$24500 good price for 2021 corolla hybrid?

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fettarules
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$24500 good price for 2021 corolla hybrid?

Post by fettarules »

So I've been shopping for a small car recently and noticed there're not that many cars in the lot. I need it by September so there's still a bit of time but I'm not sure the inventory/price situation will improve. The dealer offered $24500 OTD on a 2021 corolla hybrid --- is it a good deal? My target price was $23000. I live in FL.
hi_there
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Re: $24500 good price for 2021 corolla hybrid?

Post by hi_there »

How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Topic Author
fettarules
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Re: $24500 good price for 2021 corolla hybrid?

Post by fettarules »

hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
59Gibson
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Re: $24500 good price for 2021 corolla hybrid?

Post by 59Gibson »

What is the actual sales price of the veh. OTD #s are not very helpful due to diff taxes, license, reg fees, dealer fees, add ons..etc
bogledogle
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Re: $24500 good price for 2021 corolla hybrid?

Post by bogledogle »

Have you looked it up on truecar.com? It shows 11% discount when I put in my zip code.
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fettarules
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Re: $24500 good price for 2021 corolla hybrid?

Post by fettarules »

59Gibson wrote: Fri May 14, 2021 2:17 pm What is the actual sales price of the veh. OTD #s are not very helpful due to diff taxes, license, reg fees, dealer fees, add ons..etc
good point. As I recall, it's about $3700 off MSRP (about $25600), so 14% off MSRP.
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fettarules
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Re: $24500 good price for 2021 corolla hybrid?

Post by fettarules »

bogledogle wrote: Fri May 14, 2021 2:18 pm Have you looked it up on truecar.com? It shows 11% discount when I put in my zip code.
I did.....The truecar price seems incredibly high LOL
squirm
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Re: $24500 good price for 2021 corolla hybrid?

Post by squirm »

I can get a new Clarity touring for less than that after incentives.
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eye.surgeon
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Re: $24500 good price for 2021 corolla hybrid?

Post by eye.surgeon »

bogledogle wrote: Fri May 14, 2021 2:18 pm Have you looked it up on truecar.com? It shows 11% discount when I put in my zip code.
Unfortunately Truecar can no longer be trusted to provide accurate price data. It's morphed from a reliable purchase price aggregate database into a sales referral machine.
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fettarules
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Re: $24500 good price for 2021 corolla hybrid?

Post by fettarules »

squirm wrote: Fri May 14, 2021 2:54 pm I can get a new Clarity touring for less than that after incentives.
Sadly where I am there’s no financial incentive to buy an EV.
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eye.surgeon
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Re: $24500 good price for 2021 corolla hybrid?

Post by eye.surgeon »

fettarules wrote: Fri May 14, 2021 3:08 pm
squirm wrote: Fri May 14, 2021 2:54 pm I can get a new Clarity touring for less than that after incentives.
Sadly where I am there’s no financial incentive to buy an EV.
Do you not live in the United States? There is a substantial federal tax credit for most EVs. Tesla exempted.
"I would rather be certain of a good return than hopeful of a great one" | Warren Buffett
hi_there
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Re: $24500 good price for 2021 corolla hybrid?

Post by hi_there »

fettarules wrote: Fri May 14, 2021 2:05 pm
hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
Seems like bad economics if fuel price is the only concern. Average car is driven 15k miles a year. It is better to have the $3k now, plus save on sales tax, than wait for 7 years for the gas savings to accrue. I'm not sure what other features the hybrid has over the normal LE trim that might help make up the price difference.
random_walker_77
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Re: $24500 good price for 2021 corolla hybrid?

Post by random_walker_77 »

For $500 more, you're at MSRP for a 2021 Camry. With covid, I'm not sure if they're selling for more than MSRP, but $24500 looks like it's over MSRP for that corolla hybrid?

At that price, I'd be tempted to just get the larger/safer Camry (or get the camry hybrid)
Oddibe McDowell
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Re: $24500 good price for 2021 corolla hybrid?

Post by Oddibe McDowell »

Not sure on price but you will enjoy that car and it will last forever.

I have had great experiences driving Prius.

Try searching by price on AutoTrader.

Good luck!
02nz
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Re: $24500 good price for 2021 corolla hybrid?

Post by 02nz »

eye.surgeon wrote: Fri May 14, 2021 3:12 pm
fettarules wrote: Fri May 14, 2021 3:08 pm
squirm wrote: Fri May 14, 2021 2:54 pm I can get a new Clarity touring for less than that after incentives.
Sadly where I am there’s no financial incentive to buy an EV.
Do you not live in the United States? There is a substantial federal tax credit for most EVs. Tesla exempted.
Teslas and GM vehicles have been phased out of the $7500 credit. After incentives (some states, localities, and utilities have additional incentives) EVs and plug-in hybrids can be cheaper than equivalent ICE or conventional (non-plug-in) hybrid cars. Even with just the federal incentive of about $4500, a Prius Prime is likely to come out around the same price as the Corolla Hybrid.
Superleaf444
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Re: $24500 good price for 2021 corolla hybrid?

Post by Superleaf444 »

fettarules wrote: Fri May 14, 2021 2:05 pm
hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
It is worth noting the higher end of hybrid mpg comes from city/hilly driving where you are using your brakes often to charge your battery. The mileage isn't close to being that good on the highway.
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fettarules
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Re: $24500 good price for 2021 corolla hybrid?

Post by fettarules »

Oddibe McDowell wrote: Fri May 14, 2021 3:39 pm Not sure on price but you will enjoy that car and it will last forever.

I have had great experiences driving Prius.

Try searching by price on AutoTrader.

Good luck!
Thank you!
123
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Re: $24500 good price for 2021 corolla hybrid?

Post by 123 »

If you can wait maybe you should delay purchase until 2022 models are out. IIRC Toyota has started releasing new car models the previous summer, don't know how the pandemic will impact that. May not be much of any difference but a 2022 will be one model year newer.
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Watty
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Re: $24500 good price for 2021 corolla hybrid?

Post by Watty »

For $10 you can join Consumer Reports for a month and they give pricing information. I just bought a new car and it was worth the money.

I also did some pricing on KBB but I do not know how reliable it is.

https://www.kbb.com/toyota/corolla-hybrid/

My gut reaction is that buy a Corolla Hybrid is sort of an odd choice when you could buy a Prius instead and it had a lot larger production numbers so it will likely be more popular and hold its value better.
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Re: $24500 good price for 2021 corolla hybrid?

Post by helloeveryone »

hi_there wrote: Fri May 14, 2021 3:19 pm
fettarules wrote: Fri May 14, 2021 2:05 pm
hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
Seems like bad economics if fuel price is the only concern. Average car is driven 15k miles a year. It is better to have the $3k now, plus save on sales tax, than wait for 7 years for the gas savings to accrue. I'm not sure what other features the hybrid has over the normal LE trim that might help make up the price difference.

Nice post. I have not thought of it like that. Take that 3k put it in index fund or bond fund you likely come out on top
random_walker_77
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Re: $24500 good price for 2021 corolla hybrid?

Post by random_walker_77 »

Superleaf444 wrote: Fri May 14, 2021 3:48 pm
fettarules wrote: Fri May 14, 2021 2:05 pm
hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
It is worth noting the higher end of hybrid mpg comes from city/hilly driving where you are using your brakes often to charge your battery. The mileage isn't close to being that good on the highway.
That used to be true. I'm not sure about the corolla, but the 2019 Camry Hybrid LE was rated 51 MPG on the highway, 49 city. In 2019, the Camry LE hybrid had 5 MPG over the higher end trims, b/c it was the only trim using Lithium batteries. In my real-world driving in a warm climate, I'm seeing 50 MPG. Not sure if anything has changed in the last two years...
CurlyDave
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Re: $24500 good price for 2021 corolla hybrid?

Post by CurlyDave »

helloeveryone wrote: Fri May 14, 2021 5:12 pm
hi_there wrote: Fri May 14, 2021 3:19 pm
fettarules wrote: Fri May 14, 2021 2:05 pm
hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
Seems like bad economics if fuel price is the only concern. Average car is driven 15k miles a year. It is better to have the $3k now, plus save on sales tax, than wait for 7 years for the gas savings to accrue. I'm not sure what other features the hybrid has over the normal LE trim that might help make up the price difference.

Nice post. I have not thought of it like that. Take that 3k put it in index fund or bond fund you likely come out on top
If gas prices stay constant, the $3k is better now. OTOH, I have a feeling that gas prices are going to go much higher for reasons we may not discuss here.
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amd2135
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Re: $24500 good price for 2021 corolla hybrid?

Post by amd2135 »

Car prices are sky high right now. CarMax is offering to buy our 2 year old Mazda3 for its original sale price minus tax and title. Their purchase offer for our older car has gone from 8.7k to 10.7k over the span of 3 months.
Watty wrote: Fri May 14, 2021 5:06 pm For $10 you can join Consumer Reports for a month and they give pricing information. I just bought a new car and it was worth the money.
Check your local library- mine provides access to the Consumer Reports website for free. I can also search through archived print editions via EBSCOhost.
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Watty
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Re: $24500 good price for 2021 corolla hybrid?

Post by Watty »

amd2135 wrote: Sat May 15, 2021 8:21 am Car prices are sky high right now.
New car prices vary a lot by model and location. Some new cars still have a good supply so the prices are not too bad. I was able to get a new Forester for just about the invoice price(not MSRP) including junk fees but not taxes and license. I consider that to be OK but not fantastic price.
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Re: $24500 good price for 2021 corolla hybrid?

Post by Valuethinker »

fettarules wrote: Fri May 14, 2021 2:05 pm
hi_there wrote: Fri May 14, 2021 1:55 pm How's the price relative to normal Corolla? Is the hybrid scarce and bid up, or does no one want it and it's discounted?

$24.5k sounds like a lot relative to the experience you'll get from driving a Corolla, which is efficient even without hybridization. Maybe I am living in 2019...
Price difference is about $3000 when compared to a regular Corolla LE, which I think is fair. Fuel efficiency difference is 18 mpg (34 regular vs 52 hybrid), which means that after 100k miles the hybrid would have used 1000 fewer gallons of gas, which translates to about $3000.

This is probably not a good time to buy a car but I know I'll need one in a few months time, so debating whether I should wait or just take the bait...
It's a race between supply chain catching up (semiconductor chips in particular) v revived consumer demand. I only know what I have read in the mainstream press.

[Coronavirus comments removed by admin LadyGeek]

That means a lot of people who have been sitting at home are going to try to buy new things. Cue big demand rise. Supply chains (most notably, but not only) of building materials are super stressed, already. The world is running short of everything.

Shrug. If you can't defer buying a car for the next 12 months (by which time capacity *should* be back to normal) then now is probably as good/bad a time as anytime, and is probably better than the new car buying season that begins in September.

My own thought is a hybrid car is more likely to retain its resale value than a gasoline-only vehicle. Depending on how long you intend to keep it.

With major purchasing decisions, it is difficult to get them exactly right. What you want to do is:

- avoid an emergency or rushed purchase. My father kept his cars 10-12 years, and that led to a crisis at replacement time (usually when the old car needed massive repairs)

- avoid "must have" situations because you absolutely have to have this edition, this model, this house etc.

So .. if you like the car, and can manage the price, it's probably time to go for it, and you will be several thousand dollars offside of your "best" price if you timed it perfectly.

But conversely there are not a lot of new cars out there, used cars are selling like hotcakes. There are probably price rises coming in the supply chain for carmakers. You could find, in September, that you need a car, and you have to buy a model you are less satisfied with/ is much more expensive.

[OT comments removed by admin LadyGeek]
sambb
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Re: $24500 good price for 2021 corolla hybrid?

Post by sambb »

consider - can get a regular corolla and invest the $$ difference of the lower cost.
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Re: $24500 good price for 2021 corolla hybrid?

Post by angelescrest »

amd2135 wrote: Sat May 15, 2021 8:21 am Car prices are sky high right now.
Exactly, it’s so hard to say what is a good price right now due to the low supply.

If you really need it, and feel the price is reasonable for you, go for it.
tdmp
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Re: $24500 good price for 2021 corolla hybrid?

Post by tdmp »

At this price point: should consider Prius Prime: similar vehicle in terms of performance (ie. slow 0-60 time). At times there are "sales" ie. dealer/manufacturer rebates, especially in the Northeast area: then if you add federal + state tax rebates: it can be pretty cheap. Plus side of Prius Prime: if able to charge at home: can have about 25 miles of all electric range. This decreases use of engine component so probably a little less wear and tear through time. Convenience of charging at home: this is hard to quantify, but makes me pretty happy knowing the fact I don't have to go to gas station as much. Also form factor: Prius Prime is a hatchback and so probably can fit bulkier things in the trunk (Prius Prime cargo space: 19.8 cu. ft vs. Corolla Hybrid: 13.1 cu. ft) . Big negative of prius prime: NO spare tire. Disclaimer: I own a Prius Prime: I charge every day at home and will get gasoline once every 2-4 months (when I travel out of town and sometimes 1 gas tank lets me go out of town twice, depending on how far I go).
blueberrypi
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Re: $24500 good price for 2021 corolla hybrid?

Post by blueberrypi »

I think that's a reasonable price for a new, modern car. Car and Driver reported 56 mpg on their highway driving test which is pretty incredible IMO. I want one. If I lived somewhere I could charge an EV at home I would strongly consider a plug-in hybrid though.
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Re: $24500 good price for 2021 corolla hybrid?

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