by the Sienna’s road handling and lack of options inside. We went back to the Odyssey, a 2006 touring this time and we’ve had it ever since. The only disappointments with the 06 were the PAX tires. I finally was fed up paying for those tires and got rid of the wheels 3 years ago. I have a set of wheels from an Acura MDX with 18″ tires and it looks better than the PAX wheels IMO. Other than that, I’ve replaced the steering pump and that’s it. It’s been a great van. Hope the new ones hold up as well, I’ll wait another year maybe until ours is well over 200k miles.
[quote=”trumpy81″ post=145712]Eric, I just watched your video about the Honda Odyssey and I loved how you pointed out all the little creature comforts in that vehicle. The bag holder and cup holders etc… They are often overlooked in car reviews. 🙂
Anyhow, you mentioned you were going to pay out the finance early, DON’T!!!!
Finance companies want you to pay the extra interest etc… and they rate you on your ability to do so. If you pay it out early, they will actually lower your credit rating because you are not showing your ability to pay them as prescribed in the contract. So in order to get the highest credit rating possible from this loan, you need to pay on time every month for the full term of the contract.
I would suggest that you setup a bank account for the loan repayment, pay whatever you want into it, whenever you want and if you happen to have enough in the account to pay out the loan before the contract is up, leave it there and earn interest on it and just keep paying the loan every month like it says in the contract.
That will go a long way towards helping you reach your goal and I sincerely want you to reach that goal and I wish you both all the best in achieving that. So don’t screw it up by paying out the loan early, even though I know you truly want to do that.
Anyway, it’s food for thought and I thought you should know that before you go making a big mistake. 🙂
On another note, why is it that the women end up driving the ‘flash’ car, and we drive old clunkers, how does that work?? … 😆
Cheers
From ‘Downunder’
Andy M.[/quote]Thanks for the advice, but I’m still paying it off early. I’m going to wait until after I get the house however. Hopefully that will happen about this time next year. Once I get the house, I don’t see how it really matters. I’m not one to finance large purchases unless I have to. BTW, the interest rate was 9.99%. I’m paying it off early. 🙂
Thanks again for the advice.
[quote=”MtnGoat” post=145718]Hey Eric, Congrats on the new van. I’ve been carefully contemplating replacing our 3rd gen odyssey with the 4th and I haven’t yet had a chance to get out and have a look at them. Thanks to your comprehensive summary of one, I’m thinking I’ll just hang on to the one we have! Not that I don’t like it, however, other than the looks, which I do like (on the new one), the creature comforts are pretty much the same and nothing’s changed! This is our 2nd Odyssey and like your wife, mine often comments how much she likes it. This is our second Odyssey, the first one was a 2001. Great van except for the transmission problem. The dealer was actually the one who ruined it, they did a power transmission flush at 65k and about 25k later the transmission went out. They actually admitted it, replaced it under extended warranty and subsequently it failed 2 more times, all about 30k miles in between. Honda paid for the 2nd tranny, but told me that they would not warranty it again. After it went out the 3rd time I decided to try Toyota and got a Sienna. That lasted one year and both my wife and I were disappointed by the Sienna’s road handling and lack of options inside. We went back to the Odyssey, a 2006 touring this time and we’ve had it ever since. The only disappointments with the 06 were the PAX tires. I finally was fed up paying for those tires and got rid of the wheels 3 years ago. I have a set of wheels from an Acura MDX with 18″ tires and it looks better than the PAX wheels IMO. Other than that, I’ve replaced the steering pump and that’s it. It’s been a great van. Hope the new ones hold up as well, I’ll wait another year maybe until ours is well over 200k miles.[/quote]
The dealer didn’t ruin the transmission, they were bad out of the box. Many flaws in the design, and it’s not uncommon for them to fail multiple times as a result. They replaced it under extended warranty because Honda extended it to 180K. Likely to avoid a class action suit.
My friend bought and Odyssey with PAX tires. I warned him about it, and he’s been crying every time he’s had to put new ones on, which is way more than regular tires as you know. Putting MDX wheels on doesn’t completely solve the issue. PAX wheels and tires are much heavier than the standard tires and as a result it has a different suspension. If you change the weight of the wheels, it also effects how the suspension operates. It’s much better to get a van that doesn’t have PAX.
Also correct that there isn’t much difference between your generation and this one. Just styling really.
The wife is happy. That’s all I really care about. Well, it is a nice van too. I suppose that counts for something as well. It will also be nice for future videos.
Thanks for your input.
The Odyssey is easily the best minivan out there. I don’t think anything else comes close to it in any measure. For such a big “mini”van they’ll actually get up and go better than one would expect a 4300lb+ soccer shuttle to go.
[quote=”EricTheCarGuy” post=145723][quote=”MtnGoat” post=145718]Hey Eric, Congrats on the new van. I’ve been carefully contemplating replacing our 3rd gen odyssey with the 4th and I haven’t yet had a chance to get out and have a look at them. Thanks to your comprehensive summary of one, I’m thinking I’ll just hang on to the one we have! Not that I don’t like it, however, other than the looks, which I do like (on the new one), the creature comforts are pretty much the same and nothing’s changed! This is our 2nd Odyssey and like your wife, mine often comments how much she likes it. This is our second Odyssey, the first one was a 2001. Great van except for the transmission problem. The dealer was actually the one who ruined it, they did a power transmission flush at 65k and about 25k later the transmission went out. They actually admitted it, replaced it under extended warranty and subsequently it failed 2 more times, all about 30k miles in between. Honda paid for the 2nd tranny, but told me that they would not warranty it again. After it went out the 3rd time I decided to try Toyota and got a Sienna. That lasted one year and both my wife and I were disappointed by the Sienna’s road handling and lack of options inside. We went back to the Odyssey, a 2006 touring this time and we’ve had it ever since. The only disappointments with the 06 were the PAX tires. I finally was fed up paying for those tires and got rid of the wheels 3 years ago. I have a set of wheels from an Acura MDX with 18″ tires and it looks better than the PAX wheels IMO. Other than that, I’ve replaced the steering pump and that’s it. It’s been a great van. Hope the new ones hold up as well, I’ll wait another year maybe until ours is well over 200k miles.[/quote]
The dealer didn’t ruin the transmission, they were bad out of the box. Many flaws in the design, and it’s not uncommon for them to fail multiple times as a result. They replaced it under extended warranty because Honda extended it to 180K. Likely to avoid a class action suit.
My friend bought and Odyssey with PAX tires. I warned him about it, and he’s been crying every time he’s had to put new ones on, which is way more than regular tires as you know. Putting MDX wheels on doesn’t completely solve the issue. PAX wheels and tires are much heavier than the standard tires and as a result it has a different suspension. If you change the weight of the wheels, it also effects how the suspension operates. It’s much better to get a van that doesn’t have PAX.
Also correct that there isn’t much difference between your generation and this one. Just styling really.
The wife is happy. That’s all I really care about. Well, it is a nice van too. I suppose that counts for something as well. It will also be nice for future videos.
Thanks for your input.[/quote]
Well your comment about how a happy wife means a happy life is so true… ( i think that’s what you said! )
I remember discussing at length the weight difference between wheels from pax to the MDX sport wheels. I can’t remember the details, but it was pretty close in the end since we went with the 18″ wheels, and added a spare. Because the wheel was bigger, the tires had to be a bit lower profile with a stiffer sidewall to keep the GVWR as close as possible to stock. We rarely load the van down with either gear or people. I would say the van handles pretty close to the way it did with the PAX wheels at highway speeds. Definitely notice potholes and uneven pavement more on the surface streets though.
The master mechanic or whoever the guy is that they call in to have a look at the major warranty or extended warranty claims is the one that told me it was the fault of the gentleman who performed the service on our transmission. He said he shouldn’t have used the power flush machine, but should have instead done a drain and refill per a TSB for those transmissions. I was actually quite pleased with the whole process, when the tranny failed, the first call they made to me was that the transmission was gone, they were going to replace it under warranty, as well as reimburse me for the tow to the dealer.
In fact, Honda has been consistently good to me with all 3 that I’ve owned. Just 6 months ago, I took my 06 civic hybrid in for service and mentioned that it seemed that the IMA system spent more time charging the batteries than assisting in driving the wheels. I knew they had extended the warranty on the battery pack but I was right at the mileage limit. They tried a software update and told me if it didn’t seem to get better to bring it back. Two months ago I had it in again for an oil change and told them that the software update really didn’t seem to do much. They called me later that afternoon and said they were going to replace my battery pack under the extended warranty even though it was technically over the mileage limit. (because the problem was first reported within the warranty period).
Just another funny note, right after I sang the praises of our Odyssey tonight, I pulled it into the garage and noticed a “wet” spot on the driveway where it was parked. I walked over and found it to be fresh and upon further inspection, it’s either motor oil or the power steering fluid again…. go figure! Guess I’ll be underneath it this weekend. 😉
Thanks again for this website, it’s great!
[quote=”MtnGoat” post=145773][quote=”EricTheCarGuy” post=145723][quote=”MtnGoat” post=145718]Hey Eric, Congrats on the new van. I’ve been carefully contemplating replacing our 3rd gen odyssey with the 4th and I haven’t yet had a chance to get out and have a look at them. Thanks to your comprehensive summary of one, I’m thinking I’ll just hang on to the one we have! Not that I don’t like it, however, other than the looks, which I do like (on the new one), the creature comforts are pretty much the same and nothing’s changed! This is our 2nd Odyssey and like your wife, mine often comments how much she likes it. This is our second Odyssey, the first one was a 2001. Great van except for the transmission problem. The dealer was actually the one who ruined it, they did a power transmission flush at 65k and about 25k later the transmission went out. They actually admitted it, replaced it under extended warranty and subsequently it failed 2 more times, all about 30k miles in between. Honda paid for the 2nd tranny, but told me that they would not warranty it again. After it went out the 3rd time I decided to try Toyota and got a Sienna. That lasted one year and both my wife and I were disappointed by the Sienna’s road handling and lack of options inside. We went back to the Odyssey, a 2006 touring this time and we’ve had it ever since. The only disappointments with the 06 were the PAX tires. I finally was fed up paying for those tires and got rid of the wheels 3 years ago. I have a set of wheels from an Acura MDX with 18″ tires and it looks better than the PAX wheels IMO. Other than that, I’ve replaced the steering pump and that’s it. It’s been a great van. Hope the new ones hold up as well, I’ll wait another year maybe until ours is well over 200k miles.[/quote]
The dealer didn’t ruin the transmission, they were bad out of the box. Many flaws in the design, and it’s not uncommon for them to fail multiple times as a result. They replaced it under extended warranty because Honda extended it to 180K. Likely to avoid a class action suit.
My friend bought and Odyssey with PAX tires. I warned him about it, and he’s been crying every time he’s had to put new ones on, which is way more than regular tires as you know. Putting MDX wheels on doesn’t completely solve the issue. PAX wheels and tires are much heavier than the standard tires and as a result it has a different suspension. If you change the weight of the wheels, it also effects how the suspension operates. It’s much better to get a van that doesn’t have PAX.
Also correct that there isn’t much difference between your generation and this one. Just styling really.
The wife is happy. That’s all I really care about. Well, it is a nice van too. I suppose that counts for something as well. It will also be nice for future videos.
Thanks for your input.[/quote]
Well your comment about how a happy wife means a happy life is so true… ( i think that’s what you said! )
I remember discussing at length the weight difference between wheels from pax to the MDX sport wheels. I can’t remember the details, but it was pretty close in the end since we went with the 18″ wheels, and added a spare. Because the wheel was bigger, the tires had to be a bit lower profile with a stiffer sidewall to keep the GVWR as close as possible to stock. We rarely load the van down with either gear or people. I would say the van handles pretty close to the way it did with the PAX wheels at highway speeds. Definitely notice potholes and uneven pavement more on the surface streets though.
The master mechanic or whoever the guy is that they call in to have a look at the major warranty or extended warranty claims is the one that told me it was the fault of the gentleman who performed the service on our transmission. He said he shouldn’t have used the power flush machine, but should have instead done a drain and refill per a TSB for those transmissions. I was actually quite pleased with the whole process, when the tranny failed, the first call they made to me was that the transmission was gone, they were going to replace it under warranty, as well as reimburse me for the tow to the dealer.
In fact, Honda has been consistently good to me with all 3 that I’ve owned. Just 6 months ago, I took my 06 civic hybrid in for service and mentioned that it seemed that the IMA system spent more time charging the batteries than assisting in driving the wheels. I knew they had extended the warranty on the battery pack but I was right at the mileage limit. They tried a software update and told me if it didn’t seem to get better to bring it back. Two months ago I had it in again for an oil change and told them that the software update really didn’t seem to do much. They called me later that afternoon and said they were going to replace my battery pack under the extended warranty even though it was technically over the mileage limit. (because the problem was first reported within the warranty period).
Just another funny note, right after I sang the praises of our Odyssey tonight, I pulled it into the garage and noticed a “wet” spot on the driveway where it was parked. I walked over and found it to be fresh and upon further inspection, it’s either motor oil or the power steering fluid again…. go figure! Guess I’ll be underneath it this weekend. 😉
Thanks again for this website, it’s great![/quote]
Thanks for your input on the tires. It might be something I suggest to my friend when he needs tires again.
As for the transmission, I never recommend flushing any transmission unless there’s a problem.
As for the failure(s) of the transmission. there are issues with some of the feed pipes leaking that causes a drop in line pressure to the 3rd gear clutch. Because of this, the clutch burns up. Also, the valve in the valve body for the TCC sticks causing that to slip and overheat as well. Not to mention that transmission never had a proper cooler, but rather a ‘warmer’ placed on top of the transmission. Automatics don’t do well when they overheat. Between insufficient cooling and those design flaws, that transmission never had a chance, flush or not.
Good luck with that leak.
As far as you know, have those transmission problems been corrected in this van and later models or do you expect the same issues down the road? I’m looking at replacing the 2002 Windstar in the next year or two (ONLY STILL RUNNING thanks to your videos mainly) and would like to avoid something with a known transmission defect.
Thanks for your time and congrats on all the new toys… I mean, tools!
[quote=”ScubaCat3″ post=145864]As far as you know, have those transmission problems been corrected in this van and later models or do you expect the same issues down the road? I’m looking at replacing the 2002 Windstar in the next year or two (ONLY STILL RUNNING thanks to your videos mainly) and would like to avoid something with a known transmission defect.
Thanks for your time and congrats on all the new toys… I mean, tools![/quote]
I believe they were cleared up by these years. That said, it’s a certified used Honda which means the warranty is extended to 100K so if I have an issue in the next 40K it would be covered anyway.
2012 Honda Odyssey is a very good choice. But, Eric bought the dealer certified pre-owned one which is significantly more expensive than a non-cpo 2012 Odyssey.
When a used car has less than 60k miles, Hondas are practically still new cars and very less likely to have problems. Even if it does, Eric has all the skills and tools and time to fix it right at his own shop. So, instead of paying more $$$$ for dealer certified pre-owned, why not just buy a regular used 2012 Honda Odyssey in good condition and save money?
[quote=”plokiu” post=150874]2012 Honda Odyssey is a very good choice. But, Eric bought the dealer certified pre-owned one which is significantly more expensive than a non-cpo 2012 Odyssey.
When a used car has less than 60k miles, Hondas are practically still new cars and very less likely to have problems. Even if it does, Eric has all the skills and tools and time to fix it right at his own shop. So, instead of paying more $$$$ for dealer certified pre-owned, why not just buy a regular used 2012 Honda Odyssey in good condition and save money?[/quote]
Because sometimes it’s nice to know I don’t have to worry about something mechanical for once. Sure, I can fix it, but when it breaks down will I have the time and the inclination to do it? Also, the resale value will be higher and if I’m out of town and it breaks down, I can just take it to the nearest Honda dealer and it will be taken care of.
Also, my wife drives this van, often with my kids in it. I like having the piece of mind knowing the van is not something I have to worry about. You reach a point in life where that kind of security is worth the extra money.
If it makes you feel better last week I bought another Vigor for $400, not certified and it needs a bit of work.
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