We have put together a detailed summary of the points to consider when purchasing a new GR Corolla, such as discounts on the base price and other points to consider when purchasing. We hope this information will be useful when purchasing a new car. Some people may be worried that it will be difficult to get a discount on the new model. We will provide a thorough explanation of the latest information.
Target discount amount for 2024 “GR Corolla”
The total target discount amount is about 0 yen
The vehicle price is 0 yen, and the option discount is 0 yen.
How much has the GR Corolla been discounted?
I looked up the current discount rates as of July 2024. I found that the discounts available were less than I had imagined.
| grade | Purchase date | Vehicle discount |
Option discount |
Total discount amount |
|---|---|---|---|---|
| RZ | July 2023 | 0 million yen | 0 million yen | 0 million yen |
| RZ | November 2023 | 0 million yen | 0 million yen | 0 million yen |
| RZ | January 2024 | 0 million yen | 0 million yen | 0 million yen |
| RZ | March 2024 | 0 million yen | 0 million yen | 0 million yen |
I have also made an estimate, but was told that I could only discount 0%. On the contrary, they are thorough, which is amazing! It’s a car that can be sold without discounting, so I guess it can’t be helped. Next time, I will set the target price as shown below, since it will be after some improvements. If you are considering purchasing and have come to see it, please rest assured.
Discounts on the GR Corolla and tips for successfully purchasing it cheaply
- Consider purchasing at the end of the fiscal year, or hold business negotiations around the end of each month.
- Consider rival models, compare and contrast three or so models, and even discuss them during sales negotiations.
- If you have a trade-in car, get it appraised by the dealer first, then get trade-in appraisals from three or more other companies, and sell it to the one that offers you the highest price.
- Check whether discounts are available for both the main unit and the options.
- If you buy on installment or lease, you may be able to save money on the total price if you consider options other than through a dealer.
- At the final stage, make an immediate decision at the desired price.
- Get quotes from different Toyota dealerships.
1. Consider purchasing and negotiate during the accounting period
Toyota’s financial statements are monthly “monthly settlement”, interim “interim” settlement at the end of September in the first half of the fiscal year, and end of March at the end of the fiscal year. The best times to look are June, September, December, and March, which are the quarterly settlements. At this time of year, salesmen are also eager to increase sales, so they may be willing to negotiate prices. They will work especially hard at the end of March at the end of the fiscal year!
2. Consider rival models and compare about three models
Introducing a competitor into the mix will be a bargaining chip in your sales negotiations. As a sales person myself, I understand that if a competitor enters the mix, you will be forced into a price war. Also, it will convey to the other party that you intend to purchase in the near future, which will give you a reason to lower the price.
GR Corolla competitors
Competing models within Toyota are not acceptable. For example, you may be torn between the GR Yaris and the GR Corolla. Be sure to get quotes for products of the same class from other manufacturers and make sure you are considering them.
GR Corolla and other recommended models from competitors
The following models have the perfect body size and lineup to compete with other models. It may take time, but please try to get quotes from other companies at the dealership. However, what often happens is that when you get quotes from other companies, you may find that the other company’s products are discounted or the products are better, so you end up deciding not to buy them. It is also important to know other companies.
- Subaru WRX S4
- Honda Civic Type R
3. Trade-in vehicle appraisal
If you currently have a car, think about how to sell it for as much as possible when you sell it. When you ask for a quote for the GR Corolla, be sure to also ask for a trade-in appraisal. Using the appraisal amount given by the dealer as a base, get quotes from at least four other companies and consider selling it. This is essential.
Reasons and experiences
I have had both good and bad appraisals from dealers, but of course, it is necessary to compare with other companies. For example, in one case where I sold a Prius that I had been driving for two and a half years, the difference was 640,000 yen.
- Dealer: 1.66 million yen Condition: If you can pick it up next week
- Company A 2.23 million yen Condition: If you can pick it up next week
- Company B 2.3 million yen Condition: If you can pick it up next week
- Company C 2.3 million yen OK until the next car is delivered
4. Check whether discounts are available for the main unit and options
For example, the discount amount is often larger if you purchase the main unit and options than if you purchase only the main unit and have almost no options. The reason is that you can receive a discount on both the main unit and the options. That’s why the discount amounts for the “main unit price” and the “option price” are listed above. However, the total cost will naturally increase if you add more options, so be sure to select and add the equipment you want before getting a discount. It will naturally be more expensive if you add everything.
5. If you buy on installment or lease, you may be able to save money on the total price by considering options other than through the dealer.
For example, let’s say the “RZ” costs 5.7 million yen including expenses. You prepare a down payment of 2.7 million yen and borrow 3 million yen.
- Borrowing amount: 3 million yen
- No down payment
- Bonus payment 0
If you calculate the difference in interest rates under the above conditions, you will see a huge difference in the total repayment amount. If you borrow 3 million yen for 10 years at 5.5%, you will end up paying an extra 900,000 yen, but if you borrow 3 million yen for 10 years at 2.5%, you will only pay an extra 400,000 yen, a difference of 500,000 yen. Therefore, it is a good idea to look for an auto loan from a bank or other institution that offers a loan with the lowest possible interest rate.
If the interest rate (annual) is 5.5%
| Loan period | Monthly repayment amount | Total repayment amount |
|---|---|---|
| 3 years | 90,587 yen | 3,261,131 yen |
| 5 years | 57,303 yen | 3,438,168 yen |
| 7 years | 43,110 yen | 3,621,187 yen |
| 10 years | 32,557 yen | 3,906,877 yen |
If the interest rate (annual) is 2.5%
| Loan period | Monthly repayment amount | Total repayment amount |
|---|---|---|
| 3 years | 86,584 yen | 3,117,008 yen |
| 5 years | 53,242 yen | 3,194,492 yen |
| 7 years | 38,967 yen | 3,273,218 yen |
| 10 years | 28,280 yen | 3,393,641 yen |
Car Loan Popularity Ranking
| Loan companies | Interest rate (annual rate) | Interest Rate Structure |
|---|---|---|
| Mitsubishi UFJ Bank | 1.500% to 2.450% | Variation |
| Sompo Japan | 1.400% to 3.950% | Fixation |
| Bank of Yokohama | 0.900% to 2.400% | Variation |
| Chiba Bank | 0.850% to 2.400% | Variation |
| Joyo Bank | 0.850% to 2.750% | Variation |
Important points to note
Cheap car loans from banks have the strictest screening, followed by dealership affiliated loans, but the interest rates are higher. The more lenient the screening from other financial institutions, the higher the interest rates tend to be.
6. At the final stage, make an immediate decision at the price you want.
If they don’t offer the discount you want, try telling them your desired price. If they say you’ll sign the contract today if you want that amount, and if they still can’t offer you the discount you want, you’ll just have to accept that it’s the best they can do.
7. Get quotes from different Toyota dealerships
The store I’m familiar with is Toyopet, but there are many other companies. For example, if you get a quote again at the Chiba Toyota store, the price will probably change. This happens because the companies are completely different. If you get a quote at the same Chiba Toyopet store, you’ll immediately find out that the other store is offering the same price through information sharing. So try again at another Toyota dealer with whom you have no capital relationship.
example
- Chiba Toyopet
- Chiba Toyota
- Toyota Corolla Chiba (now part of the Chiba Toyopet Group)
- Netz Toyota Chiba
Those who insist on asking for the desired price
If you find it difficult to bargain, you might want to look for a used car, which are more affordable than a new car.
Final words
If you are finding it difficult to bargain, I would say to look for a new used car , but the GR Corolla is a premium car and there are no new used cars available. Furthermore, used cars are traded at prices that are significantly higher than the new car price. The GR Corolla is currently cheap even without a bargain if you can get it into the purchase quota, so as of 2024, I recommend not placing too much importance on bargains when purchasing.
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