2005 Corolla - Looking to Buy

#1
Greetings,

I'm looking into buying a 2005 Corolla, 84,250 miles, CE Sedan, 4 door. It has power door locks, power steering, cruise control, cd player. It has a couple very small dents in the driver door. Overall, very good condition. It is a one-owner car, who I know, and he took very good care of it - oil changes done regularly, etc.

What would be a good price for a car like this? I'm in Washington state if that makes a difference. Thank you.
 
#5
05 corolla

I just purchased an 05 corolla ce with the same options 96K miles in good condition from a dealership in WV for $6500 cash.
 
#7
Its best to avoid debt whenever possible. Financing is a big money maker for the dealerships. You're not saving anything by financing through the dealers higher rates.
 
#8
You can negotiate a lower price using financing because long-term, the dealership knows they'll make more money than someone paying cash. So once you have the financing lined up with the lower price, then next month you go to the bank and pay off the loan with cash. This also helps to boost your credit rating. :)
 
#9
To each his own I guess. I'm not convinced that you'll be able to negotiate that much down on a $6500 finance. Besides, after being hit for the up front financing fees its a wash at best. Also, you're not improving your credit score with one month of history. Interesting topic, but in this case observe the KISS principle.
 
#11
Absolutely, the dealership would much rather see someone buy their car and their higher financing fees. Bringing cash will not influence the the dealer to lower the cost of the car vs financing.
 
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