The cost of my new Prius is....

Springtime · 12-22-2005, 04:52 PM

I just left a deposit on my new 2005 silver pkg#6, to be picked up on 1/2/2006. It took 3 weeks of research and I considered traveling to three other Toyota dealers within a 30 mile radius before my local dealer gave me the price I wanted.

Originally I wanted a 2006 pkg #4 which my local PA dealer said he could not get. The alternative was to move up to a 2006 pkg #6. Because of a problem I have with driving at night and a discussion on this board about the HID head lights I seriously considered moving up to a pkg#6 ( HID is not available on 2006 pkg #4). After getting lost on the way home due to an accident and an unfamiliar detour I really wanted the NAV system as well but the 2006 pkg #7 was out of my price range.

I had already set a maximum in my mind of spending no more than $28K (before any tax rebates) and this maximum was to include tax and tags. Planned on using $20K from mutual funds and finance the balance of $8K.

Dealer B quoted me MSRP for 2006 pkg #4 - would have to order - 120 days. This dealer also had a 2005 pkg #6 available for $27,900 plus tax and tags. This dealer would not discount off of MSRP.

Dealer C also said he could order 2006 pkg #4 at MSRP - 120 days. He had a 2005 pkg #4 coming in this week he could offer me at $1000 off of the MSRP. (The 2005 #4 has HID).

Dealer D had over 30 cars in stock - a mixture of 2005's & 2006's. I figured it would be worth the 30 mile drive to see if I could get a deal on a 2005 pkg #6.

Started with my local dealer - he could offer me $347 off the MSRP of a 2006 pkg#6 bringing the price down to $26K plus tax and tags. I told him I wanted to drive 30 miles to see dealer D and see if I could get a 2005 pkg#6 with NAV for $26K. He said sit tight and let him make some calls. Based upon the color, I think he swapped with dealer B and sold me the car for $26316 plus tax and tags. He also did the financing at 5.55% through Toyota for $8K for 3 yrs. (I could have gone through my local bank for 4.99% but the savings was not worth the hassle.)

I sold in December mutal funds that would generate a capital loss in 2005 to save myself $810 in taxes in 2005. The remaining mutal funds will be sold in 2006 to create a capital gain and just qualify me to take full advantage of the $3150 tax credit in 2006. PA may still have a money pool available to issue a $500 rebate for hybrid cars purchased in the state and I get a $10 cash back reward by putting a $1000 downpayment on my Discover card. I plan to pay off the 3yr loan in one year after I get my tax rebate. The net cost of my 2005 silver Pkg #6 including finance costs for 1 yr is $23,998.46. My dealer and I are both happy campers today!

Springtime

Godiva · 12-22-2005, 05:06 PM

So, you're picking it up and signing everything in January to get the full tax benefit? Great.

So Local Dealer is Dealer A?

Sounds like you did very well.

No early payoff penalty? Again, great deal.

Sounds like you really did your homework. Just goes to show what patience, perseverance and a little effort can get you.

If you consider the extended warranty, make sure you go through our Troy here and you'll get another really good deal.

I also highly recommend Brian's stiffening plate. You can put it in yourself.

Jack 06 · 12-22-2005, 05:17 PM

Wow, I'm impressed, Springtime, and I'm glad you posted this as an example.

Would you like to be my money manager?

Springtime · 12-22-2005, 06:13 PM

Quote:

Originally posted by Godiva@Dec 22 2005, 06:06 PM
So, you're picking it up and signing everything in January to get the full tax benefit? Great.

So Local Dealer is Dealer A?

Sounds like you did very well.

No early payoff penalty? Again, great deal.

Sounds like you really did your homework. Just goes to show what patience, perseverance and a little effort can get you.

If you consider the extended warranty, make sure you go through our Troy here and you'll get another really good deal.

I also highly recommend Brian's stiffening plate. You can put it in yourself.

[snapback]177626[/snapback]

The homework was done on this board. I particularly want to thank Kiloran for his spreadsheets on the 2005 and 2006 MSRP and dealer profit so I knew exactly how much each option cost and how much wiggle room the dealer had.

Thank you people who discussed the value of HID - I have bad night vision and HID not being available in the 2006 Pkg #4 was key in my decision to eliminate that package from consideration.

Thank you to all those who talked about the NAV. The 2006 Pkg #7 with NAV was out of my pre established price range - but I am the one with no sense of direction and I was able to afford to get the 2005 pkg #6 with NAV for what it would have cost for the 2006 pkg #6 without NAV.

When I get my tax refund in 2007 and pay off my outstanding loan balance I will come here to buy the extended warranty.

I will chack out the stiffinng plate as you suggested.

I will also be donating to this site and pick up a free tee shirt. It has certainly saved me a bundle of money!

I guess I can say I am now officially a member of a cult! I know more about this car than any car I have ever owned!

Springtime

Kiloran · 12-22-2005, 06:15 PM

Quote:

Originally posted by Jack 06@Dec 22 2005, 06:17 PM
Wow, I'm impressed, Springtime, and I'm glad you posted this as an example.

Would you like to be my money manager?

[snapback]177631[/snapback]

Forget that! If I weren't already married...

HokieHybrid · 12-22-2005, 06:34 PM

Nice work! Negotiating with a dealer has been something I am dreading, so I am planning to do a bit of calling around once I'm ready to buy the car (including an area where I regularly travel for business...outside Prius heavy Northern Virginia). I also plan to take either my father (for his experience) or my sister (for her law degree) with me to sign all the paperwork.

I managed to get a Prius on loan for two days last summer, after attempting to rent one from a Toyota dealer and being refused for being too young to rent "a two door car." They offered me a Corolla, but that missed the point. I found out later the used car manager of the same dealer was a friend of my parents, and after one phone call from my dad he said "Oh let me know when she'll be home for a few days and I'll just bring one by." I feel much more comfortable in my decision to go with the Prius now, and if they have a comparable price, I'll be buying it from them since they were so helpful (even if the rental department is a little screwed up).

Congrats on getting what you wanted for the price you can afford!

Merry Christmas and Go Hokies!

galaxee · 12-23-2005, 11:29 AM

[applause!] way to go!

DanMan32 · 12-23-2005, 02:20 PM

Quote:

Originally posted by Kiloran@Dec 22 2005, 07:15 PM
Forget that! If I weren't already married...

[snapback]177652[/snapback]

What does that have to do with being a money manager?

Kiloran · 12-23-2005, 02:25 PM

Quote:

Originally posted by DanMan32@Dec 23 2005, 03:20 PM
What does that have to do with being a money manager?

[snapback]178150[/snapback]

Smart wimminz iz attractive. :P

Jack 06 · 12-23-2005, 02:26 PM

Quote:

Originally posted by DanMan32@Dec 23 2005, 12:20 PM
What does that have to do with being a money manager?

[snapback]178150[/snapback]

Something about the exchange rate...

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12-22-2005, 04:52 PM	#1
Springtime Senior Member Join Date: Nov 2005 Location: Eastern PA Posts: 144 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	I just left a deposit on my new 2005 silver pkg#6, to be picked up on 1/2/2006. It took 3 weeks of research and I considered traveling to three other Toyota dealers within a 30 mile radius before my local dealer gave me the price I wanted. Originally I wanted a 2006 pkg #4 which my local PA dealer said he could not get. The alternative was to move up to a 2006 pkg #6. Because of a problem I have with driving at night and a discussion on this board about the HID head lights I seriously considered moving up to a pkg#6 ( HID is not available on 2006 pkg #4). After getting lost on the way home due to an accident and an unfamiliar detour I really wanted the NAV system as well but the 2006 pkg #7 was out of my price range. I had already set a maximum in my mind of spending no more than $28K (before any tax rebates) and this maximum was to include tax and tags. Planned on using $20K from mutual funds and finance the balance of $8K. Dealer B quoted me MSRP for 2006 pkg #4 - would have to order - 120 days. This dealer also had a 2005 pkg #6 available for $27,900 plus tax and tags. This dealer would not discount off of MSRP. Dealer C also said he could order 2006 pkg #4 at MSRP - 120 days. He had a 2005 pkg #4 coming in this week he could offer me at $1000 off of the MSRP. (The 2005 #4 has HID). Dealer D had over 30 cars in stock - a mixture of 2005's & 2006's. I figured it would be worth the 30 mile drive to see if I could get a deal on a 2005 pkg #6. Started with my local dealer - he could offer me $347 off the MSRP of a 2006 pkg#6 bringing the price down to $26K plus tax and tags. I told him I wanted to drive 30 miles to see dealer D and see if I could get a 2005 pkg#6 with NAV for $26K. He said sit tight and let him make some calls. Based upon the color, I think he swapped with dealer B and sold me the car for $26316 plus tax and tags. He also did the financing at 5.55% through Toyota for $8K for 3 yrs. (I could have gone through my local bank for 4.99% but the savings was not worth the hassle.) I sold in December mutal funds that would generate a capital loss in 2005 to save myself $810 in taxes in 2005. The remaining mutal funds will be sold in 2006 to create a capital gain and just qualify me to take full advantage of the $3150 tax credit in 2006. PA may still have a money pool available to issue a $500 rebate for hybrid cars purchased in the state and I get a $10 cash back reward by putting a $1000 downpayment on my Discover card. I plan to pay off the 3yr loan in one year after I get my tax rebate. The net cost of my 2005 silver Pkg #6 including finance costs for 1 yr is $23,998.46. My dealer and I are both happy campers today! Springtime

12-22-2005, 05:06 PM	#2
Godiva AmeriKan Citizen Join Date: Apr 2005 Location: San Diego, CA Posts: 9,947 My Car: 2005 Prius Package: #1 Nominated 3 Times in 2 Posts TOTM Awards: 0 Friends: 6	So, you're picking it up and signing everything in January to get the full tax benefit? Great. So Local Dealer is Dealer A? Sounds like you did very well. No early payoff penalty? Again, great deal. Sounds like you really did your homework. Just goes to show what patience, perseverance and a little effort can get you. If you consider the extended warranty, make sure you go through our Troy here and you'll get another really good deal. I also highly recommend Brian's stiffening plate. You can put it in yourself.

12-22-2005, 05:17 PM	#3
Jack 06 Join Date: Oct 2005 Location: Winters, CA: Prius capital of US. 30 miles W of Sacramento Posts: 2,567 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Wow, I'm impressed, Springtime, and I'm glad you posted this as an example. Would you like to be my money manager?

12-22-2005, 06:34 PM	#6
HokieHybrid Senior Member Join Date: Dec 2005 Posts: 196 My Car: 2006 Prius Package: #6 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Nice work! Negotiating with a dealer has been something I am dreading, so I am planning to do a bit of calling around once I'm ready to buy the car (including an area where I regularly travel for business...outside Prius heavy Northern Virginia). I also plan to take either my father (for his experience) or my sister (for her law degree) with me to sign all the paperwork. I managed to get a Prius on loan for two days last summer, after attempting to rent one from a Toyota dealer and being refused for being too young to rent "a two door car." They offered me a Corolla, but that missed the point. I found out later the used car manager of the same dealer was a friend of my parents, and after one phone call from my dad he said "Oh let me know when she'll be home for a few days and I'll just bring one by." I feel much more comfortable in my decision to go with the Prius now, and if they have a comparable price, I'll be buying it from them since they were so helpful (even if the rental department is a little screwed up). Congrats on getting what you wanted for the price you can afford! Merry Christmas and Go Hokies! __________________ 2006 #6 Black with Silver Pinstripes!!! Yet another Cool Chick in a Black Prius!

12-23-2005, 11:29 AM	#7
galaxee running WOT until out of fuel Join Date: Mar 2005 Location: central NC/ western WI Posts: 9,033 My Car: 2005 Prius Package: #5 Nominated 5 Times in 3 Posts TOTM Awards: 0 Friends: 21	[applause!] way to go!