Need some price advice...

[xed]

Here's the quote I got (keep in mind that I'm in NC which is part of SET so the prices are higher).

2008 Liftback, MT, no options at all (no floor mats, no radio, nothing)

car: $11,733.50
doc fee: $389.00

total: $12,122.50

(this is the price without tax and tag/title, so it's OTD without ttl figured in)

So is this good or bad? I did my own calc based on a few spreadsheets and this came in at $200 over my target price whitch to me wasn't enough to quibble about since it's a new model year that's just hitting the floors.

thoughts?

[ern-diz]

Originally Posted by xed

Here's the quote I got (keep in mind that I'm in NC which is part of SET so the prices are higher).

2008 Liftback, MT, no options at all (no floor mats, no radio, nothing)

car: $11,733.50
doc fee: $389.00

total: $12,122.50

(this is the price without tax and tag/title, so it's OTD without ttl figured in)

So is this good or bad? I did my own calc based on a few spreadsheets and this came in at $200 over my target price whitch to me wasn't enough to quibble about since it's a new model year that's just hitting the floors.

thoughts?

gotta say it sounds ok to me...there will be a gap insurance, extended warranty and possibly alarm (sometimes preinstalled on all cars on the lot to help the dealership save on insurance costs) to consider purchasing, which can bring the total cost up (in addition to finance charges) however, that base sounds ok...i got my '07 in august with only the california convenience package and paid 12,500 before the after market power windows/door locks and the above mentioned insurance/warranty/alarm...i'd worry more about the interest rate cause that price sounds ok to me...

[xed]

Originally Posted by ern-diz

gotta say it sounds ok to me...there will be a gap insurance, extended warranty and possibly alarm (sometimes preinstalled on all cars on the lot to help the dealership save on insurance costs) to consider purchasing, which can bring the total cost up (in addition to finance charges) however, that base sounds ok...i got my '07 in august with only the california convenience package and paid 12,500 before the after market power windows/door locks and the above mentioned insurance/warranty/alarm...i'd worry more about the interest rate cause that price sounds ok to me...

I just set up a blank check loan with Capital One Auto Finance so no gap is being forced on me unless I wanted it. No alarm or anything like that either. I have a FICO of over 800 so I got the lowest rate Capital One Auto has at the moment for a 60 month which is 6.35%. I figure if Toyota financing can beat 6.35% then I'll go with them; otherwise I'll just use Capital One.

[ern-diz]

Originally Posted by xed

I just set up a blank check loan with Capital One Auto Finance so no gap is being forced on me unless I wanted it. No alarm or anything like that either. I have a FICO of over 800 so I got the lowest rate Capital One Auto has at the moment for a 60 month which is 6.35%. I figure if Toyota financing can beat 6.35% then I'll go with them; otherwise I'll just use Capital One.

you are in an excellent position then...i would however recommend that you read the following thread:

http://www.yarisworld.com/forums/showthread.php?t=9050

before considering passing on the gap...just so you have both perspectives on that option...

[xed]

Originally Posted by ern-diz

you are in an excellent position then...i would however recommend that you read the following thread:

http://www.yarisworld.com/forums/showthread.php?t=9050

before considering passing on the gap...just so you have both perspectives on that option...

Thanks for the link to that thread. I read through it and it really does bring home the point of having gap insurance.

Depending on what the dealership offers me for my trade-in I'll be putting down between 0% - 12.5% of the purchase value which means at the time of purchase, having gap is the right choice. Either way I'll have paid off more than 20% of the car's value before the end of this year so the time frame for having gap coverage would be through the end of the year.

I think I'll go ahead and pay for gap and then just cancel it at the end of the year and get refunded the prorated difference. That way I'm covered just in case something happened (hence the term "accident").

[black2yaris]

sell your current car ,now , yourself .. you will get more for it .. than on a trade remember that the dealer don't make muh of a markup on Yarii , soo they will lowball the trade-in to make some cash for themselves .. put all you make on the sale on the yaris & /or save it for mods .... that's what i did .. got 10 grand for 2001 Tacoma Prerunner on the curb out front of my house ...

[xed]

Originally Posted by black2yaris

sell your current car ,now , yourself .. you will get more for it .. than on a trade remember that the dealer don't make muh of a markup on Yarii , soo they will lowball the trade-in to make some cash for themselves .. put all you make on the sale on the yaris & /or save it for mods .... that's what i did .. got 10 grand for 2001 Tacoma Prerunner on the curb out front of my house ...

That's what I think I'll end up doing. I'll see what the dealer offers but I'm pretty sure that I'll just sell it myself. I'm in a position where I don't have to trade-in to afford the Yaris so if the dealer doesn't give me enough for my trade then I'm not forced to take it. I'll have my Capital One Auto blank check at 6.35% in hand so I also don't have to take their trade offer or their financing if I don't want too.

I've already got a negotiated price and I don't have to trade-in or go with their financing if I choose not too so I think I'm probably in about as good a position as I could reasonable hope to be in.

What's funny is that the car has no options what so every except for an interior light kit. It's a total nuts-n-bolts that the factory decided to stick a light kit on. The dealer told me they'd just take the light kit out so that I could get a true zero option car. I just think it's funny that the factory jammed a light kit into a car that doesn't even have floor mats.

[bethd127]

where in NC are you? I was just in the same situation. I have good credit and got a blank check from USAA. Dealer beat it with 5.85% just two days ago.

[Jerkratt]

xed....u near lows motor speedway?

[xed]

Originally Posted by bethd127

where in NC are you? I was just in the same situation. I have good credit and got a blank check from USAA. Dealer beat it with 5.85% just two days ago.

I'm in Wilmington. I went to my local dealer a few days ago to work out the details. I ordered a stripped white 08 LB because the "light-kit" car was already spoken for by the time I went to the dealer so I'm just waiting for one to come off the boat and then they'll send it to me.

I have a blank check from Capital One Auto Finance for 6.35%. I had the dealer give me a financing quote without telling them anything other than I had other financing already squared away so I did not have to go though them if I didn't want to. I didn't much care for the APR they offered me. Whenever my car comes in and I go to sign the paperwork I'll have them redo the financing and see if they can beat 6.0%. If they can't then no big deal because I have 6.35% locked in with Capital One and I'm targeting paying off the car in 2 years even though I'm doing the loan at 60 months. Capital One will also let me reamortize the loan for free whenever I want as many times as I want. I don't know if Toyota financing allows that.

I think I got a good price on the car, somewhere around 6%-6.5% dealer profit as near as I can figure. I was shooting for 5% dealer profit but on a car priced this low it's only a little over $100 difference so I didn't think it was worth my time trying to get them to come down by around $100.

I'm going to buy the car with $500 down (my deposit) and then sell my current car for $2k. I'll send the $2k to Capital One and reamortize the loan which will bring my monthly payments down to around $195 and then pay the car off in around 24 months.

Originally Posted by Jerkratt

xed....u near lows motor speedway?

Not too far; about 200 miles away from Concord.

[lolayaris]

hey xed, do you normally bank with usaa? i'm thinking about signing up with them and applying for a loan. jerkratt mentioned concord, i'm near it. probably going to order my 08 yaris hb from there. hope everything goes well with your car purchase.

[xed]

Originally Posted by lolayaris

hey xed, do you normally bank with usaa? i'm thinking about signing up with them and applying for a loan. jerkratt mentioned concord, i'm near it. probably going to order my 08 yaris hb from there. hope everything goes well with your car purchase.

Thanks. It was bethd127 that mentioned USAA actually; I don't have an account with them but if they were willing to go 5.85% in today's market then they don't sound half bad.

[Jerkratt]

na reason i asked was because my sis lives like 2 blocks from the race track in NC. im getting my 08 from prestige toyota in ramsey NJ

[smokinyaris]

i paid $10,300 and some change before tax and license for a fully loaded @ LONGO TOYOTA......

[lolayaris]

Originally Posted by xed

Thanks. It was bethd127 that mentioned USAA actually; I don't have an account with them but if they were willing to go 5.85% in today's market then they don't sound half bad.

oops sorry about that, but i just applied for a loan through capital one and it's the same rate. i like. thanks

[xed]

Originally Posted by smokinyaris

i paid $10,300 and some change before tax and license for a fully loaded @ LONGO TOYOTA......

If that was a cash with no trade in and no factory incentive deal then I think that firmly puts you in the lead for best deal on a Yaris ever. The 08 invoice is $10,622.00 with a 2% factory hold back ($241.40) so that's an actual dealer cost of $10,380.60 but then there's a destination/delivery charge that they have to pay which is $715.00 for the 08's which takes it up to $11,095.60.

Yours would have been an 07 but the price increase from 07 to 08 was only like $150 so if you really paid $10,300 + change for a completely stripped 07 then the dealer lost around $600 and if yours was fully loaded then it's some amount far north of $600.

Did you have a trade in? If so then the dealer may have just moved the numbers around on you. I doubt that the dealer lost any $$$ on your deal but I've heard of situations where a dealer just needed to sell 1 more car to make a quota and they sold it at a loss so that they could then get their quota payoff which was worth lots more than their loss on underpricing 1 car.

I looked at my numbers again and as near as I can figure it the dealer is making 6.25% profit off me. I wanted 5% but the difference between the two is only $130.92 which I didn't think was worth the time arguing over for me at least.