advice on buying a new Prius 2016

You will get a far better deal on a leftover 2016 over a 2017 and you will be fine getting the 0% for 72 with your credit score I do believe. The dealership will probably run the credit app either during or after negotiations

Good luck and post pics when you pick up your new car.

 

Get your own financing. You will come out ahead in the long run.

Shop multiple dealers for the best price on an IDENTICALLY EQUIPPED car WITHOUT their financing. Get the offers in writing so they don't claim a "math error." Don't let them try to tell you that an offer is only good for that visit, Let them know up front that you are shopping around and that they are not your last stop.

Let us know how it works out.

 

Welcome. Read through Car Buying Guide for New and Used Vehicles | CarBuyingTips.com and check out one of the car buying services like AAA or truecar.com. Negotiate the price of the car before the loan and verify all the numbers. Know the state's fees and taxes.

The biggest scam is overcharging for motor vehicle fees. If you don't like an amount printed on the form, cross it out.

 

Watch out for extra fees. Document processing, "Dealer Fee," Advertising Fee, etc. If the dealer needs to charge (for the boss) have them discount the vehicle price. And check your paperwork carefully before you sign. Remember, dealers, salesman and their ilk in the paperwork office are slick. And they are slick everyday, so they have plenty of practice.

 

You don't know until you ask. You've hit bottom when the dealer tells you to buy the car elsewhere. The dealers may be a bit more accommodating through Wednesday.

If the truecar dealers aren't local use the quotes as a ceiling at the local dealers. Deal only with the Internet sales Division.

You need to know the cash price of the car, the price of the car with the promo financing, and the total amount that will be paid when financing.

 

No. That's what I got.

 

Toyota provides the incentives for a new 2016 Prius in addition to what the dealer is willing to offer. In California these are the current purchase offers:

Southern California
$2,000 Cash Back or 0.0% APR + $500 Cash

Northern California
$2,500 Cash Back or 0.0% APR + 1,000 Cash

As mentioned by "Bill the Engineer" if you can get your own financing for between 3-4% you'll save a little by taking the cash back. But if you're financing for longer than 3 years or the full amount, then the 0.0% +$500 is the better offer

 

If opting for the 0% for 72 months then no, the average paid would be taking the discount I would believe.

If you can somehow swing an invoice PLUS 0% for 72 then that is a good deal.

FYI. I took the 2k discount and got a 1.90% for 72 month loan. Got total of $4600 off of sticker price. I am happy with that deal.

 

That is correct. I got a loan from my credit union at the above low rate and opted for the 2k discount ontop of the Costco pricing (which was $1000 under invoice). Come to think of it they never even asked me for my Costco card at this dealership. It was the smoothest transaction ever!

A different dealer that I did not buy from did do the whole Costco paperwork for the discount (not a big deal at all though) but low balled me on my trade so I went else where.

As others have said negotiating your best price (or Costco pricing) and taking the discount and getting the lowest interest rate possible from a credit union is the more economical of the two choices. Unless you can only secure a higher interest loan due to bad credit then going for the 0% through toyota if they accept you (they are pretty lenient it seems) might make more sense.

When I did the math I believe I will only be spending $1590 in interest at the 1.9% for 72 months (if I keep it that full term) thus opting for the 2k discount coupled with bringing my own financing I saved another $300... If I trade in at the 3 yr mark then I'll have only spent $800 in interest but saved 2k by opting to take the discount.. Also if you opt to pay it off sooner you save money that way by not paying as much interest.

Taking the 0% toyota loan only saves you that $1600-$1800 depending on if you keep the car that full 72 months! If you keep it say only 3 yrs you only save in my situation $800....

So my advice is do the math and use a loan calculator and check interest rates before making a decision.

Heck even knowing all the above in the past I've opted for the 0% for the simple fact that it's nice seeing all your payment go to principal....even if I would have got a better deal doing the above.

Best of luck and hope this helps you.

 

I never even thought about double checking that figure. Do you mean the registration fees? Thanks for posting that. But I have no idea what the correct registration fee is.

Also bring a calculator, and re-check the math for the taxes.

 

At 0% interest, I do not see the reason to put the rebate towards the purchase price if the dealer will finance the whole amount. If your credit score is high enough, you can keep the cash for an interest free loan. I did this with my 2012.

 

So the dealers don't ask for some kind of paperwork from Costco?

Just walk into the dealer and say, "I'm a Costco member?"

I used TrueCar.com, but apparently I could have done much better with Costco.

 

They are supposed to take your Costco card. Make a copy and then present you with an official printout with the full Costco pricing breakdown!

 

Whatever your regions current incentives are, you can opt for one OR the other incentive along with the Costco pricing..

And be advised some regions have different Costco pricing. My region (SE PA) is $1000 under invoice, but others have stated as low as $650 under invoice and as high as $1650 under invoice.

So yeah, if your region is offering 0% for 72 PLUS $1000 cash back as its financing offer then yes it should qualify ontop of whatever "under invoice your region is offering for Costco pricing.

Also be advised that this is all assuming you don't have a trade to complicate matters. As I said a few posts up I had a deal worked out with a respectable trade number for my truck but when I went back a few days later and mentioned the Costco deal they said they would honor the Costco deal but would not honor the trade deal and all of the sudden devalued my trade 3.5k? Insane so I walked away and bought my car where I did and made out great and still got s very good trade in value where I bought my car. So shop around if you do have a trade.