I will be buying a 2016 prius three in blizzard pearl with black fabric interior next week. I am trading in an 09 civic SI coupe with 143k. I already have financing through my bank for 1.49% for 60 or 72 months. A few quick questions: What should my price point be? I live in rural MO so I don't have access to anything like the costco program. Through research I have found invoice to be $25869. I thought I would start $400 over invoice and go from there while asking the KBB value for my trade.
Use nadaguides.com for your car's worth. It's a more accurate estimate than kbb's. Also, take your current car to a carmax if you have one nearby, and have them appraise it for you, so you have a ballpark range for what it should be worth. If the dealer really lowballs you, and carmax offered you more, their offer is good for a week if you want to sell it to them instead. If their estimates are similar though, and it's close to what nadaguides said your car should be worth, then go ahead with the trade-in. Just be forewarned that you'll usually either be screwed on the new car's price, or your car's trade in value, so don't tell them you're trading in until you've gotten a price set in stone on the new prius. You'll likely get more if you sell it privately, but unless it's a high demand car, and/or you're willing to be patient on selling it to the right buyer, don't expect to make too much more than what the dealers are offering. Sure, you could make several thousand more. But it'll take a lot of legwork on your part to advertise it and pretty it up to sell.
