I want to buy a 2007 Toyota Prius. The Edmunds and Kelly book say the base price is $20,419 including destination charge for the basic model. One dealer said the base price is $21,595 for the basic model. All the other dealers have given me an even higher invoice price. These are all invoice prices, not msrp.. What is the correct price for the basic 2007 Toyota Prius?
MSRP is what the manufacturer lists. Go to www.Toyota.com to find the correct MSRP with all the options you want and that is your negotiating price point. The invoice price is what the dealer buys it for from Toyota, so it will be lower than the MSRP. They can mark it up to any price they want. THe MSRP from the manufacturer is what you should think of as the price you want to use for negotiating.
The prices at dealerships can vary based on where you live and the specific vehicle and its demand in the market.
The best thing to do is to find a dealer with a lot of Priuses in stock. That particular vehicle is in high demand, so the more stock they have the more likely the dealer will be to negotiate. Find a dealer with a lot of inventory and go at the end of the month because that is when they need to move those vehicles.
Also, www.NADA.com will give you a better and more accurate price, closer to the actual vehicle value. Edmunds and KBB aren't always right on the pricing.
Hope that helps and good luck!