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  1. #1
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    May 2007
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    Starting Price at Dealership?

    I've never set foot in a car dealership before, and I'm thinking of buying a car this August. For a 2007 Prius, what's a reasonable price to start negotiating at a dealership? (Let's say there are no added options...) Is $21,000 a laughably low price to start? Any advice would help! Thanks.

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  3. #2
    Junior Member
    Join Date
    May 2007
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    base price

    Congratulations and welcome to the real-world university.
    If you are interested in buying a new 2007 Toyota Prius, before you set foot to the dealership, even before you finalize the purchase decision, you need ask yourself where the $$ will come from to pay for it.
    No doubt, since you are a newly graduated, Toyota and Honda will give you a preferred APR, but remember to bring your degree along when you buy. It's a must, otherwise, they will not take your words for it.

    If you have set your eyes on 2007 Prius Base without extra option package, you need do some research around your neighborhood dealership whether it's available for real. One thing Toyota that really annoys me is the regional distributor pre-installed certain "accessory package" - A, B or C. You have to take it, or you have to wait months or never to get one without. I waited for 10 days to get my 2007 Prius Touring with package #6 and accessory package A, simply because I have no desire whatsoever to pay 495 dollars for XM package. I might have to wait longer if I told them I want certain color or refuse to take that accessory package A.

    If you do have the budget, don't forget you have to pay for TTL ( Title, Tax and License ) which may very well cost another 2000 bucks, they usually don't like to finance this portion and would like you to pay for it either by cash or credit card.

    College kids these days should be comfortable around doing research online, check carsdirect.com, autobytel.com, cars.com, Yahoo Auto ( a good one and tell you all the regional accessory package cost ), and AOL Auto. The more you browse and learn, request quote not just from your nearby dealerships but also from the dealerships within your state limit ( driving 1 to 2 hours ), you should be able to get some good deal. My friends got their Honda minivan from a dealership in Houston, the dealership basically used the carrier to carry and deliver the cars at their front door, no joke.

    Anyway, good hunting.

  4. #3
    Junior Member
    Join Date
    May 2007
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    Prius dealership experience

    Hi College Kid,
    I really screwed up my first new car after college because all major dealers offered Zero down and 90 days no payments to a college graduate with proof of decent employment. I walked into a Pontiac dealership and bought a brand new Fiero GT for $14k msrp in 1985 and thought I got a good deal. 22 years later I have a little more experience (that 1985 experience cost me $364 a month!!!).
    You should try edmunds.com and do research on the cars you're looking at. Find out what the delear invoice is, what the msrp is and what $500 over invoice is. That's the price I try and get. Sometimes you can get a dealer to email you a quote. I've printed quotes and walked into my local dealer and asked if they'll price match. Works almost every time.
    I bought a hybrid over memorial day weekend. I narrowed my selection down to a basic Prius and a basic Civic hybrid. Both are about the same price. I went to my local Toyota dealership (where I bought an -02 Tacoma truck new, and paid off early) and got sick from the arrogance. My salesman went to see his manager to see "what he could do for me". He came back with full msrp, extended warranty, lojak, and a very insultingly low trade in value for my car and the arrogance to tell me that if he backed off full msrp then he expected me to sign that very day. I left. The next morning the memorial day sales started and two other toyota dealers advertised Prius' for $3K off MSRP!!! That works out to be $500 over invoice. I was so steamed at Toyota that I just went to Honda. Honda gave me their car for $500 over invoice with no haggling ($21,600ish). They gave me $2K more for my trade in, then they asked me if leasing for $215 a month X 36 months would be a better option (totally different thread for that, but for me it worked, I only drive 10K miles a year).
    I was dealing with two other Toyota dealerships via email and am sure the Kearny Mesa Toyota experience I had in San Diego doesn't reflect on them all, but if you went to this dealership they'ld be all over you telling you that since you're fresh out of college you probably have a lot of loan debt and you aren't making a ton of money and blah blah blah. Total intimidation factor.
    Try and get a quote for $500 over invoice and use that for bargaining power. The Prius is a fast seller so they really don't have to negotiate a lot. Hopefully you live in a large enough area to have more than one dealership to deal with.
    good luck!

  5. #4
    Junior Member
    Join Date
    May 2007
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    0

    Invoice VS MSRP

    Just want to second previous post.

    I actually paid below invoice for my 2007 Prius Touring 3 weeks ago.
    There is no trick, but knowing this, Toyota from time to time to give their dealership "incentive" and "rebates", therefore, using Invoice price is not most accurate but close enough.

    Prior my purchase of Prius, I also considered Honda Pilot, I also received below invoice quote from couple dealerships out of town ( about 30 miles away from my location ) and knowing I am qualified for 0.9% Honda finance.

    Even though I bought a Toyota, I still love Honda because their price structure is much straight forward without hidden cost.

    Test drive several cars, and decide what meets your needs the most, do the research online, and it won't hurt to see if you can get some pre-approval from your local credit union because from time to time, credit union offers good APR as well. You have one year after your graduation to take your new-grad APR, unless you desperately need a new car, otherwise, wait until end of model year is another good time to buy which is another 3 months away only.

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