yeah, and it's toyota's entry level car in the NA market now too. Maybe with all these insane prices they will bring the yaris back here?

 

That's insane but at the same time it's the market trying to take advantage of customers who might not have another choice if they can't wait for a new one to be available. Plus an Apex with some accessories/options like one illustrated can easily reach $33K+ new... (vs a basic L for less than 22K). I guess that yes, the era of affordable cars is coming to an end.

 

this...supply and demand...you can certainly buy a brand new one for less, but in most cases you will be waiting a month or more to get it vs. a used one is actually sitting on a lot somewhere that you can drive off in today. Its not just the Corolla, its just about every car made today. Crazy times.

 

Yeah, it's crazy. When I traded in my 2020 Corolla SE Sedan earlier this year for my new 2022 Mazda CX-30 CE (at base MSRP) I was able to get more trade-credit for it than what it was priced at brand new back in late 2019 when I bought it. No way I would buy a used car though for those inflated prices, or even pay more than OEM base MSRP for a new vehicle.

It would be great if Toyota brought the authentic TNGA Yaris hatch (& Cross) to the US/NA market. I like it a lot better than the TNGA Corolla & would have bought one in 2020 if I could have. I loved my 2015 5-MT Yaris SE hatch, & I only traded it in late-2019 because it had been rear-ended earlier that year.

 

As you know, when interest rates rise, so does the cost of everything else. Not debating anything political, but it’s just the way it is. Dealerships are going to take full advantage. Just like they did when the feds had the junk car buy back in early 2000s. Or when the fuel crisis of 2009 ish.

Im hearing people being offered more than their trade in is worth. Anything is fair game when there’s low new inventory. Hustle time.

 

I can tell you right now after driving a '21 XSE Hatchback for two years they are not worth no $35k bucks.

 

they are not worth no $35k bucks.

You are either crazy or desperate to pay $35k

OK but what about $37.75K

 

You are either crazy or desperate to pay $35k

 

Well, I'd say Canadians are at least crazy

That's with no extras

 

Sadly b/c they (manufactures/dealerships) can.

IMO, the tipping point was when:
1) the US auto makers abandoned sedans for SUVs due to consumer demand. This also caused the foreign makers to reduce their sedan offerings and increase their SUV offerings.
2) consumers want more tech in the cars, increasing vehicle production costs.

 

$50k will sound like a bargain for the GR 😂

 

Before buying my hatchback I was also considering a Civic hatchback. Honda dealers were selling 2 year old Civics for $33K. I decided then and there I would order the Corolla Hatchback new and get a car the way I wanted it for $8k less. I had sold my Passat and had my 03 Matrix with 175k miles which I was using for a long commute. I did not want to have to get something fast if the Matrix had problems which it didn't and never does.

 

Markets are insane right now. There’s a ‘22 Hybrid actually listed on AutoTrader in BC for $48,000.

 

With the current state of dealer markups it’s worth keeping your options open rather than focusing on one model or manufacturer. I recently had my heart set on a 22 Civic Si to replace a plug-in hybrid that was a nightmare after a minor accident. Was looking at dealer markups of up to $15k on a car with a $29k sticker. $5k over and a 3 month wait was the best anyone could do. The Volvo dealer I’ve bought my wife’s cars from ended up getting in a pristine 2019 CPO s60 with exactly the options I would choose (T6, r design, Polestar tuned) for similar money. Honestly glad I didn’t end up with the civic now.

 

It is easy for the dealers to install "accessories" on the new cars and bump the price up. It would be up to anybody's imagination what kind of accessories already installed and the price they will charge.

 

Here’s the funny part. When you order a car from Toyotas website, the accessories are shown. Most if not all trims already come with floor mats.

At NUMMI, every car that came down the line got floor mats and hub caps or alloy wheel caps. I get the non standard stuff like the trunk carpet and the heavy duty mats. It is what it is.

A dealer still has to eat. But at the same token, let’s be reasonable. Guess the brick and moartar dealers will be gone in the future.

 

Guess the brick and moartar dealers will be gone in the future.

Hopefully by the time we make our next purchase we can purchase directly from the manufacturer. I don't mind paying an MSRP type price if I know exactly what the price breakdown is and there's no funny business. I value my time and the sellers time, only talk purchase when I know exactly what I want and find that usually works out for a fairly good price in minimal time. Even better if I can just add to cart an not have to deal with any slime balls until delivery

 

Keep in mind the dealer install accessories may not be something from Toyota. For example, tinted windows, paint protections, under coat, fabric protection, etc. Something that can cost good $$ and you cannot opt out.

 

You just don't buy from them. I've never paid for any dealer add on I didn't want and that includes our car we purchased last October right in the thick of this BS.

 

dealer installed options are negotiable - unlike FIO and PIO options which are non-selectable and non-removeable - the Vspec is what you're buying like it or not. A bunch of the dealers near me were requiring things like paint sealant and VIP service memberships as add-ons to the tune of several thousand dollars, but they said "we don't do markups" and some of them STILL did markups on top of that.

 

I imagined flying cars. Alas, that was dreamland.

 

I have a 2021 SE APEX 6 speed and paid out the door a little under 26K for it. Not that great of a car. Not mad that I bought it because I thought it was a good price, but I personally thought my 2003 camary I had before was better overall.

 

Bring the lwb corolla from Europe please Toyota!

 

The prices will remain high or even go higher as long as suckers are out there willing to pay the cost. I know some people need cars and need them now. My wife is driving my '06 Corolla with 370K+ miles on the odo, but we flat refuse to pay that kind of money for a used Corolla or even a new one. Hell, I paid under $37K for my 2019 Highlander XLE AWD when I bought it new. Now, some dealers are asking that for a new Corolla. Not from me.

 

It is what it is.

 

Supply and demand. Wait until the interest rates get higher. Economy slows and then more inflation. There’s no relief for a while.

Supposedly, FORD is the only one that has publicly told its dealership network to stop adding markup or price gouging. They threatened to take their franchisee license away if non compliant.

 

Yeah, that's exactly why most people in Canada outside of a couple cities, weren't getting gouged too bad, just having to pay MSRP. Our market is soooo small comparatively to the USA, like 10x smaller.

 

Here in the states, I had one dealership sell a demo as a new car.

 

if it meets the criteria (less than 5,000 miles) yes the dealer can do so and it’ll have the normal warranty. The market determines the selling price though.

 

I'm glad I bought my '21 Hatch and owned only Toyotas. After my sister had six spark plugs and coils replaced on her 130k mile 2004 Mazda Tribute I wanted to hug my easy to work on Corolla! It was a YGTBKM moment after seeing the intake manifold, EGR system and numerious hoses had to be removed just to get access to the rear 3 plugs.

 

It's best to just forget about pre-2020 prices, I don't see them falling back to that value for years. A three-year-old car with any sort of reliability sells for above its original MSRP unless it has some insane mileage on it already. I imagine after the supply issues are corrected we'll see these cars repeat their initial 20%-30% "new car" depreciation over the following year, and by the time that happens a significant portion of the average car loan will have already been paid. People have been saying "just wait a few months" for two years, but I've only seen prices go up or stagnate.

 

Actually, prices will come down when people stop buying cars due to high interest rates. Inflation is what will hurt any institution that lends money. Especially true when the institution is being charged more to lend from the central bank.

The pandemic created the perfect storm in a way. People moved away since they became mobile. Van life is alive again and people who otherwise can’t buy homes are moving around in a rv.

Yeah prices will remain high for the short term. When bottom falls out on the real estate market, so will car prices.

Like in the mid 2000s when gas prices went up. Truck and suv values plummeted because everyone was trading them in for a Prius.

 

I just bought a 2022 Corolla SE for $25K new, 3 months ago, now I can sell it for $29K I have been offered $27K as a trade in on a Kia N line Forte, which I really wanted, but I needed a car, and I found one new Corolla in a desert dealership,, at the end of May, who needed sales to get there kick back from Toyota, as new car sales are dropping, there not meeting sales targets, and the Kia was 3 months wait, now the Corolla is growing on me, and knowing its worth more than I paid, is good too, strange times, and with new car proudution slated to be low for years too come, and the chip shortage continuing, I may well end up keeping it.

 

Don't forget the taxes and fees that you probably paid the first time and you'll have to pay again.

In MD the tax alone is $1500, plus the BS dealer fee of $500. Tag transfer is a maybe a little less than the first time.