Just wanted to share my recent purchase. After reading several posts on Internet in the last one month, I started my approach to contact to dealership as if I was buying instead of leasing so I can get the actual selling price instead of monthly payment as I was not sure whether I would take leasing route or pay in full. I think I was able to negotiate a reasonable deal with the dealership. I decided to pay in full instead of leasing, as Toyota didnt have any extra incentive for leasing to offset the acquisition and other fees. All the negotiation was done thru email.
Year, Make, Model, and Trim: 2021 Toyota Camry LE
MSRP: $29,478
Selling Price: $23,478
Trade: $5000
Dealer Fee: $799
FL Tire/Battery: $6.50
Tag Agency Fee: $149
Gov Tag Transfer Fee: $82.35
Incentives: $0
Sales Tax: $1190.95
OTD: $20705.80
Region: FL
FYI: Higher MSRP because of extra factory installed packages:
Blind Spot Monitor
Convenience Package
Special Color
Power Tilt/Sliding Moonroof
LED Interior Light Upgrade
TOYOGUARD Platinum
Please note, Trade was not part of the original price negotiation. It was brought in after we settled on the purchase price. I took the trade-in quote from Carvana, Vroom, KBB Instant, CarMax and few other online providers, and highest offer came from CarMax for $4700, but dealer made the offer for $5000. So it was better to trade with dealer plus sales tax benefit.
Tried CarMax and Carvana for my 2021 - requires me to call them to run the quote. But I used a sample VIN for 2019 Camry LE to run the quote from CarMax, and it came $22,000 for 2 yrs old camry with 5000 miles.
Vroom offer came: $22,357 ( even though my Camry is loaded with the packages ). Seems like Vroom is giving $0 value for loaded packages.
I did run the 2nd quote with Vroom without any package, their quote came back $22,357 - I can buy Camry without packages cheaper with dealer.
May be, Carmax might pay more. If I pay full in cash, then sales tax is not refundable if I sell to CarMax or Vroom. Not sure if I can use our business resale certificate to buy this car and flip it with CarMax so I dont have to pay sales tax to dealership. Not sure if they will flag me as reseller and may not want to sell. If I lease it then $650 acquisition fee - plus cost 1 hard inquiry.
Any tips?
I find it interesting that they gave you $5,000 on trade in, higher than carvana etc. The dealerships won’t even budge above $2k equity on my car and I’m getting quotes for $5k to $7k more from carvana and enterprise.
I was surprised to receive their initial offer for $5k. Prior to contacting dealer, I ran several quotes, and highest offer came $4700 with CarMax when I declared it as Excellent condition, but it was 2006 Accord with 103,000 miles, so if I went to CarMax in person for review, they could drop the rating to Very Good instead of Excellent, and drop the price. / I got the lowest offer from Kia dealer for $2000, and $3700 from KBB Instant, like that.
CarMax would probably pay more once they see it. Enterprise Car Sales is also getting a rep around here for paying a lot. Also try AutoNation. You may also get a better deal private party but that requires holding the title which you probably won’t get for at least a month.
I would ask the dealer if they would give you a discount on a second car and then pull the trigger on both. If you do end up doing this please post your results!
