Deciding on a yaris- purchasing choices and haggling woes

[KorJax]

Hey everyone, new here. Thoughts I'd get the experts thoughts on a potential new Yaris purchase I'm thinking about making.

I'm in the market for a subcompact like the Yaris, and I just got back from test driving two of them today, and was a big fan. So I think I'm pretty sold on a yaris - though I wouldn't mind something like a Mazda2, I simply can't find ANY within 300 miles of me that are manual and cruise control compatable.

The first one I test drove was selling a 2007 manual 2D hatchback Yaris for $7700 with 109K miles on it. I'm assuming this is pretty over valued by quite a bit considering the bluebook value of the car is only $6K assuming everything was flawless. I would say its not - it needs new tires in 20K, the battery had a good bit of corrosion on it and it simply didn't drive as silky as the other yaris I drove, but it was still pretty good (though that might be because the other yaris was a newer generation). It had all the works EXCEPT cruise control, which is a major downside for me. However generally other than what I mentioned it was super nice looking. I'm looking at trying to get the price down to $5600, which is the blue book value assuming everything is in "very good condition".

Do you think its a good idea to go for a car like this? I'd much rather pay a little bit more for a newer model with less miles, but I'm afraid this is literally the only option in my state that is manual. I simply don't want to be in a position where I'll have to do a major or somewhat major repair within the next 4 years, and the milage doesn't put confidence in my head. But, I hear these are reliable cars so who knows - if I could make it to 150K without having any serious issues I'd be ecstatic. The good news is my monthly payments for such a car would be cheap assuming I got it for $6000 after tax (about $60-70/mo). The other major issue with it is lack of cruise control - this is a must for me. I hear they are easy to install aftermarket, however I don't know if this works for the 07 and if it'll work for manual. Am I out of luck here?

The only other Yaris option within 200 miles of where I live (short of getting a like-new one at a dealer) was a 2011 manual Yaris, 4D hatch with 75K. I was really REALLY sold on this one when I drove it and it was in excellent condition with cruise, but the seller demanded an INSANE $10500 for it, well over $2.5-$3k over its bluebook value. He tried to butter it up saying it was a practically new car and "that the market dictates the price and this is the only yaris like this" but I saw right through the BS. Sucks, because it would have been an instant purchase at a less sleaze-ball price (if I'm paying $10K for a car, it better be not more than a year or two old and not more than 50K miles).

Should I just wait it out another few months? These are the only manual yaris's I can find in my state that is under $10K in price, so my options are limited. I was a big fan of the 2007 one, but the age+milage+lack of cruise is a big concern of mine. Should it be?

[IllusionX]

The 2007 can be modified with cruise. You can search the forum and microimage for the DIY and parts needed.

Otherwise, there is a member here selling his 2012. I'm not sure if it is manual though. But it is definitely worth checking out the classified section before you venture into a huge road trip to get the car you want.

[JustPassinThru]

If you can find a new one...with the financing programs they have today...you'd be foolish not to go for it.

Toyotas hold their value. Flip side of that is, you find yourself paying top dollar for a vehicle which is halfway through its useful life. Normally, buying late-model used is the best plan...but not today; get a new one if you can get financing.

[KorJax]

Financing isn't a problem, the price is.

I can get approved for a low interest loan at my credit union since my credit score is excellent. However, I'm still a college student (one year to go!) with a part time job and a good chunk of money saved up. I'd honestly jump the gun at spending $12-$14K for a current generation lightly used/new model if I had a "big boy" job but I simply can't afford to do that. This is why I'm leaning towards spending no more than $6-$8K - at that price point I can keep my monthly payment at or under $100/mo so I should be able to afford it even if I find myself still working my part time job after I graduate for a while.

[JustPassinThru]

Financing isn't a problem, the price is.

I can get approved for a low interest loan at my credit union since my credit score is excellent. However, I'm still a college student (one year to go!) with a part time job and a good chunk of money saved up. I'd honestly jump the gun at spending $12-$14K for a current generation lightly used/new model if I had a "big boy" job but I simply can't afford to do that. This is why I'm leaning towards spending no more than $6-$8K - at that price point I can keep my monthly payment at or under $100/mo so I should be able to afford it even if I find myself still working my part time job after I graduate for a while.

Well, when you buy used, you pay a higher interest rate.

You have one year to go? Twelve months. Look at the difference between your monthly payment on a 0 percent finance plan, and the payment financed through the CU at about 8 percent.

If you go the credit-union route, you will have to put up a down payment. If you get special-program financing, you may get nothing down. Use your would-be down payment to make the higher monthly payments.

I hear what you're saying and I applaud your trying to be responsible. But in this case, really, the savings in time and in value received might just make new a better choice.

Just my two cents.

[KorJax]

Thanks for the advice. I qualify for CU loan at 3.39% interest assuming the car is from 2007 (it would be 2.39% if its 2011+). I would much rather put $2-$3K down now for lower monthly payments and lower interest overtime than putting nothing down but paying higher payments and higher interest for the life of the loan.

Still, at $2-3K down the total interest on the loan isn't dramatically less than the 2011 rate for the price range I am looking at (under $10K) - either way I'm looking at $350-$550 total interest paid, which isn't a huge amount.

What I could do is actually just say "eh, screw it" and go for a newer model at a higher price (say $12K).

The newer year and higher price gets me in at a 2.79% rate on the loan, and the higher price qualifies me for a longer term so my payments aren't as high.

The only thing that I question about the above - if I can get a 2007 yaris that has 109K for $6.5K (this is assuming I tack on $500 for a new battery and cruise control install), then is it really worth spending almost $5-6K more to get the newer year/low miles? I mean, I do like the 2007 Yaris I drove. I'm trying to think if its just going to be way cheaper and better over the life of ownership to just settle on paying way less for an 8 year old model halfway through its life, versus paying more right now for the newer model.

[KorJax]

Update:

Found another Yaris for sale the next state over. Sucks, but its only a 2HR drive so its not the end of the world.

2009 2DR hatchback manual, has whiz-bang features like cruise/powerlocks/windows/etc so its appealing on that front. Its also in black, my preferred color (the 2007 one I drove was black with a rear spoiler and I thought it looked really slick).

The kicker is that it has ONLY 15K miles on it. Dealer wants $11,150, I'm going to try and negotiate down to $11K out the door price (post taxes/dealer fees/etc). This is a really appealing option for me, since the car is practically like new. However, I'm over my max budget and way over my preferred budget of around $8K. Assuming my OTD price is $11K, my monthly payments should be $120/mo after my down payment... which while not ideal for me, its still pretty darn close to the $100/mo or less I had as a budget. It having so low miles and being certified pre-owned warrenty means I am pretty darn confident I won't have to do any real work to it beyond basics (like oil changes) while I am paying the loan off for 6ish years.

So I'm kind of thinking... go for the like-new one that has all the features including cruise from 2009 but pay $11K for it (payments around $120/mo), or go for the 2007 one that has significantly more miles (109K) and no cruise, but is also much cheaper and has everything else for around $6-6.5K (payments around $60-80/mo). Both cars look pretty identical condition wise - well taken care of, one owner, garage-stored. As nice as it will be to have a practically non-existent monthly payment on the 2007, a part of me is thinking that it might be much better in the long run to make it so if I'm paying monthly payments at all, it might as well be for a like-new vehicle.

[NEexpat]

KorJax,

Was going to recommend, since it appears you are in no rush, to continue to look around.

A couple of things - New battery and cruise control (DIY, well documented on this site with lots of support, no more than a couple of hundred dollars total).

I would always go older car, less miles. And that is a lot less miles. dealer financing would be pretty low with good credit. Certified used warranty, if I'm not mistaken, is 7 yrs/100'000 miles which ever comes first from yr of car. So you would have a little more than 2 yrs on left on that warranty.

Not a big deal the car is low maintenance, with a couple of well documented issues I.E. water pumps, control arm bolts. Water pump btw is covered on the CUW.

If you can get it for 11k out the door..........................well, you can add a spoiler later.

Cheers, and welcome.

One last thing, always, always be prepared to get up and walk if your not comfortable at all, with the deal, the car, the salesman, the coffee..............................good luck.


EDIT - *7year/100,000-mile Limited Powertrain Warranty2
Coverage begins from the original date of first use when sold as new

[CTScott]

11K for a loaded 09 with that low of miles is not outrageous. One of the advantages of the 09 liftback over the 07 is ABS. Most pre-09 liftbacks did not have it. The 09 also has side curtain airbags, which the 07 does not. Those safety features should actually offset the insurance difference for the newer car.

[JustPassinThru]

If I could make a plug here...my '12 is for sale at $11k. It doesn't have power windows but it's got cruise and air. And ABS and automatic.

I'm in Montana but we can work out shipping. Only 25,000 miles and never seen salt.

[KorJax]

I've seen some "better deals" than the 11K for the 09 with 15K miles, but I'm strictly looking for manual not automatic. Most of the better deals tend to be with those, since the market is more flooded with them :(

That said 11K doesn't sound bad. I'm going to start with 10K out the door price but would not mind 11K OTD price. I really can't go higher than that though, so I'm prepared to walk away and wait a few more months if I need to.

[CTScott]

If I could make a plug here...my '12 is for sale at $11k. It doesn't have power windows but it's got cruise and air. And ABS and automatic.

I'm in Montana but we can work out shipping. Only 25,000 miles and never seen salt.

And traction control and VSC. And who wouldn't want to make a trip to "big sky country" to grab a Yaris?

[IllusionX]

Yaris in the states are worth so much money.... If someone wants my sedan S for 8k, I'd be so happy. Lol

[nortonfb]

Here's a 2010, manual, 52k, silver.
http://annarbor.craigslist.org/pts/4609608310.html

Located in Ann Arbor area, that's a 4 hour drive from you.
If you contact the owner & your serious about it contact me off list.
I get to the area occasionally.

Steve

[KorJax]

Here's a 2010, manual, 52k, silver.
http://annarbor.craigslist.org/pts/4609608310.html

Located in Ann Arbor area, that's a 4 hour drive from you.
If you contact the owner & your serious about it contact me off list.
I get to the area occasionally.

Steve

Bah, CL is down :( can't see the price. I'll have to check it out later.

[KorJax]

Yaris in the states are worth so much money.... If someone wants my sedan S for 8k, I'd be so happy. Lol

Do you drive a manual? It's funny, there are some better deals out there for the automatics around here but I simply want a manual. The problem is, there's less manuals for sale that don't have super high miles within 150 miles of me than there are fingers on my hand! So that might be why.

[IllusionX]

Of course my yaris is manual. Dealer is giving me 2700$ trade in value. I have 88k miles on the clock.

[Exiwolfman]

Of course my yaris is manual. Dealer is giving me 2700$ trade in value. I have 88k miles on the clock.


sell privet, but ya black book is low and yet resale high...so dont trade it in :thumbdown:

[KorJax]

Well, the 88K miles might be why.

There's a dealer near me selling an 07 Yaris with 65K miles for only $7.8K sticker price in manual. I'd go for it but the 09' with way less miles and all the optional features (including split seats) in the color I want for $11K sounds a bit more worth as a long-term purchase... even though 11K is getting dangerously close to "current model year" prices.

[nookandcrannycar]

Just FYI if your situation does happen to change.....there are currently 24 manual transmission new Yari in the entire U.S. (per the cars.com search engine a few minutes ago) --- One 2014 SE, fourteen 2014 L, and nine 2015 L. The 'second and third least expensive 2014s' (I bought the least expensive one) are still available. One of those two is at Toyota of Naperville (319 miles from Dayton). The 14,444 price showing on cars.com does include destination (what I was told over the phone...two weeks ago yesterday, IIRC), so the $14,370 MSRP has been discounted to $13,604.

[nookandcrannycar]

Well, the 88K miles might be why.

I was shocked by the low price IllusionX was quoted. In late January or early February I had a used car person at my local Toyota dealer pull the NADA figures for my Yaris. The lowest rated value was $1,600... but my Yaris had about TRIPLE that 88K (more, IIRC) at that time. The fact that the Canadian dollar is currently worth 91.37 % what the US dollar is exacerbates that comparison.

[nookandcrannycar]

11K for a loaded 09 with that low of miles is not outrageous. One of the advantages of the 09 liftback over the 07 is ABS. Most pre-09 liftbacks did not have it. The 09 also has side curtain airbags, which the 07 does not. Those safety features should actually offset the insurance difference for the newer car.

:thumbsup: Very interesting. I wonder if insurance companies assume (AAA didn't ask me) that the newer car will be the 'primary car') when one person has two cars....and if so, if that would contribute to my insurance increasing only $140 per year for two Yari instead of one?

[JustPassinThru]

Manual transmission Yarii are not gonna be common.

There's reasons. First, this is basically an entry-level car. I like it; you like it; but a lot of young girls buy this car because it's all they can afford or it's all their daddies will spring for.

They want AUTOMATICS. They don't CARE about firm suspension and cornering; they don't even care about the reliability. They bought Toyotas because Daddy pressured them to; and Daddy did that because he saw Toyotas have resale value whereas Aveos do not.

But most of them (and many boys that age, too) have zero interest in rowing a 5-speed through traffic. Add to that guys like myself - older, sure of my manhood; I for one have a CDL and can drive a ten-speed. I really DO prefer the shiftless life, at this point.

So there's MUCH more market for the automatic than the manual. The automatic ADDS value, more than it costs, when the time comes to sell.

FWIW. Of course, everyone should buy what they want; but know what it is you're buying and what later repercussions will be.

[nookandcrannycar]

and many boys that age, too) have zero interest in rowing a 5-speed through traffic.

You may be right, but IMO that is very sad.....almost pathetic.

[nookandcrannycar]

know what it is you're buying and what later repercussions will be.

Good point. IMO, this matters if you AREN'T buying to drive the car until it depreciates to zero or almost zero, as I do.

[JustPassinThru]

Good point. IMO, this matters if you AREN'T buying to drive the car until it depreciates to zero or almost zero, as I do.

Well...people change. Their lives change and their needs change. Oh, man, I've seen this SO MANY times in my life...

Back twenty years ago, I had a career change that was a lifestyle change. I went to work on the railroad.

My car at that point was an old minivan...very cheap and practical. BUT...I had to use MY CAR to traverse railroad yards. MacPherson Strut suspensions weren't designed for that.

I TRASHED that old minivan. And when it got so beat I couldn't ignore it, I bought a Jeep Wrangler. Just the ticket for driving on railroad-yard ballast.

Except...shortly after I bought it, I got promoted. I became a locomotive engineer. Which meant, I wasn't driving across railroad yards anymore - I was driving FROM CITY TO CITY since I was low in seniority and was being displaced, one town to another. Had to accept it or quit.

The Jeep wasn't up to long-distance commutes. It got sold.

And so it goes. When I bought my 2012 Yaris, I was commuting 40 miles to work. Good car for that. Now I'm commuting FOUR miles; and meantime I have a LOT of personal crap to haul as I set up in a new town. I need, now, a truck, not a car.

What I'm getting at is: You may WANT to keep that car forever; but if you wind up with a family and kidlets; or you wind up unable to drive at all, for money or legal problems; or you wind up with a company-provided car or truck...you'll be wanting to sell.

You may not see it coming until it does, but very few people have lives so stable they can keep one type of car from when they buy it new or near-new to where it's scrap.

Good luck.

[enviri]

I would sell my JDM converted vitz rs for 11k@72k mi lol

[nookandcrannycar]

Well...people change. Their lives change and their needs change. Oh, man, I've seen this SO MANY times in my life...

Back twenty years ago, I had a career change that was a lifestyle change. I went to work on the railroad.

My car at that point was an old minivan...very cheap and practical. BUT...I had to use MY CAR to traverse railroad yards. MacPherson Strut suspensions weren't designed for that.

I TRASHED that old minivan. And when it got so beat I couldn't ignore it, I bought a Jeep Wrangler. Just the ticket for driving on railroad-yard ballast.

Except...shortly after I bought it, I got promoted. I became a locomotive engineer. Which meant, I wasn't driving across railroad yards anymore - I was driving FROM CITY TO CITY since I was low in seniority and was being displaced, one town to another. Had to accept it or quit.

The Jeep wasn't up to long-distance commutes. It got sold.

And so it goes. When I bought my 2012 Yaris, I was commuting 40 miles to work. Good car for that. Now I'm commuting FOUR miles; and meantime I have a LOT of personal crap to haul as I set up in a new town. I need, now, a truck, not a car.

What I'm getting at is: You may WANT to keep that car forever; but if you wind up with a family and kidlets; or you wind up unable to drive at all, for money or legal problems; or you wind up with a company-provided car or truck...you'll be wanting to sell.

You may not see it coming until it does, but very few people have lives so stable they can keep one type of car from when they buy it new or near-new to where it's scrap.

Good luck.

The only one of the above that might effect me would be some unexpected issue that might render me unable to drive. If that happened, I would probably donate my Yari to charity, to be sold for their benefit. But I understand your point, and it is largely a valid one :thumbsup:.

[KorJax]

Well looks like the 09 with 15K at $11K OTD is a no-go. Lowest dealer could go was the listed price - which was $12K OTD. On top of that my financing they had for me was approved for a shorter term than I wanted bringing my payments up to $165-170/mo. So, pretty darn outside my budget.

In light of that, I'd be happy with settling on the 07 with 109K if I can get it for $6.5K-ish. Way more miles than I was wanting and its the older year, but at least its $5K less than the 09 car, and otherwise exactly the same - color and all (other than cruise)! I'd need to install cruise on it aftermarket.. which I'm hoping my mechanically inclined friend is willing to do with some payment. I looked up the guide on how to get it done with an 07 manual and it looks a bit out of my league (soldering+wiring=nope!).

Plus, the 07 has a spoiler! Bonus??

EDIT: Managed to go for $6.8K on the 2007, considering I was pretty satisfied with the car when I drove it and the payments will be low on it for me I don't think its too bad. Would have liked lower, but I simply can't find this type of car anywhere here for under $10K. All the ones under $10K are either all the super basic model (manual windows/locks/etc) or have 150-160K+ miles. This was the lowest milage one I could find for under $10K that also had power windows/locks/etc.

[Astroman]

This was posted in the wrong section, moved it. Please remember to post your threads in the correct section. :thumbsup:

[ebaut]

Toyotas hold their value. Flip side of that is, you find yourself paying top dollar for a vehicle which is halfway through its useful life.


Toyotas hold their valué. Flip side of that is, you find yourself paying top dollar for a vehicle which is halfway through its useful life.

Deja Vu