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2004-2009 Toyota Prius Prices Paid and Buying Experience

Karen_SKaren_S Posts: 5,092
edited October 2014 in Toyota
Please share your recent Prius purchase price and experience.
«13456743

Comments

  • Today I got an Invoice from NJ dealer for $1000 less on MSRP

    Plus

    Mats
    Taxes
    Reg.
    Title

    Tomorrow I will pay the deposit (we see good days etc.,)
  • More News:

    Friday I got 2006 Prius for $1500 under MSRP. This is from TOYOTALAND, Springfield, NJ. I paid my deposit. I ordered either of these colors in base+mats. Driftwood Pearl/Silver Pine Mica. Because I put this dealer with competetion with my $1000 dealer. It worked great.

    21069 Price (Including Dest+Mats)
    299 Doc Fee
    Plus
    Tax (NJ Tax)
    Title/Reg 242
    7.50 Tire Fee
  • Edmunds lists TMV on Prius as a average of over $31,000 I paid MSRP for a fully loaded Prius in MA at Bernardi Toyota. Now the wait begins.....
  • Kamalapc: Congrats. Sounds like you got a great deal. I'm completely new at this. Could you please go thru the math again, a bit slower? My understanding is that MSRP is 21725, and destination is 580, for 22305 total. I have zero clue how much mats typically cost. You cite saving 1500 under MSRP. 22305 - 1500 = 20805. Your cite price 21069. 21069 - 20805 = 264; was that the cost of the mats?? And now that I think about it more, I guess the package (I'd want either 2, 3 or 4) is a separate issue, right? Thanks.
  • With Tax & license, I will be paying about $26k for a package 3. I have heard that there are mats 'out there' that can be bought for much less than the Toyota asking price. Havent been able to find these less expensive mats, though...
  • Well, I picked up the car, and I am happy. However, the salesman that I worked with didn't know how to operate the car. Otherwise, though, I think it was a good buying experience. This is my first new car, the first one bought from a dealer.

    Yeah, there was a little pressure on the sales side regarding extended warranty and other extra stuff that 'I absolutely have to have', but it was simply a matter of saying 'No, thank you'.

    Regarding the mats, the dealer threw them in for free. Didnt cost me a dime.
  • In Los Angeles, I've been seeing that many of the dealers are charging up to $5K over invoice for the Prius that they don't even have on their lot. So when I found a dealer that was only charging MSRP for them, I felt like I had won the lottery. So the dealer was able to tell me what they had been allocated and were expecting to receive within the next 4-5 days. They were expecting two...a Silver package #1 and a Silver package #8. Since they had the VIN# listed on their inbound inventory, they were able to write up the sale to hold it from being sold to anyone else. This required NO MONEY out of pocket for me. Two days later it arrived. I paid $29,459 for a package #8 with floor mats/cargo net & first aid kit. Although the car comes with an 8 year/100K mile warranty on the Hybrid systems, I went ahead and purchased the Toyota Platnum Bumper-to-Bumper warranty for an additional $2K. This extends the full warranty to 7 years/100K on everything, not only the Hybrid system. I purchased from Moss Brothers Toyota in Moreno Valley, CA through the fleet dept. I would strongly suggest that if you're in the market for a new car, call the dealership first and ask to speak to someone in the fleet dept. The dealings with the front sales people at most dealerships is very intimidating. The fleet dept is able to give you what you're looking for and without having to waste so much time with the negotiating process. Good luck! :)
  • midnightcowboymidnightcowboy Posts: 1,978
    Argh! You got a good price on the car :) but you kind of got taken :cry: on the extended warranty, you should have been able to get it for closer to $1K. But oh well, enjoy you car,
  • mhoranmhoran Posts: 1
    My Black '06 is getting delivered tomorrow. Got package #8 with the full extended warranty for a total of 28.6K (the warranty was only $1075). Went thru a great broker, and they actually bring it to my house. Can't wait !!! :)
  • Are you by any chance located in San Francisco area? Want to share the name of the Broker? It seems that the dealers around here have all agreed on a price just a little over invoice...maybe it covers the "free" mats! I'd love to hear anyone's recent buying experience (i.e. prices) in the Bay area!
  • acm741acm741 Posts: 7
    CarMan could you help with these? I'm in CT. Thanks!!
  • kyfdxkyfdx Posts: 130,684
    Ask your Toyota Prius lease questions here!

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Posts: 130,684
    Hi, acm741

    Ask your Prius lease questions here: Toyota Prius: Lease Questions

    Car_man will be sure to see it there.

    regards,
    kyfdx
    Host-Prices Paid Forums

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kawo_leekawo_lee Posts: 1
    Hi Mhoran,

    I am also living in Bay Area and thinking about buying a Prius. Do you mean the dealers around here agreed So far all the dealers I talked to are either willing to sell with the MSRP price or some even with the mark up. Which are the dealers or brokers you talked to that are willing to sell with the invoice price.....if that's what you have found.
  • jrct9454jrct9454 Posts: 2,363
    He said "invoice" - he meant MSRP. This seems to be a common problem in these pricing discussions.

    Nobody in California [or anywhere on the West Coast, for that matter] is selling the Prius at significant discounts. A good deal is MSRP, or if you're really lucky, a bit less. The trick is to keep the dealer extras to a minimum so you can get out the door with just taxes and license added on.
  • acm741acm741 Posts: 7
    CarMan could you help with these? I'm in CT. Thanks!!
  • Right - I meant MSRP. Thanks for the clarification. :blush:
  • Just reading through the posts and I have to add my excitement: we got on the list for a Seaside Pearl, Pkg 1 2006 Prius on Jan 7, 2006. We pick it up tommorrow!! Paying about $23,141 - that's without dealer markup. I also dealt with the internet fleet manager at the dealership - because he was the one to respond to my emails. Much less pressure than a salesman, and he knows the ropes.

    Any advice for a first time hybrid owner?
  • ppsamw2ppsamw2 Posts: 1
    Picking up 2k6 pkg 2 silver a/dark gray interior.
    Paying $4016.00 out the door (incl T & T).

    Trading in a 2k5 Prius with 8000 miles.

    Nothing wrong, I just like the extra bells & whistles on the new one.
    This has side air bags the 2k5 doesn't.

    No waiting for delivery, ordered tonight (3/20/06)Car is coming in to dealer (N.E. Phila Pa area) tomorrow.

    With the $3000. tax credit (car is 5430 off the mfg line) and $500 cash back from the state of Penna, I break even.

    I don't understand why some people say they waited months for their car. Only waited a week for the 2k5.
  • gagricegagrice Pahrump, NevadaPosts: 31,432
    Paying $4016.00 out the door (incl T & T).

    That is a great price. Even Good to see dealers selling at or near invoice. Makes a practical buy. Sounds like you got a good trade-in.

    Welcome to the forum
  • At least here around Philadelphia, Prius supply has caught up with demand (or demand has slackened). Every dealer that I've checked has inventory and having at least a handful of Priuses available for immediate delivery is normal. No more paying over sticker either...a co-worker told me he paid $800 under MSRP for a 2006 Prius pkg 6 two weeks ago and he didn't feel like hard bargaining. Oddly, Edmunds states TMV is $2500 over MSRP for this region of the country!?
  • I'd be happy to help you out, acm741. As one might expect, Toyota is not currently providing any sort of lease support on the Prius in any of the regions that I have seen its program for. As a result, if you were to lease a 2006 Prius through Toyota Financial Services right now you would have to use its standard lease program. The last time that I saw it, TFS' buy rate standard lease money factor was .00265 for consumers who qualify for its Tier 1+ credit tier. Its residual values vary depending upon how long you lease it for and how many miles per year you are able to drive. TFS' 36 month, 15,000 mile per year residual value for this car is currently 55%. Let me know if you want to lease it for a different term or mileage allowance.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • dfrank1dfrank1 Posts: 3
    I was just wondering what Prius' are typically leasing for. I got a quote today that was $590 a month with 0 down, $570 with $1000 down. this is for a new prius with package 7, with an MSRP of $28,221. That quote seems ridiculously high. Any input would be appreciated, thanks!
  • jrct9454jrct9454 Posts: 2,363
    I avoid leases like the plague, but I have to agree that seems insanely high. Of course, you've left out a lot of details: number of months, residual, lease factor [interest rate], etc.

    Look at it another way - what would a zero-down 60 month loan run you, if you could land such an animal? And at the end, you'd own the car...

    This car should have extremely strong residuals - that lease sounds like what you'd get for a BMW 5er or a Mercedes E, with MSRPs in the 55k range. For a Prius at $28k, well, insane is the only word that comes to mind...
  • Anyone from Texas,and Oklahoma? That can tell me of a dealer that will take off the msrp of toyota prius?
  • dfrank1dfrank1 Posts: 3
    well, this is for a 36 month lease. I'm not sure about the residual or interest rate. The guy did seem a little flexible, but only if I were to sign the contract that day (of course). If I could get it down to $500, do you think that's reasonable? I know that's really high for a $28k car, but i'm just wondering if that's typical no matter where you go. I know this car is in high demand, and dealers don't really give you any breaks on it. anyway, thanks...
  • jrct9454jrct9454 Posts: 2,363
    I suggest you pose the question here:

    http://townhall-talk.edmunds.com/WebX/.f0ae824/0
  • dfrank1dfrank1 Posts: 3
    I was just wondering what Prius' are typically leasing for. I got a quote today that was $590 a month (for 36 months) with 0 down, $570 with $1000 down. this is for a new prius with package 7, with an MSRP of $28,221. That quote seems ridiculously high. Any input would be appreciated, thanks!
  • esteban1esteban1 Posts: 3
    Looking for sub MSRP in Orange County CA. Anyone?
  • jrct9454jrct9454 Posts: 2,363
    We love our '06 Prius, but I would never pay the price of a Pkg 7 car. Ours was a Pkg 1 [just the extra airbags], and ran around $23k.

    I regard the styling as very European - Citroenesque, to be precise.

    The other cars you list were on our list, as well, but I wanted a hatch and the cargo space in the Prius - not to mention the real room for adults in the back seat....all with 45 mpg.

    No discounts to be had in most markets - MSRP, less a couple of hundred if you're lucky, is about what it is. At $23k for ours, less the tax credit of $3k, the car has no peers, in my opinion.
  • midnightcowboymidnightcowboy Posts: 1,978
    Fred Haas and Sterling-McCall in Houston
  • What package Prius did you get? Who was your salesperson. I am just starting to do the Prius research so bear with me. I am in Vienna, VA
  • giraldogiraldo Posts: 16
    Does anyone have an estimate of when the tax credit is going to end? I'm saving up money, but i know that 3,000 is going to help a lot. anyways, i'm a college student and do not make a lot of money, do i still get 3,000 from the gov't, or do i only get a prorated amount.
  • JBaumgartJBaumgart Posts: 890
    Assuming you will not be affected by the Alternative Minimum Tax, you will get a tax credit of approximately $3,000 off of your 2006 taxes owed. So you would have to owe at least this amount to get the full credit. The best estimate as to when the full credit will expire for Toyota vehicles is 9/30/06, so you would have to take delivery before then.
  • jrct9454jrct9454 Posts: 2,363
    This is right on: credit should be good for Toyota at least through the 3rd quarter, but it cannot reduce your tax below zero. You have to have a tax liability of at least $3000 for you to reap the full benefit, and it sounds like this isn't going to fit the situation of someone with a limited income. [It's not like some other credits, where the IRS will send you money, even if your tax liability under the law is zero....and you have to take the car credit AFTER all other applicable credits.]
  • cooljwcooljw Posts: 47
    It's good to hear that Prius are going for less than MSRP in certain parts of the country - seems like this has just started happening in the past few months.

    I'm in SoCal, and unfortunately I haven't heard any stories of below-MSRP pricing here. Not sure why Prius demand is still so good here, must be the $3/gallon regular gas.

    Btw, for those of you new to Prius shopping, don't pay more than MSRP! You're a fool if you do.
  • thekingtheking Posts: 107
    Just bought 2006 pack 3 Prius in New Hampshire...I was given Full Kelly Blue Book (excellent condition) for my trade...Car itself was at MSRP with $95 doc fee..and I received a Lojack retrival and alarm for $450.....please comment !!!! :D
  • arissoarisso Posts: 1
    Let me understand your point. You are saying that I can only get a credit of $3150 (for the Prius) if I owe money to the IRS for 2006 ? What happen if I have a tax credit instead (home mortgage for example) ?
  • jrct9454jrct9454 Posts: 2,363
    This is hard to explain in this medium, because people often misuse terms in talking about taxes. Let me try:

    In the end, after ALL of your other deductions and credits, your tax liability must be over $3k for you to enjoy the full benefit of the hybrid car credit. It is the last credit you can apply, and it cannot reduce your taxes below zero - unlike the earned income credit, for example, or other credits that result in you getting money from the IRS even after you owe them nothing.

    To take a personal example, I estimate our 2006 taxes to be about $4500 after all deductions and other credits; thus, in our case, the credit reduces our tax to about $1500. But if our tax had only been, say, $2500, we would have a tax of zero, but it also means we would have "forfeited" part of the credit.

    First calculate your taxes under the current rules, with all deductions and credits - then you get to take the hybrid credit, down to but not below, a zero tax liability.

    And for the record, home mortgage interest is a deduction, not a credit. Deductions reduce your taxable income; credits reduce your tax liability after all your deductions are taken, and your "base tax" is calculated. This is an example of why this is not an easy discussion in this forum.
  • Do you happen to know if the IRS regs restrict the tax credit to one vehicle on a single or joint tax return? Suppose you buy two new Prius(s). Assuming you have a tax liability in excess of $6300, would you receive a $6300
    credit or just a $3150 credit?
  • jrct9454jrct9454 Posts: 2,363
    The draft version of the form shows room for multiple credit claims - as far as I can tell, there are no restrictions on how many credits you can apply, as long as it doesn't reduce your tax below zero, and as long as AMT doesn't apply [another big caveat].

    Form 8910 at the IRS website....noteably without instructions at this point, as they are still working on the details.
  • Can we take this one step further? I think part of the confusion - at least on my part - is the difference between tax liability and, when all is said and done, how much you owe Uncle Sam vs. how much you get back.

    "To take a personal example, I estimate our 2006 taxes to be about $4500 after all deductions and other credits; thus, in our case, the credit reduces our tax to about $1500. But if our tax had only been, say, $2500, we would have a tax of zero, but it also means we would have "forfeited" part of the credit."

    So your tax liability is $4500, the tax credit lowers that liability to $1500 ... and at that point, you factor in what you have paid in taxes over the year, right? If your tax liability without the Prius tax credit was $4500, and you had $4000 withheld during the year for federal taxes, then without the Prius tax credit you would have to pay Uncle Sam $500 ($4500-$4000=$500). But with the tax credit, the calculation is $4500-$3000=$1500 ; $4000-$1500= a tax refund of $2500.

    Is that right? It's not a matter of the bottom line - what you owe or what you get back - it's that your total tax liability, before you factor in what you have already paid in taxes, must be equal to or greater than the Prius tax credit to get the full amount of that tax credit ... right?
  • JBaumgartJBaumgart Posts: 890
    Although I cannot say with 100% certainty, I've got to believe that what you say is correct, i.e., someone would not be penalized simply because they had more money withheld throughout the year. The two keys are your eligibility (that you are not affected by the AMT) and your tax liability. Your eligilbility and the amount of your credit are not dependent on how much was withheld vs. how much in addtional taxes you would otherwise owe.
  • Thanks for the heads up. Why do you suppose Form 8910 still has a CY2005 header at the same time that it indicates the form is only applicable for vehicles placed in service after 2005? I also wonder about the langage: vehicle placed in service after 2005 since arguably you could purchase the vehicle in CY2005 but not register it/place in service until 2006.
  • I'm not too knowledgeable on tax matters and on th $3000.00 Prius tax credit i've received conflicting answers. Hopefully someone can provide the correct answer.

    One source stated that if my income were $50,000 I would deduct the tax credit and my gross income would be $47,000. My total tax liability plus any further tax deductions(not credits)would be based upon the lower figure.

    Another source said that if my total tax liability was $10,000(based upon $50,0000) applying the credit would reduce that to $7000. I'd like to think this is correct.

    Thanks for your help.
  • dude16dude16 Posts: 3
    anyone bought a prius in Canada
  • jrct9454jrct9454 Posts: 2,363
    ...I'm going to try one more time, then I'm done.

    -Your tax liability is the total tax as calculated on the form 1040. It is irrelevant for this discussion whether you had $1 in withholding or $1 million. Your withholding, or estimated tax payments, if you're smart, should approximately equal your TAX LIABILITY in any given year...otherwise, you're making the govt an interest-free loan. Lots of people do, which is why refunds are so high, but this is why the discussion gets complicated. When I say "tax liability" I mean your net level of taxation for any given year...NOT how much you owe as a result of underpayment, or how much they owe you on account of overpayment.

    -In the example I used, and cited by Cybernut, his logic is correct.

    Gross income minus deductions equals adjusted gross income. AGI is then used to calculate your TAX. Then CREDITS are subjected from the tax to give your NET TAX LIABILITY. [How much you have already paid in withholding or estimated tax payments then equals a refund or amount owed.] The hybrid credit is taken as the last credit to calculate your net tax....but cannot reduce your net tax below zero. And if you're subject to the AMT, you can lose the value of certain deductions and credits, including this one.

    If you have fully funded your tax liability through withholding or estimated payments, and if the credit applies, then yes, your refund would increase by the $3000 of the credit.

    -As for the form, the one online now is indeed for the 2005 tax year; there will be a new one for the 2006 tax year, which hasn't been posted yet. I was merely trying to address the question of multiple credits - the current form seems to allow for multiple deductions under the old law, and I know of nothing in the new law that prohibits multiple credits, as long as your tax liability doesn't go below zero. We shall see when the final version for 2006 is drafted.

    It's simple. DEDUCTIONS reduce your income that is used to calculate your tax. CREDITS are applied after you've calculated your TAX, giving your net TAX LIABILITY. How much you owe or get back is based on how much you paid during the year. Some people like big refunds; I'm not one of them, and try to arrange our payments and liability to match within $50 in any given year....but that point is not really relevant to the discussion.

    -Gross Income: $60,000
    -Standard Deduction [or itemized, whatever]: -$10,300 for joint filing
    -Personal Exemptions: -$3,300 x2 for a childless couple = -$6,600
    -Other Allowable Deductions: IRAs? Whatever? -$5,000

    -AGI= $60000-10300-6600-5000= $38100
    -Tax for a joint return = $4960 [Gross liability before credits]
    -Hybid Credit = -$3000
    -Net Tax Liability = $4960-3000 = $1960 (The hybrid credit CANNOT reduce this number below zero.)

    (Then, and only then, does the question of how much you've already paid enter the discussion. If you paid $5000 through the year, your refund in this case would be $5000-1960 = $3140.)
  • jrct9454jrct9454 Posts: 2,363
    ...before our host jumps in, and reminds us this discussion is supposed to be about prices paid, I'll mention that we bought our '06 Pkg 1 car in mid-February in the Portland OR area for MSRP. In our case, that was about $23k. Because we can take the full credit, both by timing and our tax situation for this year, our net cost for this car was about $20,000 US. I don't think anything else can touch it at this price for overall utility and economy in one package.
  • peteski1peteski1 Posts: 5
    Just put down a deposit on a #3 with Z1 (mats, cargo mat, first aid kit) and rear bumber applique. Final price is $23,300, almost 1K below invoice with the additions. Just couldn't find a pkg 1, and with these addtions, my price is pretty close to the pkg 1 MSRP, so I'm tickled! Spent a long while negotiating with several dealers in several states in the northeast, some of which are telling me they are going back to MSRP since gas is so high and demand is increasing again. Anyway, thakns to all who've posteed- it really helped me out!
  • cooljwcooljw Posts: 47
    It's great to see Prius going for less than MSRP in the Northeast. Unfortunately here in CA, MSRP is still the standard.

    Are there really that many more enviro-loving drivers here in CA? Is the Prius a very popular car in the Northeast? It seems popular here, but it's not like everyone wants one. I just don't understand the supply-demand gap.
This discussion has been closed.