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2004-2009 Toyota Prius Prices Paid and Buying Experience
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When our second car goes back in May we hope to get an additional Prius. At 471/2 miles per gallon we are very happy.
Does anyone have recent prices paid on the '07 Prius Touring edition for (package 2 or 3) in the Washington DC area. Its hard to find prices on the touring edition, and i just wanted to know what the going rates were. Thanks.
Touring($23,070)
Pkg #6 ($5,925)
Carpet Floor/Car Mat ($199)
Rear Bumper Applique ($65)
Delivery ($620)
TOTAL ($29,879)
INVOICE ($26,768)
NEGOTIATED PRICE ($27,095) a $327.00 difference
First they tried to add a $249.00 "service prep" fee - I said "no".
I also had a 2001 Toyota Rav-4 in "good" condition that Kelly Blue Book had valued at $9,300
They offered me $7,000 - I told them that price was the best April Fools joke of the day, they upped it to $7,500. I told them I would go to Keyes Toyota in Van Nuys, they upped it to $8,000 - When I was packing up and getting ready to leave, they upped it to $8,500 - I told them "the difference between $8,500 and $9,300 is $700 and I would rather sell it to a private party", another manager took over and "magically" upped it to $9,000. That's where we closed.
I then informed them I would like to lease. I have Tier 1+ credit and they gave me the .00113 rate (2.7%) for 36 months using the $9,000 down at 12,000 miles per year.
*****Here's the problem*****
Reading these boards, the residual rates were anywhere from 57% to 53% - the BEST they said Toyota Financing was offering with this package was $14,550 (49%) - Again I threatened to walk but the head of the dealership (a British guy) brought out the numbers of every single vehicle he had in stock and the Toyota bank rates. He told me "Go through it all if you like". Which I did and found that indeed for 36 months Toyota was offering only 49% which DOES go against what CarMan said here. (though reply #37 stated that #6 package was $14,040...?)
(note: they ALSO tried to include GAP INSURANCE which I said "get rid of that NOW!... and they did... but they tried...)
The difference between 49% and 53% is $37.09 (x 36 months is $1,335) and 57% is a whopping 71.55 (x36 = $2,575)
Payments (after $1,689 in tax, title, acq fee) were $197.49
I guess they wore me down 'cause I'm sitting here feeling a little taken - I should have walked and had them call me the next day after I had done some more research.
I guess the saving grace is that if the vehicle IS worth 57% in 3 years ($17,031), then I have equity in it and could make the difference of $2,481 back then.
Lesson learned.
If this is confusing, hopefully CarMan can put it in Laymans Terms!
Love these forums - hope it helps.
Oh, love the car
Actual PRICE seems good as touring models are hard to locate people are saying.
"Regular models can be bought for "Edmunds.com invoice.
I always buy so lease data is VERY confusing to me.
The car itself is great fun.
Carl
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Send me PM I'll give you the info. We bought 2 phg #2 cars a month ago.
Carl
malibucarl@hotmail.com
I see some finance rates as low as 2.9%
Also, what is the tax credit amount for the Prius now?
Whan all was said and done, this cost us $22K and change to be financed, and it isnt that bad of a car either, I got two car seats back there with room for the 12 YO, I even fit back there, a bit tight, but doable. With about 100 miles on it so far, it reads 40.3 MPG, was up to 45 on the trip from the dealer, but it was really cold and windy yesterday. We are looking to be saving anywhere from 500-600 in fuel costs by using this as our to work commute car and carpooling together. I put on over 500 miles a week on, fuel was costing me between 80-100 depending on when I filled up, and with diesel going higher, I would be expecting to pay upwards of $117 a week. THe only drawback is going from an F350 Dually crewcab, with a nice large cabin, and power up the wazzoo, to this itty bitty car that you cant hear and doesnt really scoot, but then again our crown vic doesnt really scoot either, but it is roomy.
The incentives are on packages, they are going to be discounting packages to help sell them, but you wont get any special fianancing.
As I understand it you can purchase this warranty anytime before the 3/36000 warranty has expired.
Check to make sure.
Carl
New Packaged discounts for Prius as of April 3 2007
Effective April 3, 2007, Prius customers will receive discounts on available factory-installed option packages, except the base and Package #1 (HE) models.
Discounts on pricing for factory-installed option packages range from $600 to $2,000. Each package in the program offers safety features such as Vehicle Stability Control (VSC), backup camera, Smart Key system and audio system with MP3 capability and auxiliary port.
You also don't understand that potential deadbeats are not a dealer problem. Your credit record is accessed and evaluated moments after you enter a dealership if you are naive enough to provide them sufficient information to do so. If the finance entity that services the dealership approves the financing, whether or not the customer becomes a deadbeat, is of of no concern to the dealer. It's not their loss - they're not lending you any money - someone else is.
If cash is king, why do you think that every cash paying customer is pushed through the finance department and inundated with financing/lease alternatives even after the customer and sales person has concluded the purchase.
Bottom line? Cash is king all right .... at the flea market.
If you do some checking around with folks that really know the biz,you'll learn that the smart money is to keep the dealer in the dark regarding how you will pay for the vehicle; whether or not you intend to trade in any vehicle,
or purchase an extended warranty until you have firmly established a purchase price in WRITING.
Black? Guess it's different strokes for different folks!
It's interesting. Black is a popular color for many vehicles, but Toyota has met with buyer resistance for the Prius in black so they don't deliver a whole lot of them in black these days. They didn't know that initially when the vehicles were so scarce that customers would jump at any color as long as the package was close to what they could afford. Now with a surplus of these puppies at the dealerships, color is a bigger issue with potential customers and black is apparently the least favored color.
I buy vehicles only over the internet. I don't enter the dealership unless I am picking up the vehicle. I believe telling them I pay cash only helps the internet manager give me the best deal.
I've always liked black cars--albeit they are difficult to keep clean.
We rented a Prius in 05 to see if we liked them-it was Black. My wife thought it looked like a large "stink bug"
Needless to say our subsequent 3 Prius cars have not been black.
Carl
Financing rates below prevailing interest rates are not profitable, per se, but:
1. It is used co0nstructively by the dealers mitigate losses by moving vehicles off the floor that are not selling and for which the dealer is paying the OEM or an independent capital supplier, some mordida on the value of the floored vehicles.
2. Often, the sales price of the vehicle is upped somewhat to offset the loss differential between the financing rate and prevailing interest.
3. Too often, the finance interest is illusory because you will find that the low ball interest is predicated on "approved credit", i.e. a very high credit score. So, perversly, the low ball interest ends up being used by consumers with credit credentials that could afford to pay cash anyway. Those customers who don't qualify with a high credit score are offered credit, but at a significantly higher rate.
1. It's not as safe (visible) a color on the highway as some of the other colors. I think white has been tested as the most visible to other drivers. Personally, I think the Prius looks terrific in white, but their blues and the reds are easy on the eyes too.
2. It's a bear to keep looking clean as you mentioned.
3. It's an insufferable color if you are living in a hot sunny climate. People have had their eye glass frames (admittedly cheap ones) melt on the dashboards of black cars. The internal temps can rise above 150 degrees.
Needless to say our subsequent 3 Prius cars have not been black.
Say what? How many of these things do you own?
Any comment on whether I can drive my dream car out of the lot at this target price?
We bought 2 new Prius cars with Pkg #2 at the end of Feb. (Colors white and red).
Previously had a 2005 Prius (white).
We wanted another Prius to replace a Lexus 400 (1998). So checked around and was able to get a red one at the Edmunds invoice price of 22K. Now I took the 2005.
Liked the idea of VSC, and the 2007 in general SOOOOO got Edmunds trade-in #s for the 2005 (18.6K). Had to use another dealer but received that trade # and 22K for a second pkg#2 (white).
Both deals were very straight forward and complete verbally on internet and phone. Just one hour at dealer the next day for paper work.
The financing was great at the time.
Carl
2k discount, per Toyota, is off MSRP. Still ought to be able to buy the car around Edmunds.com invoice, $25.3K PLUS T/L, or a little less.
Check the Sacramento area as well.
Carl
Your finance scenario is pretty much a wash. You don't make money, but you don't lose either, assuming you are in a composite 20% tax bracket. Your interest rate is 4% and your money market return is 5%. But your finance interest is consumer in nature and not tax deductible and your money market interest is taxed at (I'm guessing) 20% making the net return of 4%. Now if you opt for a higher risk/reward investment, that's a different equation.
Edmunds TMV price (adding $450 for XM) was $28,645. MSRP was $30,050 with XM. I bought it on March 31, just in time to catch the $1575 tax credit before it dropped to $787.50. Looks like I got the April 3 incentive on Option 6. No pressure to buy the extended warranty.
I traded in a 1998 Camry, and my USAA Auto Insurance only increased $26.99 for the six month billing period.
Otherwise, I'm with you on your comments. From another "deadbeat".
I'm sure that many Prius models with option package 6 were sold in the last days of March, to take advantage of special financing and the larger tax credit. Has anyone who purchased in March actually received the incentive savings on options package 6, which wasn't announced publically until early April. I have to believe Toyota dealers knew this was coming. Norskeyman