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Old 12-03-2008, 05:48 PM   #1 (permalink)
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Canada How much should I be paying?

I'm buying a Corolla S this weekend, dude is offering me it at $360/month @ 4.9% for 48-Months lease.

with these options:
  • auto transmission
  • moonroof
  • ipod interface
  • mirror with compass
  • bodyside molding
is this at a good price, or could i get it lower?

thanks
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Old 12-03-2008, 06:50 PM   #2 (permalink)
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Do your numbers include a trade-in? One should never buy a vehicle based upon the monthly payment. With that said, I would think you could get the dealer to discount MSRP by +/- $1500 then take the $1500 rebate for a total of +/-$3000 off MSRP. The $1500 rebate is available in our area, may different in your area. Go to Edmonds.com or KBB.com for dealer invoice numbers.
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Old 12-03-2008, 08:14 PM   #3 (permalink)
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Do your numbers include a trade-in? One should never buy a vehicle based upon the monthly payment. With that said, I would think you could get the dealer to discount MSRP by +/- $1500 then take the $1500 rebate for a total of +/-$3000 off MSRP. The $1500 rebate is available in our area, may different in your area. Go to Edmonds.com or KBB.com for dealer invoice numbers.
Keep in mind that in Canada, we'll be lucky to get a discount.
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Old 12-03-2008, 08:17 PM   #4 (permalink)
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I have never leased anything in my life...except an apartment. I came up w/ $17,280 ($360 x 48) to rent it for 4 yrs. Don't seem good to me. I would buy used before leasing....but that's me.
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Old 12-03-2008, 08:21 PM   #5 (permalink)
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Before or after taxes?
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Old 12-03-2008, 08:22 PM   #6 (permalink)
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after tax
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Old 12-03-2008, 08:26 PM   #7 (permalink)
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Why lease?
There's 0% interest. I'd buy on HP and get some residue after 4 years.
Even Toyota's sales are down so maybe you can get some great deals. Just shop around.

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Old 12-03-2008, 08:28 PM   #8 (permalink)
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Why lease?
There's 0% interest. I'd buy on HP and get some residue after 4 years.
Even Toyota's sales are down so maybe you can get some great deals. Just shop around.

not sure if i want to keep the car after 4 years.
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Old 12-03-2008, 08:32 PM   #9 (permalink)
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We had some threads going a while back on Canada prices. Also one for US prices. Probably buried by now cause I haven't seen em in a while. Plus, I bought in Apr this year, so I haven't been paying too much attn lately. I do know that US dealers are struggling and their offering %0 financing, I think all models across the board. Are you buying or leasing? Unless you Canadians are rolling in dough....I'd think right now would be a very good time to buy. Can't give advice on leasing.....never done it. If your buying it for $17,200 after financing costs factored in....seems fair to me. If you try the Internet quote, you'll probably get it a little lower.
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Old 12-03-2008, 09:20 PM   #10 (permalink)
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Quote:
Originally Posted by steelman23 View Post
I'm buying a Corolla S this weekend, dude is offering me it at $360/month @ 4.9% for 48-Months lease.

with these options:
  • auto transmission
  • moonroof
  • ipod interface
  • mirror with compass
  • bodyside molding
is this at a good price, or could i get it lower?

thanks
AS suggested, NEVER base your purchase on "what the payments will be". That is the oldest bunch of BS around. Negiotiate the price 1st, then terms and financing/lease terms. I have had that question posed to me (and I am in my 50's) my answer is payments...I want them to be zero! Now do I walk or are you willing to talk turkey. They usually try and it should be an instant RED FLAG!

Remember even Toyota's sales were in the can last month and sinking. THEY WANT TO SELL YOU A CAR. Now is the time to write a great deal IMHO. Walk the lot and check out how many Corollas are there preferably before they open!. If there are lots...take a tougher stance! Just MHO
Good Luck

Last edited by gizzer777; 12-03-2008 at 09:22 PM.
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Old 12-04-2008, 11:23 AM   #11 (permalink)
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steelman,


Just go online to toyota.ca

Check "price my toyota" add all your options in. Then you'll see what the "regular" price is. THen go to the trade function and put in increasing amounts till you see your $360 a month. That number is the discount they are providing. That's the only thing that matters. I would expect a discount of over $500 on that car. You're not talking US numbers here. If you're in Ontario you should also get a gas card on top of that.

Having looked up the numbers if you are actually getting that number with no money down (other than your first payment) that's a steal. And if you are in a province like Ontario I wouldn't believe you as that number is impossible without any money down or trade.


And everyone from the US making suggestions...keep in mind that Toyota Canada had another record month in NOvember as oposed to the dropping sales in the US. Their is no 0% financing. No cashback and the car in Canada lists at over 21000 plus his options.
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Old 12-04-2008, 11:58 AM   #12 (permalink)
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steelman,


Just go online to toyota.ca

Check "price my toyota" add all your options in. Then you'll see what the "regular" price is. THen go to the trade function and put in increasing amounts till you see your $360 a month. That number is the discount they are providing. That's the only thing that matters. I would expect a discount of over $500 on that car. You're not talking US numbers here. If you're in Ontario you should also get a gas card on top of that.

Having looked up the numbers if you are actually getting that number with no money down (other than your first payment) that's a steal. And if you are in a province like Ontario I wouldn't believe you as that number is impossible without any money down or trade.


And everyone from the US making suggestions...keep in mind that Toyota Canada had another record month in NOvember as oposed to the dropping sales in the US. Their is no 0% financing. No cashback and the car in Canada lists at over 21000 plus his options.

that $360/Month is with $2000 due at signing.
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Old 12-04-2008, 12:28 PM   #13 (permalink)
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Quote:
Originally Posted by steelman23 View Post
that $360/Month is with $2000 due at signing.

If that number is in Ontario you're right were you should be. In Ontario that's like a $700 discount which is great. If you're in a province with less than 13% tax then it goes down accordingly.
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Old 12-04-2008, 12:57 PM   #14 (permalink)
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yes ontario. GTA-brampton to be exact.
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Old 12-04-2008, 04:29 PM   #15 (permalink)
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in ontario, $750 off will bring it to cost.
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