New Corolla - Purchase price

[notmytarga]

I am in the market for a 'simple' car for my daughter to use at college.

College girl(s) - car needs was helpful to narrow the decision. I have settled on 'letting' the older daughter, who graduates in two quarters, continue using the 2006 110K miles Sonata. The plan mentioned in that thread was to 'gift' a usable young car to each before setting them off to financial independence. The older girl will get her 'gift' in a few years using the residual Sonata trade in value.

The prices for a reasonable used car (low miles, reliable model, economical) - are not far below or at the prices I am seeing for a 2013 Corolla. I am told the model is being updated and the dealerships want to sell the 2013's before the 2014's arrive.

Over the last three weeks my wife and I have wandered onto the lot, talked to two salespeople, took a short test drive and checked the internet and newspaper ads. They had 16 (at this price!) LE Model, three weeks ago. We were told that a used car lot bought 6 three weeks ago because the price was so good. The sales price implies the price is only good on the F-Sun weekend. If I were buying for me I would want Alloy wheels and Auto Climate control, but otherwise these are nicely equipped.

New 2013 Toyota Corolla AUTO For Sale | Redding CA

Below are pictured two print ads from Friday's papers - One from the SF Chronicle and the local ad (Model 1838):



There is also a $1000 college graduate rebate through Toyota- requires graduation within 6 mo in future (applies to older daughter) or past two years and a job. Seems to require financing as well - not sure if there is a chance that I can make this apply as well. Might requiring sacrificing this new car to the older, less careful, daughter.

Some questions:
Is there any likelihood of the dealership accepting a lower price or are we at rockbottom?

Reasons I think they would accept less: The SF dealer is asking less, they have a bunch of them (especially in Super White) and they are apparently not moving. I suppose they could be bringing in new inventory and selling more than I realize (I am not comparing VINs from their website etc)

If I should offer less - how much? Will going with White get me a better deal?

What does the Pelican Opinion Pool think?

[Noah930]

I'd make an offer for less than the advertised price. What do you have to lose? Ask them to meet or beat the SF dealer's price and see what they say.

Take a look at Edmunds to see what they say TMV is for this type of car in your region.

[Steve Carlton]

You're most likely to get the best price on a loss leader, like in the ads you're seeing. Dealers won't normally negotiate down to a good loss leader advertised price. Those ads are in there to generate foot traffic and switch the customer over to something else. I'd look around at all the local Toyota dealers' websites to see what specials they're offering.

You're wise to get a Toyota in this situation, but a Mazda or Honda wouldn't be bad, either. I've seen crazy ad prices for Jettas, but I think in the long run they cost more.

[notmytarga]

Another question- This car is not absolutely needed until mid-Sept. Is there any risk utility is waiting longer? I think there will be some white ones available for a while. They have a red, black, silver and multiple whites.

[Dana Norris]

I would wait the, 2014 Corolla is a new car and from what I have read in the Car Mags,quite
improved. If there are any 2013 models left they will have to nearly give them away.


just my .02

[john70t]

That's a good price.
Nobody gives away nothing.

The paranoid in me wants the following answered:
-Are these flood-damaged salvage titles from Fla/Tx/La dealerships, with the paperwork washed in another state?
-Why so low? There are plenty of venues in the USA to sell extra cars.

[Scott Douglas]

Check out truecar.com if you really want to see what they're selling for.
We bought two Hondas last weekend, kind of spur of the moment but according to TC we didn't do too badly.
Having good credit helped a lot, and making sure they knew we were ready to walk out if they didn't meet our demands.

[Cajundaddy]

Arrange your own financing in advance to use as needed so you have choices. Confirm the price online and don't expect much lower on these loss leaders. I'd grab one soon. These are in fairly low demand right now which is reflected in the price. The 2014 model will be in higher demand at a significantly higher price.

[Chocaholic]

Went with a Hyundai Elantra for our daughter. Spec'd out similar to the Corolla but 10 yr 100k warranty, a bit more "stylish" and priced comparably. Just a thought.

[notmytarga]

The truecar site is a great help to answer my original questions (thanks! Scott )- indeed these prices are good. I don't consider this a loss leader - if it was they would pick one of the many Corollas and price it even lower and tell you someone swooped in and already bought it. Instead there are a bunch of them and they are all priced the same. They have little in the way of inventory to move us up to except to go to Camrys, Avalons etc at significantly greater price. They do have some L Models on the lot but those are priced higher than these sale cars and are missing Bluetooth steering wheel controls, cruise control!, heated mirrors, and have 15 vs 16 in wheels. I can't have my girls suffer with that - especially for the greater price (before haggling). We don't have a Hyundai dealership in town - but the Elantra and Sonata would be attractive options.

[Steve Carlton]

TrueCar will give you great starting points, but their prices are not necessarily always the best. Carsdirect.com is another good resource, and kbb.com will give good pricing advice on current model years. Still, there's no substitute for the insanity some sales manager will apply to a bona-fide loss leader. If you're up to speed on best pricing, you'll recognize it immediately. You may have to be at the dealership as they open to get the car as well.

[aigel]

Have you driven the 13 Corolla?

I did, last week, as a rental. 6k miles on the clock. It was a terrible terrible POS:

- Tupperware cheapo interior
- Camping chair seats
- Jerky steering
- Terrible handling in turns and on braking
- Funny shifting transmission
- Feels like it has half the power advertised

I would very much look at all the alternative cars, or wait for the 14 model. This Corolla has definitely jumped the shark, especially compared to its competition.

G

[aigel]

As far as the price goes, go to KBB and find out what the dealer invoice is. If you can get it at that or below, you are good to go. I did a lot of shopping on my TDI Golf, but ended buying it at $300 under invoice. There was about 1.5k between dealerships, so a little driving and negotiating was worth the hassle.

G

[weseeeee]

I agree with aigel. I use the kbb value of the car to negotiate the new car price.

[notmytarga]

An update. The pricing on the Corollas was just too good. From what I could see using the local and national Toyota inventory sites, the local dealership had 11 of the 44 Super White LE Corollas available for sale on their lot. But the price wasn't going down as they sold them in preparation for the 2014 model.

I took my older daughter down for a test drive last Friday while the younger was at work. We searched the lot for all the color and interior options. That afternoon I went over the inventory and found that they had some "J" VIN numbers - meaning they were built in Japan. Better?

On Saturday the 19 year old and I went down to look them over and found a White LE with black carpet and beige seats. We test drove the LE. She also looked at the S model. She liked the bolstered/non-velour black seats and black interior. I liked the alloy wheels (wheel covers are a liability!). I didn't like the faux ground effects - never have. I asked if anything was done to the engine or suspension - the salesman agreed with my guess that they had a stiffer sway bar - not true.

I woke up Sunday and proclaimed to my wife that I couldn't stomach the ground effects. Well - we test drove the S and it suited her and me just fine. The fog lights and alloy wheels makes it worth the extra $1000 (the two S's that they had were on clearance too for $16495) We test drove it home to get Moms approval and she is happy and I have a reliable, inexpensive car in the fleet.

Thanks for the help getting this decision made!

[Cajundaddy]

Job well done!

[aigel]

Nice - did you drive it? I am sure it was impressive.

It'll make a good appliance, no question. And yes, I think the ground effects are ridiculous. Real contrast to the what? 195 with tires? But good you have alloy wheels - I can't stand the plastic hubcaps. If I'd buy a bare bones car, I'd pull them off and paint the steel wheels silver - done.

Cheers,

G

[porsche4life]

Good choice... I've got a barebones CE, '07. It's even got a stick shift! I've put 60k on it driving it all over in all conditions. All I've done is oil and filter changes and a new serp belt and roller at ~55k and that was only because I had a long trip coming. Great car, boring as sin, but I know it will always start and get me there comfortably and get about 32-35mpg while its doing it.

[Bill Douglas]

She will love it.

Corollas arn't just the world's most popular car they probably are the most reliable too. I'm onto Corolla number five now and love them.

Also, that model with the factory alloys etc will have better resale in the future too. All good

[scottmandue]

Good job! That is a great price... yeah it is not a drivers car but I'm sure you will get many years of service out of it.

Car dealers are... I dunno... run hot and cold... some days you walk on the lot and they treat you like dog poo... other days they are humping your leg... IMHO when you see a deal you should jump on it.