Buying a car has become an increasingly complex and, to some extent, frustrating task. Waiting times too long, in many cases. The skyrocketing prices, both in new cars, as in semi-new Y second hand in general. Financing conditions are far from being the best. Gone are the days when there were good deals at dealerships and interest-free financing promotions.
Secondly, Those who go to buy a new car should know that most of the offers and the biggest discounts on new cars are subject to an essential condition, that of financing the purchase at the dealership.. Most of the new cars sold in Spain are financed. According to GANVAM (National Association of Vehicle, Repair and Spare Parts Sellers) 80% of the operations are financed. This means that modest and cheap cars are financed but, surprising as it may be, many high-end cars are also financed.
But there are also situations in which the buyer does not want to finance the purchase of a new car or, if he does, prefers that the financing be carried out by another entity that offers more favorable conditions and greater flexibility.
Most deals on new cars require financing at the dealership to get the biggest discount, on terms that are far from the most favorable.
Urban hybrid for €21,550, with ECO label and no tricks
Toyota’s commercial policy in Spain in the last year has changed. First, its offers are no longer so succulent and the discounted prices of its products have risen remarkably, following the trend that, unfortunately, we are observing in the rest of the brands and in the entire automotive sector in Spain. Second, the difference between promotions and offers by financing, and paying in cash, has been cut. The most basic hybrid Toyota Yaris was available for €18,000 exactly one year ago, now it is over €21,000.
In this way, it is possible buy a Toyota Yaris from €21,325, financing at the dealership, and from €21,550 in cash. Toyota proposes a financing plan in its 49-month offer with installments of €150/month, which requires a down payment of €7,787.9, a final installment of €10,768 (TIN: 7.95%, APR: 9.27% , opening commission of 2.99%: 404.76%). The total amount owed would be €17,968.18 and what the Toyota Yaris would finally cost us, at the conclusion of the loan, would be €25,756.08.
In other words, financing the Toyota Yaris under these conditions would cost us €4,310, or 20% more, than paying it in cash. So, if there is the possibility of paying for the car in cash, or getting a loan on more favorable conditions, it is worth looking for alternatives. Although it is true, the financing also includes the Toyota Relax warranty extension, up to 10 years or 185,000 years (whichever comes first).
With these promotions, if we have the possibility of paying for the car in cash, or financing with another entity under more favorable conditions, we should opt for these alternatives.
What hybrid car do I buy?
The Toyota Yaris is undoubtedly one of the best hybrids in its category. Maybe the best. With hybrid technology that Toyota has perfected over the past two decades. But not the only option, nor the cheapest.
From €20,629 we can access a hybrid Renault Clioa utility vehicle with an ECO label (full hybrid) with a really attractive promotion that requires financing (cash is €21,997).
On the other hand, with a budget of €22,000 we can access a wide range of hybrid cars with an ECO label, from semi-new Yaris and Clio, to hybrids of higher categories, such as Corolla or even RAV4, as we see in the Second-hand catalog of What car do I buy?:
