Did I Pay Too Much for My New Car?

I paid $28k for a 2023 SE a few months ago, so I don’t think you did.

My car was $24k out the door, and I got a 2024 SE!

Lei said:
My car was $24k out the door, and I got a 2024 SE!

Where did you buy it?

The price you paid is reasonable. Remember, out the door includes taxes and fees, which can add over $3k depending on the state.

A car isn’t an investment, lol.

Patrice said:
A car isn’t an investment, lol.

A car isn’t really an investment, but higher-end models can hold value better.

eucabeth said:

Patrice said:
A car isn’t an investment, lol.

A car isn’t really an investment, but higher-end models can hold value better.

I disagree. Some cars, like certain Toyotas, have held their value well even after many miles.

eucabeth said:

Patrice said:
A car isn’t an investment, lol.

A car isn’t really an investment, but higher-end models can hold value better.

Maybe not a Ferrari, but a Toyota can last over 5 years, lol.

I paid the same amount for the hybrid version, so yes, you did overpay.

That’s a good deal, you didn’t get ripped off. But you mentioned putting $9k down. Did you get a loan? If so, you might end up paying more with interest.

Keelan said:
That’s a good deal, you didn’t get ripped off. But you mentioned putting $9k down. Did you get a loan? If so, you might end up paying more with interest.

I assume after the $9k down, the loan is only $17k?

@Grayden
There’s some confusion here. It sounds like you have a loan for $17k, making the total $26k out the door. Make sure to check the loan terms to understand the total cost.

You got a good deal compared to others who are paying $35k+ out the door. Ideally, it should be closer to $20k, but given the market, you did well. Keep up with maintenance, and your car will last a long time.

@laura
I change my oil every 5,000 miles. I did an oil change at 1,000 miles on my 2024 Corolla LE. Good luck.

Paz said:
@laura
I change my oil every 5,000 miles. I did an oil change at 1,000 miles on my 2024 Corolla LE. Good luck.

I’ve been late on my oil changes, probably at 7k since the last one. Just got paid, so I’m scheduling an appointment now. I use high-quality synthetic oil. Is that the best choice for my 2020 Corolla LE?

@laura
Check your owner’s manual for the recommended oil type. I use Mobil-1 0W-08 for my 2024 Corolla LE. I also use Toyota oil filters and change the oil myself.

Congrats! That car will last you a long time if you take care of it.

You did well, even with your mom being an employee there. It didn’t seem to help much.

2025 Corolla LE without added packages was $24,150 out the door.

Fern said:
2025 Corolla LE without added packages was $24,150 out the door.

Wow, that’s a great deal! Here in Texas, the cheapest 2025 Corolla LE is $26k out the door.