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2013 and Earlier - Toyota Corolla Prices Paid and Buying Experiences

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Comments

  • vois22vois22 Posts: 18
    $305 monthly for 36 months comes to just under $11,000.

    Then, assuming a $500 deposit down, there must have been a trade-in and they must have offered around $5900 for a trade-in. Do you know the exact make and model and year of the trade-in and what its condition was (excellent/good/fair, etc), (My assumptions could be wrong, because I am still totally perplexed why the purchase price of 17,400 went up to an OTD price of just under 19,000 --- unless state and local taxes are being paid by the dealer or something? )

    Now that you mention the 36 mos. at 0% interest, I am not so worried about predatory lending. But when you mentioned that your friend needed someone else to sign on for a loan I was concerned about it.

    So, they key here will be:
    (a) Whether the trade-in was severely undervalued.
    (b) What exact line-item fees have been added to go from a purchase price of 17,400 to 18,987 . Please list those if you can, because I am perplexed. Should not be more than about $200 in fees max making it 17,600.

    Thanks.
  • yisingyising Posts: 10
    vois, im sorry i forgot to mention she was planning to put a down payment of $8000 and we didnt have a trade in. sales tax is 7.25% which comes to about $1261 and liscence is $168 and the dock fee is $150
  • vois22vois22 Posts: 18
    Ok, so it gets to this:

    Purchase Price 17407.00
    Dealer will pay TTL , 1429.00
    Doc free 150.00
    Sub-Total 18986.00

    The $8000 down is consumer's choice, but I wouldn't recommend it if she is sure she wants this Toyota and that she wants to keep it for all of 36 months. This thing will be under bumper-to-bumper warranty for 36 months. Toyota's hold their value so well, $8000 is an AWFUL lot of cash to put down on a new Toyota car which is only worth $16500-$17500.

    Heck, she could pay the TTL of 1429.00 herself at her local motor vehicle bureau office ... and finance only $13,057 (worksheet below) at 1.9% for 48 months, and she would have an extra $2,071 in her pocket right now (not to mention an extra $22.30 PER MONTH in her pocket after that compared to a $305 monthly payment) ... and she could invest that extra immediate $2,071 elsewhere for a better outcome (or go to Jamaica on vacation, etc). Here's that worksheet:

    (With this worksheet below, she will go to the DMV to pay her own taxes and license fee.)

    purchase price 17,407
    doc fee 150
    (minus downpay and deposit) ( -4,500)
    AMOUNT FINANCED: 13057
    1.90% at 48 months ==> $282.70 per month -or-
    0.00% at 36 months ==> $362.69 per month

    Please note she would be investing only $4,500 into the car upfront, instead of $8500. Under this $4500 scenario, let's assume she decides in 44 (fourty-four) months to trade-in her Corolla and get a new car. At that point, after 44 months, she would still owe only $1,130 on her loan on that car ... but the trade-in value were she to trade it in will be SEVEN THOUSAND DOLLARS at that 44 month point. (assuming the car is in good shape, no wrecks on title history, runs well and needs only a little reconditioning to be sold at retail).

    And, here is what she can do with the extra $2,071 in-hand right now:
    - Give it to her boyfriend.
    - Invest it into a 36-month CD for savings at a 3.25% interest rate --- then at 36 months withdraw that CD which will have grown to $2300.00 by that time. She can then use that $2300 towards yet a larger down payment on her next car to "move up" to the next gen vehicle such as hybrids or Camry etc.
    - Or, just blow it now on a vacation or new toy. Help the U.S. economy.

    And, here is what she can do with the extra $22.30 per month during those 44 months:
    - Send me beer money.
    - Save it into a small savings account for 44 months. Those monthly deposits of $22.30 will grow to just under $1,000 by 44 months.
    - A $22.30 monthly meal or night out with her boyfriend, each month.

    Hope that helps. Since you are doing the low financing, we can say that, yes your purchase price is about $800 too high, but that seems to be the only hit you are taking here. Go in and say, we change our minds, unless we can get another $800 off the purchase price. Negotiate in the middle -- take it from $17,407 to $17,000 even.
  • yisingyising Posts: 10
    Thanks vois for your help, one thing i dont understand though is the purchase price of 17,407 is 800 to high, becuase i used the TMV pricing report and with VS Vehicle Stability Control, CL Cruise Control, KE Keyless Entry, EV AM/FM 6CD Changer w/6 Speaker Audio, CF Carpet Floor Mats, CK All Weather Guard Package
    ,EF Rear Bumper Protector, GN Cargo Net the invoice comes out to $16998
  • vois22vois22 Posts: 18
    Your invoice mention of $16998 includes a couple of "gotchas" though. First, both you and the dealer and TMV are pricing out the "5 mats" thing at $200. The only problem is, the dealer didn't pay but a few bucks for those mats. As you can see in many posts on the preceding pages, most dealers throw in the mats for free if you ask for it. So that's -$200 there. And then there is the holdback. The holdback for the 2009 Corolla is $345. This is money back on the car that the dealer will receive from Toyota later in the quarter on that car, so long as the dealer sells a certain amount of Corollas. (Which they will do, no problem.) This is a way of padding the invoice on paper, should you (as customer) ask to see the dealer invoice. So, from the $16998, we subtract -$200 and - $345, bringing down what the dealer actually paid for the car, to $16453. In the current climate, for the LE, you should be paying 3% more than the dealer paid on the car, which is $16946. This is the reason at the end of my previous post, I told you get it down to $17000, and you've got it.
  • yisingyising Posts: 10
    hey vois is the deal you got on your Corolla S a manual or automatic
  • yisingyising Posts: 10
    hey voise, is the corolla s you purchased an automatic or manual
  • vois22vois22 Posts: 18
    Mine was Corolla S with 4-speed automatic, and the power package: cruise control, power steering, power doors, power windows, power heated outside folding mirrors, air conditioning etc.
    remote keyless entry, fog lamps
    16" alloy wheels, chrome exhaust, driver & front passenger side airbags, front & rear side airbags,
    underbody front & rear spoilers, rear deck spoiler,
    6-CD / MP3, iPod audio
    all weather package w/rear heater duct
    floor mats, trunk mat, carriage net

    Be aware a lot of that above is standard to S, but I listed it there since I know you weren't necessarily shopping the S. Hope that helps.
  • yisingyising Posts: 10
    hey vois,
    good news i got the check back, but now were working on getting a corolla s, we found one in at spirit toyota with weather guard, sport pack, VSC, JBL, 5 pc. mats they said the sale price is 19604, TMV gives a MSRP of 20974 and invoice of 18662 when i negotiate should i bring up the "gotchas" you told me about, if i do that i come up with a purchase price of 18005 without tax, do you think this is about right for my target price?
    thanks
  • vois22vois22 Posts: 18
    To [ yising ] :

    For the 2009 Corolla S with WG, Sport, VSC, JBL, mats (make sure it is JBL and not the standard 6-speaker 6-CD MP3 of Toyota), you are looking at the lowest end price of $18,550 and high end of $18,969.

    The dealer paid $17,816 for the car.

    Considering the MSRP on both CR and TMV of 20,974 : You would not want to pay more than the $18969 (which is about $2000 of MSRP).

    Personally, if it were me, I like the S package +JBL +VSC +Sport, so I would buy it for $18,760.

    Hope that helps.
  • yisingyising Posts: 10
    hi vois, thanks for answering my questions, its very helpful. i do have another one though, when you said : "Personally, if it were me, I like the S package +JBL +VSC +Sport, so I would buy it for $18,760." would that be the price also with weather guard, sport package, VSC, JBL, and floor mats or would that only be the price for the JBL,VSC, and Sport package. also if i ask the dealer to throw in the floor mats or that i dont even want them and he tells me they cant take them out of the car what do you think i should say?
  • Hi , I paid $17,650 OTD for a 2009 toyota corolla LE with keyless entry and criuse control , this is in florida and we have a $250 new tag fee and 6% tax. I hope this is a good deal ???
  • If your state has 6% tax and $250 new tag fee , then consider this as bench mark , 2009 totyota corolla LE without any addtions , just the regular power windows and power lock should cost $17,000 OUT THE DOOR . ie final cost to you. Negotiage based on this with say $300 less. Haggle it out !! good luck.
  • I paid 16,500 for LE +Taxes + 130 $ for reg in NY. Is it a good price
    I got cruise control
    Carpet Mats
    Remoteless Keyless entry
    All weather guard package
    as options

    The invoice he said was 16,812.
    he gave me invoice+200 -500 (incentive)
  • vois22vois22 Posts: 18
    To [ yising ]:
    My mention of 18760 would be for the S trim, +WG +Sport +JBL +VSC. I don't even bother mentioning mats in numbers/quotes/offers/statistics -- because the mats are worthless. The dealers pay next to nothing for their sets of mats.
    You should try to get the mats - for sure - as a part of the 18760 deal.
    You will want them, especially with Fall coming, muddy leaves and detritus on your new carpeting.
  • I am being offered 2009 Corolla LE for $17286 over the internet by a dealer in Texas.
    This includes Cruise Control, Remote Keyless Entry W/Key Transmitter,Carpet Mat Set.
    What should i ask for in here ?
    thanks
  • vois22vois22 Posts: 18
    To [ kmurali70 ] :

    kmurali70 wrote:
    I am being offered 2009 Corolla LE for $17286

    Based on several entries in the forum here during the last two weeks, and my own research as well, this seems too high. Please note prices of $16100 to $16400 on several posts for the same package of 2009 LE +Cruise +WeatherGuard +Keyless +Mats

    Hope that helps. You can use the tiny page numbers to go back through pages of the forums. (click on green numbers below)
  • Just got a quote from a dealer in Florida for 2009 Corolla XLE with VSC, cruise, and navigation. $20,608 OTD. If I want 0% financing the price will be $750 more.
    Is it a good price? If I negotiate how low can I start? And btw, I do want 0%. Thanks!
  • immjimmj Posts: 1
    NY upstate:

    I am being offered 2009 Corolla LE for 17600 OTD. (8% tax)

    So the price is about 300 below invoice.
  • vois22vois22 Posts: 18
    To [ stella7 ]

    stella7 wrote:
    quote from a dealer in Florida for 2009 Corolla XLE with VSC, cruise, and navigation. $20,608 ... If I want 0% financing the price will be $750 more.

    Hi stella7, I would like to hear the dealer's reasoning for raising the PURCHASE PRICE of the car by $750 based merely on the fact that you want a 36-month loan and not a 48-month or 60-month loan. Something is really, REALLY, wrong with that notion -- ranging from ILLEGAL to CONFOUNDING. I do highly encourage you to give that dealership a second chance, such as like this: "If I understand correctly, you are wanting me to pay $750 more on our agreed purchase price, due to my wanting to take advantage of Toyota's national sales event offering 0% financing on 36-month loans. I just want you to put that in writing for me. Then, I plan to post the name of this dealership and address, on the Edmunds Talk forums, along with your telephone number, to see what opinion I get on that stipulation." (It is perfectly OK to do that, so long as you do not post any individual person's name.) ... Let's see how fast they drop that "extra $750" idea.

    Furthermore, the buy price for the 2009 Corolla XLE, with +Cruise +Navigation +VSC ... is between $17880 and $18600, based on your region.

    stella7, run do not walk, ...run ...
    I can say that (if it isn't obvious) I feel very strongly about your situation...
  • kyfdxkyfdx Posts: 31,248
    Reminder!!

    You may include the dealership name, city and state in your post. Please do not post names of salespeople, telephone numbers, email addresses, or other contact information.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Stella,
    Congratulations on finding one of the very few Corolla Xle's with VS and Nav in the Southeast. The reasoning for the $750 difference is that the 0% apr offer cannot be combined with the $750 cash back offer. Nothing scandalous there. I'm assuming that the $20,608 is after all the state taxes and fees and that it is red?
  • What options you have? Looks like you have a better deal than mine. I paid 18134 (8.375% tax)
  • Thanks, Bob, and yes to both.
    Vois22, why are you saying that the price is 17880-18600? According to Edmunds, the numbers for this car in my region are: $20,225 MSRP, $18,794 invoice, and $19,957 what others are paying (without $750 rebate). There is no agreed purchased price yet. Oh, and the car is not even in my city. They have to go get it. Since it is hard to find I am thinking of getting a camry instead. There are more vehicles to choose from and more room for negotiating.
  • jilliewjilliew Posts: 48
    Attn: Stella

    I live in Northern, CA and bought a fully loaded XLE last March. It had everything except the kitchen sink and a moon roof. The price was $20,300 OTD. That also included an extended 100K mile warranty.I paid cash so I didn't have to haggle financing. I would advise you check around a bit. Even in other states close to you.Take your time and keep calling. I'm sure there is a better deal out there than what you got offered. Car salesmen love to take advantage of women but they can be outsmarted. LOL BTW, I love my car. It's comfy, fun to drive and gets great gas mileage.
  • yisingyising Posts: 10
    I'm looking at some auto Corolla S trim with Sport Package, JBL stereo, vehicle stability control, floor mats, all weather guard package. the invoice for the car($15,610) + invoice of options($2,457) comes and delivery($720)= 18,787, if i subtracted $422 for dealer holdback from $18,067 (invoice of car and options) it = $17,644.52 (dealer's cost) and then add 5% fair profit I come to $18,526.75 + $720(delivery) I come to $19,246.75
    MSRP= $21,124
    the dealer ended up offering me $19,205+TTL
    does this sound okay to anyone? vois? ideas? opinions?
  • vois22vois22 Posts: 18
    To [ kyfdx ] :

    Sorry about that on the telephone number correction. Thanks.

    To [ stella7 ] :
    I agree with you about the wide array of compact cars right now, not only Toyota, but so many other excellent choices from other makers in the same price range. For this reason, prices on any make of Corolla (regardless of color, and trim) are highly negotiable. As for the quoted price of 20608, I believe that the forum post #2176 by poster [jilliew], pretty much says it all by comparison. In that post, [ jilliew ] states a loaded XLE + 100K warranty for $20,300. However, as poster [ bob30075 ] correctly alludes to, we don't have enough information from your original post as to the nature of your 20608 quote -- i.e. whether this number includes all state and local taxes, registration and license fees, document fees, and delivery fee.

    To [ yising ] :
    I am sticking to my original numbers in our exchanges previously regarding this same Trim S with options as mentioned before...
  • Voise22 wrote:
    [However, as poster [ bob30075 ] correctly alludes to, we don't have enough information from your original post as to the nature of your 20608 quote -- i.e. whether this number includes all state and local taxes, registration and license fees, document fees, and delivery fee]

    Yes, you do. :D In my original post, I put "OTD" next to the price ." I also answered this question in my second post.
    Anyway, thanks everybody. I think I've made up my mind. Good luck to you all!
  • Just wanted to pass this along- In Southern California at the West Covina Toyota, West Covina, CA Internet Dept for a 2009 LE with a $ 18,064 MSRP), power door locks, carpet, etc. but no cruise control. Paid $ 15,248.00 (excluded tax or license). That price included a $ 1,000 rebate. Color is green, it had some other fancier name for the color.
  • Hi everyone,

    I am a first time car buyer living in Utah and looking for a 09' Corolla base model or LE. I got the following quote from a dealer.

    "We can get you an LE for $17,006 and the OTD on that is $18,642. That includes 6.5 % sales tax, $299 Doc fee, $150 property tax, $58 registration, and $5 tire recycling fee. For the base model it would be $16,729 and the OTD would be $18,352. You may then choose a $500 rebate or 0% financing. We also offer free tires for the life of the vehicle. These prices are $100 over invoice."

    Can anybody give me any advice on how to negotiate with the dealer?

    Thank you in advance :) !
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