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2003-2008 Toyota Corolla Prices Paid and Buying Experience

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Comments

  • bobw3bobw3 Member Posts: 2,989
    Ijust did a google search for toyota rebates and several hits show a $500 rebate for 2006 Corolla, not 2007, so they're probably trying to get the remaining 2006s off the lot.
  • bamacarbamacar Member Posts: 749
    In the Southeast region the $500 is for both 2006 and 2007 on LE and S models. It is $750 for CE models of both years.
  • dkarschdkarsch Member Posts: 72
    I called Toyota customer service this morning and inquired about any rebates on the 07 Corolla's. The rep. said that there are no rebates (other than the college grad one) being offered at this time in my region (Pennsylvania). I forgot to inquire about leftover 06 models.
  • corollashoppercorollashopper Member Posts: 7
    I ended up going with the 2007 LE.... added on the side curtain airbag package, cruise control, floor mats, and ABS breaks.

    We agreed on $16,200 before TT&L.... $17,400 out the door. Before the rebate I was willing to pay $16,600 for a car with those options....after we agreed on a price I ended up telling them I couldn't drive my car back home that I've used the last 5 years and they took another $400 off (more than the thing is worth to me)..... Final price $17,000 w/ TTL. I'm happy.
  • twltwl Member Posts: 19
    This sounds like a great price. What dealer and what state? Thanks.
  • corollashoppercorollashopper Member Posts: 7
    The big one in San Antonio
  • alamocityalamocity Member Posts: 680
    If I had to venture a guess that would be Universal Toyota?
  • corollashoppercorollashopper Member Posts: 7
    the guy that owned the vikings. i don't remember. i just wanted the car.
  • alamocityalamocity Member Posts: 680
    Well that would either be Red McCombs or Universal since he owns both.
  • dkarschdkarsch Member Posts: 72
    It appears that the rebate is being offered from Gulf States Toyota and not Toyota Motor Corp. Since Gulf States nickels and dimes everyone for all the extra fluff they automatically add onto the cars, maybe they are feeling bad and want to give some of that money back. :P
  • dkarschdkarsch Member Posts: 72
    That sounds like a good deal. What exactly were the option codes that you have on the car as it is easier to compute a price with the codes. I also assume an automatic transmission instead of a manual.
  • corollashoppercorollashopper Member Posts: 7
    I have no idea what the codes are 2007 LE - PLUS these addons.

    1. Audio Value Package 180 200
    Cruise control

    2. Anti-Lock Brakes 335 390
    Four-wheel antilock brakes
    Low tire pressure indicator

    3. Side Bolster + Curtain Shield Airbags 563 655
    Head Protection Air Bags, Front and Rear
    Air Bags, Side Impact Front

    4. Carpet Floor & Trunk Mats (PIO) (Fleet) 91 147
  • dkarschdkarsch Member Posts: 72
    With the options you listed and a base invoice price for an automatic LE of $14,674, assuming $580.00 delivery fee, your total invoice would be $16,423.00.

    You came in below that figure so good for you.

    I am settling on a 2007 LE this evening and will post the numbers in a few days.
  • bobw3bobw3 Member Posts: 2,989
    I went to a Toyota dealer and they showed me the Edmunds price and said that a fair selling price should be between invoice and MSRP. If Corolla is a fast selling car, why would a dealer sell it to anyone below invoice, if they know someone will be there tomorrow to buy it somewhere between invoice and MSRP? I'm just curious because so many people post on how they're paying below invoice and if that's what everyone pays, then dealers would go out of business! I can see on a Chevy or Ford dealers selling slow moving cars below invoice to reduce inventory, but around here at least, there are no 2006 Toyotas because they've been all sold last summer, and 2007 are going somewhere between invoice and MSRP. Or am I just naive!
  • dkarschdkarsch Member Posts: 72
    I just drove home my new 2007 Corolla LE and wanted to give you a breakdown. First I want to try and answer your question.

    If Corolla is a fast selling car, why would a dealer sell it to anyone below invoice

    Dealers have monthly sales quotas to meet so if you can find the right dealer, who needs sales to meet their monthly goals, they will give you a good price.

    I used the package from FightingChance.com and faxed specs on the vehicle I was looking for to the 15 closest dealerships. Eight responded with offer ranging from $15,500 to $16,250. All discussions were handled over the phone during a 36 hour period. I only went to the dealer to sign the paperwork. Below is a breakdown of my what my vehicle's pricing was. (invoice/MSRP)

    Corolla LE 14,674/16215
    All Weather(CK) 59/ 70
    Audio(VV) 180/ 200
    floor mats(Z1) 140/ 220
    Delivery 620/ 620
    Totals 15,673/17325

    The deal I accepted was $15,500 ($173 below invoice) plus TTL. OTD figure would have been $16,583.95. Since the vehicle didn't have alloy wheels, I paid to have the dealer order me alloys and mount and balance them. After tax this was an additional $645.54 which is more than ordering alloys from the factory but the extra cost was mounting and balancing.

    All thing said and done, I drove away with my new LE with alloy wheels for $17,229.49. I have to say that it was a very pleasant experience and I avoided endless hours of haggling in a dealers showroom.
  • bobw3bobw3 Member Posts: 2,989
    So you found that many dealers with the options you wanted. That's pretty good. I was originally looking for a CE Manual (I don't like the fake wood look) with anti-lock brakes and side curtain airbags, but could only find the anti-lock brakes and side airbags in an LE. And then I wanted Silver and the dealer I was at did a search just to find one with everything I wanted. I can't imagine not getting the safety features like the curtain airbags, especially on a small car such as a Corolla. Probably they'll be standard on the next generation of Corollas, but maybe that's why I'm having a hard time getting a good deal...because it's hard to find a car out there. But if I have to pay a few hundred above invoice to get the safety features I want, then that's okay. $300 is less than 2% of 16,000, so it's really not too much anyway. Thanks for the info.
  • dkarschdkarsch Member Posts: 72
    My configuration was pretty generic so that is why I was able to send to so many dealers. On future car purchases I would recommend giving the fightingchance package a try.

    I didn't like the fake wood at first but it has grown on me. In a perfect world I would have liked the the extra safety features but finances are tight with college costs for my daughter.

    If you worked out the best deal you could, then be proud of yourself. You got the car you wanted and didn't pay anything close to MSRP.
  • twltwl Member Posts: 19
    When I talked to dealers they always add a significant so-called advertisement expense to the invoice. With that expense, the final invoice price is substantially higher than what Edmunds shows. How do you "negotiate" to get the price close to or even less than the Edmunds invoice price?
  • corollashoppercorollashopper Member Posts: 7
    sometimes you can just tell them you are not interested in paying any advertising cost. shop around and play hardball and you will find someone willing to cooperate. likely, have to tell a lot of dealers you'll pass on their best price.
  • dkarschdkarsch Member Posts: 72
    There is a valid fee that is called Toyota Dealer Advertising that you will have to pay. Toyota's fee is approx. 2%.

    In my previous post of my transaction, the $15,500 quote I accepted must have included the TDA fee as the only other fees I paid were tax and tags. (so if you factor in a 2% TDA fee then I got the vehicle for even more below invoice than I stated in my previous post) the dealer also didn't try and pull anything funny at time of signing. they were very business like and straight forward as they knew I understood the car buying process.

    I might sound like I'm preaching a bit but the $35 that I spent on the packet from fightingchance.com saved me hundreds of dollars and hours of aggravation. Edmunds pricing is okay but the fighting chance info is better. Another good site to read in carbuyingtips.com.

    you have to get to the sales managers as they are the final authority on making low margin deals. Once you get a salesperson involved then the dealer must pay him/her a commission and your rock bottom deal just went bye bye.
  • birdzilla137birdzilla137 Member Posts: 3
    Bought a CE with manual transmission and almost no options last week. 14,200 + doc fee of $150. MSRP was 14,985. I'm sure I could have done much better with more time/effort and a different personality, but the dealer is a mile from my new house, and I just wanted to get it done. So I'm happy for being under MSRP!

    I certainly didn't enjoy the experience. The salesman was like Gill on the Simpsons, whining about how he didn't make any money (the evidence shows otherwise).

    The car is very nice!
  • 1stcarbuyer1stcarbuyer Member Posts: 4
    I am so happy that i found this website before I went and bought my car. i never knew that I can negotiate the price of the car before I even go to the car dealership. Hopefully everyone's advice will help me since I have no experience buying a car. What I wanted to know is when u email the dealership what exactly is it that ur suppose to say as far as the pricing goes?

    I live in the washington dc area so if anyone bought a car from around here that would be helpful to.
  • sactojlmsactojlm Member Posts: 5
    I would not rely on Edmunds price as anything more than a rough guide. The fact that dealer's are inserting Edmunds price information sheets into their brochures leads me to believe that the dealers are happy with those "What Others Are Paying" prices. Yesterday, I purchased a 2007 Corolla LE for $14,988. Its MSRP was $17,276 and invoice was $15,965. Why? Well, the car was listed at $14,988 price in the dealer's ad---even though the one only car referred to had been sold. It was also the end of the month (October 31) and I suspect that sales goals or quotas were more important than profit. My car had All Weather Guard Package ($70), Audio Value Package ($450 less Extra Value Package MSRP Discount of $250), and Carpet Floor Mats/Cargo Mat ($171).
  • beantownbeantown Member Posts: 228
    Bought a CE with manual transmission and almost no options last week. 14,200 + doc fee of $150. MSRP was 14,985. I'm sure I could have done much better with more time/effort and a different personality, but the dealer is a mile from my new house, and I just wanted to get it done. So I'm happy for being under MSRP!

    Yikes.....that's about $3,000 more than it would have cost you in Mass.

    I've read of a few people paying $14K or more for manual CE stripper models and it makes my head spin. How about this for a deal? Any time anyone else is tempted to spend this kind of money on a manual CE, let me know. I will personally pay for your flight and transportation to one of the two Boston area dealerships that give these things away for around $11,900 every other week. In return, all I ask is that you pay me half the difference in price of the two cars.
  • dkarschdkarsch Member Posts: 72
    Emailing the dealerships is basically the same method as faxing but you must get to the sales manager and not a salesman. If you have never bought a car before you will want to read the car buyers guide at www.carbuyingtips.com

    The site is a lot to read but it will prepare you for all the tricks the dealership will try and pull. After you have narrowed down your choice of vehicles, then the $35 packet from www.Fightingchance.com will give you all the ammo you need to get a great deal.

    Also, always remember that the dealer needs your business more than you need to buy a car from him. that puts you in a position of power. Don't be afraid to say NO and walk out of the dealership if you don't have a good feeling about the deal.
  • dkarschdkarsch Member Posts: 72
    i agree with you on the Edmunds pricing. A few posts back I said that it was okay but then I tried to price out the car I bought on Edmunds. Edmunds didn't even have all the option codes that were available for the LE and their figures were off.

    Your comment of a rough estimate is more accurate!
  • dkarschdkarsch Member Posts: 72
    They have to be using this model as a loss leader hoping that they can up sell most buyers to either the "S" model or the "LE".

    the CE is pretty spartan so I am sure that for most buyers, they wouldn't be that opposed to moving up with a little nudging from the salesperson.
  • birdzilla137birdzilla137 Member Posts: 3
    Do people actually walk away from these places paying only 11,999 or whatever? I'm curious if they just don't advertise the price of options, or if there's a $600 doc fee, or whatever. Does this sort of advertising work so well they can afford to lose $1500 on the car?
  • beantownbeantown Member Posts: 228
    These dealerships each add $299 for doc fee, but that's it....unless you want an extended warranty, but that's completely optional. No forced pinstriping, tint, undercoating or any of the other crap that some dealerships usually try to pass off.

    How can they do this? They are very clear that it costs them less to move these at a $1,500 or so loss in one or two days than it would to keep them on the lot taking up valuable space for over a month (because that is how long it takes them to sell manual stripper CEs without discounts), and these are two of the largest volume toyota dealerships in the region. People just won't buy these specific models around here unless they are heavily discounted.
  • bobw3bobw3 Member Posts: 2,989
    I agree that I think this is a way for them to advertise "Toyota Corolla Less than $12,000" just to get people on their lot, and then when people realize there are no curtain airbags, ABS, et... they might end up buying something else. All the time you'll see ads like that and in tiny print, "one at this price." For a big dealer, the money lost is probably cheap compared to other forms of advertising.
  • 1stcarbuyer1stcarbuyer Member Posts: 4
    how long does it take before u receive ur report from fighting chance
  • alamocityalamocity Member Posts: 680
    Should receive it within 48 hrs via email.
  • dkarschdkarsch Member Posts: 72
    If you still have questions after reading the packet from Fighting chance, don't be afraid to call them. They are terrific about taking the time to answer any questions or walk you through how to calculate holdback figures, etc. (i.e. for Toyota the hold back is a % of the base MSRP at the top of the windows sticker - not the bottom)

    I must have called them at least 5 time with one or two quick questions before I finally had everything ready to fax out.
  • philphilphilphil Member Posts: 15
    Hi,

    I bought my 2007 LE on August 29th. They had an LE with a sunroof (which is hard to find) without anti-locks and extra airbags. I haven't had a car with a sunroof in years. I was dying for one. But for the same price I took the safety over the sunroof. I'm not trying to make a point or anything and I'm sorry if it sounds like that but isn't safety more important than alloy wheels?

    Phil
  • dkarschdkarsch Member Posts: 72
    Of course safety is more important and if money wasn't an issue then I would be on the civic discussion board as the new civic comes with all the safety features and I probably would have bought one. Since the finances were tight, and I had a limited amount of money, I opted for the base corolla LE and the alloys.

    Side airbags and ABS really aren't a concern for me as I'll stack my driving style up against anyone. In the past 24 years, I've have had one small fender bender (14 years ago) in which no one was hurt and damage was limited to approx. $400.00. I don't tailgate, maintain proper following distances and constantly scan the road trying to anticipate trouble spots. most of my driving is local and over back roads so I don't see a lot of traffic.

    That's not to say that I couldn't be dead tomorrow but the odds of it happening in a car accident are not really high.
  • philphilphilphil Member Posts: 15
    Yeah I see your point. I'm driving 30 years with no indicents also. I feel like I'm invincible too sometimes. But we can't stop another guy from killing us no matter what.

    I guess if it was just me driving I would have opted for the sunroof but my daughter drives to college with this car also. Take care.

    Phil
  • dkarschdkarsch Member Posts: 72
    I was just thinking, the bacon and eggs for breakfast and the occasional Philly Cheesesteak will probably be my demise...LOL
  • dkarschdkarsch Member Posts: 72
    Keep us posted on your progress when you actually send out the faxes.
  • doug52doug52 Member Posts: 25
    With all due respect, your driving style will not prevent an idiot running a red light or stop sign and broadsiding you. For an extra few hundred, is it real worth the risk? After 24 years, the odds are shifting against you.
  • dkarschdkarsch Member Posts: 72
    Your right, it won't. But you can lessen the risk by not trying to anticipate the changing of a light or taking a few seconds to double check that a car is actually slowing down at an intersection. Every one seems to be in a big hurry these days and that is why I drive defensively.

    ABS and side curtains are normally sold together and was on very few cars I saw. the invoice on them was approx. $900. basic laws of supply and demand dictate that if there is a limited supply of what you want then the price is going to be higher. I doubt I would have gotten such a good price if I was trying to get one of those vehicles.
  • sam1461sam1461 Member Posts: 16
    Hi,
    I got a red corolla LE auto with carper floor mats, all weather guard package, audio value package for $15,300(excluding sales tax and registration). I tried out a few dealers and asked them to beat the lowest one and I paid a 300$ deposit for this car after getting a fax with the car details and vin signed by the manager. I think I did a right thing by paying a deposit for 15.3 , please let me know if I got a fair deal.

    Also, I am currently working on my PhD for 3 years and the toyota financial services website says one of the conditions to avail the $400 student rebate is to be enrolled as a grad student since 2 years and to show proof of future job, I believe i can show them the fellowship which is more than enuf to pay the 150$ monthly payment for my financing. any comment will be greatly appreciated.

    Thank you for your time.
    Sam
  • sam1461sam1461 Member Posts: 16
    Hi,
    Looks like you got a great deal. I got a deal for 15,300 for exactly the same configuaration so i made a 300$ deposit after getting the car details and vin faxed and signed by the manager. I am still trying to use the 400$ graduate student rebate. Do you know if I should resolve the rebate thing at dealers or with the toyota company people?

    the requirements says if we have graduated in the last 2 years or would in the next 6 months or we are currently enrolled as a student for the last 2 years then we r eligible, i have been a student for the last 3 years i hope i am eligible here and they also need a proof of future job but currently i have my fellowship which covers most of my expenses do u think i can show that to avail the rebate offer?

    thanks,
    Sam
  • dkarschdkarsch Member Posts: 72
    it appears the invoice on your vehicle should be around $15,548.00 so at $15,300 you did good. (beat my deal by $200) Are you in one of the Southern states that gets their cars from Gulf States Toyota?

    Gulf states was offering a $500 rebate on new LE's but I think it expired on the 31st. Worth checking out if Gulf States is your distributor. Good luck with the $400 student rebate. Hopefully you'll get it.
  • sam1461sam1461 Member Posts: 16
    nope, i live near chicago, the dealer in schaumberg just yielded when i told him I wud make a deposit on phone. I wud get the car in a week from now and am not really in a hurry.
  • looking13looking13 Member Posts: 3
    When I went to the Toyota Dealer yesterday, they were not impressed with my internet information and the salesman said, "You know they won't go much lower than MSRP." And he tried to steer me to a used car or Yaris. Does the haggling not work so well when there are only two dealers in town.

    Because I want ABS and side airbags, the salesman also said that I could just order it, but if I ordered, there would be no negotiation off of MSRP.

    At the other dealer, they didn't even bother to approach me - just let me write down the sticker information.

    There are only two dealers in town. Does this not work in my kind of situation.

    The
  • sam1461sam1461 Member Posts: 16
    try to go to a bigger downtown, i live 100 miles from chicago and at my place they quoted a corolla ce 07 with power package for 16K and in chicago they quoted 14.5K. I wud always be ready to move to a bigger city where there are more dealers to save some bucks.
  • dkarschdkarsch Member Posts: 72
    Do not pay anything close to MSRP for Corolla. I just got one for $173.00 below invoice and Sam1461 found one for about $250 below invoice. If you go back a few posts I gave two websites you should go visit which will help you in your purchase.

    The salesman saying your internet pricing is wrong is a typical response they will throw out there. While some pricing sites are a little off, the FightingChance.com packet was dead on.

    Like Sam1461 said, you will need to expand your search area. I was willing to drive up to an hour away to get the best deal.
  • armydavearmydave Member Posts: 29
    Dealer cost below invoice on a corolla is about $400 below invoice. If you are an invoice buyer they will try and give you want but they WILL make it up on FEES. Many people do not say what they paid in fees.

    Never assume that you have to pay the fees no matter what, so I will try and get the cheapest price before the fees. Fees are ADP (additional dealer profit).

    If you us the OTD (out the door) offer the fees will disappear. I give them what I am willing to pay with an OTD price with a fair profit. I have NEVER been charged dealer fees. The only way to stop the fees is with an OTD price. If they turn down your offer, go to another dealer. Give them a fair price and they should accept it.

    Hold back on a toyota is 2% of the base car. On american cars it is ussually 3% of the MSRP. Somepeople think they got a great price but they are not counting the FEESSSS.
  • armydavearmydave Member Posts: 29
    You are not naive. They are not selling them below invoice. They make up for the discount with FEES. You have to take your total price including the fees and then figure just how much over invoice or below MSRP that you paid.

    Dealers would probably want $500 over invoice for a corolla. I offered the dealer about $1,100 total profit, for my 2004 camry without any fees. It was accepted without and debate.

    That is about $600.00 over invoice. Never ever be a monthly payment, trade in, or invoice buyer. They will get you every time. Beware the fees, be a OTD buyer. The fees will disappear.

    Skip the extended warranty, you don't need it on a toyota. They are practically all profit for the dealers.
  • armydavearmydave Member Posts: 29
    Use an OTD price that includes everything. Explain just what the OTD price includes. If you don't they will try and add fees. Fees are just additional dealer profit. They do pay toyota advertising fees but they do not have to be listed seperately.

    If they do not have what you want ORDER the car. I never take a car off the lot. I don't compromise on what I want. You can get a better price by ordering. Paying for options you do not want will not save you money on the overall price.

    Do not be an invoice buyer, they will use that against you. With an OTD price they can't add extra things. If they accept your offer good, if not go to another dealer.
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