2003-2008 Toyota Corolla Prices Paid and Buying Experience

cooljw · September 2004

Can someone help me make sense out of this?

I am shopping for a Corolla S 5-spd. Edmunds and many other sources say the invoice on the base S is $13,325. 2 dealers have told me that Edmunds is out-of-date, and that Carsdirect has the correct invoice price, Carsdirect shows $14,041 - that's a whopping $700 higher. Could it be that Toyota recently raised prices on the Corolla by so much?

Obviously the $700 makes a big difference here in negotiations. Anyone have any guidance?

Also, FYI: Was quoted on a Corolla S, 5spd, w/Moonroof, 6 disc in-dash, Extra Value Package, and Preferred Accessory Package for $15,422 from a local dealer (includes destination charge, does NOT include the $500 rebate). This is a GREAT price using the higher invoice price, and a MIND BOGGLING deal using the higher invoice price.

macedon · September 2004

Both carsdirect and toyota.com have the MSRP of the Corolla S of $15240 so the price most likely was increased in 2005. Edmunds shows a lower msrp price.

The price I got on carsdirect for your configuration was $15933. Are you sure that the dealer did not take the $500 into account? I don't know how to explain it.

cooljw · October 2004

I talked to the dealer again. Yes I'm positive the price quoted does not take the $500 into account. He said they are actually selling the car for a loss. He said something about being a very high volume Toyota dealership, with an Internet sales department which sells cars at a loss in order to keep sales volume up and keep Toyota happy. Does that sound possible? I don't see why any dealer would ever sell cars at a loss. Even taking their 2% holdback into account, at that price they are losing $400 on the sale. The dealer said this was routine for their Internet sales department, and that they don't change the price on people after they come down and waste their time...etc etc. Sounded pretty sincere.

The price I saw on Carsdirect.com was $15,974, pretty much the same as you saw.

Well, $15,422 less $500 rebate = $14,922 and just add tax/tags/license and this sounds like a phenomenal deal. I just might be the owner of a new Corolla S after tomorrow. Will post any updates.

macedon · October 2004

Cooljw, What state are you located in? I'm in NY and having a heck of a time finding the Corolla without extra options that I don't need. Your deal sounds great; you are getting extras without paying for it.

I really want the Corolla LE (now I'm considering the S model). But may have to go with 2004 Civic LX that I got quoted for $13,694 with tax and title to be added.

Or I can go with a certified 2004 LE w/o ABS for an internet price of $12,995 which I would think is negotiable. Figured I could offer $11,000 then $11,500. (about 12k miles or less, I am going blind researching). Guess I don't really need ABS. When beginning my car search, I honestly thought it was standard on all model now. Ugh! Have a perfect driving record w/o ABS all these years so...

Please everyone, give me your suggestions.

cooljw · October 2004

macedon: I'm in San Diego. I actually am having trouble finding a Corolla with all the fancy options I want (really I only want a sunroof in a 5spd - a rare combo). I looked at used car ads online for slightly used Corollas and the prices are nuts, I just don't get it. I even contacted a dealer about a used Corolla he was selling, who then quoted me a lower price on a brand new Corolla. I always thought you should be able to buy a slightly used car for a nice discount compared to buying new - I totally did not find that to be the case. Of course, I was only looking at online ads.

cooljw · October 2004

Woohoo! I thought it was too good to be true, but it wasn't!

I just came back from the dealership - El Cajon Toyota in San Diego. I'm the proud new owner of a silver streak mica Corrolla S 5 spd 4dr w/ VP (Extra Value Package), SR (Moonroof), EV (6-disc in dash), and PA (Pfd. Accessory Package). Price was as they said over the phone, $15,422 + tax/tags/title, which came out to $16,853. Less the $500 Toyota rebate (expires 10/4) and I paid $16,353 cash for this car out the door. It was a brand new car, had 13 miles on it. Totally legit, they took a loss, and didn't even try to hard sell me on alarm, accessories, etc. The financing guy called it a "$600 loser" when speaking with his colleagues (e.g. they took a $600 loss on it).

I talked to 2 other dealers about the offer price before going over to El Cajon, both said they would not touch that price and forewarned me that El Cajon would scam me and probably didn't even have the car they promised (especially since 5spd w/moonroof in a Corolla S is rare, and you can easily make a profit on this car). Well, they were totally wrong. In fact we went to Kearny Mesa Toyota first to test drive a white version - the only one they had, and it literally got test driven and sold as we arrived, so we didn't even get to test drive it.

El Cajon said they routinely sell cars at a loss through their Internet Sales group to keep volume up, so that they get a better allocation from Toyota. In other words, they will make it up elsewhere. No other dealership was willing to do that when they could just as easily made a profit on the car.

Basically I'm floored, and the very happy owner of the car I wanted. A really great new car buying experience!

sqisme · October 2004

I'm near Boston. Looked at some 2004 Corolla LE's at a Toyota dealership yesterday, one with mileage less than 11,000.

Their sticker price was about $15,950. That's more than people are paying for 2005 Corollas. I'm trying to figure out what I should be willing to pay for this car -- any suggestions?

(I wish I could find one with ABS and 5 speed manual, but haven't been able to yet).

cooljw · October 2004

The Toyota dealer I went to said the certified used car lot is for suckers who think they can buy a slightly used car for a good price - and don't do their research. You'll find dealer used car prices consistently priced above new car prices.

I've not tried, but I wonder how much haggling you can do on the used cars.

sqisme · October 2004

I tried haggling. He went down from sticker ($15950) to $13,960. Still not low enough for me to buy a car that I really wasn't crazy about, when I could get pretty much the exact car I wanted, new, for 15-20% more.

macedon · October 2004

I know how you feel about the prices of recent model used cars. Supposedly, the minute you drive the car off the lot it depreciates a lot. Well why don't the salespeople price that way??

I also find no sense in buying a 2004 when it is not much cheaper than a 2005.

indigorolla · October 2004

Hello Prism3,

The only options I have on my Corolla LE are all weather package, floor mats, engine immobilizer,and audio value package which includes cruise control came standard with all the LE's from my dealership. I didn't get the ABS because it only came packaged with leather interior,moonroof,and side air bags and was way out of my budget. The only option that I purchased al la carte was the Indentity security system. It prevents the engine from starting even if someone does have your master key they must also have the indentity key fob. The indentity key fob is automatically detected by your car as you approach it and enables the start up of your vehicle.

Hope this helps

macedon · October 2004

I'm in NY and have a hold for a 2005 Toyota Corolla LE with
-Automatic
-ABS
-Side Airbags...
-All Weather Guard
-VV Audio Value PKG
-Carpet Mats

for $15,700 to be completed in two days.

I was very happy with this but now see that Consumer Reports offers a 'Wholesale Report price'.

Should I get the report hoping to get it lower or is my deal good. I've been reading the forum while pricing my car and really thought it was great....If I see the report, I know I'll feel lousy...

Answer asap since it's almost a done deal...Thanks

What should I do???

jecasaz · October 2004

Can some of you Corolla experts give me some guidance? Helping my daughter shop for a car and she really likes a 2002 Corolla S we saw at a Toyota dealer in CT. Has 36,500 miles and they want $12,995. It's a 5 spd, sun roof, a/c, pwr windows, alloy wheels, gold lettering (for whatever that's worth), CD, dual air bags, cruise. Comes with remainder of 6 yr/100,000 power train warranty. Dealer isn't willing to budge. Kelly BB tells me it should be about $11,700. Which price is more realistic, dealer or KBB? Please advice. Thanks.

cooljw · October 2004

Carsdirect says the Invoice Price on that car is $16,107 ($17,607 MSRP). So $15,700 is $400 under invoice, which is a GOOD deal (including holdback, the dealer will still lose about $50 on the deal). Is the dealer still offering the $500 rebate from Toyota? (supposed to have expired 10/4, but may be continued). If so, that will bring the price to $900 under invoice, which is a GREAT deal. Never tried the ConsumerReports thing, but I don't think it's very valuable. Just use the invoice pricing - holdback as a benchmark. There are no dealer incentives at this time that I'm aware of.

gasman · October 2004

I'm shopping the same car in NY. This looks like a good price. The dealers I've spoken with so far are quoting 400-500 above invoice. Your price is about 250 below invoice.

What dealer is it?

bobotheclown · October 2004

Post the car info in the Real-World Trade-In Values topic and see if Terry or one of the other guys can give you a good estimate on the price.

macedon · October 2004

I have not seen anything about a $500 rebate. That'd be great but think it may be over.

They have reinstituted the low apr so that probably replaced the rebate.

If anyone has word on the rebate, I would appreciate the information.

Thanks for everybody's input. I thought it was good but got second thoughts...Never bought a new car before...

jecasaz · October 2004

Thanks Bobo. I'll try that.

prism3 · October 2004

Bought a 2005 silver streak mica Corolla LE , AT , with ABS brakes, cruise control, front airbags, side curtain airbags, 6 -CD player, All weather guard, Floor mats.
$16,450
77.48 B&O Tax
1437.89 Sales tax
68.25 license
35.00 documentation fee
Total out the door
$18,068.62
I am not a strong haggler but I started at invoice and held firm when I got to my "goal"

macedon · October 2004

Okay, the salesperson was full of it and did not honor his oral agreement for $15,7 as reported earlier.

Bought car today, from another dealer for $16,000 (plus tax, title)

2005 Corolla LE
ABS
Audio Value Pkg (VV)
Side curtain (BE)
All weather Guard
Carpet Mats
(same as above but may have left something out).

The car had 156 miles so figure that was worth getting it under invoice. Though my sister is really digging into me for buying a new car w/156 miles.

What is your opinion of 156 miles vs. 300-400 dollars saved...? It is my first new car purchase and the first dealer really knocked me for a loop...I was just so happy to get it under invoice...(Forgot that I had an offer of $16,1 but don't know the mileage on that one so who knows...)

Thanks, this forum has been very helpful to me even though I may have made a gigantic goof.

gasman · October 2004

For the record, I got exactly the same deal from another dealer on Long Island.

Most dealers were quoting 3-400 over invoice. I got a price quoted to me from Fitzgerald in MD (www.fitzmall.com) which was about 700 under invoice, but included a $500 rebate. I used that to start the negotiating by saying make it worth my while not to go to Maryland to get the car! The dealer closest to my home bit and I took the deal.

This whole process makes me sick. I hope it's a long time before I have to do it again.

teerock · October 2004

Bought the car today from a dealer in Deerfield Beach, Florida

Corolla S (MSRP: $16,817.41 Invoice $15,239(from KBB))

I paid $14,900 but I almost had to drive away twice from the dealership. I went in 2hrs before they closed on a SLOW Sunday, which probably helped me.

My car only had two options:
- 6 disc changer
- Enhanced Power Package (power windows and cruise control

I also own a Lexus IS300. This Toyota S is an incredible car. Good Luck!!

lee_w · October 2004

COngrats on your purchase. Glad the board was helpful. Just having information and tips from other people is a tremendous advantage when shopping. Congrats again!

sandman46 · October 2004

Have bought a Camry from the same dealership back in '95. Not a pleasant experience, but I did hit my price goal, so took the deal. Also bought on a sunday. The paperwork took like forever, and they didn't quite understand the word "NO" when they kept pressuring me for add-ons.
Did love the '96 Camry though! Since I live out west, was a far trek, but the Coconut Creek dealer was even worse!

The Sandman :-)

basu · October 2004

macedon,
I am from NY, long island and thinking about shopping for the same car you just bought. Could you give the dealar's name you shopped for and your suggesstion about which one to go with.

macedon · October 2004

Send me an email and I'll be happy to tell you.

This car better last forever. I had a nightmare of a time with Toyota dealers. The $15,7 guy was so unconscionable that I was compelled to file complaints with everybody and anybody, as well as friends. Word of mouth. Though I was warned about that dealership previously, as long as they honored the price I had no problem with them. But due to the warnings, I continued to shop for a back-up plan. Thank goodness.

This new car is replacing a 1990 Toyota Celica ST with over 224,000 miles. But I doubt I'll get that kind performance from the Corolla. The Celica will be donated somewhere later this week. Probably 'songsforlove'; their ad said they were in Good Housekeeping, on Rosie O'D's show and others so they seem more legit than the other ads.

macedon · October 2004

Good luck basu. I don't envy your shopping experience. Mine was a nightmare!!!

I am advising sister and brother to go to MD to visit fitzmall.com . I am so intrigued to find out if they are too good to be true. It is a hassle to go out of state but if I never had to deal w/another buying nightmare, it would be worth it.

I am dedicated to Toyota-- and I'd have to be to endure the hell of the Long Island dealerships. It would be nice to know that my next purchase, years from now, will be trouble free.

fitzmall stated that they are the ONLY dealer to receive the ISO for the way they do business. Not sure if that is just for the region or not but it reads as if for all regions. Not sure what ISO is but it must be very special.

If anyone has purchased from them, either on the internet or in perons, please let me know how it went. (I'd want to go in person).

macedon · October 2004

Unable to edit my post above. But reading more about the waste tire fee, the dealer is exempt but the purchaser pays unless they are exempt.

The link I had above was just a form for the dealer. There is an explanatory bulletin explaining it further.

I guess this shows how much I hate my car dealership!!!

Sorry for the useless post above. Perhpas the host can get it deleted.

lee_w · October 2004

I took it out per your request. Have a good weekend!

teddy1 · October 2004

I wonder if Edmunds TMV pricing is accurate.
I paid $13,000+195(document fee) for an 05 corolla ce, 5spd, +mats, +weather guard.
The document fee of ~200 seems standard at all dealers I went to.
Edmunds says the invoice on this is $13305 and the TMV is $13863. I am not sure if this includes the ~200$ dealer document fee.
How did I do so well? I worked a couple dealers off each other but did not try too hard. Anybody else finding TMV too high?

By the way, I just noticed that if I go to the dealers web site and kill the window a $100 coupon (in addition to final negotiation) pops up. Wish I had seen this before. Give it a try for your dealer.

modestmouse · October 2004

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.

modestmouse · October 2004

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

cooljw · October 2004

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.

modestmouse · October 2004

[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

ghulet · October 2004

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.

murray4 · October 2004

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.

cooljw · October 2004

[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.

modestmouse · October 2004

[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!

pcharpe · October 2004

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?

fl101 · October 2004

Can anyone tell me what is the purchase price in tampabay area? Thanks.

modestmouse · October 2004

I just put a $100 deposit on my factory order. My car should be here in 6-8 weeks.

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

mchip · November 2004

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

pdqqdp · November 2004

"out the door" means what ?
price w/o any tax &/or license ?
please advise.

mchip · November 2004

OUt the door means with tax ,title and registration.
Baseprice with options + tax + title + registration.
Is 15400 a good price?

Kirstie_H · November 2004

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

mchip · November 2004

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?

hoody · November 2004

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_H · November 2004

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

nw1997 · November 2004

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

mchip · November 2004

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!

2003-2008 Toyota Corolla Prices Paid and Buying Experience

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