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Car Buying Advice - Getting a deal on a 2017 Prius Prime

gethimsomehelpgethimsomehelp Member Posts: 1
edited August 2017 in Toyota
Hello I am buying a new car for the first time because my car was involved in an accident and totaled. I have until Monday to find a new car so I think I am going to go to a dealer for the first time. No one has any real advice for me and I dont want to get a bad deal. I have read a lot online about how you can go into a dealership and really haggle the price down but I am looking at something a little different. Hopefully someone can help. So I am really interested in the prius prime which has only been out a year and has been discontinued in the southeast. I did find it though in New York. Also in NY they are running a incentive of $3500 off MSRP. The weird part is that the standard version of the Premium edition has an MSRP of $28,900 but they are selling it at $30,200 then taking off $3500. I live in NC so I would have to fly there to pick it up. (super cheap flight) My question is could I haggle the price down further then have them apply the $3500 off? Let me know if what I said is not understandable. I have also thought that if the prius prime cannot budge in price then I will have to start looking to buy a original prius. Let me know if you have any tips and thank you for everything.
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  • BlakeBlake Member Posts: 63
    Hello @gethimsomehelp The Prius Prime Premium has the same MSRP in NC as it does in NY. The $28,800 is the price before shipping is included, bringing the total MSRP to $29,685. I would imagine the Prius in NY has a few little options which is bringing the MSRP to $30,200.

    With regards to your idea of purchasing the car in New York and taking advantage of the $3,500 dollar rebate, unfortunately you will not be able to do that. Rebates can only be used by residents of that area. The only rebate on the left-over Primes (if one can be found) in your area is for $1,000 dollars but you must be currently enlisted in the military.

    I believe your idea of purchasing a regular Prius might be the easiest course of action. I would use Edmunds True Market Value to make sure you are paying a fair price. Edmunds True Market Value or TMV pricing is a powerful tool that helps shoppers get a good deal on a new or used car. Based on actual sales data, TMV is a guide to what other people in your area paid for the same car. You can build, price and obtain TMV on any car with the link below.

    •https://www.edmunds.com/tmv.html

    Please feel free to let me know if you have any questions or concerns.

    Thanks!

    Edmunds Car Shopping Advisor
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  • dengel81dengel81 Member Posts: 8
    My husband and I were looking into the new Prius Prime Advanced last night. I don't think there's any good rebates or promotions going on for this model other than $1,000 off since it seems brand new. Should we wait until the end of this year to see if they would have a better deal?
    Here are 3 different prices for same model:
    1. MSRP $34,209 - Guaranteed savings $1,185 + Dealer fees & accessories $80 = Total before tax $33,104.
    2. MSRP $34,219 + Market adjustment $226 + Dealer Fees & Accessories $80 = Total before tax $34,525
    3. MSRP $34,219 - Guaranteed savings $174 + Dealer Fees & Accessories $531 = Total Before Tax $34,576

    We don't need a car right away, so we can wait. We are in Los Angeles. I don't know if these are final numbers or if there's room to wiggle.

    Based on the above prices, how much would be the lease w/ Zero down? We are thinking of leasing the vehicle, maybe 36/12K or 36/15K.

    thanks in advance.
  • NathanCrumbackNathanCrumback Administrator Posts: 508
    Hi @dengel81, if you can wait, there might be better discounts. Right now it's still selling well and there is no need for them to discount the car. Average discount for the Prime Advance in Los Angeles area is around $75-100 off (not including rebates). Eventually, inventory will need to get pushed off the lots to make room for the 2018s. There is no guarantee that waiting will drastically improve saving but I'm guessing they'll get better as the year gets closer to the end.

    The lease rates are not good at the moment. a 36 mo 12K mile lease on these cars with $0 down will set you back about $600-630/mo.
    Edmunds Moderator
  • lexxluthorlexxluthor Member Posts: 30
    Looking to purchase a prius prime in 13057 zip code. They are offering $5100 off sticker price of 28922. Can you tell me if that is Toyota rebate is locally?
  • kyfdxkyfdx Moderator Posts: 236,810
    lexxluthor said:

    Looking to purchase a prius prime in 13057 zip code. They are offering $5100 off sticker price of 28922. Can you tell me if that is Toyota rebate is locally?

    I show $4000 customer rebate for the NY region.
    So, that's only an extra $1100 off sticker.

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  • lexxluthorlexxluthor Member Posts: 30
    Ok thanks and since that offer they gave college grad rebate and a total of 6350 off but with a higher interest of 5.09% and have to finance through Toyota. The new total out the door is $24, 417. Your thoughts on this will be appreciated.

    Thanks Lexx
  • kyfdxkyfdx Moderator Posts: 236,810
    edited January 2018
    lexxluthor said:

    Ok thanks and since that offer they gave college grad rebate and a total of 6350 off but with a higher interest of 5.09% and have to finance through Toyota. The new total out the door is $24, 417. Your thoughts on this will be appreciated.

    Thanks Lexx

    The rebates are great, but you are giving up a lower interest rate. You have to do the math, and see how that balances out.

    For Tier 1+ credit, you can get 0.9% APR for 60 months, but you have to give up the $4000 rebate.

    I don't know TFS standard APR, so I can't tell you if they are marking up the rate.
    What rate did they offer, before they increased the discount?

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  • lexxluthorlexxluthor Member Posts: 30
    The first offer was $5100 at 3.49% which is almost the exact same amount over 72 months in payment. So really that's no more of a discount with the higher APR%
  • kyfdxkyfdx Moderator Posts: 236,810
    lexxluthor said:

    The first offer was $5100 at 3.49% which is almost the exact same amount over 72 months in payment. So really that's no more of a discount with the higher APR%

    If the payment is equal for the same term, you are better off with the bigger discount, and the higher rate.
    Because, if you sell the car before 72 months, your payoff will always be lower, until it's paid off.

    Also, you can take that big rebate, and after 90 days, refinance with a local credit union for around 3.5% APR. Win/win.

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  • lexxluthorlexxluthor Member Posts: 30
    Thanks kyfdx your help is greatly appreciated.!
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