I am looking at a new 2012 Toyota Corolla. Should the prices of 2012s go down as the 2013s come out? That is, should I wait a few months to purchase?
The main differences on the 2013 Corolla are a new grille and exterior accents and a standard 6.1-inch touch-screen for the stereo on LE and S models. Prices on the 2013s are up by $100 on the base L, $240 on the S and $270 on the LE, so you should expect to pay at least a little more if you wait for the latest version.
We don’t see evidence of major discounts on Corollas in your area, and the only current offers from Toyota (through Oct. 1) are zero-percent financing for 36 months, 1.9 percent for 48 months and 2.9 percent for 60 months. You could wait and hope that the deals get better, but Toyota does a good job of managing old inventory, so don’t expect a fire sale on 2012s. Instead, you may find a more limited selection at prices that haven’t dropped much.
Even if you have your mind set on a Corolla, we would encourage you to shop other compact sedans. The Corolla was last redesigned for the 2009 model year, and although it is one of the more dependable compacts, several rivals have newer designs and better fuel economy, including the Hyundai Elantra, Honda Civic and Chevrolet Cruze. It wouldn’t hurt to at least do some price comparisons to see what kind of deal you could get elsewhere.
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