Negotiating a good price
Created January 10, 2007, at 8:15 pm by VTRepresent
I'm steps away from buying a new Camry Hybrid, and I'm looking for any advice on how to negotiate the price down. Acknowledging that the Camry's are hot commodities, any tips on how to negotiate the price down from its MSRP? This is my first new car, so I don't have much practice!
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Well no thanks to anyone on this forum, I just put a deposit down on my new Camry Hybrid. It was built two days ago and should be here in a couple of weeks. I can't wait!
Unfortunately, the Camry hybrid is so popular that you really aren't in a great position to use any of the normal new car negotiating techniques I usually used (back when I used to buy normal cars).
I hope you did ok with the pricing.
You may not be able to negotiate down from MSRP, but you can save thousands by refusing to let the dealer sell you crap you don't need. :D
I'm talking about extended warranty, pinstripes, and undercoating here. If you like the floor mats that come with the car, fine. Otherwise, you can get mats at an auto supply store for much cheaper. If you have a gravel or mud driveway like I do, get the regular mats and then buy cheapo plastic mats to protect them.
Because you ordered the car ahead, you should be able to make sure that the dealer doesn't throw a pinstripe on it or spray undercoating that you don't need. Pinstripes are just decals that eventually peel off and look bad anyway. And while it may sound good to have your bottom protected, the undercoating really doesn't do much. Keeping it clean (go through a touchfree carwash regularly) will do more.
Get your own financing from a credit union, too, since you have time. Credit unions usually have the best interest rates and lowest fees around. The dealer may have low-interest financing, but look closely at the fees.
Good luck!
I did very well by purchasing my Camry Hybrid on the last day of the month. Dealers are apparently alloted a specific number of the cars each month. I have been told that any car still on their lot at the end of the month will not be replaced the next month. So by having a car more than a month means they will get fewer Camry Hybrids to sell. I found this to be true and got a fully loaded Camry Hybrid for only a few dollars more than the basic model. It is certainly worth a try. I had done my homework by visiting many sites like Edmunds, etc. to learn the MSRP and invoice prices plus what the average buyer was paying in my area. Based on those figures, I did well by shopping when I did.
i got a quote of $500 over invoice price, there is plenty of bargaining power
I bought my new 2006 HCH on New Year's Eve 2006; just over two months ago. I live in the LA Basin where we move a lot of cars. This car was a leftover 2006, one of two that I saw on the lot. Even with unneeded fog lamps and mud guards, I got mine at $300 under invoice. There is no doubt in my mind that the dealer had some incentives to sell it below invoice.
It is sad that when gas went up to $3, everyone in CA panicked. When it came back down to $2.50, they went on to buy and drive big SUV's. That is when I made my move! It was good timing on my part! :D
Of course check prices first and compare prices for other manufacturers vehicles that are similar. Even if supply is tight, your strongest bargaining chip is to see if you can get a better price at another dealership. That way you can be firm on your offer. Start somewhat below invoice and see where it goes.
You don't have much to lose unless you're extremely desperate to get the car right then, right there. And even if you are desperate, put on your poker face and bluff a little. The only way the price will come down is if you give them a good reason for it to come down.
Last week I contacted 3 dealers through cars.com. I also contacted http://www.fitzmall.com and asked for a price on a Magnetic Gray Metallic Camry Hybrid, cloth Ash interior and the following options:
(FE) 50 STATE EMISSIONS
(HM) HEATED MIRRORS
(SR) PWR TILT/SLIDE SUNROOF
(CF) 5-PIECE CARPETED FLOOR & TRUNK MAT SET
The sticker price was $27989.00. I pick up the car next Tuesday for $26,028 plus my area sales tax, document fee and title fee.
Fitz had a better price but I would have to fly into Dulles or BWI airports, take the Supper Shuttle van to their door ($37, the last time I checked) and drive the car home. If I flew in on a Saturday morning, I could be home that night for dinner. The flight was ± $400.00 and the hassle of driving (400 miles)and getting the car registerd in my state was too much.
The whole experience from requesting prices to signing for the car was 48 hours!
Good luck.
I purchased my new Camry hybrid saturday and was only able to get $200 off sticker (which was msrp). Since I was already prepared to pay msrp, this was fine by me.
Fitzmall has my car about $1200 over invoice. I got mine from Darcars Silver Spring for $900 over invoice at an even $30k.
Got mine today for $3029 off MSRP/Sticker price ($30929) in SJ, CA...fully loaded...about $400 over invoice...could probably still do better but could live with that...:)
Here in NJ I did a lot of calling and emailing (after doing all the research, of course.) MSRP was $28,132. Sale price best was $25,626. Pretty good--about $500 over dealer cost. The sticking points here in NJ seem to be: 1) the resdual they all use and 2) the money factor. On the former, despite industry estimates of 63% residual value (whch would make this car worth $17,640 at lease end), no dealer in Northern NJ will give over $15,800 residual. This makes the lease more expensive for starters. On the latter, money factor, I couldn't get a firm answer. I had several lease quotes based on those kinds of numbers. With tier 1 credit rating, my best price was $457 a month with a TOTAL of $750 down (includes tags and 1st month; 7% tax is included in each monthly payment. Another dealer had $500 down but $471 a month. Hope this helps any who are looking.
I am in N. Calif and paid $239xx + taxes for my 2008 TCH with Upgrade option (JBL Premium surround, bluetooth, 16" alloy, all 5 mats, cargo net)
I discovered this site http://carcostcanada.com/1/en/feedback.asp
before I bought my Camry. Judging from the reaction of both the credit manager (I think thats what his title was) and the saleman I was dealing with, Im pleased I used the website info. The main thing that this site offers is giving the dealer price for the car you are interested in. Just printing out the sheet for the Camry Hybrid and showing it to the dealer seemed to impress (or intimidate) them. My impression it that its not that easy to haggle to get the best price, as often the dealer kind of wants you to commit to your offer. However, having this piece of paper reduced the amount of haggling that needs to be done. And at least you kind of know where to start rather than letting them start the process
negotiating the price for a camry hybrid also depends on where you are getting it from. toyotas tend to be a bargain in the midwest region (metro detroit area) especially because they got stiff competition from competitors (not neccessarily a hybrid vehicle). sometimes, a slightly longer drive gets you a better price.
I recommend using CarMax.com for a new Camry Hybrid price quote. There are dealers in certain states that participate. A fully loaded 2008 Camry Hybrid can be had for $28868.00. Sticker is $31,119. That represents a savings of $2251.00. Granted the participating dealers are in Kenosh, WI (Milwaukee) and Laurel, MD (Baltimore). That represents a savings worth driving for or you can use the information in an attempt to get the best price from your local dealer. Other Camry's w/less options can be had for heady discounts (relatively speaking). If this link doesn't work, just go to carmax.com and find your way:
http://www.carmax.com/dyn/search/searchresults.aspx?N=4294966438
You may have to copy and paste the url in your browser window.
It is worth checking out
Good luck.
- Dan
My fiance leased an 08 CE hybrid with ALL options (leather, nav, bluetooth, roof) for $440 including tax last night. Lease terms were 39 months 15k/yr. All inceptions were rolled into the lease so it was a true sign and drive. We probably could have grinded a few more dollars out of the dealer but I felt it was a fair deal. (King Toyota Dearfield Beach) The price used for cap cost was invoice. Any feedback would be welcomed.
PS stay away from JM Lexus. They use old school scumbag tactics.
I just purchased a 2009 Camry Hybrid with leather, navigation, sunroof, heated seats, and floor mats. The MSRP was 31,781, and I paid 27,439, which was under invoice. I had submitted a price request to carsdirect for a car with leather and navigation, but no sunroof or other options, and they quoted me 27,439. I then emailed a few dealers I knew to see if they could beat that. The dealer that we bought our Prius from in 2006 said he only had the car with the sunroof, but he would match the price from carsdirect. We drove down that evening. I think with the sagging economy there is more room to deal.
We boubht a Jasper Pearl 09 TCH yesterday--researched for while and shopped this week testing Hybrid Camrys, 4s and V6s, new Malibu and the new Honda Accord V6 top of the line sedam XLE--
there was lot of punch in the Malibu and the Accord V6 but that engine really is notiicible in the variable speed transmission shifting on freeway -- at least in that car--my husband has a new Tahoe with the variable speed and there is nothing noticible about it but the light going on and off...
we drove a loaded 4 cyl Camry and could have gotten it at 4100 discount from sticker due to special discount from the Gulf States area Toyota wholesaler (according to the sales manager we were talking to) before we even started talking trade or any other dicounts...
Carmy hybrids must be popular in my area--DFW, TX--that dealer had none on the lot, the dealer we bought from had only 2, and the first place we went had 3 but none with the leather interior package I wanted---I had sent out Internet quote requests and one guy who responded from dealership in Irving told me that there were no discounts off list price--when I told him that a dealer offered a 3000 discount trying to sell me a car I did not really want (grey leather) without even serious negotiations--he was taken aback...of course THAT dealer was not really serious--was not gong togive me anyting for my trade-in...
We got offered 31968 car at 30000 from another Internet request so we went to talk to that guy and drive the car--we got them to up the trade offer and give a little on couple of options we wanted--so we felt pretty good---
they made some money but it was the first of the month and no real incentives--we were not fiancing --and we had a difficult time getting a tan leather with options we wanted...
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