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2004-2009 Toyota Prius Prices Paid and Buying Experience

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  • hfrisch1hfrisch1 Member Posts: 1
    We got our first prius with the top of the line package early in March. We put nothing down at all including tax and registration. It is costing us $464 a month for 35 payments plus a first payment of $764.

    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.
  • dmathew347dmathew347 Member Posts: 80
    Hi,
    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.
  • lk307lk307 Member Posts: 1
    I just took delivery of a 2007 Silver touring with package 1 on the last day of march in downtown chicago. Paid 22,796 (250 under invoice), added platinum 6 yr/100,000 mile extended warranty for $1200 (quoted 1800 then 1400..then i bargained some more). Spent 2 hrs getting to dat point. 0% apr for 24 months make the deal even better.
  • bgk99bgk99 Member Posts: 24
    Toyota of Northridge:

    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 :)
  • carlstraubcarlstraub Member Posts: 50
    Hi,
    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
  • ilikebaseballilikebaseball Member Posts: 1
    Boch Toyota in Norwood, MA. Brand new Prius. $209/mo + $3000 down including all fees. We pay taxes. Non-touring Prius with package 3. Rear-camera, mp3 player, traction control and iPod input. Money factor was .00001. Pain in the you-know-what to get them to go that low but we are happy.
  • wooha2000wooha2000 Member Posts: 54
    I just got an email from a LV dealer indicating that there is now a 500$ Rebate on toyota's? Is this true?
  • Kirstie_HKirstie_H Administrator Posts: 11,148
    You can also check the Incentives & Rebates page here.

    MODERATOR /ADMINISTRATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • mevandemevande Member Posts: 190
    I have been given a firm quote of $26,600 for Pkg#6. I live in Indianapolis and the best deal was in Chicago and will press local dealers. Waiting for the 2009 is tempting and there are some nice spy shots out there. I do have a 'knock' against some Prius drivers. Today one was going 40mph in a 50 and was about to get run off the road for he was causing a backup. :mad:
  • dedrickdedrick Member Posts: 1
    I just bought a white 2007 prius with package 6 including carpeted floormats and trunk mat as well as the rear bumper applique for $26,781 which was at invoice price. I bought it from Thompson Toyota just outside of Baltimore. I purchased it on March 31st so that I could qualify for the tax credit before it was reduced and also was able to get the 2.9% financing for 5 years. With gas prices the way they are I would not be surprised to see a decrease in the discounting throughout the summer. I have only had it a couple of days but the technology is fantastic and the car is better built than any car I have owned (including BMW, Honda and GM). :)
  • osk86osk86 Member Posts: 2
    why does it seem as if the dealerships keep changing the residual values. does anyone know the set residual value for a 36 month lease on a 2007 prius in the Sf Bay area?
  • kewl2kewl2 Member Posts: 1
    I hardly know where to begin with the lease process. I've researched the purchase, but am still confused about leasing and what to ask for. I'd like to lease package #6....where do I start?
  • womblewomble Member Posts: 28
    I really want to hold out for the 09 but don't think I can. Can't decide between package 2 or 6 (ie leather or not). Anyone suggest a dealer in socal that will give me a good deal paying cash. Can I expect to get much of a discount not financing? Thought about leasing for 2 years but doesn't seem to make sense financially. Cars direct pricing seems like it could be better.... any thoughts anyone? thanks.
  • carlstraubcarlstraub Member Posts: 50
    Hi,
    Send me PM I'll give you the info. We bought 2 phg #2 cars a month ago.
    Carl
    malibucarl@hotmail.com
  • cruising7388cruising7388 Member Posts: 125
    Don't get led into a discussion regarding financing or cash when you are negotiating the price. Tell the suede shoe salesman that you don't even want to address that issue until you have determined the selling price.
  • womblewomble Member Posts: 28
    But ultimately, can't you get a much better deal walking in with a check than financing?
  • cruising7388cruising7388 Member Posts: 125
    LOL! It;s precisely the opposite. You are one of a large contingent of folks that think that auto dealers are in primarily in business to sell cars. Not so! The only purpose for the cars is to finance them. That's where the big profits at the dealerships are made and they count on these financing profits when the sales price for the vehicle is cut to the bone. So going to a dealer and announcing that you are going to pay cash actually puts you at a disadvantage.
  • womblewomble Member Posts: 28
    That's really good to know. I've never bought a car for cash before so now I know. FYI, just saw on the wall street journal that new incentives for prius being offered $500 - $2,000 as last round of incentives so successful. They are pushing to sell as many as possible of 2007 model.
  • cruising7388cruising7388 Member Posts: 125
    Having said all that about financing, don't reject outright the financing alternative without doing some math. Assume a $25k purchase figure with 20% down and financing 20K. The bad news is that the interest on the loan is consumer interest that is no longer tax deductible. But, if the financing interest rate is sufficiently low, you end up with a better bottom line financing the purchase and investing your 20k of cash in a high quality mutual fund.
    I see some finance rates as low as 2.9%
  • dmathew347dmathew347 Member Posts: 80
    So does anyone have information or links on the Prius incentives being offered. I called up 2 Toyota dealers last night, and neither one was aware of any incentives being offered. How long is the incentive for, and what's the amount?

    Also, what is the tax credit amount for the Prius now?
  • acdiiacdii Member Posts: 753
    Picked one up on Monday, last day of the 2.9 financing, last one on the lot. Wasnt planning to buy one, but considering how fast gas prices are going back up, what I have been spending on gas and diesel to just go to work each day, my wife and I decided to buy it after we drove it. I basically just wanted to see how they drove, but after seeing what it would cost per month, and knowing it will get AT LEAST 40-45 MPG, we bought it. Didnt get any special deal on it, paid sticker, but they did give us $4000 for an old 98 explorer that was in not so good shape, so we did come out ahead. I bought the extended warranty too, probably paid too much for it, but all it takes is one big item to go and it pays for itself, happened to me on a 92 crown vic, fuel pump went out, took all the wiring with it, warranty was paid for with that one instance.

    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.
  • acdiiacdii Member Posts: 753
    From now until october it is about $780 something and change, after October $0.

    The incentives are on packages, they are going to be discounting packages to help sell them, but you wont get any special fianancing.
  • pathstar1pathstar1 Member Posts: 1,015
    You can cancel the extended warranty and get a full refund on that (you have at least 30 days to do so). Then you can get the same warranty on-line for a lot less. The "platinum" version (7yr 100,000 mi) is $995. Check it out on Priuschat. It's Toyota's warranty, from a Toyota dealer, valid at any Toyota dealer.
  • acdiiacdii Member Posts: 753
    Real question is, Do I really need it? I didnt have time to really review things on the Prius, as if I waited too long, then getting 2.9% financing would be gone. That and they sold out their stock on Saturday and just go this last car in that morning. It will save us about $1900, or like you said, $1000, if it is something that I really dont need.
  • carlstraubcarlstraub Member Posts: 50
    Hi,
    As I understand it you can purchase this warranty anytime before the 3/36000 warranty has expired.
    Check to make sure.
    Carl
  • acdiiacdii Member Posts: 753
    Where can I find cancelation information?
  • acdiiacdii Member Posts: 753
    OK, I found the number to call and cancel the policy, it said to call the selling dealer. I did, I got the warranty for $726, they are sending me a check for the difference. I still have to pay the finance on the 1995, but a $1200 loan for 2.9% isnt bad, could always use that for something else, like pay off a high interest card.
  • larsblarsb Member Posts: 8,204
    Make sure the dealer is giving you the correct package discounts:

    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.
  • bugchuckerbugchucker Member Posts: 118
    I don't agree. Cash is king. That dealer knowns if I come into his dealership he doesn't need to worry about the the buyer being a financial deadbeat.
  • womblewomble Member Posts: 28
    I've decided on the leather now that they've taken 2K off the price. Any tips on how I negotiate less than msrp at a dealership? I can only think of taking in carsdirect.com quote and asking them to beat it, but I want black and there seems to be very few of them out there.
  • cruising7388cruising7388 Member Posts: 125
    You are, of course, entitled to your opinion but it reveals that you don't understand the modus operandi of automobile dealerships. If you did, you would appreciate that the bulk of dealer profit is derived from the financing section. The automobile is simply the conduit for generating a finance package. Cash transactions don't generate nearly as much profit. You probably also think that Hewlett Packard is in the business of selling printers. If you knew that business, you would know that their dominant interests is not selling printers, (which they almost give away) but selling INK which generates tremendous profits.

    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.
  • cruising7388cruising7388 Member Posts: 125
    IMO, the best way to buy this vehicle is by working with the internet department. An aggressive internet department will email you the dealer invoice if you make it a condition of negotiating.

    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.
  • bugchuckerbugchucker Member Posts: 118
    That may be true sometimes. However, offering financing at a rate lower than the bank is paying me cannot be profitable.

    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.
  • carlstraubcarlstraub Member Posts: 50
    Hi,
    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
  • cruising7388cruising7388 Member Posts: 125
    Bugchucker, everything I wrote is predicated on dealing in person at the dealership. We are in agreement that internet transactions are another ball of wax. For one thing, the internet department is almost a separate company within the dealership and the floor salesmen are typically not too fond of the internet dept or its personnel. Salesmen don't mind competing with each other on the floor, but they often resent the young turks that whale away at the computers and consider them "outside" competition. So with respect to internet transactions, I don't think it makes much difference whether you offer cash or finance and my experience is that internet sales people don't even ask the question.

    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.
  • cruising7388cruising7388 Member Posts: 125
    My aversion to black:

    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?
  • bugchuckerbugchucker Member Posts: 118
    I agree with you. I wonder what my credit score is? I pay cash for everyting so it is probably low. However, I'm considering a 3.9% loan when the bank is paying me 5%. It would be funny if I did not qualify.
  • sriramchasriramcha Member Posts: 1
    Thanks everybody for all the useful info. Its been a week since I bought my Prius from Toyota Marin (San Rafael) at OTD $24,341 (price: $22,300) with 2.9% financing for 60 months. Contacted dealers all over the bay area from edmunds.com and got the lowest OTD quote. The folks at Toyota Marin matched the figure and had the right color combination for me. They also did not try to force me into any extended warranty/insurance etc. Pleasure to deal with them. Now just enjoying the ride :).
  • dc94587dc94587 Member Posts: 12
    Looking for a combination D (pkg 5), non-touring at Northern California, Bay area. According to msn.com auto, invoice price for the base car is $20419. Pkg#5 (NL) invoice is $4293. Eco-Nomic discount starting Apr 3 is $2000. So my target price would be $20419+4293-2000=$22712 and that is before the destination charge of $620, license, doc fee, and tax on $22712. That should be $25382.xx OTD, right? Then I might still get $780 tax credit next April 15th.

    Any comment on whether I can drive my dream car out of the lot at this target price?
  • carlstraubcarlstraub Member Posts: 50
    Hi,
    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
  • carlstraubcarlstraub Member Posts: 50
    Hi,
    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
  • dc94587dc94587 Member Posts: 12
    Right. Agree. I will not get at invoice price AND the $2000 discount. $2000 discount is for those who don't get the invoice price OR if you get the $2000, they want to sell at MSRP.
  • cruising7388cruising7388 Member Posts: 125
    IMO, the smart way to pay cash is with a credit card as long as anything you buy on the credit card was something you would have been willing to pay cash for anyway. And of course you want to pay it all off by the settlement date to avoid usurious interest rates. BTW, do you know what they call credit card customers in the bank trade who pay off their balances without accruing any interest? They call us "dead beats" !!!!

    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.
  • mikenishmikenish Member Posts: 2
    Just bought a 2006 Black Option 6 touring model with XM Satellite radio and tinted windows for $27,761 at North Park Toyota of Boerne, TX.

    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.
  • pathstar1pathstar1 Member Posts: 1,015
    I've had two different car dealerships here in Edmonton tell me they don't take credit card purchases, though they do accept its' use for "hold money". I guess they don't like paying the banks the 2-7%.
    Otherwise, I'm with you on your comments. From another "deadbeat". ;)
  • cruising7388cruising7388 Member Posts: 125
    I think that the acceptance of credit card transactions is at the discretion of the dealer but I don't think they can selectively deny it. Whatever the policy, it has to be applied uniformly or they face some potential legal difficulties. As a practical matter, I would first establish the vehicle purchase price and only then would I indicate that I wanted to pay a portion on the credit card. If they refused I would tell them to have a nice day and take a hike.
  • dc94587dc94587 Member Posts: 12
    Ok. Bought a black pkg 5 non-touring for $23685 last nite. With doc/tax/license, total came to $26K OTD. Hope I can get the $780 tax credit next yr. My search for good deal is over and hope I will really save some gas money now.
  • cruising7388cruising7388 Member Posts: 125
    That is outstanding! We paid $27,764 before tax and license last March for a Prius Package 7 which feature wise is virtually identical to a 2007 Package 5. We did qualify for the $3150 credit but if you look at your bottom line, you are still dollars ahead in outlay, plus you have one year less depreciation than we do.
  • norskeymannorskeyman Member Posts: 8
    I also bought a new Prius with package 6 on March 31st. I rushed it a bit to qualify for the bigger tax credit. However, the list price of the package 6 dropped $2,000 on April 3rd, so I feel I got left out. Are you sure you got the Option 6 incentive price on a March 31st purchase?

    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
  • acdiiacdii Member Posts: 753
    4/1 was the last day for the special financing on the Prius, so the incentives would not have been applied had they even known about them. Figure it this way, which costs less, a $2000 incentive, or 2.9% financing? Over 5 years, the financing on my base+1 is less than $1500 over 5 years. If I didnt get the special rate, the standard would be roughly 6.9% or higher. I think I came out ahead and would prefer the lower financing. Getting both would be awesome, but dealers dont normally do that unless the manufacturer allows it, and most do not, it's either or. Rough guesstimate is about $2200 diffence between 2.9 and 6.9%.
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