Last post on Dec 03, 2013 at 6:56 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Toyota Camry, Sedan
#7411 of 10203 Re: I am wondering if I paid too much for 09 camry se [kiawah]
Jun 03, 2009 (5:35 am)
i agree but I was only in NY for 1 day and the deal was ending and there is limited inventory on the 09 cars. I was only going to buy on the zero percent financing. I would have bought a used camry on cash or zero percent. that's how we bought our 2006 Sienna (0.0 APR).
I called fitzmall yesterday. Their invoice price includes the $1500 rebate. You can choose the rebate or the 0.0% A.P.R . thru toyota motor credit. I think the zero percent was a better deal for us. I believe we could have gotten a better deal if we were willing to stay there a little long and haggle some more but I have come to the conclusion that we find deals when you are not looking for them. I don't remember zero percent 0% APR on camrys. I could be wrong. If I was paying cash I would have bought a certified camry.
How much did I overpay?
#7412 of 10203 Re: Camry LE 4 cylinder in Northern California [brygo]
Jun 03, 2009 (5:36 am)
which quote are you referring to? which ad in Fridays's paper. could you send me a link?
#7413 of 10203 Re: I am wondering if I paid too much for 09 camry se [drums]
Jun 03, 2009 (6:34 am)
How much did I overpay?
Not an easy question to answer, there are too many personal decisions/factors, and it is made up of both objective and subjective factors.
- let's just take the 0% financing. That 'cost' you $1,500 bucks up front, to purchase the ability to have a 0% loan. To know whether that is a good deal or not, you need to know how much you borrowed, how long the payments are for, and what % you could have financed it for at your personal credit union or other banks. Run those numbers thru a financial calculator, figure out what the payments would have been had you financed it through a personal bank at the lower amount borrowed, compare to the payments you have, and then take the NPV (net present value) of that difference in payment streams. That will tell you whether you should have taken the 1,500 rebate or the 0% financing. Generally speaking, putting more down would favor the rebate alternative, small difference in % rate (good credit rating) would favor the rebate alternative, paying the loan off ahead of time would favor the rebate, etc.
- let's take the 2010 model year versus the 2009 model year. That's potentially worth a grand difference on tradein, assuming you turn your vehicles over in the 3-5 year timeframe. If you keep your vehicles longer it's worth less, as 10 year old vehicles are valued more on their condition as opposed to their age. For comparitive purposes look at tradein values for a given car with X miles, and then change the year of the vehicle one year. I just did a 2006 Camry SE w/40K miles against a 2007 SE w/40K miles and for my zipcode the clean tradein difference was $1,400. However to be technically accurate, you should discount that amount by the time value of money since those are future dollars, so it would be worth slightly less than that in today's dollars.
- New model features. The 2010 engine is more powerful, it's a 6 speed transmission vs. 5 speed, and VSC is now standard. I don't know whether those are important to you (or your tradein buyer), or not. Some folks will say to never buy a first year model of any brand. This really isn't a first year model, but it is a new engine so you may be avoiding problems by buying the 2009. On the other hand, when I bought mine I wanted VSC so paid an extra 500+ or so for it to get that option, so to me....the VSC alone is worth more. To me, I'm perfectly happy with the power and transmission of the 2007-2009, so it would be nice to have but probably would only be 'worth' to me say 500. So to me in total, I'd value the 2010 drive train package at perhaps $1K over the 2009. Whether any of those are important to YOU (that you'd be willing to pay for if given the choice), only you can answer. Could be you don't care at all and it's worth zero to you, or could be it's worth 2k to you.
- Your urgency to buy. Your time and effort in finding and negotiating a deal is worth something to you. I'm sure if you researched for ever and checked every dealership you could save some money over your deal, but at what additional cost and aggravation to you. Nobody but you can place a value on your time and aggrevation levels.
So yes, you could have done better, but only you have enough info to put a $$ amount on it. But quite frankly, it really doesn't matter any more. Once you drove it over the dealership curb you own it, you paid what you paid. Don't worry about things that you have no control over anymore. Enjoy your vehicle!
#7414 of 10203 Re: I am wondering if I paid too much for 09 camry se [kiawah]
Jun 03, 2009 (9:46 am)
thanks for your detailed message. I really appreciate. For me the zero percent financing for 60 months was big. My monthly payment is $364 ( I paid up front for taxes - 6 percent in PA) and tags were $135. I paid the dealership $45 for documentation. In addition they wanted $374 for preping car and adminstrative costs. Is this normal? Can dealerships charge this amount?
again the deal for me 0.0 APR for 60 months was huge, especially on a camry which is known for reliability. Limited colors and inventory left on the '09 models. I am skeptical of a new models.......it may go either way. If anyone does the consumer reports research they will see that certain camry and corolla model years are better than others.
I didn't want to lease this car or any other car b/c I think leasing is like throwing away money and is worse than renting a house. There are so many restrictions. Its good for people who can get a business dedication and for driving a luxury car, but I want to hold on to the car and pass it on to the kids who will hopefully be driving in the next 5 years. There are lots of 0.0 APR deals out there for car up to 72 months. But I don't want a car that is not worth anything by the time I am finisned paying for it. The VW passat for on 0.0% for 66 months and chyrslers and GMs are for 72 months 0.0% If the honda or nissans were on 0.0 APR I would have strongly considered those. Too bad Honda does not do this type of financing. When ever you are paying more than 0.0 APR you are paying alot more than the sale price.........
that's for us 0.0% is a huge incentive. I guess paying $20,000 and saving $1500 upfront was not big enough. I guess I could use that money elsewhere while paying monthly car payments. $365 means reasonable considering that you could lease a camry and have to pay at least $199 plus a few grand down plus TTL costs and would have to return the car.
I appreciate anymore feedback I can get......
#7415 of 10203 Re: I am wondering if I paid too much for 09 camry se [drums]
Jun 03, 2009 (10:11 am)
I've seen dealerships charge from zero to 700 bucks, for admin costs. I believe dealerships in PA those charges might be legally capped at something like 100 bucks, but not sure. To get to an apples to apples comparison, I just ask each dealership to detail out all of their fees so I can look at the bottom line. Some dealerships will tell you they have to charge everyone a certain admin fee (and pre-print it on their orders), that's fine, just lower the sales price of the vehicle. I don't care how they want to 'account' for revenue, it's the bottom line total that matters to me. They can move the money around anyway they want to.
I believe that's a great strategy to pass the vehicle on to kids, that is exactly why we bought it. We drove it for a while, then trained my daughter on it so that she is driving it now, and now will be training second daughter on it. Safe vehicle, easily visible (we also bought silver), doesn't show the dirt if they don't wash it, stable (isn't top heavy like an SUV), gets good mileage, reliable and easy to repair if necessary, reasonable insurance rates, didn't pay a ton of money for it, etc, etc, etc.
I'm sure a number of vehicles would also meet those criteria, but the Camry worked out great for us, and I would buy another in a heartbeat.
#7416 of 10203 2010 XLE V6 price
Jun 03, 2009 (11:42 am)
Well, I received a price for 27,750 + tt's for the car. Good deal?
#7417 of 10203 Re: 2010 XLE V6 price [pf2001]
Jun 03, 2009 (11:56 am)
What options are on the car, what is the MSRP?
#7418 of 10203 Re: 2010 XLE V6 price [kiawah]
Jun 03, 2009 (1:06 pm)
Heated seats and smart key system. I can not recall the msrp. I will find out
#7419 of 10203 Re: 2010 XLE V6 price [kiawah]
Jun 03, 2009 (4:20 pm)
you can find it on on the sticker on the car. It should be with all your other papers or in glove compartment....
#7420 of 10203 Re: 2010 XLE V6 price [drums]
Jun 03, 2009 (4:44 pm)
They have to order it. If I do not hear from the other dealers. I will put a deposit down.