Sell or Keep? How much is a brand new Corolla TS worth?

[Danharvey]

This will probably sound a little strange but bear with me.

Bought a Corolla HB Icon Tech in March 22 but by September 22, I realised that the boot just is not big enough and ordered a Corolla TS 1.8 Icon.

However, like a lot of us, I am still waiting for the car (sat on build in progress currently) and the dealer hasn't been very helpful.

I test drove a Renault Arkana yesterday and I am now at the point where I am unsure if I really want another Toyota or not.

Question is, if I took delivery of the Corolla TS and then sold it, how much would it really be worth?

I've paid £28300 (added Obsidian Blue Paint) for it with £20k on finance at 1.9% but list price has shot up.

Considering the dealer could probably punt it on and get double bubble on the finance, is this a futile exercise or could I get a decent amount for the car? I know cars drop value when the drive off the forecourt etc but I've not had a great experience this time around.

Open to all suggestions and feedback.

[Don Mac]

Have you spoken to the dealership about cancelling your order? They would probably be able to find another buyer without any effort (just by going down their order list I suspect), so you ought to be able to get your deposit back without any hard feelings.

[Danharvey]

Luckily, I've not had to put any deposit down for the order.

I am in positive equity by about 3k on my Corolla HB so was interested to see if I would have more if I took the TS and then sold it.

[Bper]

Why bother with the hassle, if you do not want the Toyota and prefer the Renault then cancel the order and if you have put down a deposit get it back and move on.

If you go ahead with the Toyota purchase you will loose money so not a good idea.

[Mojo1010]

The dealer doesn't know until the car start being built, so it's not they are being unhelpful. Do some research on what the gen 5 corolla command on the usual car sale sites? 

[tfc]

Second hand cars are fetching a good price nowadays 

[AisinW]

You just missed the best value car but if you need bigger boot, nothing is bigger in Corolla TS class from Toyota. You can try Skoda octavia, or any other brands but don't expect Toyota reliability. You can try RAV4, comparable to Renault Arkana.   Highlander is only offered in Germany, but all are full equipped, no basic option. Make it in GLE and X5 price range. 

Any Toyota are always cheap because the resale value is high and we barely have any repair bill in the first 10 years. Price= new price-resale+repair costs.

[Roy124]

Is it boot length or volume?  

We find the FWD Yaris Cross has more use able boot space and 40 20 40 rear seat. 

There is a large space under the lower boot if you don't take the spare wheel option, then a useful under boot.  It's no large enough for luggage but ideal for stashing loose stuff, coats, boots etc.  Then the upper boot has more height.  If you remove the upper boot floor you have a similar volume as a 1.8 Corolla without a spare wheel. 

 

[Danharvey]

49 minutes ago, Roy124 said:

Is it boot length or volume?  

We find the FWD Yaris Cross has more use able boot space and 40 20 40 rear seat. 

There is a large space under the lower boot if you don't take the spare wheel option, then a useful under boot.  It's no large enough for luggage but ideal for stashing loose stuff, coats, boots etc.  Then the upper boot has more height.  If you remove the upper boot floor you have a similar volume as a 1.8 Corolla without a spare wheel. 

 

The TS boot will be more than enough so the Renault will cover all avenues.

I went to look at an Arkana before I bought the Corolla HB I currently have about 18 months ago.

The dealer messed me about so much (wanted to talk figures first before I even got a test drive) that I ended up walking out before having said test drive.

However I now live somewhere else and have access to another dealer. They can supply me one from stock so I took one out.

I know it's subjective but the trim and how it was put together felt better and it was a lot quieter than my 1.8HB and the demo TS I tested.

Toyota dealer has been uncomunative and a bit of a pain to deal with. I know they know as much as anyone else but whenever I've asked even a simply question, I've had to send 2/3 emails to get a cursory answer.

All I really wanted to know was what it would be worth to a dealer if I did sell it after taking delivery.

 

 

[AisinW]

I suggest you buy the Touring sport instead and sell the HB if it fits your need. You can buy used one with about 60k miles, the price drop significantly but still barely breaking in. Your lower km HB can be sold at higher price if it has low mileage. Sell it on your own in Gumtree/Facebook or any online platform, not to dealership 

Generally, the TS is always quieter, just like in Auris too. It has lower frequency noise tone from larger chamber (volume).   

[FROSTYBALLS]

As regards selling the TS, is that going to be the Toyota dealer you ordered from, another Toyota dealer, the Renault dealer, or .....

What happens if the price offered is below what you need?

At the end of the day, you're not going to get an accurate picture of what a dealer will pay on these forums - just conjecture.

Too much hassle. Seems as though you were more interested in the Renault anyway. Just cancelling the order would be the simplest. 

[Hybrid21]

I agree, if it was me I would cancel the order and go for the Renault.

Not worth the hassle and you could end up losing out financially.

[Mojo1010]

Go for the Arkana if you really like it. Maybe keep it for 3 years, as long term reliability will not be on the level of Toyota. And go through drive the deal for best price. 

 

[Steven83]

Maybe times have changed but no way I’d choose a French car over a Japanese  car (although they are built in uk) 

[fourbanks]

The current loss for my Lexus with 3000 miles on the clock 10 months old has lost £12'000  thats purchased new at £36'000 and now the dealer price now down to £24'000 

so be careful. Luckily, my car's perfect and no way would be selling but with regret the car's a loser and i guess the same would be for the Toyota 

[yossarian247]

1 hour ago, Steven83 said:

Maybe times have changed but no way I’d choose a French car over a Japanese  car (although they are built in uk) 

The heavy depreciation on many French cars (in the UK at least) tends to make them an expensive car to own over the long term too. I owned a succession of Peugeots and Citroens and they were virtually worthless at 7-8 years old, even though mine were generally immaculate and had been serviced on the dot.

[AisinW]

Mike is right, cancel the order if possible. I suggest to negotiate with the dealership and see if they can give you Corolla TS instead. 

I will never ever buy Renault cars. The brand that bring Nissan reliability down to the ground with cut cost everywhere just to survive. 

Nissan was known for reliability, in par with Honda and Toyota until merged with Renault in 2000.  Only the sport performance car division in Nissan is still great.

[Steven83]

4 hours ago, AisinW said:

Mike is right, cancel the order if possible. I suggest to negotiate with the dealership and see if they can give you Corolla TS instead. 

I will never ever buy Renault cars. The brand that bring Nissan reliability down to the ground with cut cost everywhere just to survive. 

Nissan was known for reliability, in par with Honda and Toyota until merged with Renault in 2000.  Only the sport performance car division in Nissan is still great.

You save a fortune on bulb replacements with Renaults tho since the electrics never work. 

[AisinW]

Renault Zoe and Nissan leafs are kind of Jokes too. Many owners got Battery replacement before warranty expired because they are just damn bad design. the Battery itself is good but the air cooling is just stupid. Even RAV4 plug-in has heat pump warmer and cooler although not as good as Tesla 16 ways cooling/heating heat pumps.  I owned Nissan Altima with QR25DE engines, they are known for blown head gasket well before 100k miles, and oil drinker. The catalytic converter got overheated and crumbled, suck back by CVVT system and scored the cylinder wall. My Nissan Altima 02 burn 1L oil every 1k miles at 63k miles, head gasket leak at 67k miles, just outside warranty period. The catalytic converter also died at 78k miles, replaced under warranty but it still burns oil. All shocks and 2 out 4 engine mounts fall apart, rear bearing went out  at 80k miles, alternator at 90k miles, dashboard beeping randomly, and caster not really line up (unfixable alignment).  Crankshaft and camshaft position sensors replaced 2x. First time is free under recalls but not the 2nd time. Transmission sensors also go nuts after 110k miles. Not sure how and why it was so problematic since Renault took offer Nissan. 

Many Nissan after 2000s are also very bad with rust, some are as bad as Flinstone car, where your legs can go through the ground from severe rust. 

[Chuffmonkey]

On 5/31/2023 at 10:18 AM, fourbanks said:

The current loss for my Lexus with 3000 miles on the clock 10 months old has lost £12'000  thats purchased new at £36'000 and now the dealer price now down to £24'000 

so be careful. Luckily, my car's perfect and no way would be selling but with regret the car's a loser and i guess the same would be for the Toyota 

That seems to be some loss in the current shortage of the used car market. Admittingly I have not looked at the used market since I got my car in June 22 but last year, a year old car was similar to new cars price wise.

When I ordered my car at a Toyota dealership, Jan 22 (Due to used cars prices being so strong) I noticed the forecourt was pretty empty. When I took my car for its first service last month the forecourt was rammed and I couldn't park. Maybe the new supply is starting to catch and the used values coming down.

[Mojo1010]

On 5/31/2023 at 9:44 AM, Steven83 said:

Maybe times have changed but no way I’d choose a French car over a Japanese  car (although they are built in uk) 

Times hasn't changed in this case (it will never change in our lifetime at least). Would never go for the Renault myself no matter how good it look or drive. Will end up heavy depreciation and cost of niggling repairs after warranty. The 2.0 TS will be a quieter engine. 

[Danharvey]

Decided to keep the TS.

 

All academic anyway as dealer has said that as the value of my Corolla MY22 HB has dropped, if I want the car, I will have to pay another £70 a month for it.

 

Order cancelled 

[Steven83]

15 minutes ago, Danharvey said:

Decided to keep the TS.

 

All academic anyway as dealer has said that as the value of my Corolla MY22 HB has dropped, if I want the car, I will have to pay another £70 a month for it.

 

Order cancelled 

I thought you had a HB and it was the TS on order?

[simond64]

14 minutes ago, Danharvey said:

Decided to keep the TS.

 

All academic anyway as dealer has said that as the value of my Corolla MY22 HB has dropped, if I want the car, I will have to pay another £70 a month for it.

 

Order cancelled 

This appears odd, although you said you hadn’t put a deposit down? Was your hb on a pcp? I ordered September with a my22 hb changing to my23 TS all on pcp, the deal is sealed when you sign the order, trade in and PCP are set. My pcp won’t change on delivery even if prices have changed, how come your dealer asked more?

[Danharvey]

Just now, simond64 said:

This appears odd, although you said you hadn’t put a deposit down? Was your hb on a pcp? I ordered September with a my22 hb changing to my23 TS all on pcp, the deal is sealed when you sign the order, trade in and PCP are set. My pcp won’t change on delivery even if prices have changed, how come your dealer asked more?

Hi.

 

Yes the Corolla HB I have is on a PCP.

 

They were using my HB as deposit and offered me £24250 for it.

Now told me 10 months down the line that it's only worth £20k and payment will go up £70.

 

They said they can't take the hit.