Buying A New Toyota? Here's The Best Tactic To Get The Lowest Price
(Note: Written in 2009 but still works exceptionally well today.)
Well, the internet has most definitely leveled the playing field when it comes to car buying.
It wasn't long ago that car shoppers were basically at a dealer's mercy when it came to bargaining price. After all, the dealer had all the "inside" price information while the consumer was simply guessing and would never really know what a good price was.
The bottom line was simply lots of confusion for car buyers.
But the internet changed all this ... at least for those who use it.
So, What's The Secret To Low Prices On New Toyota Cars?
No, it isn't that invoice prices are now available on the internet, although of course this is very helpful information. Sure, being aware of what dealers supposedly paid for a specific vehicle is a step in the right direction when you buy a new Toyota. So, by all means, get invoice prices from sites like Edmunds.com and NADAguides.
But the truth is, invoice prices can be inaccurate ... and sometimes, very inaccurate.
Secondly, any car dealer worth their salt is now ready for shoppers armed with internet invoices. They've had to adapt to this, and they have.
Frankly, it's even become a bit comical to them. They will convincingly argue why your information is wrong and can't be trusted. Then they'll pull out their own invoice to prove to you that the true price is actually higher.
No, the key to a rock bottom new car price can't be found in internet invoice prices.
The Best New Car Price Comes From Getting Multiple Competitive Car Quotes.
Yes, the "name of the game" in car haggling is to simply request Email car quotes from competing dealerships before having any discussions at all about price ... actually, before even setting foot in a dealership.
The specific quote method I'm going to introduce you to not only gets dealers fighting for your potential business, but it also all takes place from the comfort of your own home ... not face-to-face. So this very effective method also has the additional benefit of reducing the stress factor.
Making this technique even more effective is the fact that auto dealerships are taking a hit in the pocketbook right now due to the financial crisis and the overall negative economic environment. They now find themselves with large inventories of vehicles that simply must be sold to cut their carrying costs.
The result has been absolutely outstanding prices for Toyota buyers who have been using this method because Toyota dealers are doing a bit of sweating right now.
And here's some recent news items that point out what Toyota's been going through ... bad news for them is good news for car buyers.
From The Associated Press:
"Toyota Motor Corp. said Monday its global sales in the July-September quarter fell for the first time in seven years due to faltering demand in the U.S."
From Bloomberg.com on the outlook going forward:
"U.S. auto sales this month may fall to their lowest rate in at least 25 years as showroom traffic slows ... "
And from Reuters:
"But the Tokyo Shimbun newspaper said on Wednesday that Toyota was expecting an even bigger profit drop, saying the automaker's operating profit would fall more than 47 percent to 1-1.2 trillion yen ($10-12 billion) in the year to next March."
And J.D. Power and Associates has slashed its forecast for US auto sales. Toyota not only is feeling the pain right now, but it likely will continue.
And they expect it themselves. They've cut new vehicle production for two consecutive months.
But please understand I'm not saying that Toyota is in any danger financially. They are very well capitalized and are in much better shape than the American carmakers.
The fact is that auto sales are down pretty much across the board.
Even under normal conditions, the competitive price quote technique gets the best prices. But, and this should be no surprise, it works all the better when auto sales have slowed due to the dealers need to book any business they possibly can.
And in terms of selection, we particularly like the new Toyota Corolla and the new Toyota Camry. These are well built, good gas mileage vehicles with proven track records for reliability and durability. Either would be very good choices in this soft market.
And in terms of hybrids, we believe the 2009 Toyota Prius is again leading the way. In the SUV market, the new Toyota RAV4 is one of the top picks out there in the small SUV segment.
Lastly (and even more beneficial to Toyota buyers right now), is the fact that there are still plenty of new 2009 Toyotas sitting on dealer lots. And we've been hearing of very aggressive discounting on these (again, when using this technique) due to the need to make way for the 2010 models.