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2013 and Earlier - Toyota Corolla Prices Paid and Buying Experiences

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Comments

  • fagosfagos Posts: 3
    edited November 2010
    1. Does anyone know whether the Toyota College Graduate $1,000 Rebate Program can be combined with the $750 Factory Cash Back?
    2. I can afford to pay the car in cash, do I still have to finance it through TFS to get the Toyota College Graduate?
    3. If could get the college rebate without financing it, do I still need collision insurance?

    If you know from personal experience please let me know ASAP since I want to buy a Corolla LE within the next 2-3 days. The dealers are telling me that most probably I could combine them but the factory cash back says "Offers cannot be combined" but they are telling me that it cannot be combined with 0% financing. One guy here posted said that he could not stack them for a Toyota Camry.

    EDIT: After some searching I was able to find the following bulletin:
    http://www.rodlandtoyota.com/images/pdfs/College%20Grad%20Rebate%20Program%20201- - - 0.pdf
    that says: "Effective 01/05/10, Dealer Participation is no longer allowed under the College Graduate Rebate Program". Should I take this as no to my first question? Then I guess the dealers are lying to me to make me buy the car... and find out that I am not eligible for both rebates only after I am about to sign.
  • You can't combine the factory cash back with the 0% but you can combine either the 0% or factory rebate with the graduate rebate.

    Regarding the college incentive on their website: "Rebate available on contracts executed between January 5, 2010 and January 3, 2011". It's posted on their website. Whatever pdf you printed seems outdated.

    I was able to get all incentives but the 0% due to the APR not being able to be combined with my $1000 factory rebate. It was cheaper to get the 1k instead of 0% because of my down payment.
  • fagosfagos Posts: 3
    Thanks for your quick reply! So were you able to combine both college rebate and factory cash back?
    The pdf doesn't seem outdated to me since it is for January 05, 2010 through January 03, 2011. Yes I know that the rebate is posted on the toyotafinancial website but doesn't say anything whether it could be combined or not with any factory cash back... On the pdf I found it's highlighted that it cannot be combined with any dealer participation and I guess the factory cash back belongs to that no?
    Do you I know the answers to my 2nd and 3rd questions?
    Thanks again!
  • fagosfagos Posts: 3
    edited November 2010
    Just to answer my own questions:
    1. Toyota College Graduate $1,000 Rebate Program can be combined with the $750 Factory Cash Back!
    2. To get the Toyota College Graduate $1,000 Rebate financing is required.

    I just bought today a Toyota 2010 Corolla LE in Southern California (MSRP $18,060) for $15,500 before sales taxes and dmv fees and before the combined $1750 rebates. OTD was ($15,500 + $55) * 1.0875 + $303.75 -$1750 = $15,469.81. I paid $10,469.81 downpayment and I financed 5,000 with 3.75% (that I will pay it off completely anyway after a couple of months).
  • My son did tons of research using Zag, internet pricing, etc. of many metro Atlanta dealers, eventually working with 5-6 dealers. Marietta Toyota would have sold us a new S for $13,997 at the end of November. We bought the color he wanted in December at Sandy Springs Toyota for $14,400. This was brand new and had <50 miles on it and included the spoiler, alloy wheels, etc. Only option was floormats. The recent college graduate $1000 rebate was then applied, lowering the price to $13,400! Dealers in Atlanta are advertising LEs on their websites for $13,775 so you can get them lower if you bargain a bit. Cobb County Toyota would have sold us an S for $14,780. Team Toyota Lithia Springs was around $14,500. Just do your work and you'll get an amazing price on a '10 Corolla these days.

    The $1000 recent college graduate discount came with a BIG issue though, interest rates of 11-17% !!! SET gives you $1000 and them whams you with outrageous interest rates, even though I'm on the loan with my son and we both have very high credit scores. The loan prepayment fee is $100 so we'll refinance in a few days at around 4% and eat the $100 prepayment fee. Gotta love SE Toyota.
  • shouravvshouravv Posts: 11
    edited December 2010
    I bought my new Corolla from Tansky's (Columbus, OH) 1 month ago, for $14,670 OTD (including tax, BMV+doc fees etc.), zero down, and 0% APR: that is $244.50/month for 60-months. It's the auto-trans basic trim plus all-weather-pkg, carpeted-mats and rear-bumper-protector. I got the $1000 college grad discount, $500 customer cash, and they combined it with the 0% APR offer. Actually I got very similar quotes from other Toyota dealers in the area as well, Tansky's just happened to be the first to give me an appointment.

    I don't exactly feel that I got a bad deal, since the TMV price for this car was about $800 more at that point. However, it seems that all the Columbus area Toyota dealers have about 150+ new Corollas sitting in the lots (although just a handful are basic trim) so I am just feeling that if I waited may be I could have gotten a LE or better for this price. Oh well, I went for the best I could get at that point.

    What do you guys think, was it a fair price?
  • ovyboxovybox Posts: 21
    I think you got a really good deal. The 0% APR is worth another $1000, off the top of my head.
  • tjinvatjinva Posts: 23
    Here is the deal we finalized in Northern Virginia:

    36 months lease
    45K miles
    MSRP $18,060
    Monthly payments $174
    Front end payment of $845: first month's lease payment, taxes, tags, and processing

    Acquisition fee of $650, was built into the lease payment
  • tjinvatjinva Posts: 23
    Re: "Front end payment of $845: first month's lease payment, taxes, tags, and processing"

    A clarification to the above statement: the $845 front end payment was made up of the first month's lease payment, taxes, tags and processing.

    It was NOT a reduction of the capitalized cost.
  • kyfdxkyfdx Posts: 31,211
    Wow... that's a cheap lease!

    Good job!

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I bought toyota corolla LE automatic today and I feel bad seeing all the price here. It seems I got cheated. I paid 16200 OTD. MSRP was 18300. I am paying zero APR for 60 months. I did not get any college grad discount. I did not have any trade in. Did I get screwed?
  • Does 15700 includes tax and all? is it on zero APR?
  • .
    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):

    MSRP: $18,050
    Offer: $16, 244
    OTD: $18,103

    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.

    Question:
    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.
  • 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!
  • shouravvshouravv Posts: 11
    edited December 2010
    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.

    Good luck!
  • tjinvatjinva Posts: 23
    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.
  • nashkarennashkaren Posts: 2
    edited December 2010
    Hello, sorry for the late reply. I didn't notice your response. Marietta Toyota gave me a great deal, I was very pleased! Here is a link to my purchase order:

    http://img821.imageshack.us/i/purchaseorder.jpg/
  • 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.
  • mikey124mikey124 Posts: 1
    edited January 2011
    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.
  • r32r32 Posts: 3
    Hi mikey124,

    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?

    Many Thanks!

    -r32
  • 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.
  • Hi Verma,
    Can you pls tell me where did you buy your car? I am in Milpitas, CA.

    thanks
    Kannan
  • Hi,
    Can you pls let me know from which dealer you bought your car. I am also looking for the same.

    thanks
    Kannan
  • shouravv, is this the base model or S? Manual or automatic? Just wanted some more details as I am shopping for a 2010 Corolla S Automatic.

    Thanks in advance.
  • as well the dealer and location, that would be very helpful.

    thanks
    Kanann
  • Hi, I'm in the Bay Area as well looking to buy a Corolla within 6 weeks...sounds like you got a good deal. What dealership did you buy from?
  • The ole advertising fee I think is rearing its ugly head here in PA. 2010 Corolla LE, auto, LE#1 Pck, Weather Pck, Bdy Side Mld, Pref'd Accessory Pck....Edmunds says Inv = $16730...dealer says $17K....not clear what the differnce is but I'd guess advertising fee....is that actually on the invoice in PA? They seam to be willing to sell at 'invoice' plus $750 rebate...is this reasonable?
  • I'm getting quotes for 2010 LE auto in the Dallas area for $15.2-15.8 I think this is high. What do you think?
  • I just purchased last week a 2010 S Automatic for $14,791 OTD in Augusta, GA. I searched through truecar.com first then come into the dealership. They quoted me $14,760. The dealership is Milton Ruben Toyota. I negotiated down to $14,150 with the help of my beautiful wife. (I offered to trade her in but they declined.) The car is actually for her.

    I originally wanted a LE Auto that they quoted me $14,081 invoice but it was gone the next day. Anyway, they had several S left and I took the silver one. They were saying the 2010 stock were going fast but they might still have a few left.
  • y12dy12d Posts: 2
    I got 2010 LE (auto) + installed options (see below) for 14650+taxes+doc fee (350) in MA

    Installed Options: FE: 50 State Emissions / EM: Color Outside Rear View Mirror with Heater / CK: All Weather Guard Package: (Heavy Duty Heater with Rear Seat Heater Duct, Anti-Chip Tape, Color-Keyed Heated Outside Mirrors) / LE: LE Package: (Power Windows with Driver-Side Auto Down and Shift Activated Power Door Locks) / QA: LE EVP #1 Includes (Cruise Control and Remote Keyless Entry w/ Key Transmitter) / B3: Bluetooth Handsfree / CF: Carpet Floor Mats and Trunk Mats / DK: Preferred Owner's Portfolio / EF: Rear Bumper Protector
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