thinking of buying a new Prius Prime

Just alert the moderator. He's do just that

 

I would go to CarMax (or similar places like Carvana which can estimate online) first (price good for a week). They paid me 2k over what dealer offered.

 

Suggestions:

• Get several online quotes on the RAV4 and check eBay completed and sold prices.
• Let your coworkers know you're looking to replace the RAV4 with a Prius Prime.
• Ask your banker what they can do for a new car loan and submit the application.
• Go to dealer the last week of month. Get their offer on the RAV4 and Prius Prime. Ask to hold it open to Friday.
• Contact: @DianneWhitmire (1-800-90-TOYOTA), Carson Toyota
• Let your co-workers, friends, and family know about the terrible price offered for the RAV4 ...

Bob Wilson

 

Couple questions:

why do I let me friends and co-workers know I am replacing/buying a new prime?
You are letting them know a nice RAV4 may be going on the used market. It is a 'heads up' so they can cogitate about it. Share that you are worried about getting a fair price for your RAV4.

contact Diane and say what exactly?
When is a good day and time to visit? Let her know 'PriusChat' sent you. She may suggest a day after the next shipment of Prius Primes arrive giving you the best opportunity for a more perfect Prius Prime.

why would my co-workers and friends care what price they give me for my Rav4?
If any are interested, let them make an offer. For example, I was buying a 2010 Prius and the dealer offered only $2,800 for our 2001 Echo, 30,000 miles. I visited a coworker's office and complained about the miserable trade-in price. I let him have it for $3,000 and everyone was happy.

Bob Wilson

 

I work for Toyota selling cars so I have experience in this department.

You said you looked into what your Rav4 is valued at. Couple things. Is there a payoff on the Rav or is it played off? What year and how many miles? Have you looked on kbb? Just know you'll never get retail price for your Rav. Dealerships don't work like that. They have costs associated in order to resell it on their lot. Has to go through the shop, inspection if it applies in your state, etc. But KBB is a decent guide.

As far as pulling credit it's not needed for a quote. If you know you are in the 700s you should qualify for the incentives. In Pennsylvania I believe there is .9% for 60 month or 2500 cash back from Toyota. It's always one or the other. You cant double dip. So depending on how much you're getting for your trade, and how much you're actually financing, the 2500 might be the better route to go. It all depends how much you're financing. If you exceed 2500 in interest, take the .9 or if you're going to pay less than 2500 in interest, take the cash back. That's the way you want to do it.

Do you have a credit union that you use? They usually have good rates where you can take the 2500 cashback and finance through you're credit union with a good rate.

 

Oh boy! They'll look at you like a fish flopping on the hook when you walk in. Keep your shields up!

There are many videos on youtube about the car buying experience. Some of them are even pretty informative. Watch a bunch. Look at one with the 4-square worksheet. That is where the sales wizard puts down the car's price, trade value, monthly payment, something else, and moves numbers around faster than a guy on the street playing the shell game with suckers. The goal is to get your head spinning. Here is just one example:

Always keep in mind that the more money they can get you to pay, the bigger their paycheck will be. Buy nothing extra at the dealership, with one possible exception. If there are any factory accessories you want, demand a 20% discount on their price, maybe good only of the day of the car purchase. That's fair. Make them remove the cost of any accessories they've already put on and you don't want. The so-called finance manager is commissioned, so he'll try to pressure you into buying overpriced wax job, wheel & tire insurance, extended warranty, useless window etching, and more. Just say, "nothing extra." If you're financing or leasing, and you're not making a big down payment, you'll want gap insurance to cover the difference in value on the day the car is totaled between the car's used value and the amount you owe on the loan. Your insurance agent has the best price. The dealership has the highest priced gap insurance. Somebody said, "leasing is fleecing." Basically, buy, don't lease. If the dealer can get you into a higher than market rate loan, they get a kickback. Do check other lenders--local banks, etc., and find out what the best rate is out there. Toyota Financial might have a great rate you qualify for, but nothing requires the dealer to offer you the best rate. Avoid very long loans if you can. The interest cost for all those years is expensive. When the finance guy prints up a contract, examine every line. Understand the numbers on every line. Look closely for charges that are higher than you agreed to, charges you never agreed to, and even addition "errors" that seem to be always in their favor.

Patience is your friend. Take hours if needed until they finally give up on trying to gouge you. The sales person will pretend to be your friend. They'll take your offer to the evil sales manager who always wants more money. Wait until the last evening of the last day of the month if necessary. They need to sell cars, and the more they sell in a month, the more money they make. If you're a Costco member, look closely at their buying service. If you're a credit union member, see if they have a buying service.

In California, I believe, the value of the trade in does not help lower the sales tax on the new car. If you can sell the car for more than the dealer offers, and you want to bother selling it yourself, go ahead. The dealer will probably value your trade-in at the wholesale auction market value, the MMR (Mannheim Market Report). If you still owe on the loan on the trade, that complicates things--check with your lender on how to sell it and pay it off. If your trade is still under the lease, don't buy a new car. Wait until the end of the lease. You'll pay for the lease in full even if you turn the car back to the dealership--they'll add the future lease payments to the cost of the new car.

Come back to this forum any time. Ask any question.