WHY do I want one so bad?

[YarisOwnersDad]

Originally Posted by tomato

What is "dealer holdback" and also what EXACTLY is invoice and how much negotiating room is there around that?

Thanks

Mater:

Hold back is what the dealers make when they sell a car at invoice price. I believe it is normally three percent of the invoice price. Invoice price is what dealers pay the factory for the car, but they get three percent back.


MSRP is "Manufacturers Suggested Retail Price," and that is what you see on the window sticker. "Sticker price," in other words. The difference between sticker price and invoice price is profit for the dealer.

A good way to shop for cars is to make the dealer show you the invoice and tell him what you are willing to pay in relation to invoice price. The dealers like for us to use MSRP as the baseline, but savvy car buyers work off of invoice price.

Tomster

[tomato]

Originally Posted by YarisOwnersDad

Mater:

Hold back is what the dealers make when they sell a car at invoice price. I believe it is normally three percent of the invoice price. Invoice price is what dealers pay the factory for the car, but they get three percent back.


MSRP is "Manufacturers Suggested Retail Price," and that is what you see on the window sticker. "Sticker price," in other words. The difference between sticker price and invoice price is profit for the dealer.

A good way to shop for cars is to make the dealer show you the invoice and tell him what you are willing to pay in relation to invoice price. The dealers like for us to use MSRP as the baseline, but savvy car buyers work off of invoice price.

Tomster

Awesome. Thanks, that helps a lot!

Don't laugh but all this talk about trading in had me doing a lot of thinking lately I'm in no hurry, though, but it's a never a bad idea to be ready. You just never know when a good opportunity might present itself!

[YarisOwnersDad]

Originally Posted by MauiDan

Hi Tom...Dan here...I just bought our 2nd Yaris Auto (no power) sedan in under 2 years. The first was an 07 Flint Mica- love the car and color..last week I bought an 09 (wife is getting the 07 and her old Taurus going to our son).
The 09 is Silver Streak Mica althoiugh another Flint Mica woulda been fine.

I'm 53. I thought this may help you.

I have never bought a car without the dealer going into holdback on it.

That said I have always bought either at the end of a model year or end of a month. I bought the 09 on 3-31-09. Better bargaining position in my humble opinion.

Now back to dealer holdback. The dealer does have more room on your cobalt because in effect if he is selling you the new yaris AT invoice (and ask to see the invoice of course) he still has approx. $275.00 which was the dealer holdback on my 09 auto sedan (with no power just conv. pkg,all weather and mats).

So if he "begs" the trade in guy to go to 8750 on your cobalt then tell him you are going to wait until May...go in on the 29th or 30th of April and tell him you will buy if he goes 8750 on the trade AND goes 200.00 into the Holdback. Or just give you 8950 for the trade and sell the car to me AT invoice.

Hope that helps Tom.

Both times I was under invoice on the Yarii because I refused to buy at or over invoice and played 3 dealers (Bermuda Triangle) against each other in a 45 mile radius. It always works for me here in upstate NY.

Good Luck.

-Dan

Dan:

Thanks for the nice long post. I appreciate your taking the time to do that for me.

You know, I would not lose sleep if I thought that maybe I had left a couple hundred bucks on the table after agreeing to a deal. I don't want to be ripped off, but allowing the dealer to make a couple hundred bucks above his absolute minimum profit margin doesn't bother me all that much, ESCPECIALLY if I am going to be going to that dealership for service after the sale.

I feel that I am ALWAYS treated better in the service departments of the dealerships where the cars were bought. Warranty work has to be done by any dealer, I know, but the dealership service departments where I have bought my cars seem to work with me better on scheduling, and they have also done a lot of things to save me money.

The Service Manager and the Parts Manager have a lot of discretion on what they can charge the customer, and that can be worth much more in the long run than the $200 or $300 one might have saved on the trade by going somewhere else.

Maybe one of these days I will get that Yaris!

Thanks again.

Tom

[bobselectric]

I've seen this thread a few times and finally got the time to read through it. IMHO, the gas mileage part of the argument is an excuse. You don't need an excuse. You are a grown man who likes to trade cars. Nothing to be ashamed of. If you like the Yaris, and who doesn't, get it.
I had an employee that owned the Cobalt SS. At 20k, the little things started to go bad. The clips that held the front end on, didn't. The plastic in the wheel wells cracked and fell off. Every week, he'd come in with another compliant. I'm not saying that all GM cars are like this, or that your Cobalt will be like this, but I hear a lot more stories about small problems with domestic cars than imports.

I do hope that you can resolve this issue to your satisfaction. I stopped in my local dealer today and negotiated a new 3dr in Carmine red with MT- basic car for my daughter. Total price will be under 14k- out the door. Sales tax in my area is 7.375%.
I even got a Yaris World discount. She will be very happy and will be joining the festivities here soon. Good Luck!

[YarisOwnersDad]

Originally Posted by bobselectric

I've seen this thread a few times and finally got the time to read through it. IMHO, the gas mileage part of the argument is an excuse. You don't need an excuse. You are a grown man who likes to trade cars. Nothing to be ashamed of. If you like the Yaris, and who doesn't, get it.
I had an employee that owned the Cobalt SS. At 20k, the little things started to go bad. The clips that held the front end on, didn't. The plastic in the wheel wells cracked and fell off. Every week, he'd come in with another compliant. I'm not saying that all GM cars are like this, or that your Cobalt will be like this, but I hear a lot more stories about small problems with domestic cars than imports.

I do hope that you can resolve this issue to your satisfaction. I stopped in my local dealer today and negotiated a new 3dr in Carmine red with MT- basic car for my daughter. Total price will be under 14k- out the door. Sales tax in my area is 7.375%.
I even got a Yaris World discount. She will be very happy and will be joining the festivities here soon. Good Luck!

I know the gas mileage does not begin to justify this trade. I said that earlier in the thread, I believe.

You are right, I don't need any more justification other than the fact that I just plain want to trade. I do want a good deal, though.

What is a Yaris World discount? Is that something that I might be able to take advantage of?

Thanks.

Tom

[PreciousPups4U]

WOW 7.375% on a car? That's nuts. Our sales tax here is 6%, but there is a $300 cap, so the most you ever pay in $300.

If you buy a very used Kia for $5000 you pay $300 sales tax, if you buy a brand new Corvette for $70,000 you pay only $300 sales tax.

Never really paid any attention to what a bonus that is.

[tomato]

^^ hmmm... you're lucky. In California, we just got hit with a 1% increase in sales tax and another increase in income tax. our sales tax is now up to 9.5% in some counties

Oh, and vehicle registration fees and licenses went up too (sigh).

[SailDesign]

Originally Posted by tomato

^^ hmmm... you're lucky. In California, we just got hit with a 1% increase in sales tax and another increase in income tax. our sales tax is now up to 9.5% in some counties

Oh, and vehicle registration fees and licenses went up too (sigh).

We get 7% on cars in RI (0% on boats, though).
luckily, I got a tax credit for my total, so i'm only paying tax on about $2500 forthe new car.

[PreciousPups4U]

Originally Posted by tomato

^^ hmmm... you're lucky. In California, we just got hit with a 1% increase in sales tax and another increase in income tax. our sales tax is now up to 9.5% in some counties

Oh, and vehicle registration fees and licenses went up too (sigh).

Originally Posted by SailDesign

We get 7% on cars in RI (0% on boats, though).
luckily, I got a tax credit for my total, so i'm only paying tax on about $2500 forthe new car.

We do pay property tax on every vehicle (and boat) every year though in addition to the registration fees/license plate. Not sure if ya'll have to pay that. Property tax varies on value of the vehicle and the area where you live. Yaris runs about $300/year plus tag fee of about $30, A luxury type car can be $1200/year (or more) plus tag fees.

Just paid for the 1999 Dodge Ram in March, $173.77. Husband's manual 2008 Yaris is due in April, $245.97 and daughter's 2008 Scion tc is due in May, $335.41.

I guess the taxes get you one way or another. Of course we have State Income Tax as well.

[PreciousPups4U]

I did not "need" the Yaris either. Just wanted it. Don't regret it one bit. It's a very fun car and is my daily driver for sure, but when I need a truck I have the Ram and when I need the room/power I have the Excursion. Luckily they are both paid for.

Hey, if all it takes is a new car to make you happy and you can afford it, I say go for it.

[cdavidhess]

I've been following this thread too. It's very entertaining! I've bought 22 new cars in the last 32 years. I know what new car fever is like. I also like to play with car salesmen. Of course, I'm a bachelor.

Good luck!

[Forrest]

You want a new Yaris? Just go for it !!!

[bobselectric]

Yaris World discount- When the dealer you go to supports car shows and recognizes you from the shows you have been at before, he starts the negotiation with a small but reasonable deduction on the price of the new car as an appreciation of his loyalty. It was nice not having to argue for the extra reduction!

BTW, can't hurt to mention that you are an active member of the forum- you constantly speak with other toyota owners and wannabe toyota owners. Positive feedback goes a loooooooong way in ensuring repeat and new business

[YarisOwnersDad]

This MIGHT be the day, folks.

I will definitely post to let everyone know how things turn out.

Tomster

[33OH]

Originally Posted by YarisOwnersDad

This MIGHT be the day, folks.

I will definitely post to let everyone know how things turn out.

Tomster

Glad to see you didn't give up.. Good luck!

[bobselectric]

oh, the suspense--- it's a-killin' me!

[tomato]

(drum rolls) ....

[YarisOwnersDad]

Well, I guess it's over, my friends. I thank all of you for your patience with me and for your input into this thread.

The dealer and I had come to an agreement, and I was going to trade for $100 over invoice, since this would involve a trade with another dealer 50 miles away to get the color I wanted. Otherwise, I would not have gone over invoice. I would have taken the $8500 trade-in allowance on my Cobalt.

The problem is my wife is having a fit, and when you get right down to it, the only real justification for this trade is just because I want to do it. If I were single, then I would be signing papers right now on the Yaris. I even took the afternoon off to make the deal, but at literally the last moment, I took my wife's feelings to heart and decided that I could not in good conscience go against her wishes. If there were overwhelming good reasons to trade, I might have gone ahead, despite her objections. Sure wouldn't have been the first time.

Sorry, Peeps.

Tom