Toyota dealers are charging up to $30k over MSRP for GR Corolla

The practice excludes many customers from the market and damages brand loyalty.

for Esteban Rios

December 31, 2022 at 11:50 a.m.

for Esteban Rios

The Toyota GR Corolla is without a doubt one of the best hatchbacks and perhaps one of the best cars that the brand makes right now. It’s fun, it’s fast, and it’s functional too. That combination has some dealerships going to great lengths to squeeze extra money out of Toyota customers’ pockets, sometimes to the tune of $30k on the tag.

Toyota gave the base GR Corolla an MSRP of just $36,995. Even the Enhanced Circuit Edition is priced at a very reasonable $42,900, while the super rare Morizo ​​Edition has an MSRP of $49,900. Despite the automaker’s set price tags, we’ve found three dealerships that charge enough to buy a second new car just on the markup.

The first is Lone Star Toyota of Lewisville. According to a Markups.org user, the dealer sent him the sheet seen below with a grand total price for a base GR Corolla of $59,993. To get to that figure, the dealer has the audacity to charge $15,000 in pure margin on top of a $1,995 “Lone Star Appearance Package.” If I was tricked into buying this car, the last thing I would want to do is advertise the shady dealer who dragged me to the coals in the process.

Read: Ridiculous profit margins on the Toyota GR Corolla start at 50% above MSRP

Next up is Roseville Toyota, which has a $19,995 “dealer added surcharge” on its base GR Corolla. Because of the options, his MRSP is $40,168 (window sticker below). The profit margin represents a price increase of 49.7%. Is that the kind of great customer service Toyota expects its dealers to provide eager young buyers? Interestingly, Toyota Marin, not far from Roseville Toyota, appears to have a GR Corolla priced at $40,469.

Finally, North Park Toyota of San Antonio is pretty sure it can get away with a starting price of $70,576 on a base GR Corolla with an MSRP of $40,576. That’s $30,000 and 73.9% more than Toyota says the buyer should pay for the car. Again, these aren’t your super special, limited Morizo ​​Edition cars and they’re not your mid-grade track edition either.

Ultimately, there is little we can do other than expose these greedy and brand-damaging markups. Study after study finds that customers are less likely to return to a brand after a dealer has charged above MSRP.

That shouldn’t come as a surprise when automakers announce a price and then dealers ignore it and add thousands to the final price. Until people stop paying these outrageous fees or automakers find a way to crack down on dealerships, the practice is likely to continue.