Is this the right time to buy? Went to dealer today.

I bought mine at Xmas, someone told me it's the best time to buy!!

Ya go for it, Free money!! gotta like that.

 

Newbie here with our first post. We have been researching and waiting to buy for 4 months now. This website has been a WEALTH of information and we are just about ready to take the plunge. We've got "the other" hybrid and are not worried in the least about all the media coverage on the Gen3. Toyota's fixing the problem, could have have addressed America sooner, but they're taking care of it. Over it.

Anyway, we were originally offered the 3.9% APR here but there has been no mention of the 0% in our region - Southwest. I have asked dealers about it and am waiting on a response. One dealer has told me he's got over 15 V's on his lot that he simply cannot move.

If we get an answer on the APR I'll post here and a big THANKS to all of you for helping us with our research.

 

Same here and as I mentioned elsewhere in this forum, I can't find any 0% APR that most people said their dealer offers in my region, Nor Cal.

 

Here in the midwest I only see deals for leasing. Which is good for me cause I think we are going to take the plunge and lease a new V with navigation.

Honestly for a V with nav for only $265 a month is a great bargain.

You all may be seeing more of me - unfortunately for you

 

That is a good deal. But also realize that you need to put down almost $3000 drive off fees for it at that price (and you won't get any of that back after your lease), and it's for only 12k miles per year. Also that price is a monthly rate based on Tier 1 credit approval, and before any taxes in your county of residence. Just pointing out the facts so you're aware of everything.

If you want more miles (let's say 18k for example) and want to pay $0 drive off fees, expect your monthly rate after applicable taxes, to realistically be around $400/month.

 

Try www.edmunds.com to check avg selling prices, incentives, etc. They use zip code as filter. I plugged in a few zips and found 0.0 apr in east coast (23235).

 

Ya I do see the 0% APR using your zip code bit not in my zip code. It must be some geo incentives, not nationwide at least today.

 

There are zero incentives in SET territory for consumers. Not to mention they jack up their prices with high margin add-ons.

 

Tell them you don't want any of that crap. That's what I did. Of course they have to ship my car in from Asheboro, NC. But I can wait.

 

I'm not ready to purchase yet, but when I do I'll probably end up going outside of SET territory (like VA) to do the deal.

 

Heard back from one dealer this morning, no 0% here in the Southwest but they are expecting some changes to incentives within the next couple weeks. I appreciated him telling us that, he could have made some bs line to get us "to come in today, buy now, get the deal of a lifetime"...again.

Anyway, my guess is March, I think someone mentioned that earlier on here. We've waited this long, no harm in waiting a bit more.

Anyone know what the wholesale price is on III/IV models? I know invoice pricing is a marketing tool, but I have heard the term wholesale pricing thrown around a lot between dealers and I thought that was only for pre-owned.

Thanks.

 

May I ask why VA?

 

The invoice pricing is what dealers pay the manufacturer (in cash) in order to acquire the vehicles, but there's the "dealer holdback," which could be anywhere from 1-3% of invoice or MSRP depending on the manufacturer. The dealer makes profit from the holdback plus any amount they're able to sell over invoice.

 

That is what I thought but it has to be other incentives/kick backs going on now. Why? I bought the car this week for $1K below invoice, not counting the holdback, and plus 5 carpets and other small etc.

There is $532 dealer holdback for my model IV based on Consumer Reports 2010 Toyota Prius.pdf. There is no way the dealer will lose money to give the car away. With that in mind, I bet there are other ways that Toyota helping out, maybe just for these days.

 

Additional incentives from manufacturers are common and usually widely advertised, but sounds like this one is hidden from the public.

 

I'm no expert buying and selling car but based on the invoice I obtained from Consumer Report, it was certain look like the case these days.

 

I cannot say whether undisclosed Toyota to dealer incentives are at play, but keep in mind that the dealer has carrying costs: the cars on the lot are financed. So if the dealer has an inventory glut, they could conceivably agree to a car price below their actual cost. Cash flow problems might also lead a dealer to sell below his/her cost.

I think if I was shopping today I would start with an offer of invoice - (holdback + 1000), and *maybe* pay as much as invoice, but be pretty happy with invoice - $500.

 

Certainly very possible. Think of it as quick payday loan for the dealer.

 

So heard from another dealer today, he "couldn't find" anywhere that had the 0% APR so I kindly guided him to the Toyota Website and gave him a zip in PA that showed him. He was apologetic, but of course frustrated that that isn't offered here. Interesting comment, "most of those regions are snowed in ANYWAY so how can they get to SEE the cars with this APR?!?!"

He also thought it was interesting that the 0% was only being offered until 2/16...so a weekend push for TriStates perhaps?

At any rate, he was going to do some more digging around, he's certainly working to earn our business.

FYI - he's quoting us $24,925 for a III with Audio Package, window tint and after market leather...we'll see....

 

$25K for III with audio and after market seat, $1,250 here is pretty good. Before I bought my IV, 3 weeks ago and before all these Toyota problems, I had a quoted of $26K before the after marker $1,250 seat. This week, $2K more I can have IV w/ OEM leather, SR.