Negotiating a good price
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!
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.
Save a bunch
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.
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!
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.