Am I getting ripped off?

[kenora]

Best I could do on a 2009 Yaris 5 door LB automatic with the enhanced convenience package with Toyota 3.9% financing over 60 months with 0 down was $260 a month, that's taxes in.

The price was $19540 or so (don't have the paperwork with me).
I haven't signed yet so I would appreciate some opinions.

I got a center armrest for free (whoopee) and the dealer is keeping the $250 gas card.

That deal was in Winnipeg.

I see US prices around $14k... even with the diff in the dollar it looks like Toyo Canada is ripping me off.

[frownonfun]

doesn't sound too bad to me but then again i financed at 12% interest.

[nemelek]

I am not sure what "that's taxes in" means. I am confused with the math. With 0 down$260/month X 60 months = $15,600. Total. I am not sure about Canada exchange rate but it sounds like a good price.

If you were financing 19,540 at 3.9% over 5 years your payments would be $359/month. That sounds high.

Shop around.

[transtron]

i brought mine three days ago. payed 16435 in ny.

[jambo101]

Originally Posted by kenora

The price was $19540 or so (don't have the paperwork with me).
I haven't signed yet so I would appreciate some opinions.
That deal was in Winnipeg.
I see US prices around $14k... even with the diff in the dollar it looks like Toyo Canada is ripping me off.

That price doesnt seem out of line with Canadian prices.I paid $19,233 out the door for my fully equiped 08 sedan,then the govmnt sent me a $1000 eco rebate cheque a few month later. Trying to understand US/Canadian pricing differences can be very confusing,a lot of people do buy stateside then import the vehicle back into Canada but the savings really only benefits the high end cars.

[kenora]

the $260/month is the lease payment over 60 months with the PST and GST included for the lease, the buy-out at the end of the lease is $7600.

[frownonfun]

never lease

[kenora]

Originally Posted by frownonfun

never lease

WHY?

[frownonfun]

idk ... i just never would... aren't u essentially renting a car for 60 months then making a huge down payment at the end if you wanna keep it? that just seems silly. what if you don't got $7600 to buy it out at the end of the lease?

[nemelek]

If you own a small business leasing isn't bad. The payments could be treated as an expense. For the rest of us it usually isn't a good deal. In your case for example. 260 X 60 = $15,600. If you had $7,600 at the end of the lease and bought the car it would cost you $23,200 total. If you bought the car for $19,540 @3.9 for 84 months it would cost you $22,360. You would save $840.

[IllusionX]

it depends what you really wanna do with the car. I financed my Echo hatchback, back in 2005 which was a stupid thing, because of the higher financing rate. (2.9% lease, and 3.9% finance)

I'm truly getting ripped off with my yaris sedan now. the price was about 23500$, i'm leasing it on 60 months@6.9%. that's 362$ a month and a 7600$ buy back. Too bad, because i cannot afford more than that.



back to topic. 260$ on a lease is about the price. @ 2.9% i think it was 230$ or something around that. If you can get the same interest rate or less on a financing, you should be paying around 370$ a month on a 5 year financing.

[MUSKOKA800]

Originally Posted by kenora

Best I could do on a 2009 Yaris 5 door LB automatic with the enhanced convenience package with Toyota 3.9% financing over 60 months with 0 down was $260 a month, that's taxes in.

The price was $19540 or so (don't have the paperwork with me).
I haven't signed yet so I would appreciate some opinions.

I got a center armrest for free (whoopee) and the dealer is keeping the $250 gas card.

That deal was in Winnipeg.

I see US prices around $14k... even with the diff in the dollar it looks like Toyo Canada is ripping me off.

I can't comment on your Winnipeg price but will say that comparing CA prices to US prices will only frustrate you (and me). Even when our dollar was higher than the US buck we still paid substancially more for cars, and pretty much everything else, but food.