How Much Should I Pay: 2009 Toyota Camry
Question From Gayle: Hi! How much should I pay: 2009 Toyota Camry demo/loaner? I found a 2009 Toyota Camry LE, 4 cyl, 5-speed with 9,968 miles on it. It was a courtesy car for their dealership. They’re asking $18,492; I didn’t see the MSRP online. (link is below)
FYI… I was given a “best price” of $18,700 by a different Toyota dealer for a brand new 2009 Camry (includes my trade-in, excl tax/title). MSRP = $22,569
What would be a fair “best offer” from me to give on either car?
Here’s the link to the Camry w/miles
Thanks for your help!
Gayle
Queen of the Road: Hi Gayle. Welcome to AutoBragBlog!
CAMRY #1: You should not hesitate to ask for wholesale prices. While the idea of buying a rental car can sound somewhat strange, if we actually look at the facts, and weigh the pro’s and con’s of the decision, then we can find that a rental car may not be that bad of a choice, and can actually be a good deal if one approaches the situation with caution and intelligence.
Pros of Buying A Loaner Car: Their engines are maintained better probably than most privately owned cars since constant care and maintenance are undertaken during their use. Another attractive factor for purchasing a rental car is low pricing. (I think $27.9k is on the high side.)
Cons if Buying A Loaner Car: The car may have suffered abuse by the other drivers. Any damage is still reported at that point that it is largely cosmetic and while aesthetics are also important, what is inside really counts.
For a 2009 Toyota Camry 4C Sedan LE with 10,000 miles, wholesale prices range from $16,600 (being in above average condition) to $15,800 (being in average condition) and $15,000 (being in below average condition). A fair range for a dealership sell it for +12%-14% more than wholesale, so their estimated retail prices could range from $16,700 to $18,400. A private seller will usually aim to sell it for 5%-10%.
Consumer Cash Incentives: A Cash Back Rebate of $400 is being offered to the Consumer upon purchase. $400 Military Bonus Cash is available to customers with current active duty status in the U.S. Military (Navy, Army, Air Force, Marines, National Guard, Coast Guard, or active Reserve). Please see your dealer for details. Offer Expires: 3/31/2010
A Cash Back Rebate of $1,000 is being offered to the Consumer upon purchase. $1000 College Grad Bonus Cash is available to customers who graduate from an accredited 4-year college or university, 2-year college, registered nursing degree program, or graduate degree program or will graduate within the next six months. Please see your dealer for details. Offer Expires: 3/31/2010
Here’s a good article to read before continuing: Car Buying Tips From An Insider. Let me know if you have any further car questions.
Good luck and keep us posted on how the purchase goes!
