Anyone Know What the November Incentives Are?

Yeah I'm hoping to see some great deals on 2010s soon. Mazda already has their 2011's out so there 2010's were going dirt cheap. Waiting for Toyota to do the same.

 

They will be announced Nov 2 in the morning.

We will be very lucky if the residuals stay the same... but rates are really low thru today and with still plenty of Prius 2010's left in CA, I know we'll have *some* specials.

The 2011's will begin to be allocated on tonight's inventory allocation, for mid month arrivals, so the 2010's will start moving briskly because that's where the deals will be.

Dianne

 

Thanks Dianne I'll probably be calling you very soon then! Yay finally deals on the 2010s!

 

Mike, since the Prius made its debut May 29, 2009 as a 2010 model, the cars invoices have gone up an average of $1400. (The II, $1000).

The residuals were at their best in combination with lower rates in both July and August.

I'm sorry -- the time to have gotten the best lease TERMS has passed, mathematically. The residuals on all Prius have dropped approx $2000-2400 a car since March 2010.

The only good thing about that fact is that you're more apt to have equity at lease end now than you will if you leased the car 6-8 months ago .... but you never know. If gas goes back up to $4-5 a gallon, we'll all be sittin' pretty!!

Mike, if you REALLY mean that you feel a better deal will be had after Nov 2, I wish I could agree. On a purchase, we'll be looking at the last of the cars we can lease before year end that get 45-50 mpg @ such low prices, these 2010's are fast becoming non-distressed-merchandise. The deals will be GREAT considering the market they are happening in... but you've been watching far better terms pass you by expecting better payments? That won't happen.

 

Well, maybe I am not understanding why Toyota doesn't have good end of year sales while all other car companies do? The Mazda3 which I was also looking at was at $14k for the 2010s as opposed to 17k for the 2011. My understanding has always been as the end of the year comes up the cars come down in price. If that happens- then good for me. If it doesn't - then I simply may not be able to get a Prius. I'm not in a hurry to get a car- so I have been hoping that there will be a good deal coming up soon that I can take advantage of.

 

I guess our idea of "a good deal" sure varies, doesnt it?
The MSRP for the Prius 2011 is slated to be only $250 higher.
The rates on Prius today at 1.9 for 60 months vs the norm in rates for the 2011 would make the car a GREAT deal.

Maybe you need a Ford truck then. I mean, if you're just trying to get A DEAL and not considering what the deal is on? I just sold a Tundra to a previous customer in San Jose. He was looking at Ford trucks for his business vs Tundra. A Ford F150 that was kinda close to my doublecab Tundra was a $32K window sticker and he was quoted $23K for the truck after rebates.
I have a $33K Tundra that after rebates is $26K .. and he chose the Tundra. Obviously, he bought quality and resale over the "pricing" discount. But, you sound like you're buying a discount over a car, so you might be on the wrong car!
We have 2010 Yaris at 0% financing right now. That would save someone thousands in financing for 60 months. That's a deal if you look at all of the components of the deal. Maybe a hybrid Camry with 0% apr might even work better. Or, take the $1000 rebate in lieu of the 0% apr on the 2011 Camry hybrid. Have a base hybrid Camry at just under $24K. (MSRP is 27,350, that's a big discount!) ...
Prius just doesn't have the markeups that other cars in the same price range do. Neither does rav4, incidentally.

Dianne

 

I assume the same too about end of year sales...hopefully there will be..


iPhone ?

 

Dianne- sorry if I'm looking for a deal. If you are telling me the 2010 will not be discounted- then I may as well wait for a 2011.

Seems a little silly to me that you are thinking a customer is crazy and almost mocking me for looking for a good en of year price on something as expensive as a car. Maybe most of your customers have a lot of expendable cash- but I don't.

 

Maybe it is because the other companies need to reduce prices to move stale inventory?

 

Your idea of a DEAL doesn't make sense or you are just not explaining yourself well. I can only share what's reasonable to expect based on current invoice, current residuals, rates, and all of the components that make UP a deal ... what you seem to want is just confusing, and not logical to me.

 

While I really can't explain it, and it does appear to go against what one would logically expect for the end of a Model Year, Diane is correct, market trends are showing an increase in price for remaining 2010 Prius. Check TrueCar.com and look at their market analysis for the 2010 Prius. The market on them appeared to have bottomed out in late July/early August and prices have been climbing ever since.

I purchsed my 2010 III w/Nav for around $22K the last day of July, that same vehicle at the same dealership is going for around $24K today. This it through buying sevices suck as USAA and TrueCars.com.

I suspect the pricce of a Prius is somehow connected to the price of fuel... The price of regular unleaded has been slowly climbing since summer, and so has the price of a Prius! As Dianne pointed out, waiting till the price of fuel jumps again is not a good statategy if you're looking to purchase a Prius. It may work if you're in the market for a full sized pick-up or SUV, but not a vehicle capable of 50+ mpg! And, the new is predicting another jump in gas prices this winter...

As for waiting for a 2011, you can wait and only pay the $250 difference, but if you want to take advantage of lower interest rates or the $1000 cash advantage, that is only available on the remaining 2010s. I doubt you'll see any incentives on the 2011's till next summer, that is unless market predictions are correct and fuel prices jump, then you'll see dealerships asking MSRP+ as they did a couple years ago when gas was $4-$5 per gallon! I't's all a matter of supply and demand...

 

This makes me laugh every time I read it. From a lessee's point of view, a higher residual is NEVER good news if all else (think rates, dealer fees) is equal; at best a higher residual comes close to a wash for the person who will buy the car at lease end, although even then the difference in higher payments sat in Toyota's pocket instead of the buyers.

Paul gave a fair analysis of the variables at play in '10 Prius pricing through the remainder of its lifecycle. If pump prices go up, Prius pricing goes up; if fuel prices drop or stay the same, Prius pricing is likely to drop if excess inventory is available. Asking a car salesperson if it is advisable to wait to save money is not going to be productive on many levels. First, she does not know; and second, all sales people live by the mantra of 'a bird in hand is worth two in the bush.'

 

This makes me laugh every time I read it. From a lessee's point of view, a lower residual is NEVER good news if all else (think rates, dealer fees) is equal; at best a lower residual comes close to a wash for the person who will buy the car at lease end, although even then the difference in higher payments sat in Toyota's pocket instead of the buyers.

Paul gave a fair analysis of the variables at play in '10 Prius pricing through the remainder of its lifecycle. If pump prices go up, Prius pricing goes up; if fuel prices drop or stay the same, Prius pricing is likely to drop if excess inventory is available. Asking a car salesperson if it is advisable to wait to save money is not going to be productive on many levels. First, she does not know; and second, all sales people live by the mantra of 'a bird in hand is worth two in the bush.'

You should note though Dianne's tendency to quote msrp changes in discussion of pricing. This may be rational, but ignores discounts and rebates that come and go. It also harks to the the dealer tendency to try and stick the consumer with msrp pricing in leases.

Lastly, note the common dealer tactic of including things like "mats" in the pricing. Every time I have looked, the mats (or other dealer add-ons) are included at full msrp. This is dealer fluff, and should be avoided or negotiated down. Way down.

 

In San Francisco, San Jose area, I notice the price have ben dropping ~1000 since July.
But it's just in my area, other part of the country may be different which IMO depends on how many cut throat dealers near by.

Hayward Toyota put a full page AD on every Friday showing their lowest price of Prius in my area. Current price is 19888.00 for 2010 Prius II base with carpet, 0% Apr.

Kind of like ARCO gas station or Fry's Electronics if you know what I mean.

 

The AAA price around here for a base II--no accessories is $21357. Invoice is $22607. MSRP is $23560. How much lower do you expect it to go? Only those really hard up for cash are going to give away a car.

 

By the way, I do what you stated below (in red) because it's the only constant I have to use as reference. The MSRP is what folks see when they walk up to the car OR they look at various websites to research. Some regions have different invoices (some areas have higher TDA than our region so their invoices are higher) and some regions have dealer cash or down payment matching that can create a lower cost for the same car that someone else has.

I haven't sold a Prius for MSRP or even over MSRP in a loooooooooooooooooooong time.

And, I agree with you that residuals dropping suck for the lease payments. That sure goes without saying. But, I am a "bright side" kinda person. The flip side to that is that in 3 years, when there's a hybrid Rav and a plug-in Prius, I may have a lot of clients back to key swap with some serious equity. It seems you want me to post only the dark cloud side, and I can't do that. After 30 years in this business, I have seen quite a lot of change and definitely some really happy endings that didn't start out that way! Gosh, the experiences I could share that would really make you smile!

You should note though Dianne's tendency to quote msrp changes in discussion of pricing. This may be rational, but ignores discounts and rebates that come and go. It also harks to the the dealer tendency to try and stick the consumer with msrp pricing in leases.