Help me out with this quote on 2015 Corolla S Premium please

vietrice12

For a new 2015 S premium in Los Angeles county, California. Longo Toyota offers me $22,453 + tax $2,027 + fee $364. Otd is $24,845. My rate would be 0.9% 60 months and i plan to down $3,000 or $5,000.
Also, toyota website shows Local offer $500 cashback with 2 years ToyotaCare.
How much lower can I bargain? Please help me out.

Clint

There are two quick ways to check this price.

First, go to True Car and determine the TC price. Deduct $300 from that price, which is the fee TC charges dealers for sales through the TC site. Use this is the maximum you will pay. Do not buy through TC as you will have to pay the $300.

Second, using Edmunds, take the invoice price, less holdback, less any incentives both to the dealer and to the customer. Add a small profit, say 3 percent. Compare this price estimate to TC and to the dealer's offer.

One note, if the dealer's price is lower than the price you computed in the second method, it probably means there is an unpublished dealer incentive of some kind. You can ask the dealer if there is such an incentive. If this is the case, adjust your price.

Finally, ask the dealer about the $364 fee. This is likely the document or dealer fee. These are not fees, they are simply the price divided into two parts which are price and fee. Tell the dealer any such fake fees are included in your price offer. The only true fees, the ones you must pay, are those imposed by the state such as registration and tax. Any other fee is simply a profit grab by the dealer.

With any vehicle purchase, particularly on a mass market vehicle like the Corolla, you are in control of the deal. At any time, use your feet, your best negotiation tool. Often dealers will not reveal their best price until they believe the buyer is walking away.

If, for any reason, you do not like the deal walk away. There is always another dealer who wants your business.

And remember, it is always best to say NO to any product offered by the dealer's F&I sales person. All those products are vastly overpriced, of dubious value, and usually available elsewhere for a lot less money.