Looking for opinions here. My fiance and I are looking to trade in our 06 corolla s. I can get the 0% on the 2010 Yaris or the 2010 Corolla, but if we get another Corolla I prefer the S which is now 1.9% (still fine, but I am trying to keep the payment about the same as we currently pay).
She likes the Yaris better than the 10th gen Corolla, but I think that it will be too small with a carseat in the back. This will be even worse if we were to have the need for a second car seat. Also, I am not to impressed with the crash ratings for it in comparison to the Corolla.
She purchased the 06 without me, and for some odd reason her mom thought it best to take an 84 month loan at 5.4% over the 2.9% 60 month loan that was being offered at the time. I never looked over the paperwork until about a year into it and found they did this. That being said, there is around 4k negative equity on the car because of it.
What do you guys think? Keep the 06 and pay it off (almost 3 years left), get a 2010 Yaris and be out of the equity mess after about 3 years but extend payment for 2 more years from what is remaining, get a 2010 Corolla LE and also be out of the equity mess in 3 years and same on the extended payment. Payment would increase by $58 a month on the yaris, $78 a month on the LE, and $100 a month on the S.
We have an 02 Echo, which is the precursor to the Yaris, and has the same engine I believe. My family of four found that we all got sore backs on trips over 2 hours long in the Echo, so we just use it as a city commuter. It gets about 1 or 2 MPG better than my 09 Corolla LE. The Corolla is just enough bigger and more comfortable that we use it for 10 hour trips without problems. So in picking between the two, I would consider if you ever intend to take the car on long trips such as vacations. If so then I would recommend the Corolla. The money part really comes down to what you want to do, but it is good you know the cost of your options, so you can make a wise decision for your situation.
The Echo is relatively quick and handles well, so it is fun to drive in town. The same is probably true for the Yaris. The 1.8L 10th gen Corolla does not feel as quick or fun in town (it is ok though), but it is much better on the open highway. If I slow down to 55MPH on the highway on cruise control, I can get 43 MPG with the Corolla. Thats pretty good for a conventional engine and automatic transmission.
I would say rent the Yaris for 2 or 3 days and drive around to do your what you do on a regular bases. See what you or your wife thinks of a car. Since you already dive a corolla, the new one would be the same, except the car is a bit larger.
I already have a 2010 S with every option available and love it. I am thinking it best to just let her keep the 06 for now as she puts 25k a year on her car so it will be driven out of warranty in a year and a half.
I already have a 2010 S with every option available and love it. I am thinking it best to just let her keep the 06 for now as she puts 25k a year on her car so it will be driven out of warranty in a year and a half.
Her car has 102k
Good call. I'd keep the old car too. It will last till at least 300K+ miles.
If you decide to get a new car than I'd suggest to wait until the next gen arrives for both Corolla and Yaris in spring/summer 2011.
__________________
Last edited by corollale10; 05-23-2010 at 01:00 AM.
id also recommend keeping the current car. it'll definetly last with proper maintenance, and you wont have to deal with rolling negative equity into a new loan. if you can afford to pay more per month, try and put that money towards the current loan to avoid paying some interest.
I already have a 2010 S with every option available and love it. I am thinking it best to just let her keep the 06 for now as she puts 25k a year on her car so it will be driven out of warranty in a year and a half.
Her car has 102k
That's pretty much what I would have done if I were in your position.
The 9th and 10th gen were quite similar in a lot of respects to not warrant the upgrade. Save for the engine and styling change of course.
The downgrade to the Yaris would not be wise considering the additional 2-year financial hole you would put yourself in. Even much less so when you realize you're getting a lesser car as well.
__________________
Quote:
Originally Posted by TURBO Das Automagazin
A BRZ, a curvy mountain road makes one liter of happiness hormones.
Last edited by PhatRoyale; 05-23-2010 at 01:40 AM.
id also recommend keeping the current car. it'll definetly last with proper maintenance, and you wont have to deal with rolling negative equity into a new loan. if you can afford to pay more per month, try and put that money towards the current loan to avoid paying some interest.
I just paid this months payment online and doubled it. If I double it every month I will almost have it paid off by the time I was expecting it to be (5.5 years rather than 5).
I have maintained it well I believe, but as it is hitting the higher mileage I am a bit at a loss at what to do next. Has really only had the belts, hoses, all fluids, battery, front brakes done over the 100k miles.
id also recommend keeping the current car. it'll definetly last with proper maintenance, and you wont have to deal with rolling negative equity into a new loan. if you can afford to pay more per month, try and put that money towards the current loan to avoid paying some interest.
+1
Any time I've bought a car I paid extra principle to pay it off quicker. My 09 Corolla S is the first car I'm not doing this on because I bought it for 0% interest so it's not worth it. I make 3% on my money from my credit union so it's better to leave my money in the bank!
__________________ 89 Supercharged White MR2 5-speed / 09 Corolla S CSM 5-speed
07 Matrix XR Gray Pearl 5-speed (sold 11/23/11)/ 94 Corolla DX Red 5-speed / 95 Previa S/C White Auto/
07 Corolla CE CSM 5-speed/ 10 Prius III Blizzard Pearl
With 0% financing you still pay an amount per $1000 financed. It's in the small print. I would keep the 06', its a much better engine. Seen them with over 200k on em and running strong.
__________________
2010 Corolla S Black-Auto-Fujita SRI-Debadged -Mobil 0W-20 Oil-Nokya Yellow Fogs-All led swap-TRD FSB-TRD Lowering Springs-DDM 6k HID-Shift boot/CF Shift Knob-20/35 Tints-Tenzo r Cuzco Wheels-SmokeTail Lights
On the way: Borla exhaust-DC Sports Headers
With 0% financing you still pay an amount per $1000 financed. It's in the small print. I would keep the 06', its a much better engine. Seen them with over 200k on em and running strong.
I just bought a car, and took out a 60 month loan at 0% financing. I'm not paying anything extra. The amount I'm paying a month, for the next 60 months comes out to how much the cost of the car is.
With 0% financing you still pay an amount per $1000 financed. It's in the small print. I would keep the 06', its a much better engine. Seen them with over 200k on em and running strong.
Sounds like you got ripped off than.
Quote:
Originally Posted by FlameyFart
Really? Are you sure your dealer didn't tag on this extra BS fee?
The amount that I loaned and the amount that I need to pay back are exactly the same, according to online Toyota Financial Services.
+1
Quote:
Originally Posted by KAG
I just bought a car, and took out a 60 month loan at 0% financing. I'm not paying anything extra. The amount I'm paying a month, for the next 60 months comes out to how much the cost of the car is.
x2
My payments add up to exactly what the selling price of the car was.
__________________ 89 Supercharged White MR2 5-speed / 09 Corolla S CSM 5-speed
07 Matrix XR Gray Pearl 5-speed (sold 11/23/11)/ 94 Corolla DX Red 5-speed / 95 Previa S/C White Auto/
07 Corolla CE CSM 5-speed/ 10 Prius III Blizzard Pearl
The AutoGuide.com network consists of the largest network of enthusiast-owned enthusiast-operated automotive communities.
AutoGuide.com provides the latest car reviews, auto show coverage, new car prices, and automotive news. The AutoGuide network operates more than 100 automotive forums where our users consult peers for shopping information and advice, and share opinions as a community.
ToyotaNation.com is an independent Toyota/Lexus enthusiast website. ToyotaNation.com is not sponsored by or in any way affiliated with Toyota Motor Sales, USA, Inc. The Toyota, Lexus and Scion names and logos are trademarks owned by Toyota Motor Sales, USA, Inc.
K2
Sylvia
-Fujita SRI-Debadged -Mobil 0W-20 Oil-Nokya Yellow Fogs-All led swap-TRD FSB-TRD Lowering Springs-DDM 6k HID-Shift boot/CF Shift Knob-20/35 Tints-Tenzo r Cuzco Wheels-SmokeTail Lights
Are you sure your dealer didn't tag on this extra BS fee?
Linear Mode
