Used Toyotas Selling at 5% Below Market Value
According to Edmunds.com, prices for used Toyota vehicles affected by the recall are 4.5% below market value.
In essense, you're getting a 5% discount on used models such as the Toyota Camry and Toyota Corolla.
Rental car companies have been returning these vehicles in droves, pushing the supply higher. This, coupled with the negative perception many car buyers have towards Toyota, has driven the prices lower, while at the same time other used cars have gone up in price.
If you're considering buying a used Toyota, now is a great time to take advantage of the situation. These opportunities don't show up every day.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid