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toyota incentive

Discussion in 'Gen 3 Prius Main Forum' started by 007, Feb 24, 2011.

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  1. Steinmetz

    Steinmetz Good Steward

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    There's no trunk money on a Prius. Did they show you the invoice?
     
    #21 Steinmetz, Feb 24, 2011
  2. twittel

    twittel Senior Member

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    I agree that different pricing sources reflect different pricing levels. There are 3 basic price points when negotiating a new car price. It's useful to know pricing assumptions used by COSTCO, SAMS, AAA, TRUECAR, etc.. From highest to lowest, here's a very brief summary:

    1. MSRP (Mfg Suggested Retail Price): In the U.S., aka "Sticker", "Maloney label", "Window Sticker".

    2. Factory Invoice (tissue price, dealer invoice): Sometimes the salesman will think this is the "dealer" price, but it isn't the true dealer price. The gap between MSRP and Factory varies between Mfg, Make and Model. Sometimes a dealership will "pack" the factory invoice with $100-$300 and tell the salesman they can't sell the car below this point. The "pack" is pure dealership profit.

    3. Dealer Invoice (true invoice): This is the amount the Mfg debits the dealerships finance source. The difference between "Dealer Invoice" and Factory Invoice" can be a spread from 3 percent to 5 percent, again depending upon Mfg, Make and Model. This money is often referred to (by dealers and Mfg) as "Holdback Monies" and includes Holdback, Finance Assistance, and dealer prep monies. Holdback is held by the Mfg and paid to the dealer on a quarterly or annual basis (dealer's choice depending upon his finance source). This is why it's called "holdback" money.

    Really, this is just a brief summary as it can complexly vary depending upon different manufacturers. Also, this is a U.S. summary, but the UK, Canada and some other countries share a similar structure, just using different nomenclature.

    Just because we know this information, doesn't mean we'll buy cheaper. Afterall, the retail car industry is not stupid, but us consumers strive to be smarter! I've said it before, dealers teach their sales staff to believe that whatever the customer says, the customer is lying. Of course, we consumers believe that whatever the salesperson says, sales is lying! It's no wonder we have a love/hate attitude about car negotiating.

    Maybe I should write a consumer auto buying guide!
     
    #22 twittel, Feb 25, 2011
  3. 007

    007 New Member

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    Location:
    Antigonish, Nova Scotia
    Vehicle:
    2011 Prius
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    Two
    Well, I took the advice of everyone here and bit the bullet and made my purchase last night. Got the Toyota National incentive of $2000 off PLUS a local dealer incentive of $800, for a total of $2800 off the price, so that felt alot better. They will install my fog lights when they come in and will store the vehicle for me until I run my lease out of my current Pontiac SUV.

    Now, I need some more advice from all you Prius experts out there. The business manager tried to sell me the extra warranty for 8/120 but I turned it down, he said I have 30 days if I want to reconsider. He also tried to sell me Diamond rustproofing, apparently they do not use regular rustproofing where they drill holes and squirt the stuff into every year, he said they can't do that with a Prius due to all the electronics in it. Diamond is a little gadget they stick under the car somewhere I guess and it repells rust for 430.00. I declined on that as well.

    My question is was I correct in turning this stuff down? Do I need extra warranty for 6 or 7 years, Does a Prius rust anymore or less than a regular vehicle? He did not pressure me much on the rustproofer but he was pretty adament on the extended warranty. He kept talking about Prius has SO MANY electronics that there are SO MANY things that could go wrong compared to a regular car it would be pretty expensive to repair. He also talked about brake pads, calipars, a whole bunch of stuff that is apparently NOT covered with the regular Toyota warranty......

    Please tell me I was right to turn down his offer of $2000 for all this extra coverage.

    So, hey, I'm a member of the Prius Family now, proud owner of a 2011 Blizzard Pearl with fog lights, ha.

    Hope you fellas don't mind, but I assume I'll have lots of questions in the months to come, and YES I'm reading the manual, I downloaded it from this site before Christmas and refer to it like a Bible.lol

    Its just nice to hear from other Prius owners and its the "feel" of owners wisdom that you can't get from any manual or books.
    :rockon:
     
    #23 007, Feb 25, 2011
    1 person likes this.
  4. gunguy05

    gunguy05 Junior Member

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    In my experience turn all the extra crap down. It can all be had for a cheaper price, if it is actually needed.
     
    #24 gunguy05, Feb 25, 2011
  5. revhigh

    revhigh MPG Enthusiast

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    Great Decision ! Congratulations !

    REV
     
    #25 revhigh, Feb 25, 2011
  6. bimmrr

    bimmrr Junior Member

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    south carolina
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    2011 Prius
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    II
    I agree, turn the dealer down on all the extras. Particularly the infamous "rust proofing" which should be renamed "extra dealer profit". If you want an extended
    warranty check out some of the stuff on this forum. Far better deals than what
    you can get from your dealer. Have fun with it - just got mine and still figuring
    out everything !
    Regards,
    Mike
     
    #26 bimmrr, Feb 25, 2011
  7. spiderman

    spiderman wretched

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    Alright, way to go. Welcome officially to the club.

    Just invest that money you would have spent to pay for any problems in the future.
     
    #27 spiderman, Feb 25, 2011
  8. 007

    007 New Member

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    Two
    thanks guys....for the welcome and always good advice.
     
    #28 007, Feb 25, 2011
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