Last post on Dec 06, 2013 at 1:44 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Toyota Corolla, Car Buying, Car Leasing
#1001 of 1242 Peer Review of Potential Purchase
Dec 24, 2010 (8:13 pm)
I don't mean to interrupt the previous poster, but I too am in a similar predicament. I would very much appreciate feedback/critique for my soon-to-purchase, end-of-the-year 2010 Toyota Corolla LE.
A little background info:
I'm a first-time new car buyer, who waited purposely towards the end of the year. I will be paying in cash. Essentially after a week of intensive research (edmunds, true car, cars direct, etc) I have an idea on a competitive, reasonable offer price.
However I don't trust my judgment.
Blame it on inexperience or the fact that I'm too close to the situation, I worry I'm not seeing things objectively.
Here are the figures I got from a potential auto dealer (among several others):
Offer: $16, 244
There is a $1,000 rebate so the OTD cost would be down to $17,103.00 (correct me if I'm off). This deal will expire on Wednesday Dec 29, 2010.
If you were buying this car, how would YOU counter-offer the socal California dealer, keeping the annual timing in mind, and your eagerness to demonstrate your high pricing I.Q./savvy. Up to this point, I've been vacillating between $15,600 - $15,900 range. Too high/low still?
note: Long story short, I believe the dealer made a concerted effort to dust himself off, get back on his feet and to propose this deal - which I am grateful for. I don't want to come off as a shill, as I understand that he is running a business. A diplomatic counter-offer price is what I'm looking for. Any suggestions/feedback would be greatly appreciated ... before the deal expires.
#1002 of 1242 Re: toyota Corolla LE [mverma]
Dec 25, 2010 (10:29 pm)
Actually, that seems about the right OTD for a LE. Note that at many times people don't distinguish between OTD price (actual price paid) or base price (before tax etc.) when posting here, or mention if they got the 0% APR (which is kind of worth between $1k to $4k depending on your credit worthiness). And plus-minus a couple of hundred bucks is usual depending of local dealer inventory etc.
Stop fretting about it and enjoy your new car!
#1003 of 1242 Re: Peer Review of Potential Purchase [explorer007]
Dec 25, 2010 (10:51 pm)
My OTD offer would be $15,900, that is $265/month at 0% for 60 months if you need financing.
Just walk into the dealership an hour before they close on a weekday, say that you are ready to sign right then if and only if they can give you $265/month (or $15,900). Stick to it. Let them do the talking to prove how much money they are losing: don't worry, it's all bs, so you needn't feel bad. And by the way, have dinner before you go in, because you'll be there for 3-4 hours, as the salesman passes you to saler manager, and he passes you to GM, and he passes you the Finance guy etc. And for heaven's sake don't buy any "extras" (warranty / service / GAP) from the guy doing your paperworks at the end, you'll be burnt if you do.
BTW, the offer won't expire. The dealer will be even more desperate the closer to the new year he gets. He needs to make room for the 2011 models! Just stick to your offer. If they say they just can't meet you price, look sorry and start leaving. If they seem not to try to stop you, offer $270/month ($16,200). But not any higher. There are too many Corollas in the market for one dealer to be so obstinate.
Dec 27, 2010 (5:06 am)
For a new 2010 Toyota Corolla with a MSRP of $18060, IMO you should not pay more than $14,900 plus taxes, tags and dealer processing assuming that you can arrange your own financing or pay cash - assuming that you are in a reasonably competitive market.
If you are wanting the 0% financing then you would want to pay an additional $750 which is I believe the current cash rebate for some one not wanting the financing from Toyota.
I got the Corolla for closer to $14,400 plus taxes, tags and processing but that was because the dealer had a lot of inventory and probably wanted to move some cars out in a hurry.
I am in Northern Virginia but having lived in Southern CA, I know that the market there is a lot more competitive than it is here.
I personally cite prices before taxes, tags and processing because these vary by state - especially the sales tax factor. I have purchased six cars in the last ten years for our use as well as negotiating deals for my children.
BTW, I don't negotiate in person or by phone but rely entirely on email. It is much more efficient and though dealers don't like it they are willing to do so. I finalize the terms and then we meet and complete the transaction. I have negotiated prices for six cars over the past ten years for myself or my children and it has worked out every time. The cars have ranged from Lexus to BMW to Acura and Toyota.
Hope this is helpful to you.
Jan 01, 2011 (5:00 pm)
I hate to do it but I am trading my Tacoma in tomorrow for a Corolla S model. I am worried that gas will be at $4.00 a gallon and I do not want the feeling of putting $80.00 a week in my gas tank again. Local Cincinnati dealer here gave me $3000.00 off the $19,984 sticker and the fee's were only $50.00 that included temp,Docs,Title. The nice thing is free maintenance for 30,000 miles including the 30,000 mile service. This dealer will also gave me a life time warranty on the car as long as I get all the service done there.
#1008 of 1242 2010 Corolla S w/ pkg #3 $14,298
Jan 02, 2011 (5:15 pm)
Bay Area (SF)
2010 Corolla S
- 5 speed manual
- option package 3 (alloy wheels etc)
- car mats
$14298 (includes all fees EXCEPT government taxes/fees).
Sent emails to all dealers in a 75 mile radius for exact car I wanted.
Many were very high and just dreaming.
Zag as well. Lowest from zag -- dealer wouldn't return messages or emails --- clearly bogus.
In the end the first salesman who called me, actually had the lowest price and did a dealer trade with another dealer to get the car for me. Outstanding customer service.
Easy transaction, had to drive 45 miles to pick up car, no big deal.
Hope this helps someone.
#1009 of 1242 Re: 2010 Corolla S w/ pkg #3 $14,298 [mikey124]
Jan 07, 2011 (9:34 am)
Thanks for your post.
I'm also in the market for the a Corolla S and I am in the bay area.
Do you mind sharing with me the name of the dealer you bought your Corolla S from?
#1010 of 1242 Re: anyone have any experience with Zag.com buying? [shauggy]
Jan 07, 2011 (5:24 pm)
Just to post another update, we paid $14,063 for a manual Corolla S with window tint and a sunroof (just over $15k OTD). Went through Bank of America for our financing and got 2.79%
We started our purchase through Zag with a base model Corolla - Zag lets you configure a car with an options you want, even ones that aren't available (just to drive traffic to the dealer, I'm sure) We tried a couple different cars and a few different configurations and found it cheaper just across the border in SC than anywhere else nearby. The dealer couldn't give us the one we originally wanted, so they offered us the same discount off an S model (which ended up being cheaper than the Zag discount of the S)
I went to a dealer closer to our house with my Zag printout, and they poo-poohed the Zag deal saying they doubted it was legit....so I went back to the original dealer, placed a deposit and a few days later picked up the car. 2500 miles on it so far, she's still doing well.