Best time to buy a new Corolla? (Canada)

[JeuneTurc]

OK, reading the other threads enviously about our 'merkin cousins getting the great deals, whether on the internet or with the much lower Toyota USA Financing, I was wondering what people think about the best time to buy a Corolla (XRS) in Canada would be. Right now, the finance rate is 5.9% for ALL terms between 24 and 60 months--hardly competitive, with Canadian prime rate at 5.25% for people who can get that credit from their line of credits (and with a potential recession in both countries, the prime seems to be headed even lower, but I digress.)

Any ideas what the best months to get a better deal from Toyota Canada would be? I was told July/August is usually a good time frame since with people going on vacation, the dealers are more willing to deal to make a sale, but with the Corolla being the new hot item on the lot, I am not sure that would apply in this particular year. Personally, I want to get the 'rolla before the winter, so I have a little bit of breathing room--I can wait until mid-to-late October if I had to (although salivating after all the XRS pics you guys keep posting, plus, then I'd have to put snow tires on right away, and not get to use my nice alloys on the car until the next spring!!!) Does anyone know when the '09 Corollas will start getting included in the low interest rate financing offers in Canada? Also, does the Red Tag sale happen twice a year or more frequently; I was told by a sales guy at a local dealership that usually that is the best time, interest-rate wise, to get the car if you are interested in financing.

Sorry for the long post!

So, any ideas?

[Tideland Prius]

Red Tag Days are twice a year IIRC. One in the spring (now) and one in the fall (can't remember when).

I would say the later the better (I know it's hard with all the pictures on this site!).

1. It gives you time to save a downpayment so less interest
2. You're in no rush
3. Once it's past summer and people get over the new car launch craze then CarCostCanada pricing might help
4. The interest rate may drop below 5 (say 4.9%).
5. Unless you buy an orphan on the lot, if you were to walk in right now, I think delivery is for May so you're still waiting anyway.

[YOHAN]

The time is NOW!

The past is but a memory.
The future... only a dream.
Now... it's the only reality.

[Tideland Prius]

Originally Posted by YOHAN

The time is NOW!

The past is but a memory.
The future... only a dream.
Now... it's the only reality.

Keep in mind Yohan, we're not so lucky as you guys getting $1,000 off when the car is a few months old. $1,000 is what we get if the car is a few months to its death with a new model coming out.

[teriyaki]

If you can wait, definitely wait for atleast a lease rate/finance rate reduction in Canada.

[JeuneTurc]

Yeah, I think it looks like the fall to me--Canadian Toyota dealers don't seem to be super interested in giving you a deal during the first model year of any car, it looks like, so I'll have to try for below MSRP + a few goodies thrown in and a better than 5.9% finance rate. Almost makes you go buy a Mazda 3--they are offering 0% for 60 months, I think. I'd be ok with 3.9% and lower, and can even go with a 48 month term if it is lower than the 60 month one. I guess I'll be checking the Toyota.ca site the first day of every month to see their rates

[cwayne]

Originally Posted by Tideland Prius

Keep in mind Yohan, we're not so lucky as you guys getting $1,000 off when the car is a few months old. $1,000 is what we get if the car is a few months to its death with a new model coming out.

rox

[Impelled]

You Canadians should do what I did. Go to the Toyota "Owners" site and fire off some Emails. I sent one, not profane or confrontational, But I challenged em to be competitive and I gave some stats to back up my position. Gave examples of other car companies and their incentives and rebates/ rates. Then I pointed out their own numbers from their press release. Scroll down the article and see the Corolla numbers (2nd one from the top)- Their sales are down 21 to 23% depending how you figure it! I pointed that out!

Toyota numbers: http://biz.yahoo.com/prnews/080401/latu133.html?.v=77

I sent the Email on a Friday night(4/4), it was actually answered on Monday (4/7) morning (which is impressive by itself) and then Toyota announced the finance rate drops on Wed evening (4/9), just in time for me to order the XRS!

So I guess all of America owes the finance incentives to me!! I'm claiming it anyway, and that's the story I'm sticking too Maybe, if enough of you Northern Allies fired off some Emails....who knows what might happen. Sure as hell won't cost you anything but a few minutes. The key is the delivery.....polite but informed, savvy and intelligent. People overlook the obvious...and so do major car companies- Bring it to their attention and put em on notice! I've got a saying, "If you bring me a problem, bring me a solution with it"

[Tideland Prius]

Originally Posted by JeuneTurc

Yeah, I think it looks like the fall to me--Canadian Toyota dealers don't seem to be super interested in giving you a deal during the first model year of any car, it looks like, so I'll have to try for below MSRP + a few goodies thrown in and a better than 5.9% finance rate. Almost makes you go buy a Mazda 3--they are offering 0% for 60 months, I think. I'd be ok with 3.9% and lower, and can even go with a 48 month term if it is lower than the 60 month one. I guess I'll be checking the Toyota.ca site the first day of every month to see their rates

Mazda service is expensive if you trust what the 5-time Mazda owner told me. Met him at the auto show and was soo excited about telling me about his Camry Hybrid (his first Toyota) and said he got one on the basis that Toyota was reliable and dependable.

He told me about the Mazdas he owned and a particular MPV that had to have its subframe (does that make sense? or did he mean something else?) to be removed so that the techs can access the auto transmission fluid.

[Impelled]

And the flip side to that is, I have a couple of friends that have had zero problems w/ their Mazda's. One was a 3 and the other a 6! They are great cars. The guy with the 3 just sold it for some kinda Dodge....Caliber/ Magnum (some bullshit name like it) Been in the shop like 6 times now. Once a month.....he's kicking himself in the ass! When their not kicking him in his nuts and wallet!

[Tideland Prius]

You mean in addition, not flip side? Cause I wans't listing problems lol. He never said his MPV (or his Mazdas) were unreliable, just expensive to service.

[YOHAN]

What is it with American cars that they are so unreliable and gas burners?

[DjiNN]

The reason why American cars are so unreliable is because its built by americans .. They don't check on every aspect of the car over after every part is made or installed. Thats why when u buy an american made car your value of the car drops as soon as you drive it out the dealership. hence why japanese cars have a higher or maintain their resell value.

[JeuneTurc]

Originally Posted by DjiNN

The reason why American cars are so unreliable is because its built by americans .. They don't check on every aspect of the car over after every part is made or installed. Thats why when u buy an american made car your value of the car drops as soon as you drive it out the dealership. hence why japanese cars have a higher or maintain their resell value.

I don't think that is fair--Japanese-designed cars are built by Americans and Canadians for Toyota, Honda, etc., and they match the reliability of Japanese cars, not American ones--I think the difference is more in the quality control and overall design philosophy areas. American cars, in my opinion, are made with the assumption that they will not last more than 5 (preferably 3) years without needing a lot of maintenance, which will create MORE business for the said company, either because people (presumably) will replace their cars every 3-to-5 years OR pay the dealer network a king's ransom in repair costs, a win-win situation from their point of view.

Look at it this way, my 99 Corolla is still going on strong, and I probably could continue using it for another 5 years min., albeit with higher maintenance costs than I am used to from the first 8 years or so. I am going to buy the XRS because I want to, not because my current ride is falling apart under me or making me go bankrupt with maintenance costs. Not a lot of American car owners can or would keep their cars 10 to 15 years without a lot of extra cost than Toyota/Honda and heck, even Mazda owners.

[Impelled]

American Auto Companies have taken the car buyer for granted for so many years, and they have trouble breaking bad habits. They've been used to putting out sub-standard cars for years, letting the dealers to fix the problems. Too many UAW and strike issues to deal with and so some have taken their factories south of the border. I could go on and on....some would call it a rant. I am not prejudiced against American car companies, but I do reflect my life experiences! My experience has, in 30 yrs of car buying, been very negative w/ GM, Ford and Dodge. I buy Toyota's and my wife will only buy a Honda, and that's the way it is.