2010 3dr Yaris

[oyceelol]

Hi guys, Imma get the 2010 3dr yaris in two weeks. I live in SF bay area. I am still a poor college student so I am going to finance the car for 60 months with 0% APR hopefully.

I am looking for the auto black 3 dr with powered package, what price should I be expecting?

I did some research online, and the average invoice price paid for the same car with same options is 13500, so I should expect a 15000 OTD price?

Thanks everyone

[YarisOwnersDad]

Welcome to the forum! Good luck in your quest for a Yaris. I hope you get a killer deal. I have no useful info for you, but I just wanted to wish you luck.

Tom

[STC]

Welcome...

You're shooting for a reasonable price! Good luck on your purchase...

Here is some info... 94701 zip... Berkley... 3dr -Auto, Black, Power package.

Hope the link works... use the Edit Options Button below the chart to check the packages and other options...

http://usnews.rankingsandreviews.com...029/?zcd=94701

Cheers...

[oyceelol]

One more question, what do I have to pay when I sign the contract?

[STC]

These are the certain fees that are unavoidable and you will have to pay:
1. Destination charge
2. Title and Registration
3. Documentation fee, and
4. State Sales Tax

The Destination charge - is actually on the invoice sticker.
The Title and Registration - depends on new or transfer... and the state.
The Documentation fee - is a modest charge for processing documents establishing the registration and title. This fee should be around $50 to $100. Anything over you should question.
State Sales Tax - self-explanatory.

And if you hear from the dealer... a "prepration fee?" Then run! You want to avoid any dealer preparation fee... This is a scam! Avoid paying at all costs.

Also, disability insurance and credit life insurance are big add-on for the dealer. They will ask this! Remember, that is why you have car insurance...

Hope it helps!

[YarisOwnersDad]

Originally Posted by oyceelol

One more question, what do I have to pay when I sign the contract?

If you are asking how much money you must pay at the time you make the deal, that depends on whether or not you are going to be making a cash down payment.

Usually, no money changes hands at the dealership when there is no cash down payment. The financing usually includes all the fees, so you just start making your payments and don't pay anything at the time you buy the car.

Tom

P.S.

If all of this buying a new car business is brand new to you, and it sure sounds like it is, then you should get a friend who knows the ropes to go with you. You are "ripe for the picking" and stand a good chance of being taken advantage of at the dealership.

For example, if you let the dealer pick the bank that will finance you car, he will most likely pick the bank that is most favorable to the dealership and not necessarily the lowest interest rate. The finance guy didn't bother to ask where my son wanted to finance his new Yaris and just started the paperwork for Toyota financing. I was present, and I said, "Hold on a minute. What is the interest rate?" I believe it was going to be 8%, and that was way high,so I had the guy go with another bank. The thing is, I knew what to expect for an interest rate, and I was able to see that what Toyota wanted was out of line.

[bitz767]

are you still an undergrad or a grad student? If you have graduated college within 12 months i think, you can get a 1000 rebate. I used that like a down payment on the car. I also got 0% for 60 months. They said as long as you graduated and have a job they can pretty much give any credit score the 0% so make sure you can get that. I got mine for 15 otd after the rebate, but got a 100k bumper to bumper just in case. Good luck

[STC]

Originally Posted by YarisOwnersDad

If all of this buying a new car business is brand new to you, and it sure sounds like it is, then you should get a friend who knows the ropes to go with you. You are "ripe for the picking" and stand a good chance of being taken advantage of at the dealership.

For example, if you let the dealer pick the bank that will finance you car, he will most likely pick the bank that is most favorable to the dealership and not necessarily the lowest interest rate. The finance guy didn't bother to ask where my son wanted to finance his new Yaris and just started the paperwork for Toyota financing. I was present, and I said, "Hold on a minute. What is the interest rate?" I believe it was going to be 8%, and that was way high,so I had the guy go with another bank. The thing is, I knew what to expect for an interest rate, and I was able to see that what Toyota wanted was out of line.

That is right! You have to enter the dealership with a full clip of ammo!

The dealership used many techniques to try to take advantage of me. I had done all my number crunching for all scenarios should they come up.

One of them was we can only finance a 'minimum' amount. I wanted to finance only around 25% of the sale of the car or around $3,000. He said we can only finance a minimum of $6,000 @ around 7% with good credit standing. I told him my Credit Union will do it for a minimum of $3,000. I did not tell him the CU rate of 5.99% (excellent credit) for this amount and it was actually $4,000 @60 month. He told me that maybe they can work something out... while he left I pulled out some ammo... my laptop and started to crunch my amortization finance spreadsheet. When he came back he said my credit came back good and $6,000 @ 4.50%, 60 month is what he could do for me! I showed him on the putter what I could save by going with the Credit Union. He said, I’ll check some other finance rates! He came back with $5,000 @ 4.25%, 60 month... and this was the best he could do. I decided to go with the dealership financing.

$558.87 total interest through the dealership is better than $638.76 through my Credit Union. I’m making double payments for the first year to alleviate beginning higher interest... my money going to the corrupt banking industry bothers me.

[oyceelol]

Originally Posted by STC

These are the certain fees that are unavoidable and you will have to pay:
1. Destination charge
2. Title and Registration
3. Documentation fee, and
4. State Sales Tax

The Destination charge - is actually on the invoice sticker.
The Title and Registration - depends on new or transfer... and the state.
The Documentation fee - is a modest charge for processing documents establishing the registration and title. This fee should be around $50 to $100. Anything over you should question.
State Sales Tax - self-explanatory.

And if you hear from the dealer... a "prepration fee?" Then run! You want to avoid any dealer preparation fee... This is a scam! Avoid paying at all costs.

Also, disability insurance and credit life insurance are big add-on for the dealer. They will ask this! Remember, that is why you have car insurance...

Hope it helps!

Thanks for your help!
So basically I just have to pay for the title and registration, sales tax and document fees aside from the invoice price?

[oyceelol]

Originally Posted by YarisOwnersDad

If you are asking how much money you must pay at the time you make the deal, that depends on whether or not you are going to be making a cash down payment.

Usually, no money changes hands at the dealership when there is no cash down payment. The financing usually includes all the fees, so you just start making your payments and don't pay anything at the time you buy the car.

Tom

P.S.

If all of this buying a new car business is brand new to you, and it sure sounds like it is, then you should get a friend who knows the ropes to go with you. You are "ripe for the picking" and stand a good chance of being taken advantage of at the dealership.

For example, if you let the dealer pick the bank that will finance you car, he will most likely pick the bank that is most favorable to the dealership and not necessarily the lowest interest rate. The finance guy didn't bother to ask where my son wanted to finance his new Yaris and just started the paperwork for Toyota financing. I was present, and I said, "Hold on a minute. What is the interest rate?" I believe it was going to be 8%, and that was way high,so I had the guy go with another bank. The thing is, I knew what to expect for an interest rate, and I was able to see that what Toyota wanted was out of line.

So do I pay the document fees, title and registration, and sales tax together with my monthly payment?

[oyceelol]

Originally Posted by bitz767

are you still an undergrad or a grad student? If you have graduated college within 12 months i think, you can get a 1000 rebate. I used that like a down payment on the car. I also got 0% for 60 months. They said as long as you graduated and have a job they can pretty much give any credit score the 0% so make sure you can get that. I got mine for 15 otd after the rebate, but got a 100k bumper to bumper just in case. Good luck

I am still in undergrad

[bitz767]

Originally Posted by oyceelol

So do I pay the document fees, title and registration, and sales tax together with my monthly payment?

all of that should be included on your otd (out the door) price and that is what is finance and so it will be a part of your monthly payment

[nemelek]

Originally Posted by oyceelol

I am still a poor college student

If you are that poor why not save $1,500 and buy one without the power package. I was able to pay cash for mine and still thought that the power package wasn't worth the money. Look into buying an 08 with 30k for 10,000.

[Hershey]

bitz767 is right . You may be entitled to the $1,000 . Go here , http://northerncalifornia.buyatoyota...riesname=Yaris . You are able to get the $1,000 grad and $500 TOYO rebate along with $500 ( < or > ) dealer discount . The GRAD and FACTORY CASH BACK are re-imbursed to the dealer . So no loss from their pockets . Example : $15,873 - $500 ( Factory Rebate ) = $15,373 - $1,000 ( College Rebate ) = $14,373 - $500 ( Dealer Discount ) = $13,873 for a loaded 3 door . The 0% depends on the credit rating . So make sure to tell them you want lowest rate available from bank or credit union . GOOD LUCK

[STC]

Originally Posted by oyceelol

Thanks for your help!
So basically I just have to pay for the title and registration, sales tax and document fees aside from the invoice price?

Yeppers!

California Sales Tax is high and will run you around $1,200 - $1,300
Also, Calfornia Title and Registration is high compared to PA... should cost you a couple hundred bucks or more?
Good thing by law in California, the Documentation Fee is limited to $45.
In California any manufacturer incentive/rebate is taxible! No dealer incentive, though...

Probably... $1,600 to $1,700 total when all is done?

[oyceelol]

Thanks for everyone's help. So basically I just have to pay the first month financing payment when I sign the contract with the dealers?

[kelevra]

If you're getting the zero percent that is great. Just remember that if you do decide to put money down, the more you put down, the lower your monthly payment is, if that matters to you. If you don't have money to put down (it sounds like you don't?), then just run with it..

[why?]

Originally Posted by oyceelol

Thanks for everyone's help. So basically I just have to pay the first month financing payment when I sign the contract with the dealers?

not necessarily. It depends what you want to do and what they might let you do. You can literally walk out the door without paying a penny if you want, usually. They can roll everything into the monthly payments if you want them to.

However that might not be the case with the 0%. That might have its own rules that you must put money down.

Everything is negotiable to a car dealer, except tax, title, and license, which goes to the state.

Just do everything you possibly can to give yourself as much info as possible, then go shopping. Do not limit yourself to any single dealership, or salesperson if you can. If you want to negotiate, you will find someone who will do it for you.

the more prepared you are, the better you will come out. don't be afraid to ask for the car at reported invoice price. You can't get that price if you don't ask for it. Also, don't believe anything a dealer says, especially if they say a deal is only good for a day.

that is a lie. if they want the sale, they will call you back and make another offer.

never be afraid to walk out the door either. it is your money, and you are in charge. never forget that.