I neglected to thank you for looking into the prices others have paid for the XLE V6. I appreciate your taking the effort, and though I'm happy with my overall experience, I would have been interested in what your "investigation" revealed. Perhaps the next car.
Hi, I'm in arkansas, but the offer is from memphis. I'm not sure what the TDA fee is? He never broke down the quote, he just said it is an OTD price. Edmunds has these prices for me,with just mats as an option. MSRP$21,594 invoice $19,338 TMV$21,313, Thanks Don
I'm curious to know what specific information should a person ask for when buying a car out of state. So lets say I plan to buy a Camry out of state and the dealer can get what I want for the price I want to pay. More than likely they are going to require a deposit to hold the vehicle so one could make arrangements to go and pick up the vehicle. So what information should one ask for?
VIN number vehicle mileage If being shipped from somewhere else (another dealer) ask how far away the dealer is or maybe the other dealers name? Should one request in writing that if the vehicle isn't what they say it is (color, mileage etc...) that they want a full refund?
What other information should one get? Any other pertinent information would be appreciated.
I'm not sure what the TDA fee is? He never broke down the quote, he just said it is an OTD price. Edmunds has these prices for me,with just mats as an option. MSRP$21,594 invoice $19,338 TMV$21,313
Well the TDA fee is an advertising fee charged to the dealers from Toyota. It is a legit fee that does not show up in Edmunds invoice. It will show up in Toyotas invoice and that is why it is always higher than Edmunds. It varies from place to place. Here in California it is about $300 I think. Some places are more.
Your deal looks to me to be about $500 over invoice but there may be something I am missing. I think you could get a car for just about invoice but I don't know how much dealers are willing to haggle in your area. One of the few things I like about Southern California is we have over 50 Toyota dealers in driving distance. My best opinion of your deal, without being able to see everything, is that you are not getting a great deal but then again it is not horrible either. The most important thing is you are happy with it and feel comfortable.
I'd make sure you knew the manufactured date, so you can determine whether you'll need the TSB for transmission if an I4, or if it is old enough V6 a problem with SnapRing on the transmission.
well, the price I posted right above your orignal post just happens to be on an out of state purchase. I had them give me the Vehicle Inquiry Report. It lists VIN, Invoice Date(build date), ship date, where it was built, every inmaginable detail about everything on this car and what MSRP, VIN, accessory codes, color, etc, etc. They wrote the OTD price on that and then provided a Purchase Order which shows the matching VIN and the final price.
They pulled the Vehicle Inquiry report off a website that looks like a standard toyo deler site.
I don't know what you mean. I used others posted OTD(among other things) to gauge what I should pay. I am providing the same info to others, so how does OTD only matter to the buyer?
OTD pricing is a good number for an individual purchaser, to compare each of the dealer offers. This final number, takes into consideration any additional administrative or junk fees that an individual dealer might add on. It also obviously includes title/tax/and license. It's the best way for YOU to compare on an apples to apples comparison each of your offers.
However when you post an OTD price, it is not very usable in comparison across the US or other geographies, since countries, states, and counties all have different tax rates and licensing charges. Any reader of this board has no idea what your tax structure is. So your 22,699 might be a great deal where you are at.......but a lousy deal where I am at.
To be most helpful to others, one would want to know the MSRP of your vehicle, the final negotiated charge for the car, and then the addon's to get you to your final OTD price (eg. +doc fee 499, +tax 1302, +title/license 99, -trade value). If one only knows the OTD final price, it is interesting, but not very useful for anyone else.
Wvgasguy, the wheels I have are 16 x 7 Helos (He832). Though they're quite a change from the stock wheels - I needed my shades to look at them! :shades: - I'm really pleased with how they look.
Dreasdad, I'm going in to the dealer on Tuesday to have the Sirius Satellite installed. I'm taking the fact that they made the appointment for me as a good sign that the harness and receiver are available. I'll find out come Tuesday!
ok, I see your point. I guess I wasn't giving true OTD price then. I was simply giving the price of the car from the dealer becasue thats the onl relevnat price for others. I didn't include tag, title tax because as you mentioned that is different accross the country.
Cool. I looked them up. I believe I like the HE825 and HE883 styles. I'll probably end up with a set of 5 spokes eventually as that's what I really like. Something that flares out towards the outer edge of the wheel.
There seems to be a lot of repeat messages about whether a fair price is paid for the car. Because of the many variables across locations, here's some general guidelines for comparing:
Calculate dealer invoice
Base Car Price + Dealer Holdback (2% of MSRP) + Wholesale Fin Reserve (1% of MSRP) + TDA (Advertising - varies by region) + Gas (Optional - varies by region) + Destination (varies by region) + Options ================== = Dealer Invoice
For example, XLE V6 with floomats in California breaks down to this:
23925 - Base Car + 556 - Holdback (2% of 27820) + 278 - Reserve (1% of 27820) + 299 - TDA (California) + 10 - Gas + 620 - Destination + 126 - Options (CF - Floormats) ================== 25814 - Dealer Invoice
* Note that Edmunds.com quotes the National base price invoice as (Car + Holdback + Reserve). The Total with options invoice price is (National base price + Destination + Options)
Get a baseline quote
Go to a dealer using Costco or AAA and get a quote for the exact car you've priced out above. Costco rules state that they are obligated to show you the invoice price (which should match the Dealer invoice above exactly), and the amount of spread - this varies by car and can vary from dealer to dealer; for purpose of example, we'll use $500 above invoice for the XLE V6.
Note that if they were to sell at invoice, their profit would still be $834.
This formula does not take into account any special dealer incentives.
Determine your price point
Your price point objective is to minimize dealer profit. There's no way you're going to get it at dealer cost (26314-1334 = 24980) since they're in business to make money, unless it's a hard to sell car, or they're really desperate to meet quota. Most dealers won't even consider infringing on the holdback margin, so that leaves the financial reserve and spread open to negotiation. In other words, the sweet spot should be somewhere between:
26314 - Costco Price 25536 - Costco Price minus reserve and spread
Get Competitive Bids
Now send emails to every dealer within a days journey. Armed with this information, you should be able to pit them against each other and know exactly how much wiggle room they have. Under no circumstance should you ever pay above the Costco/AAA price.
Of course other variables come into play, such as the demand for the car. And of course this applies to out the door cash deals only, because if you're doing a trade-in or financing through the dealer, they may give you a great price on the Camry, only to screw you on the trade or financing.
Thanks, and i beleive "That's the idea." We need to help each other, although i did not buy my camry yet; the only reason that is holding me is the "transmission issues that you see people speaking about on Yahoo, MSN, AOL, etc. just check their web sites. However, i am willing to wait a couple of months to see is that hanges. My point is the following: although i admit tha the new camry looks great/ and has all the new stuff (ebd, ba, 4 discs, mp3, more airbags, etc, etc) you can get a decent deal for a honda accord today for $1000 below invoice) and a better financing option. Now the only thing that has me i between them is the shape of the camry; but as far as i know, the honda accord continues to be the best car in Aerica. those are the only cars that you will see running with more than 300000 miles, with no major mechanical probles, has the best re-sale value, and any dealer will pay just as much for your car as anyone off the street. Like i said it is just about the body.
I have to admit the transmission issue bothers me too. It is one reason I keep holding off buying a new Camry. I would buy a Honda, because I have always had great luck with them, but my wife does not like them. The only problem I have with the Accord is it is the last year of this body style. The good thing is it is great car and maybe Honda will have some of the same type problems with the new design.
I agree with al what you just said. At first i was just dreaming with the Accord, until the camry showed up. But again even the 06 altima will be good at this pointyou can get it for 2500 below invoice, that's a deal. The only issue is the following it is not a honda or toyota, its an 06 model (but still a new car). I heard the car is good. I think is smaller, and with the depreciation for being a 06 model (which is the 2500 below invoice) i don;t know. to top it off, it will lose its value even more, once it becomes part of GMC. With all my respects to americcan cars they are the worst. I drive a lot of american cars (due to my work duties) and even when they are new, or only 10-50k miles they have so many issues that you don't want that either
You also had a major Recall on the 2006 Altima affecting 85,000 units. Dealers where even instructed to stop sellling the Altima until the ones in stock could be fixed. This is also why you can buy it for 2,500 back of invoice after the incentives.
Right now it seems difficult to get Camry below Invoice though some people seem to have got it! Do you suppose the prices will come down in a couple of months.
Camry '07 model was introduced in March '06. Is there a '08 model due?
I think the sales of Accord were affected by the '07 Camry. When is the new '08 Accord rolling off. Hopefully it will affect '07 Camry prices.
A dealer told me that Toyota is actually raising prices by 0.9% in 2007. Take this as rumor.
BTW: There's about $800 of profit for the dealer at invoice - $300 of which is negotiable. See my thread above on "How to get a fair deal". My guess is that most people who get it below invoice also have either a trade-in or financing.
I have a question about test-drive. Generally, the dealer makes a copy of my DL before test-drive. But what if I am involved in an accident or get a scratch for the new car?
Although such chance is slim, but it does exist, if so, am I responsible for it? I doubt my insurance would cover such accident since it is not a rental company and no contract...
Wvgasguy, I looked up the wheels you mentioned and they're really nice. You've got very good taste. :-)
I had the windows tinted yesterday, and the combination of the windows (I went 20% all around), the silver of the car, and the chrome wheels, well ... I'm really likin' it.
Dreasdad, I had the Satellite installed today, and though I won't officially register it until tomorrow (I need to get the ESN or SID from the dealer where it was installed), it would appear that the harness and receiver are now available ... at least in my area. :-) I'm so diggin' my car! In addition to reading the manual(s) every chance I get, I've been navigating myself all OVER the place. I attended a function nearly 130 miles away on Saturday, and it definitely came in handy.
And after getting my satellite installed today (about 40 miles from where I live), I navigated myself to a nearby Trader Joe's. While there, I noticed that across the street there was a cute little pizza place. Since I've been looking for opportunities to maximize my familiarity with as many of the cool features offered by the navigation system as possible (plus I was hungry!), I went to the POI Category screen, narrowed it down to local Italian restaurants, got the name/phone number in the system, and, presto! I ordered myself some tasty pizza, right then and there from my car. I thought that was very cool. :-)
Breaking in the engine has been the most challenging aspect of this, so far. I've been doing my best to vary the RPMs, and not go over 60-65 MPH (I won't even mention how difficult this is when driving on the freeway! People are passin' me left and right, and if it weren't for my tinted windows, I'm sure I'd be able to see a few birds being flipped in my direction.) Maybe I'm putting too much into it - perhaps it doesn't really matter with newer engines - but I want to do all that I can to insure that my engine has a good start ... to a very long life.
I'm still perusing the forums - there's a lot of information on the Edmunds/Car Space boards pertaining to all aspects of the car experience - and I know that if/when I've got questions/concerns, I'll have a place to get help ... and in the meantime, I will continue to educate myself.
It is definitely possible to purchase a Camry under invoice. I just bought my son (his first car!) a white Camry LE for 18,200 (with a spoiler!) through internet/fleet pricing.
The Camry was purchased at Penske Toyota in Downey California through Carsdirect.com
12/14/2006 Torrance, CA December 15, 2006 – Torrance, CA - Toyota Motor Sales (TMS), U.S.A., Inc., announced new manufacturer's suggested retail prices (MSRP) today for seven models in its Toyota vehicle lineup.
The price adjustment for the seven models reflects an average MSRP increase of $136, or 0.7 percent. Toyota models, and their average MSRP increase, include: the Yaris subcompact sedan and hatchback, $100 or 0.8 percent; the Corolla compact sedan, $100 or 0.6 percent; the FJ Cruiser sport utility vehicle (SUV), $200 or 0.9 percent; the Matrix crossover utility vehicle, $150 or 0.9 percent; the Camry mid-size sedan (excluding the hybrid version), $200 or 0.9 percent; the RAV4 compact SUV, $100 or 0.4 percent; and the Tacoma pickup truck, $100 or 0.5 percent.
For models sourced from Japan, updated pricing will be effective with vessels arriving on or after January 15, 2007. For models sourced from North America, new pricing will apply to vehicles built on or after January 15, 2007.
Just got a Camry SE V6, Leather/heated seats, tinted windows, mats, trunk mat, garage door opener, JBL, Sunroof, spoiler. OTD $26000!!!
Oh, I have a extra set of mats and trunk mat in ash for sale. Did not know the dealer was going to give me the mats, so I bought some online. Looking for $125 shipped. Email at tranlau1@hotmail.com.
In Texas insurance follows the vehicle, not the driver. Unless the dealer has you sign a waiver stating your insurance covers the loss, then the dealer carrier would be responsible if you were at fault. However, even if you are not at fault the dealer can come back against your policy for damage sustained to their auto as you were driving their personal property regardless of fault.
There are many factors that vary on situations on who would actually cover the loss.
I am planning to buy my first car in couple of weeks and really afraid of getting cheated on the price. Please forgive my igorence but can anyone give me a rough idea of the offer I should make to dealer for 07 Toyota Camry SE automatic without any options.
I negotiated 1% over dealer invoice for a TCH fully loaded (NV, SR, LA, FE, CQ and floor mats). It's being built and will be here in two to four months.
Comments
I neglected to thank you for looking into the prices others have paid for the XLE V6. I appreciate your taking the effort, and though I'm happy with my overall experience, I would have been interested in what your "investigation" revealed. Perhaps the next car.
Thank you very much!
Catherine
I'm in arkansas, but the offer is from memphis.
I'm not sure what the TDA fee is?
He never broke down the quote, he just said it is an OTD price.
Edmunds has these prices for me,with just mats as an option. MSRP$21,594
invoice $19,338 TMV$21,313,
Thanks
Don
My mom just purchased a desert sand, Camry LE, on Saturday, December 26th in Chesepeake, VA. She added the following options:
Leather Interior
Remote Starter
Security Alarm
I think she got a pretty good deal.
SE 4cyl
moonroof
JBL stereo
spoiler
Floor mats
applique
$22,699 otd
Might have done better, but I can live with that....
VIN number
vehicle mileage
If being shipped from somewhere else (another dealer) ask how far away the dealer is or maybe the other dealers name?
Should one request in writing that if the vehicle isn't what they say it is (color, mileage etc...) that they want a full refund?
What other information should one get? Any other pertinent information would be appreciated.
Thanks
He never broke down the quote, he just said it is an OTD price.
Edmunds has these prices for me,with just mats as an option. MSRP$21,594
invoice $19,338 TMV$21,313
Well the TDA fee is an advertising fee charged to the dealers from Toyota. It is a legit fee that does not show up in Edmunds invoice. It will show up in Toyotas invoice and that is why it is always higher than Edmunds. It varies from place to place. Here in California it is about $300 I think. Some places are more.
Your deal looks to me to be about $500 over invoice but there may be something I am missing. I think you could get a car for just about invoice but I don't know how much dealers are willing to haggle in your area. One of the few things I like about Southern California is we have over 50 Toyota dealers in driving distance. My best opinion of your deal, without being able to see everything, is that you are not getting a great deal but then again it is not horrible either. The most important thing is you are happy with it and feel comfortable.
They pulled the Vehicle Inquiry report off a website that looks like a standard toyo deler site.
OTD pricing is a good number for an individual purchaser, to compare each of the dealer offers. This final number, takes into consideration any additional administrative or junk fees that an individual dealer might add on. It also obviously includes title/tax/and license. It's the best way for YOU to compare on an apples to apples comparison each of your offers.
However when you post an OTD price, it is not very usable in comparison across the US or other geographies, since countries, states, and counties all have different tax rates and licensing charges. Any reader of this board has no idea what your tax structure is. So your 22,699 might be a great deal where you are at.......but a lousy deal where I am at.
To be most helpful to others, one would want to know the MSRP of your vehicle, the final negotiated charge for the car, and then the addon's to get you to your final OTD price (eg. +doc fee 499, +tax 1302, +title/license 99, -trade value). If one only knows the OTD final price, it is interesting, but not very useful for anyone else.
Dreasdad, I'm going in to the dealer on Tuesday to have the Sirius Satellite installed. I'm taking the fact that they made the appointment for me as a good sign that the harness and receiver are available. I'll find out come Tuesday!
Catherine
Calculate dealer invoice
Base Car Price
+ Dealer Holdback (2% of MSRP)
+ Wholesale Fin Reserve (1% of MSRP)
+ TDA (Advertising - varies by region)
+ Gas (Optional - varies by region)
+ Destination (varies by region)
+ Options
==================
= Dealer Invoice
For example, XLE V6 with floomats in California breaks down to this:
23925 - Base Car
+ 556 - Holdback (2% of 27820)
+ 278 - Reserve (1% of 27820)
+ 299 - TDA (California)
+ 10 - Gas
+ 620 - Destination
+ 126 - Options (CF - Floormats)
==================
25814 - Dealer Invoice
* Note that Edmunds.com quotes the National base price invoice as (Car + Holdback + Reserve). The Total with options invoice price is (National base price + Destination + Options)
Get a baseline quote
Go to a dealer using Costco or AAA and get a quote for the exact car you've priced out above. Costco rules state that they are obligated to show you the invoice price (which should match the Dealer invoice above exactly), and the amount of spread - this varies by car and can vary from dealer to dealer; for purpose of example, we'll use $500 above invoice for the XLE V6.
Costco Pricing:
25814 - Invoice
500 - Spread
==================
26314 - Costco Price
Calculate Dealer Profit
The dealer profit comes from the holdback, financial reserve, and spread. In this case it would be:
556 - Holdback
278 - Reserve
500 - Costco spread
==================
1334 - Dealer Profit
Note that if they were to sell at invoice, their profit would still be $834.
This formula does not take into account any special dealer incentives.
Determine your price point
Your price point objective is to minimize dealer profit. There's no way you're going to get it at dealer cost (26314-1334 = 24980) since they're in business to make money, unless it's a hard to sell car, or they're really desperate to meet quota. Most dealers won't even consider infringing on the holdback margin, so that leaves the financial reserve and spread open to negotiation. In other words, the sweet spot should be somewhere between:
26314 - Costco Price
25536 - Costco Price minus reserve and spread
Get Competitive Bids
Now send emails to every dealer within a days journey. Armed with this information, you should be able to pit them against each other and know exactly how much wiggle room they have. Under no circumstance should you ever pay above the Costco/AAA price.
Of course other variables come into play, such as the demand for the car. And of course this applies to out the door cash deals only, because if you're doing a trade-in or financing through the dealer, they may give you a great price on the Camry, only to screw you on the trade or financing.
The price from the dealer in MD looks good - will print it and take it to my dealer.
thanks
Steve
This is also why you can buy it for 2,500 back of invoice after the incentives.
Wow... now thats a great deal.
Sound like the dealer wanted to reduce inventory and raise last year numbers.
How can they make any money on a deal like that... even with hold backs and bonuses.
Good job.
Gampa
Camry '07 model was introduced in March '06. Is there a '08 model due?
I think the sales of Accord were affected by the '07 Camry. When is the new '08 Accord rolling off. Hopefully it will affect '07 Camry prices.
BTW: There's about $800 of profit for the dealer at invoice - $300 of which is negotiable. See my thread above on "How to get a fair deal". My guess is that most people who get it below invoice also have either a trade-in or financing.
Although such chance is slim, but it does exist, if so, am I responsible for it? I doubt my insurance would cover such accident since it is not a rental company and no contract...
Thanks for your reply
I had the windows tinted yesterday, and the combination of the windows (I went 20% all around), the silver of the car, and the chrome wheels, well ... I'm really likin' it.
Dreasdad, I had the Satellite installed today, and though I won't officially register it until tomorrow (I need to get the ESN or SID from the dealer where it was installed), it would appear that the harness and receiver are now available ... at least in my area. :-)
I'm so diggin' my car! In addition to reading the manual(s) every chance I get, I've been navigating myself all OVER the place. I attended a function nearly 130 miles away on Saturday, and it definitely came in handy.
And after getting my satellite installed today (about 40 miles from where I live), I navigated myself to a nearby Trader Joe's. While there, I noticed that across the street there was a cute little pizza place. Since I've been looking for opportunities to maximize my familiarity with as many of the cool features offered by the navigation system as possible (plus I was hungry!), I went to the POI Category screen, narrowed it down to local Italian restaurants, got the name/phone number in the system, and, presto! I ordered myself some tasty pizza, right then and there from my car. I thought that was very cool. :-)
Breaking in the engine has been the most challenging aspect of this, so far. I've been doing my best to vary the RPMs, and not go over 60-65 MPH (I won't even mention how difficult this is when driving on the freeway! People are passin' me left and right, and if it weren't for my tinted windows, I'm sure I'd be able to see a few birds being flipped in my direction.)
I'm still perusing the forums - there's a lot of information on the Edmunds/Car Space boards pertaining to all aspects of the car experience - and I know that if/when I've got questions/concerns, I'll have a place to get help ... and in the meantime, I will continue to educate myself.
Sincerely,
Catherine
LE Titanium Metallic
with floor mats
19650 +ttl.
I will have to drive 2 hours to pick it up but it is about $400 cheaper than the dealers nearby.
.
That's the beauty of having the Navigation System ... there are many ways to avail oneself of its many features. :-)
Great pics, btw!
Catherine
The Camry was purchased at Penske Toyota in Downey California through Carsdirect.com
December 15, 2006 – Torrance, CA - Toyota Motor Sales (TMS), U.S.A., Inc., announced new manufacturer's suggested retail prices (MSRP) today for seven models in its Toyota vehicle lineup.
The price adjustment for the seven models reflects an average MSRP increase of $136, or 0.7 percent. Toyota models, and their average MSRP increase, include: the Yaris subcompact sedan and hatchback, $100 or 0.8 percent; the Corolla compact sedan, $100 or 0.6 percent; the FJ Cruiser sport utility vehicle (SUV), $200 or 0.9 percent; the Matrix crossover utility vehicle, $150 or 0.9 percent; the Camry mid-size sedan (excluding the hybrid version), $200 or 0.9 percent; the RAV4 compact SUV, $100 or 0.4 percent; and the Tacoma pickup truck, $100 or 0.5 percent.
For models sourced from Japan, updated pricing will be effective with vessels arriving on or after January 15, 2007. For models sourced from North America, new pricing will apply to vehicles built on or after January 15, 2007.
---------------------------------------------------------------------------------
Oh, I have a extra set of mats and trunk mat in ash for sale. Did not know the dealer was going to give me the mats, so I bought some online. Looking for $125 shipped. Email at tranlau1@hotmail.com.
In Texas insurance follows the vehicle, not the driver. Unless the dealer has you sign a waiver stating your insurance covers the loss, then the dealer carrier would be responsible if you were at fault. However, even if you are not at fault the dealer can come back against your policy for damage sustained to their auto as you were driving their personal property regardless of fault.
There are many factors that vary on situations on who would actually cover the loss.
I am planning to buy my first car in couple of weeks and really afraid of getting cheated on the price. Please forgive my igorence but can anyone give me a rough idea of the offer I should make to dealer for 07 Toyota Camry SE automatic without any options.
Thanks in advance
Nitesh