Looking for some opinion on a new Toyota Corolla Hybrid 2020 prices

mario-rock wrote: ↑ There’s no such thing as pushing for 0% financing. Toyota Canada sets the financing rates. No dealer will want to buy down the rate from 4.99% or 2.49% to 0%, that would cost thousands.

TheWelf wrote: ↑ Work on the price. There are deals to be had. I haggled dealer cost + 1.9% before taxes for a 2021 order (includes premium package and all fees). Even low supply high demand cars have huge negotiation room.

Xtrema wrote: ↑ When stock is low, there is 0 incentives to be had. The rate is set by Toyota and not the dealer, there is nothing a dealer can do.

Assuming you are in Ontario:
A $25K SE @ 0% = $510/mth for 60 months tax in

A $25K Hybrid @ 2.5% = 533/mth for 60 months tax in.


So in the end, it's only $23/mth @ $1/L = 23L of fuel. Difference between Hybrid vs non-hybrid is about 2L/100km. So if you drive more than 1200km/mth, especially in the city stop and go, that's your break even point. Otherwise, there is no point buying hybrid.

If anything dealers are probably overstocked with non-hybrid models that make them easier to be negotiated down from MSRP anyway.

DoorCrasher wrote: ↑ Do not expect deals on financing rate because of COVID. Dealers having a hard time making sales, but hybrid/electric vehicles are in demande, and most of the manufacturers stopped production because of the COVID. Best thing to do, if you want to buy, and you are disciplined, buy at dealer's rate, and put it on HELOP if you already have one opened.

Sejad wrote: ↑ First of, I’d love to know where and how you’re getting a Base Corolla Hybrid 2020 @ 25K with taxes included. That’s nuts!

Also, since hybrids have regenerative breaking, MPG is better within the city I thought?



What is HELOP?

DoorCrasher wrote: ↑ Typo. Meant HELOC Home Equity Line Of Credit

Many Banks offer this product like https://www.cibc.com/en/personal-bankin ... LwQAvD_BwE

Sejad wrote: ↑ Can you explain HELOC ? I’m just learning about it.

Like, what benefit would it be putting your car on this HELOC? I don’t own a home either.

Sejad wrote: ↑ First of, I’d love to know where and how you’re getting a Base Corolla Hybrid 2020 @ 25K with taxes included. That’s nuts!

Sejad wrote: ↑ Can you explain HELOC ? I’m just learning about it.

Like, what benefit would it be putting your car on this HELOC? I don’t own a home either.

Xtrema wrote: ↑ No no no. I'm just pricing the model, not the full price. $510*60 = $30600. SE is when you start to have the better 2.0L engine and the starting price is within in $500 of base Hybrid model. That's why I use it as comparison.

Just an exercise why hybrid isn't worth it based on Toyota finance rates differential.

TLDR. If you are not driving for a living, Hybrid doesn't save you enough when non-hybrid has lower rate and more negotiation room/easier to lowball.




HELOC = home equity line of credit. If you don't own a home, you don't have and home equity to borrow from.

Don't worry about HELOC or LOC. They start at 3% and could be up to 5%. You only would use them if the manufacturer cash deal is sweeter than finance deal.... which is rare these days.

Sejad wrote: ↑
I’m seeing the SE model go for more then the Hybrid atm? Are you basing this off of using the website Unhaggle? I’m still unsure how that website works.

Sejad wrote: ↑ Also, since hybrids have regenerative breaking, MPG is better within the city I thought

Soichiro wrote: ↑ Yes, it is better.

Fuel economy (litres/100 km):
1.8-litre: 7.9 city, 6.1 highway, 7.1 combined; 2.0-litre: 7.6 city, 5.8 highway, 6.7 combined;
1.8-litre hybrid: 4.4 city, 4.5 highway, 4.5 combined

from https://www.theglobeandmail.com/drive/r ... tains-its/