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2003-2008 Toyota Corolla Prices Paid and Buying Experience

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  • I'm shopping for a new 2005 Corolla S 5speed M

    This is the configuration:
    2005 Corolla S
    CK - All Weather guard package
    VP - Extra Value Package 1
    AB - ABS Breaks
    BE - Side Airbags
    CF - Carpeted Floor Mats (I know I know, they're over priced but hey they have a little corolla logo on them)
    WL - Alloy Wheel Locks
    32 - Sport Pedals
    29 - Sport Shifter
    0Destination: $515

    My local dealer quoted me a final sale price of $17,017
    Tax out here is only 3%! = $510.50
    License and Title: = $76.00
    For a grand total of 17,604

    The sale price is about $400 over Edmund's TMV so I'm a little uncomfortable with it. Though the lack of extraneous "dealership fees" cuts the cost down also. Like another dealership wanted to charge a "dealer documentation fee" of like $250 dollars! And this dealer has been really honest with me and had worked very hard to get me financed. Plus its local. I've emailed other dealerships to see what they say, but no responses yet.

    Is this a decent deal even though its over the TMV? The car is pretty loaded, so loaded that they have to order it from the factory brand new. Just tell me what you guys/gals think. Thanks in advance.
  • That dealer documentation fee is a trumped up wallet stuffer. $200 dollars for what? The dealer here doesn't charge one, although he said most dealers do, can't tell you how relieved I was. Though since the price is a little high he may be "charging" it on the sly. Who knows *so frustrating*

    MM
  • cooljwcooljw Posts: 47
    modestmouse: Please see post #480 in this forum about the 5 speed Corolla S I just bought (similar config. to the one you want).

    My main advice for you: DO NOT "SPECIAL ORDER" a Corolla. You will end up paying *much more* than buying something that is either in stock or on its way to the dealership (dealers can see what's being delivered at least a few months out). Dealers also told me you cannot "special order" cars from Toyota. You can put in requests, which may or may not be fulfilled. I was told this can take 4-6 months.

    So, if the dealer quoted you a shorter time frame, he's probably talking about a car that Toyota already has in the pipeline to be sent to your dealer. If you think about it, the longer a car has been sitting on the lot, the more the dealer should want to get rid of it and the lower price they should accept. But in your case, they know you want a specific car, and thus the dealer has the opportunity to sell the car even before they receive it from Toyota. They are charging you a higher price just because they know you really want the car. Does that seem fair? They should be willing to sell the car for you on the cheap since they won't have to park it on their lot for very long and take inventory risk for it.

    When I bought my Corolla S I called up every local dealership and only found two places that actually had one in stock that met my specs. I got lucky and one of the dealers sold me the car on the cheap. The one I wanted was definitely not a popular configuration, and it sounds like neither is yours (in general it seems like 5 speed S models are rare). So, find out what dealers have and compromise on your options. You'll find that it's probably one particular option, like side-airbags, that is most rare in your configuration. You'll quickly find out what options you need to compromise on to open up the potential universe of Corollas you can buy - the more cars you can choose from the better price you can get.

    If you stick to the precise configuration you want you will end up paying more, and in my opinion it's simply not worth it.
  • [cooljw]

    Unfortunately, I believe manual anything in this class of car is becoming more rare. I believe young people don't like to drive manuals any more. Why? I dunno, maybe they like paying for the auto tranny that wastes gas, you tell me.

    I appreciate the reply to my message. I haven't had a chance to check your post but I will.

    The dealer told me specifically about how Toyota pulls cars out of the pipe line and changes the order, and that only takes 4-6 weeks (which is fine with me I'm in no rush to get insurance right away). So I am familiar with that process.

    Now I just recently emailed all the dealers in my local area. However, I live in a remote area so when I say my local' area i mean in a radius of 400 miles. The closest other Toyota dealer is 90min in three directions.

    All the dealers gave me quotes w/ in two days and frankly they are all pretty consistent. I even gave them the OTD price that I had and asked them to beat it and all they could do is beat it by $84.00 on the average. One was even $30.00 OVER!

    (That dealer ship is in Roswell, NM. I would recommend that anyone in that area shop elsewhere they are just crooked. They reported the MSRP on my config to be $18,400, which is way over the MSRP. Like I don't know what the MSRP is, sheesh.)

    There was one in Albuquerque that had one similar to my configuration on the lot. I crunched the numbers and his offer too was only about $80.00 under my local dealer. Albuquerque is 400 miles away and I'm not willing to drive 400 miles for 84 smakeroos. Its not ever worth the gas. So as you can see even a car on the lot is the same price as a "special pipeline order." I am going to email them all tonight to see if they can do any better, otherwise I'm just going to go with my local dealer.

    Let me know what you think. Thanks in advance.
    MM
  • ghuletghulet Posts: 2,628
    Unfortunately for you MM, there probably aren't a whole lot of Toyota (or any other) dealers to choose from in New Mexico, so the dealers naturally aren't forced to work too hard on price. If there are only a few in the state (one near you and the next nearest is 400 miles away), there's no reason to deal much.
  • If you don't mind. I would like to know where you
    purchased your car. I live in Indiana and having
    a hard time getting a good price on a Corolla.
    Thanks so much.
  • cooljwcooljw Posts: 47
    [modestmouse]

    Yeah, I guess you have to work with the car market you're in. I live in San Diego, there are 8 Toyota dealers within a 20 mile radius of me. I guess that explains why I was able to find a dealer willing to bend over backwards to win my business. For your market, what you're exploring sounds perfectly reasonable. Too bad there aren't more efficient ways to move cars from one place to another without incurring all the cost.
  • [cooljw]

    no kidding. Though I am saving on things like tax (3%) and TT&L charges (a total of 45.50) so maybe its not all bad. The prices were so close its not worth the 150mile drive to the next nearest dealer.

    I used to live in North County; when I moved here I was amazed that there was any space between towns. I mean on the freeways you're in one town for 10mins and then you're in the next. Life is very different out here, everything is slow and spaced out. One town per county, imagine that!

    I feel more comfortable with the price now that I've done my research. So I won't feel so bad paying it. I might remove a couple of options to save some cash. Thanks for your responses!
  • This past weekend I was shopping for a Corolla having specific options, figuring it would have to be a factory order. One dealer said that a car having exactly my specs was on its way, so we worked out a fairly good deal for that car. However, he said they didn't have the VIN at that time. Why would a dealer know everything about a car that is being shipped - color, options, MSRP - except for the VIN? I have a good relationship with this dealer and have no particular reason to distrust the salesman. But something seems fishy. Any thoughts?
  • fl101fl101 Posts: 13
    Can anyone tell me what is the purchase price in tampabay area? Thanks.
  • I just put a $100 deposit on my factory order. My car should be here in 6-8 weeks. :D The car that I purchased is in post #508.

    I can say that when I got there all the figures that he showed me were almost accurate to the penny that Edmunds's calculators had provided. I went with the 3.9 APR which is a heck of a rate--considering I'm only 22 and I actually qualified for it. Imagine that.

    I will say, however that Edmund's TMV was a little low. I would recommend Edmunds change the format of the TMV from a single number to a set of possible numbers, or better yet a range of prices to expect. This may only be the case for Toyota but all the prices I received from the east side of New Mexico and West Texas were less than $100 dollars apart. I would believe the TMV was incorrect when the quotes were that close (and about 400 dollars over TMV) all over this part of the mid-west.

    I will also comment that Edmunds has been a valuable resource and prepared me greatly for the car buying experience; most notably the "Confessions of a Salesman" article. I never experience anything like that at Toyota, but I did in a couple of other dealerships. It was hilarious as the article played out like a theatre production right in front of me. Every little trick, method of control, even down to that little 4-square sheet. Very amusing.

    To finish. So far my buying experience at Toyota has been pleasant. No pressure, just a straight forward honest business exchange. The dealer was pleasant and bent over backwards to get me financed. Very impressive if you ask me.

    Wish me luck. I hope my new car comes with a bit of good luck too. :)

    MM
  • mchipmchip Posts: 6
    Hi:
    I paid 15400 Out the DOOR for a TOYOTA COROLLA LE in NEW JERSEY with the following options:
    1. Audio Value pkg
    2. Secrurity Alarm
    3. Alloy Wheels
    5. Floor and Trunk mats
    6. Heavy duty radiator.
    Anyone got a better price somewhere?
    Please advice.
    Thanks
  • "out the door" means what ?
    price w/o any tax &/or license ?
    please advise.
  • mchipmchip Posts: 6
    OUt the door means with tax ,title and registration.
    Baseprice with options + tax + title + registration.
    Is 15400 a good price?
  • Kirstie_HKirstie_H Posts: 10,876
    It's impossible for anyone to comment on your price when you include tax, title, and registration in your price. That's because the price for those items varies not only from state to state, but from county to county and city to city. Without knowing the tax and registration rate in your backyard, other buyers can't interpret the price.

    kirstie_h
    Roving Host & Future Vehicles Host

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
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  • mchipmchip Posts: 6
    Kristie:
    my invoice is 14500 (05'corolla LE auto, audio pkg, alloy wheels, security system, floor and trunk mats, all weather guard pkg). How is the price now?
  • hoodyhoody Posts: 25
    damn they must be giving these away now in NJ, or you got someone that works at that dealership...... I thought I got a good deal here in Southern VA for 15,300 before tax and tags ....... the OTD was 16,236........the sticker on the thing was 16,669... mine had the same options , cept NO alloy wheels....... I tend to agree with that kirstie, that it gets a bit goofy with all these prices flyin around..... when your dealin with so many people in so many places.... so what my be a great deal in one area may be over the top in someone else's area.... I did a lot of "research" before i bought too.... and when I got my LE there were NO rebates, as they were just hitting the lots in July 04.. so all that needs to be taken in too.... besides I'm OK with my deal.......just my 2 cents
  • Kirstie_HKirstie_H Posts: 10,876
    Sounds like you got a great deal! That's a lot of car & options for $14.5.

    Now you can join other owners in our active Toyota Corolla discussion. Congratulations!

    kirstie_h
    Roving Host & Future Vehicles Host

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
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  • nw1997nw1997 Posts: 227
    mchip,

        That's an outstanding deal. Is that for an 05 model? Was it a demo? Which dealership in NJ? Were there any incentives used? That is a very good deal indeed. What was the MSRP?

    Thanks
  • mchipmchip Posts: 6
    HI:
    Yes. I used two incentives for a total of $900. My OTD after the incentives was 15900 (Invoice+options+6% tax+title+reg+other fees).
    options: vip security ,audio pkg, alloy wheels, mats, all weather pkg.
    Donno if this is really a deal for this price!
  • mchipmchip Posts: 6
    Oh Sorry: I forgot to include the 5yr/60000 extended warraty also ($600 per toyota website)
    -mchip.
  • In Columbia SC @ Dick Dyer Toyota. Excellent service. White LE with sunroof, side airbags, 6 cd am/fm, cruise and anti lock brakes. I paid $16500 + $339 (tags and tax) and a $99 as processing fee. Financed @ 0% for 36 mos. Much below TMV price. Everybody is happy :)
  • Well, he also threw in the floor mats, fabric protection and the free oil change coupons and have me promise an excellent customer review.
    :Shekhar
  • Hello Kristie,
    I would love to buy (toyota corolla le 2005) for that price, even without floor mats or security system. How do I do that?
  • Kirstie_HKirstie_H Posts: 10,876
    Your best advice is coming from other members - once you know the car CAN be purchased for that price, there's no need to pay any more. Visit our buying tips section first, then get invoice pricing and True Market Value pricing for the Toyota Corolla by clicking on my link.

    Pricing varies from region to region, city to city, so you'll want to make sure you're getting the data for your area by entering your ZIP code.

    If you tell us where you live now, some of our members may have dealership tips for you.

    kirstie_h
    Roving Host & Future Vehicles Host

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • The only thing I have to say to that is when there's only a few dealers in your local area you pretty much pay w/e they want you too..competition is a good thing, small town dealers run the market. :P
  • 3c33c3 Posts: 74
    Here in the northern California, carsdirect.com price is $100 over invoice, and I have received a quote for about $100 under invoice. Both before the current $500 rebate. Holdback for Toyota is 2% of base MSRP, or a little over $300.
  • I got away with about 500 ovr. invoice...not too bad i guess, just got to deal with the market you're in.
  • Just bought a 2005 Corolla LE(automatic) for $13944+tax+tag after $900 rebate. Options included:

    -VV Audio value package
    -CF Carpet floor mats
    -CK All weather guard package
    -C1 Trunk mat

    Is it a good deal? I am pretty happy with the price though. The sales person was very patient, not pushy at all. It is very helpful to use edmunds to get some internet quotes and bring the lowest price you get to start negotiating.
  • ghuletghulet Posts: 2,628
    That price seems pretty aggressive. That was without a trade-in?
This discussion has been closed.