2009 package 2 Driftwood $ 1850.00 under list, why ? I gave up looking for a Prius 4-6 weeks ago (I had other stuff going on and the process was just to frustrating); Local dealers wanted $1000 non- refundable deposit and a 2 to 4 month wait. On Sunday 10/19 there was an ad in the local paper 6 cars, under MSRP (1850.00 below MSRP, is this just an anomaly?) in stock, went to see them today. I must say I was skeptical but they had 5 available. Is this the norm now do to credit crunch and dropping gas prices? Just put a $500 deposit on 2009 package 2 driftwood, they have 6, various colors in the lot. See vehicle details below. Now perhaps here’s the catch, I met briefly with the business manager; while he wouldn’t quote me an interest rate until I locked in the deal I calculated the interest rate at 7% (based on the estimated monthly payment). Has anyone had the same experience? Not sure the dealer will allow 3rd party financing will discuss with them in the am. Is this particular package not in demand? Should I try for deeper discounts? MSRP 25085.00 DYNNAMIC LASER CRUISE CONTROL PREF ACC PKG WHEEL LOCKS REAR BUMBER APPLIQUE REFERENCE OWNERS PORTFOLIO PKG 2 INCLUDE VEH STABILITY
I think that the prices are getting discounted due to the credit crunch, people worried about the state of the economy and dropping fuel prices. All 3 of these things decrease demand to some extent (can't qualify for a loan, don't want to make a big ticket purchase in unsettled times, can live with the gas guzzling <insert vehicle here> now that gas is retreating below $3 in most areas of the US). I would be EXTREMELY leery of the financing thing. Sounds like they are trying to lure you in with a much lower price but trying to get you on the back end. Talk to your credit union/bank etc and see what type of loan you might qualify for. Right now, time is definitely on your side, don't squander the opportunity by rushing into the lion's den unprepared. Just a thought (to help you cool your jets), the economy won't likely fix itself soon (many experts stating this) <this means that cars likely won't be selling quickly>, more fuel efficient cars are coming <more competition = more supply = lower prices assuming demand doesn't spike>, and the holidays are fast approaching <people tightening belts = lower automobile demand>. You've got time to be patient. Still, if you want the car, go get it, just do it on your terms. BTW I checked local dealerships in the bay area, many have a dozen or more 2009 prius' on their lots (checked about 5 or 6) and some of the bigger ones have 30-40. Toyota is having a 0% financing (not on the Prius) event going on trying to get cars moving off the lots. The advantage is swinging from the dealer to the consumer.
The dealer love to give you a loan because they get a cut. I would check around with your credit union or other banks and see what their rate is, or heck search the web, capitol auto finance i believe it is always as an ad on kelly blue book web site. Drop a hint to your salesperson ahead of time and say, hey did you get my loan approved, at what rate, because i can get a loan for...whatever the capitol auto finance is. They have to sell you a car if you get outside financing, in effect it's like paying them cash, but don't worry they'll match the lowest rate you can find.
Emilio, since you list yourself as being from Rhode Island, take a look at the rates from Rhode Island Credit Union. If you do not use their automatic payment system and have good credit, you can still get around 4.1% on a 5 year loan for hybrid vehicles. You might have to be a customer first, so you may have to open a savings account with them in the amount of $100 or so. Anyway, it should be worth a look. BJJB
1. Borrowing money makes a new car even more expensive. Avoid it. 2. Don't borrow money from a dealer if at all possible. 3. Lock in the out-the-door price before saying *anything* about how you will pay.
Hi Emilio - I am also in RI. Not sure which dealer you are at, but if it is Boch Toyota, here is what they presented me at pick up (no time to think about it in advance): http://priuschat.com/forums/newbie-forum/53057-options-presented-pick-up.html Fortunately, I had done my homework here on Prius Chat, so I knew not to accept ANY of it!!! Sandie
Thanks for the info I checked this am, RI credit union 3.65 with a credit score over 680 regards Emilio
Re: 2009 package 2 Driftwood $ 1850.00 under list, why ? Wth is "DYNNAMIC LASER CRUISE CONTROL"???? What ever the explanation is, tell them you don't want it. Unless it is free and they don't have to modify the car in any way to provide it. In that case, it is standard cruise control.
