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Is it bad economy ?

  #1  
Old 04-29-2009, 10:14 AM
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Default Is it bad economy ?

So this weekend I went to shop for a car.
I just stopped at a large Toyota dealership and after I received a usual sales pitch from a salesman I asked for how much I could by an LE. The dealer pointed me to the sticker with MSRP. This was not my first buying attempt so I asked for how much they would sell it. He just answered that "People just buy for MSRP". OK, that was not the only dealership in town so I stopped at their neighbour - this was Honda. The same amazed face with no understanding what I was talking about when I asked if they coud go lower than MSRP. The third one - the same. I got tired and would buy a car even if they gave me a $200 discount. ( of course I did not say that but was expecting it from the dealer) So I came empty handed home and then recalled a TV ad offering a good price. I called that dealership and they just said - "Sure we will honor the price" Couple of hours later I drove off the dealership in a new Camry"

So about the first ones : Is the slow sales just a tale ? Or we are out of the economy pit ? Or just inexperienced/greedy salesmen ?
 
  #2  
Old 04-29-2009, 05:30 PM
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Toyota is having the first earnings loss in its history.

Honda is also hurting. The local Honda dealership states new cars sells are down 75%, this is a larger dealer.

Suspect the sales types were attempting to earn extra cash on what cars they do sell, they also need to pay the bills. And if a buyer goes for MSRP, then it worked for them.

Once you came across with a firm offer they accepted.
 
  #3  
Old 04-29-2009, 07:04 PM
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Go to Edmunds.com. It took 4 clicks to see that a 2009 Camry 4cyl, Automatic has about $2000 markup. Do a little reasearch and go make a reasonable offer, but don't expect them to give away the farm just because you asked. Also don't make an offer if you aren't ready to buy it if they accept. I may be wrong but I doubt you will get the $100 over invoice price that Chevy and Ford dealers are getting but remember you aren't buying a Chevy or Ford. Also know the most you will pay. I would start with about $500 over the invoice and see what they say. The worst answer you will get is "no" and you will get them in a negotiating mood. Maybe MSRP is the going price, maybe not, but you will have to start the ball rolling to see. Good luck. Buying a car can be overwhelming.
 
  #4  
Old 04-30-2009, 09:39 AM
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Originally Posted by toyomoho View Post
Toyota is having the first earnings loss in its history.

Honda is also hurting. The local Honda dealership states new cars sells are down 75%, this is a larger dealer.

Suspect the sales types were attempting to earn extra cash on what cars they do sell, they also need to pay the bills. And if a buyer goes for MSRP, then it worked for them.

Once you came across with a firm offer they accepted.
Sure but not matter if the economy is bad or good if one wants too much he usually gets nothing. At the dealership that I bought the car from they explained that tre reason of the good deal was the cash rebate Toyata currently offers It is something $1500. So the dealership that wanted full MSRP also eyed pocketing that rebate. So they have no sale in this case and if they continue this practice they will be left with a full lot of unsold cars when the rebate expires. Sure they will complain that the sales are down.
 
  #5  
Old 05-10-2009, 10:46 AM
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Many dealers are known for shady sales practices. Dealers are hurting. Do your research on rebates, invoice price, etc then come to your own price. It is a buyers market!!
 
  #6  
Old 05-29-2009, 08:58 AM
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Default Is it bad economy

A good tell tale or indicator of how well or bad our economy is doing can be seen in the increase or decrease in rail traffic. Or another way to say it: A drop or increase in the number of trains over any of the mainlines or transcons. If the economy is slow, so are the trains. You can depend on this being a dependable measure and usually the first indicator that somethings up.
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  #7  
Old 06-03-2009, 11:39 PM
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Default New 2010 SE

I'm not new to Toyota, but today I got my first Camry. It's a black 2010 SE with the 18" TRD wheels.

My wife and I went to the dealer to do a recall on the 08 Hylander Limited. We travel a lot and it was at 36,000 miles. We weren't to lucky with it in parking lots there were at least 4 on the passenger side and a big rock ding in the hood.

We noticed a black SE in the show room while we were waiting. The salesman that I have purchased four cars from since 06 came up and showed us the car. We had not planned on trading but when we returned he said that he had an easy offer for us to consider. The dealer would trade straight up for the Hylander. We would pay for the transfer of the plates and the doc fee.

I keep track of the KBB on my cars and that was about 5K over what I thought the Hylander's trade in value was. Went in filled the paper work out and drove it home.

I like the suspension and overall handling of the car. I had an 06 Avalon and it pitched and dived all over the place.

The SE had the optional TRD 18" rims and they really make the car look like a four door sports car.

I think the dealer must have some incentives to move the Camry's especially the 2010's. This dealer had 1,000 cars on the lot.
 
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