I am financing a 2006 corolla, its too small for me so ive been trying to find a way to get a new car and today i got a letter in the mail from Toyota. It says that Toyota would like to exchange my corolla for any new 2007 Toyota car, truck, van or sport utility vehicle. I says they feel confident that i can make this exchange with little or no out of pocket expense with a monthly payment that fits my budget. They are looking to acquire 2006 corollas used in order to fill specific needs in their inventory.
Is this really possible? Id love to get the new Rav4 but i cant afford it if its alot more than what im paying now. Has anyone else ever gotten a letter like this and did they actually help u? Thanks!
2007-01-06 10:10:33 · 13 answers · asked by renneyday 1 in Cars & Transportation ➔ Car Makes ➔ Toyota
I think you should wait a little before you trade your car, I know cause I have a 2006 Toyota Camry and they want me to trade it in, I paid in a lump sum 22 big ones for it and they only offer me 14 in trade for a 2007, so there's no deal, they are very wise people.♦
2007-01-06 10:26:23 · answer #1 · answered by Glenn N 3 · 0⤊ 0⤋
Just about any car dealership would like to have an 06 Corolla. They are the best selling cars in the world. If it's too small, check out the matrix or a Camry. They have more head room. Of course they toyota dealership will trade with you. They want to trade with you for an 07. And of course you'll have to pay the difference in price. You may not have any out-of-pocket expense, but if you trade up, your payments will be probably be higher. If your Corolla is half paid for, then you can probably get an upgrade for the same payments but longer duration.
2007-01-07 10:54:06 · answer #2 · answered by Rod 2 · 0⤊ 0⤋
I really love those ads and they are so effective. Basically you received in your hand an advertising gimmick nothing more. Sure you can probably trade in and get another vehicle. But don't expect it to be for the same price you are paying now and don't expect to be in the same payment. The only way possible is if they put you in a lease. Ouch you really don't want a lease. But again it is an advertising gimmick with tricky wording to get you in the showroom and sell you something. Just keep in mind you are upside if you trade in. So that money has to go somewhere. They will also try thier best to bait and switch you into a lease. Dealers love leases. They make tons of money while you get nothing.
So take it for what it is ad gimmick that worked because it caught your attention. My best advice is to just go to a reputable toyota dealer and see what can be done. But make sure you get all the facts and all the numbers straight. Be prepared to walk away from it too. Works for me all the time and I get a much better rate when I finance. I have walked out numerous times on deals because i did not like the deal.
2007-01-06 10:19:13 · answer #3 · answered by logan 5 · 0⤊ 0⤋
I have received those letters,and my mother as well.There does seem to be something about the corolla and testing.The only thing you can do is go in and try to deal with the dealer.Remind them of the letter,that this wasn't your idea.It was a nudge from Toyota.Do your homework,go to kbb.com to get the trade in value.Use that only after the negotiations have begun and you can get them to offer what is right for your old vehicle.Remember you are gonna pay about Twenty dollars for every thousand financed,on a five year note only.Compare what your payments will be to the sticker of the vehicle.the closer or under it you are the better deal you are getting.for instance 20k sticker is 400$ payment at 5 yrs.if your payment is 390 you are giving 19k,and getting a good deal.
2007-01-09 12:34:41 · answer #4 · answered by JB 3 · 0⤊ 0⤋
I used to work in the finance department of a dealership. They do send those letters out because they actually do need the cars BUT they are more concerned with making money off of a new sale. The salesman get a commision and so do the finance folks! If you really want a different car then by all means trade it in, but tell them you want your payment to only be somewhere around 20 dollars more a month and if they dont take it....walk. They will follow you and make it work. Salesman are slimey creatures, they will tell you what you want to hear. They will even put out pictures of kids that arent even theirs to "humanize" themselves. Trust me, my daughters father is a salesman.
2007-01-06 10:21:47 · answer #5 · answered by Amanda R 2 · 1⤊ 0⤋
Dude it is a bad plan you owe more on the Corolla then they will give you. They wanted me to go from 3 years of payments on my car to 6 years to get a tundra.
2007-01-06 10:15:10 · answer #6 · answered by shadouse 6 · 0⤊ 0⤋
If you could not afford a RAV4 upfront, why do you think it will be any easier now? You will loose another $2500+ just in your trade in for the newer vehicle (dealership profit).
This a mass mailing to make you think to buy another car from them.....
2007-01-07 02:19:00 · answer #7 · answered by M B 3 · 0⤊ 0⤋
They send these letters to a LOT of people, friend. There is no special need for your car. They just want to rip you off by getting it from you for wholesale or lower if you agree, and then they will turn around and sell it at a premium price as a "certified" used car.
Don't fall for this crap.
2007-01-07 08:55:37 · answer #8 · answered by Trump 2020 7 · 0⤊ 0⤋
A cheaper option would be to just buy second hand up to 5 years old to make a big saving on cost and avoid new car depreciation.
2007-01-06 22:11:41 · answer #9 · answered by Anonymous · 0⤊ 0⤋
They are trying to drum up sales. It's possible that you have good credit and/or they'll finance for a longer period of time, etc., Or, whats $50 more a month? They want you to come talk to a salesman.
2007-01-06 18:44:34 · answer #10 · answered by charlie at the lake 6 · 0⤊ 0⤋