Trading for a Corolla very soon... opinions??

[mrreizor]

I'm wanting to trade my 2007 Saturn Vue V6 for an 2009 Corolla. The Saturn purchase was a mistake all the way around and I wish I had never purchased it. Anyways, I'm wanting to take advantage of the 0% APR. Here are the particulars:

I basically want a base model Corolla with automatic transmission and cruise. I was quoted a little over $15K. I'd like a few more options but I can live with these since it will basically be a commuter car.

1) Is this a good price for a base model?

2) How flexible is Toyota with trades? I owe like $16k and KBB trade in is at $12k. Do you think they would offer me $14k? That way, they'll take $2k on my trade and I'll roll $2K into the Corolla loan.

[XxPuNTeRXx]

Originally Posted by mrreizor

I'm wanting to trade my 2007 Saturn Vue V6 for an 2009 Corolla. The Saturn purchase was a mistake all the way around and I wish I had never purchased it. Anyways, I'm wanting to take advantage of the 0% APR. Here are the particulars:

I basically want a base model Corolla with automatic transmission and cruise. I was quoted a little over $15K. I'd like a few more options but I can live with these since it will basically be a commuter car.

1) Is this a good price for a base model?

2) How flexible is Toyota with trades? I owe like $16k and KBB trade in is at $12k. Do you think they would offer me $14k? That way, they'll take $2k on my trade and I'll roll $2K into the Corolla loan.

I would reconsider my decision and go check out the Mazda 3 or the Civic.

I have purchased a Corolla and am extremely disappointed due to the issues this poorly built car is giving me.

[joeylgarcia]

i have no issues with my 09 corolla S auto and i love it like a baby. hehehe

[XxPuNTeRXx]

Originally Posted by joeylgarcia

i have no issues with my 09 corolla S auto and i love it like a baby. hehehe

All I am saying is that it clearly is not as good a car that some people may be mislead to beleve it is.

I would definately purchase a Honda Civic or Mazda 3 over it knowing now that it is not, in any way, a supperior product.

[John Mo]

Originally Posted by mrreizor

I basically want a base model Corolla with automatic transmission and cruise. I was quoted a little over $15K. I'd like a few more options but I can live with these since it will basically be a commuter car.

1) Is this a good price for a base model?

2) How flexible is Toyota with trades? I owe like $16k and KBB trade in is at $12k. Do you think they would offer me $14k? That way, they'll take $2k on my trade and I'll roll $2K into the Corolla loan.

It sounds like a pretty good price to me, especially if they'll work with you on the trade. That's the thing with trades... if you're expecting full value for the trade, then expect to pay MSRP for the new car. Check KBB for the specifics of the Corolla you're looking at.

I'm happy with my 5-sp S after 5 months and 11k miles.

[djb383]

We absolutely love our '06 Saturn Vue, zero issues. The Vue's power train (Honda VTEC V6 & 5 speed auto tranny) is awesome. At a 14:1 power-to-weight ratio, it will blow the doors off a Corolla XRS (lots of others also) and it tows our 2000+ lbs of motorcycles like they're not even back there. Don't get me wrong, as we love our XLE also, especially the fuel economy. You may want to consider driving your Vue a while longer to build some equity or try selling it yourself to put more money in your pocket, not the dealership's. Keep in mind that it's never a good idea to finance 2 vehicles and only drive 1.

[mrreizor]

Originally Posted by djb383

We absolutely love our '06 Saturn Vue, zero issues. The Vue's power train (Honda VTEC V6 & 5 speed auto tranny) is awesome. At a 14:1 power-to-weight ratio, it will blow the doors off a Corolla XRS (lots of others also) and it tows our 2000+ lbs of motorcycles like they're not even back there. Don't get me wrong, as we love our XLE also, especially the fuel economy. You may want to consider driving your Vue a while longer to build some equity or try selling it yourself to put more money in your pocket, not the dealership's. Keep in mind that it's never a good idea to finance 2 vehicles and only drive 1.

I'm only getting like 18 MPG at best and my wife's 99 Avalon gets all of the road time because it gets like 28 on the highway. I basically want something that we can both use and enjoy. It sucks paying on a car that sits in the yard.

[John Mo]

I understand, but I think if you do the math you'll find that you won't save money by buying a more fuel-efficient car. The math rarely works out on that when you factor in payments, interest, etc. You're not going to get $14k on trade for the Vue. SUVs are unpopular trades if you're on the receiving end. You should figure on low-market value for a non-Toyota trade.

[mrreizor]

Originally Posted by John Mo

I understand, but I think if you do the math you'll find that you won't save money by buying a more fuel-efficient car. The math rarely works out on that when you factor in payments, interest, etc. You're not going to get $14k on trade for the Vue. SUVs are unpopular trades if you're on the receiving end. You should figure on low-market value for a non-Toyota trade.

I value your opinion John Mo! There won't be any interest on a 0% APR loan, and i still owe 3.5 years on the Vue. So, if i can get them to do me decently on my trade in, then i'll save a few months in payments since its 0% APR for 36 months.

The Vue is financed locally at 5.9% (the lowest i could get at the time). The bank says i'll pay $2k over the duration of the loan so i'm saving $2k off the top. If i roll $2k or so into the Corolla, I don't feel like i'm doing so bad. I am rolling negative equity, but I'll be in a car that i think I'll have for years to come.

My wife had a 94 Camry for 12+ trouble free years (184K on the clock) until she totaled it out early this year and we replaced it with a 99 Avalon (has under 100K now), that has been trouble free for the past 6 months. We plan to have this Corolla for a LONG time.

If i'm getting 18MPG at best in the Vue, then it's not wise to trade for a car that can get 35MPG if the deal is right?

edit: Black book value on the high side is like $13k, so it's close.

[John Mo]

Ah. Duh. Forgot about the 0% deal. That can make a lot of difference.

At $3/gal and 12k miles per year, you'll save around $1,000/yr in fuel costs. That's less than $100/month. So whatever you do, if your monthly payment (even at 0% interest) goes up more than $100, you're not coming out ahead in the short term.

I don't like to obsess over depreciation because that's funny money to me. Depreciation only matters when you sell, but that's what you're looking at doing. You may save $2,000 in interest over the life of the 0% loan, but you're probably going to lose at least that much on the trade (probably quite a bit more).

I just traded my '93 Camry (267k miles) for my '09 Corolla. Economically, I could have put $1,500 or so into the Camry to address some age-related problems and kept driving it, but at some point it comes time to move on. I figure I'm good for another 15 years with the Corolla. I understand the appeal of having a car you know you can live with for many years, but you have to go into that with your eyes open about the dollars and cents involved.

[Jim Bob Jones]

Originally Posted by XxPuNTeRXx

All I am saying is that it clearly is not as good a car that some people may be mislead to beleve it is.

I would definately purchase a Honda Civic or Mazda 3 over it knowing now that it is not, in any way, a supperior product.

Curious. Why did you not purchase a Honda or Mazda product in the beginning? The reviews were out there. All manufacturers produce a certain amount of lemons.

[ameri_star]

Originally Posted by mrreizor

I'm wanting to trade my 2007 Saturn Vue V6 for an 2009 Corolla. The Saturn purchase was a mistake all the way around and I wish I had never purchased it. Anyways, I'm wanting to take advantage of the 0% APR. Here are the particulars:

I basically want a base model Corolla with automatic transmission and cruise. I was quoted a little over $15K. I'd like a few more options but I can live with these since it will basically be a commuter car.

1) Is this a good price for a base model?

2) How flexible is Toyota with trades? I owe like $16k and KBB trade in is at $12k. Do you think they would offer me $14k? That way, they'll take $2k on my trade and I'll roll $2K into the Corolla loan.

Want my opinion? Go buy a Nissan Versa or something like it with all the trimmings. It'll probably be around 15k when you're done and you'll be much happier. A base Corolla is hardly anything at all and I wouldn't pay 15,000 for that when you could get something nicer in a smaller size for the same money. Just my .02

[djb383]

I'm puzzled by the low mileage on your '07 Vue. Ours consistently gets 17-19 mpg in town stop-n-go traffic running the A/C. On the hwy, cruise set at 70 mph, we get 26-30 mpg. Even pulling the motorcycles, we get 20-22 mpg on the hwy. Is your Vue still under warranty? Have it checked out maybe?

PS

Wifey and I drove the Nissan Versa.......................................and bought the 'rolla.

[ameri_star]

Originally Posted by djb383

I'm puzzled by the low mileage on your '07 Vue. Ours consistently gets 17-19 mpg in town stop-n-go traffic running the A/C. On the hwy, cruise set at 70 mph, we get 26-30 mpg. Even pulling the motorcycles, we get 20-22 mpg on the hwy. Is your Vue still under warranty? Have it checked out maybe?

PS

Wifey and I drove the Nissan Versa.......................................and bought the 'rolla.

HAHA you know what? Me too! But the dealer offering the Versa had about 2 on the lot, so I didn't have many options to choose from. I'm just trying to be... somewhat logical.

[buddy97]

Originally Posted by ameri_star

Want my opinion? Go buy a Nissan Versa or something like it with all the trimmings. It'll probably be around 15k when you're done and you'll be much happier. A base Corolla is hardly anything at all and I wouldn't pay 15,000 for that when you could get something nicer in a smaller size for the same money. Just my .02

the nissan versa is a diappointment in several ways.

1) the mileage is disappointing. go to any versa forum or go to fueleconomy.gov and see what real users are getting. you wont see high 30's low 40's on the highway as you will with a corolla (or even a civic.) the folks who hit 35 mpg are very happy. that doesnt cut it for a so called economy car.
2) its noisy at speed. its just too heavy (2700+ lbs) for the amount of horsepower it has. the corolla is pure comfort and quietness compared to the versa.
3)hatchbacks, in theory, have great utility. the brainstormers at nissan designed a hatchback where the rear seats fold over on top of themselves, leaving no large flat surface that one would desire in a hatchback. nice going.
4) reliability, predicted and otherwise, have never been a strong suit with nissan.

im much hapier with my base corolla because i get much better mileage and the ride is very quiet for the class. the amenities are pretty bare on the base model, but its still the same car as the le minus (primarily) the power windows/locks. i got it for under $15k.

however, i would be stunned if you got $14k for a saturn vue given the current market conditions. if kbb has it at $12k, i think you would be fortunate to get that. they might go 14k, but then get you for msrp on the corolla, which for the auto, including destination, must be in the $16,5k range. you do not want to finance close to $19k on a base corolla. plus, depending on how your state treats trades, you will have to add $1k tax to that, financing close to $20k.