Ok you wise YA Auto people. What would you do?

Question

I was looking at an 07 Toyota Corolla. No bells or whistles. Manual with a/c and cd player. That's it but it's brand spanking new.

Cost with $1000 rebate and store discout of $799 so the total would be $13888

I'm still on the fence about it but was wondering what y'all thought. What positives and negatives?

Thanks :)

It's a CE...base model

Answer 1

Do your self a huge favor and NEVER buy a new car. The minute you drive it off the lot it depreciates 27%. If you don't believe it try and sell it the next day. In year one of ownership you will loose about 3% more. In year 2 10% is gone. So in the first two years you loose most of the depreciation of a vehicle.
Suggestion, Buy a two year old car. Why? Because the car will never depreciate more then 7% in one year while you own it. Next all the bugs are worked out from the previous owner. and finally, insurance is much cheaper on a two year old vehicle. Not to mention it's much cheaper to buy on the fromt end.

Answer 2

New cars are for people that are extremely picky about color, options, etc. There is absolutely nothing wrong with finding a slightly used Corolla at a MUCH lower price. That's what I would do.

Then I would take that quote back to the new car guy and see if he's willing to match it. You never know what kind of factory rebates the dealer is trying to pocket...you may get a new one for the price of the used one.

Answer 3

I think I would look for a car that is used, maybe a couple years old. Yes, new cars are nice, but there is far better value in getting the same car, just a few years older. As soon as you drive the new car off the lot, $$$$, are lost.

Answer 4

Looks like a good price to me.

New cars aren't just for people picky about options. It's for people who don't want to deal with whatever psychotic BS some driver did to a car and is trying to cover up until it sells.

Answer 5

If that's what you want go for it. They are a good car.

Answer 6

i love my corolla