Questions on 2010 Prius deal

Welcome! I have heard that the 2011 won't hit the showrooms till later in the spring. There should be plenty of 2010s around though. Have you talked to Dianne Whitmire yet?

 

If you want THE best value then buy used. The difference between a December price and November price is nominal compared to the amount and speed at which the value of your new car drops once you drive off their lot, and pales compared the savings you get from buying used.

 

See Consumer Reports magazine in a library or online for car buying advice.

Buying a new car is expensive. Borrowing money to buy a new car makes it even more expensive. Buying a clean used car will save you thousands, and paying cash saves more.

 

Unless you have to borrow money to buy the car - at that point interest rate plays into the equation, and even credit unions are up to about 5% now vs .9% - at that point you have to weigh the numbers, and the fact that you are buying a "year old" car (2010).

 

I believe the Toyota 0.9% deal is limited to $15,000 borrowed. And you only get that rate if you have a very good credit history. Check the fine print to be sure.

Based on the current Prius inventory estimates of ~19,000 there will be 2010 models around for at least the next 2 months. Sales have averaged around 10,000/month this year so far.

 

I bought 2 cars a week before Xmas 09'
10' Prius V and a 10' Honda Element!!
I was told it's the best time to buy, the show rooms were dead!!
A lot of dealers here now have UPFRONT pricing or one price!!
The dealer will get there $$$ one way or another with there B.S. fees!
Had a dealer tell me they lose money on some cars...Right!!
$200 dollar paint sealants...Rustproofing...Etc...
Just say NO!!!

Check for incentives here:
Buyatoyota.com

 

:welcome: Read through www.carbuyingtips.com & get up to 3 dealer quotes at www.aaa.com. The market is still depressed although somewhat better than last year. There are acres of II's and as the weather turns crappier people won't shop for cars. Happy hunting.

 

There is absolutely no limit to the amount you can borrow at 0.9 on Prius. As long as you are within reason, there's no 15K cap. Where did that info emanate from? It's wrong.

You also do not have to walk on water credit-wise for that rate. You can be as bad as a 650 fico score to get it.

It doesn't matter how many cars there are in the nation -- it matters TO HIM how many cars are in Southern CA ... and that's a far smaller number than 19,000 ...

I have 63 Prius left in 2010 models. I could get more with dealer trades, but at the rate these are selling, and the 2011's coming quick ... these #'s will dwindle fast and the cheapest stuff/best stuff is nearly gone anyway. All of these things factor into the question: do I wait, or do I not?

My reply: wait at your own risk! You have to be very flexible to get down to the wire... and frankly, pretty "out there" to expect a the premium cars (gray and black and pearl white IVs with or without sunroofs, and gray or black or white III's ) to still be around as the 2011's start dropping. If you're open to color and package, then wait. You are sure to get something... but if you're specific to color or package and it's a popular one ... you shouldn't drag your feet!

Dianne

 

I saw it in an Elmore Toyota newspaper ad. Looking at it again it appears to be only for their used car financing.

 

I bought a 2010 Prius III a couple weeks ago and I got 0.0% financing through Toyota Financial. That made the decision to upgrade from a bare II to a loaded III a lot easier. 0.9% is pretty good IMO though. Then again, I'm new to the "good" credit rating.

 

That's because the TFS rates for a used Prius that is certified are 2.9
so they offer a low rate and limit the loss to a $15000 loan, because they have to figure out how much the diff between your 0.9 and the real 2.9 is on your loan and pay it. That financing chargeback hits your deal and affects your selling pricing. I'll bet if you do not take the 0.9 that they may have advertised on their few used certified Prius, and offered cash, they'd settle for less for the car.

I could, in theory, offer 0% for 60 months on every single Prius on my lot. The difference between 0% for 60 months on a $25000-28000 loan and 0.9 is probably about $700 bucks. I just have to make sure that there's at least $700 profit in the car to cover the TFS chargeback... and I can do that on every single car too. But -- that's a silly game. It affects your sales tax, it affects your license fees, and seems gimmicky to me. Yet, there are people who fall for it. Oh well.

 

Or live in NY where 0.00% is the current deal for 36-60 months. I guess the prius sells better in CA so they don't need to offer 0.00. I think I am going to jump on a white 3 at the end of the month because of this deal.