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Prices Paid: Buying & Leasing Experiences Toyota Corolla Prices Paid and Buying Experience
2129 messages, Last post on Oct 03, 2008 at 12:58 PM
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Replying to: eights38 (Jan 23, 2008 8:08 am) Here is the deal they are giving me. 2008 Corolla S with moonroof, VP extra Valu package#1, AB anitlock brakes, CK all weather guard package, color Speedway blue. Cost$18,581.00 minus 1000.00 rebate, minus $3800.00 for trade in total 14,746.36. I would be interested in your thoughts on this deal. It's a dealership in Springfield PA. Thank you for your kindness, Anita |
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Replying to: smokey15 (Jan 25, 2008 1:59 pm) My trade in is a 2003 ford focus hatchback, close to 62,000 miles in great condition. I am thinking about going back next wed. to the dealership, they called me today and told me to come in they are having a 1 day sale on this car that i am interested in. However, I called them back and spoke to the salesperson and told them I cannot make it in til wed. Jan. 30th. then I asked him when the new corollas are coming out and he told me in a couple of months. I like the car I test drove I am just new at this game and I want to get a fair price. I feel so blessed finding these forums with people like you who are willing to share your knowledge. Thank you Anita BTW, with all the info I have given you what price would you say is fair for me to ask for the car. And how do I break it down, ex. trade in money against the new car cost.
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Replying to: anita16 (Jan 26, 2008 3:45 pm) My strategy is always to go in with the out-the-door (OTD) price that I want to pay and then no one can confuse me with how much I am paying for the new car, how much they are giving me for my old car, how much tax and fees I am going to pay. I go in knowing exactly how much I want to be paying at the end. I don't talk monthly payments. I only talk OTD price. (1) Go to www.edmunds.com, select New Cars, select your car and options, and see what the INVOICE price is. (2) Subtract the rebate from price (if you want to take the financing incentive instead of the rebate, then don't subtract it). (3) only pay sales tax, state vehicle license tax/registration, and doc fees other than that (you can call a few dealerships and get an idea of what amount doc fees should be and what percent the sales tax is). (4) If you want to trade a car in, subtract that from the invoice price before you calculate the tax. Look at the want ads to get a price range that people are selling a car similar to yours for. I think having a trade just complicates the deal and the dealership never gives you as much as you can get on your own (and you can post your car for free on www.craigslist.com). The trade just makes it so that they can play with the numbers and confuse you about what you are really paying for the new car. They either raise the price of the new vehicle so they can make it look like you are getting more for your old trade or they give you less for the old vehicle and sell you the new car for less. I usually don't trade in, but I have found it beneficial twice; it really depends on whether you can get the OTD price you want with your trade included. (5) You can calculate what the out-the-door (OTD) price you should pay is by adding invoice - trade-in + tax + state vehicle registration + reasonable doc fee = total price (6) Start by sending email to the internet/fleet department(s) of a few places to see if they have what you want and what price they are wanting for it. Then reply and see if they will take your OTD price. Sometimes they won't, other times they will come back and counter offer, and usually one seems to come back and give me what I've asked for. If no one wants to deal at that price and you have your trade included, then you could try taking your trade out of the deal all together and see if you have better luck. I'm usually not picky about a 100 or 200 dollar differences because overall it doesn't cost that much compared to the cost of the car (I would rather go to the person that is easy for me to work with). I just try to get somewhere close to Edmunds invoice. (7) I've never had a dealer not honor their offer made via email or phone once I go down to pick up the car (but I suppose it could happen). After you've squared everything away with the salesman and you are ready to talk to the financing person, watch out for tricks that the financing people can play on you. They may try to add a warranty onto your contract without you noticing (or some other thing that you didn't know about). They may also try to make you feel guilty or bad about not purchasing the warranty. Just tell them to get on with it at the price you agreed with the salesman or you will walk out and not buy the car. This has happened to me a few times and the financing person will always proceed and finish up if you threaten to walk out. (8) You should understand what rate you will actually get somewhere else versus what the financing incentive is before you can really figure out whether you should go with the rebate or financing rate incentive. The financing portion is just another game that they can play with you. Get pre-approved before going to the dealership (it doesn't hurt to go to a few banks or credit unions and see who is offering the best rates; you can do this all online; even the application). Sometimes, the dealer will then try to beat the rate that you already have. It always helps to know what you can get so that the dealership doesn't charge you a higher interest rate than you should be paying. If you want to figure out whether to go with a rebate or the financing offer, calculate the interest savings yourself before you start working on your vehicle price. If you have Excel, you can setup an interest chart (PMT is the function name); if not, you should be able to look up interest charts somewhere online. (9) In summary: Know what you want to pay for the car before you go in via Edmunds, know what financing rates are available to you, know what your trade is worth. If they ask where you got price, tell them Edmunds. Alot of times, they will say that Edmunds isn't right, but I've found it to be pretty accurate.
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Replying to: anita16 (Jan 26, 2008 3:45 pm)
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Replying to: smokey15 (Jan 26, 2008 8:24 pm)
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Replying to: theophanes (Jan 27, 2008 1:23 am) So far my best quote which DOESN'T include tax, tag, title was: $14,523 for a CE with power locks, power windows, keyless entry, floor mats and vehicle shield (already put on the car) OR $14,686 if I add cruise control. Does anyone know if this is a good deal? Those quotes include the rebate. I was kind of hoping to pay $14,000 for a car with all of those extras....is that reasonable? |
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Replying to: smokey15 (Jan 26, 2008 8:24 pm) This is the deal they wrote up for me. 19,670.00 MSRP -1089 dealer discount _________________ 18581.00 -1000.00 toyota refund ____________________ 17,581.00 minus 3800.00(trade in) + 826.80 tax + (83.50 +55.00 tags) = 14,746.30 Does this sound like a fair deal. I am located in PA Thanks Anita |
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Replying to: anita16 (Jan 28, 2008 8:06 am) The price you have so far is horrible! On a loaded up "S" you should be paying no more than $3500 UNDER MSRP!. In September I got $3950 under that MSRP number. Don't let them take advantage of YOU!
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Replying to: anita16 (Jan 28, 2008 8:06 am) Main point: never start from MSRP. Good luck. |
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Replying to: anita16 (Jan 28, 2008 8:06 am)
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