I thought I had negotiated a pretty good price over the phone for my new '06 Corolla CE automatic with all-weather package and Convenience package (cruise with power doors), but now I'm not so sure.
The MSRP for that car is $16,100. Edmunds says the "True Market Value" of the car in zip code 65201 is $15,600. I'm getting it for $15,500 (plus only another $50 as a documentation fee--how's that for a low doc fee).
I thought I had done a great job in the negotiation. But then yesterday I read the March issue of Money Magazine, in which they list "Target Prices" for cars configured with common options, and the Target Price for last year's *'05* Corolla is $14,500--a thousand dollars less than what I negotiated for.
Of course that's Money Magazine's Target Price for last year's Corolla (2005), since the magazine's issue was published in March of '05.
So maybe I'm comparing apples to oranges, a 2005 to a 2006 Corolla CE. But I'm still left with a slight amount of gnawing doubt.
Darn, the magazine's target price for last year's '05 **LE** is $15,100--$400 less than what I'm paying for the lower end *CE*. But Edmund's shows this year's base model LE at $15,800--$300 more than my somewhat loaded CE.
I hope $15,500 is fair for the CE?
Thank you for any advice.