Toyota has made some improvements to the new Corolla Touring , introducing a special edition “ACTIVE SPORT “ model that will go on sale from April 2, 2024. This article provides a detailed summary of discounts on the base price and points to consider when purchasing . We hope this information will be helpful when making your purchase.
Target discount amount for the 2024 Corolla Touring
The target discount amount is approximately 300,000 yen in total
The vehicle price is 200,000 yen, with an option discount of 100,000 yen.
How much of a discount is the Corolla Touring being offered?
We looked up the current discount market price as of April 2024. We found that the discounts available are greater than we expected.
| grade | Purchase date | Vehicle discount |
Option discounts |
Total discount amount |
|---|---|---|---|---|
| HYBRID WxB | January 2023 | 150,000 yen | 50,000 yen | 200,000 yen |
| HYBRID WxB | April 2023 | 200,000 yen | 50,000 yen | 250,000 yen |
| HYBRID WxB | April 2023 | 300,000 yen | 50,000 yen | 350,000 yen |
| HYBRID G | October 2023 | 200,000 yen | 150,000 yen | 350,000 yen |
The highest discount I got was 350,000 yen. This is just an average target, but I would like to aim for a total discount of 300,000 yen, with 200,000 yen on the vehicle price and 100,000 yen on options.
Corolla Touring discounts and tips for a successful, low-cost purchase
- Consider purchasing at the end of the fiscal year, or hold negotiations around the end of each month.
- Consider rival models, compare over three models, and even discuss them during negotiations.
- If you have a trade-in car, have it appraised by the dealer first, then have it appraised by at least three 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 purchase through installment or leasing, you may be able to save money on the total price by considering options other than through a dealer.
- At the final stage, make an immediate decision at the desired price.
- Get a quote from a different Toyota dealership.
1. Consider purchasing and negotiate during the closing period
Toyota’s financial statements are monthly, with interim and year-end closings at the end of September, and year-end closings at the end of March. The best times to look are June, September, December, and March, which are the quarterly closing periods. Salespeople are also keen to increase sales at these closing times, so they may be willing to negotiate prices. They’ll likely work especially hard at the end of March, when the fiscal year ends!
2. Consider rival models and compare them with three or so models.
Bringing in a competitor will be a bargaining chip in business negotiations. As a salesperson myself, I understand that bringing in a competitor will force you into a price war. It will also convey to the other party your intention to purchase in the near future, which will give you leverage to lower the price.
Corolla Touring competitors
Competing models within Toyota are not acceptable. For example, if you are deciding between the Corolla Touring and the Corolla Sport, be sure to get quotes and consider products in the same class from other manufacturers.
Corolla Touring and recommended competitors
The following models are just right for the competition in terms of body size and lineup. 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 find that the other company’s products are discounted or better, so you decide not to buy them. It is also important to know about other companies.
- Toyota’s new Corolla Touring: A thorough comparison with other companies
- Officially announced: New Levorg D-type comes standard with the next-generation EyeSight system, EyeSight X, featuring a wide-angle monocular camera.
- Price and specifications revealed: New Levorg Layback to be released in November 2023
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 get a quote for your Corolla Touring , be sure to also ask for a trade-in appraisal. Using the appraisal amount from 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 dealerships, but of course, it’s necessary to compare with other companies. For example, when I sold a Prius that I had been driving for two and a half years, the appraisal results showed a difference of 640,000 yen.
- Dealer 1.66 million yen 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 add the main unit and options than if you only add the main unit and almost no options. The reason is that you can receive a discount on both the main unit and the options. That’s why the above prices list the discount amounts for both the “main unit price” and the “option price.” However, as you add more options, the total cost will naturally increase, so be sure to select and add the equipment you want before getting a discount. Adding everything will naturally increase the price.
5. If you purchase through installment or leasing, you may be able to save money by considering options other than through a dealer.
For example, let’s say the “HYBRID W x B” costs 3 million yen including all expenses.
- Borrowing amount: 3 million yen
- No down payment
- Bonus payment 0
If you calculate the difference in interest rates under the above conditions, you’ll see a huge difference in the total repayment amount. If you borrow 3 million yen for 10 years at 5.5%, you’ll end up paying an extra 900,000 yen, but if you borrow 3 million yen for 10 years at 2.5%, you’ll only pay an extra 400,000 yen, a difference of 500,000 yen. Therefore, one option is to look for an auto loan from a bank or other lender that will allow you to take out 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% | Fluctuation |
| Sompo Japan | 1.400% to 3.950% | fixed |
| Yokohama Bank | 0.900% to 2.400% | Fluctuation |
| Chiba Bank | 0.850% to 2.400% | Fluctuation |
| Joyo Bank | 0.850% to 2.750% | Fluctuation |
Points to note
Bank car loans are cheap, with strictest screening, followed by dealer-affiliated loans, but with higher interest rates. Other financial institutions tend to offer more lenient screening, with higher interest rates.
6. At the final stage, make an immediate decision at the desired price.
If they don’t offer the discount you want, try to force them by honestly telling them what you want. Add that you’ll sign the contract today if you agree, and if they still can’t offer the discount you want, you’ll just have to accept that this is 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 from a Chiba Toyota store, the price will probably change. This happens because the companies are completely different. If you get a quote from the same Chiba Toyopet store, you’ll immediately find out that other stores are quoting the same price because they share information. So, try again at another Toyota dealership with which you have no capital ties.
example
- Chiba Toyopet
- Chiba Toyota
- Toyota Corolla Chiba (now part of the Chiba Toyopet group)
- Netz Toyota Chiba
Those who want the desired amount by all means
If you find it difficult to bargain, you might want to look for a used car, which is more affordable than a new car.
Final words
If you want to sign a contract this year, try to negotiate around the “interim financial statements” at the end of September or the quarterly financial statements. The Corolla Touring underwent some price revisions in 2024 due to some improvements, but this year is a good time to buy, mainly because some equipment has become standard. Try to get the maximum discount possible and hope you can purchase it at a price you are happy with.
Corolla related articles
Recommended articles about the Corolla Touring.
