2018 Toyota Camry Eligible For $1,000 Loyalty Bonus

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Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

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, Senior Pricing Analyst - July 17, 2017

The redesigned 2018 Camry has barely arrived, but Toyota has already rolled out a treat for current customers. In most parts of the country, you can now combine 1.9% financing with a loyalty bonus worth up to $1,000.

However, the savings varies depending on which version of the all-new vehicle that you choose. So what are the offer details? Are there any exclusions or restrictions? And what do current deals look like?

Here's what you need to know.

Offer Details

Beginning July 14, current Toyota and Scion customers are eligible for a loyalty discount worth up to $1,000 off the 2018 Camry or Camry Hybrid. The most notable requirement is that you need to finance or lease through Toyota Financial Services.

L, LE and SE models are eligible for a $500 discount. The range-topping XLE and XSE get a larger amount worth $1,000. Although there aren't any other cash discounts, the offer can be combined with 1.9% financing for 60 months (or 2.9% for 72) in most regions.

You don't need to trade-in your current vehicle, plus the discount can be transferred among members of the same household. Simply show proof of registration or valid proof of insurance. The offer is set to expire September 5, 2017.

Promotional lease deals haven't debuted yet in most parts of the country. Based on our analysis, the only deal we've been able to find is in San Francisco at $269 for 36 months with $1,999 due at signing for the 2018 Camry LE.

In the same region, the 2018 Camry Hybrid LE can be leased from $289 for 36 months with $2,799 at signing. Both offers feature a standard allowance of 12,000 miles per year. The effective monthly cost of the Camry is $325, while the Hybrid is $367, a difference of $42/month.

For a frame of reference, the 2017 Camry SE is currently listed at $189 for 36 months with $1,999 at signing here in the Los Angeles area. That equates to an effective cost of $245, or an $80/month advantage over the 2018 model offer noted above.

Our Take

If you're a Toyota or Scion customer who has been looking forward to the 2018 Camry, this is a nice little discount. However, given that inventory has barely started to arrive, shoppers should expect to pay a premium at the dealer.

In contrast, the 2017 Camry is a stellar value right now. Dealers are motivated to clear remaining stock, and Toyota is offering a $3,000 rebate in many regions — the highest to date. Alternatively, you can finance at 0% APR for 72 months and get a $500 bonus.

That said, we expect it won't be long before offers improve on the 2018 Camry. Midsize car sales have been suffering and competitors like the Hyundai Sonata are offering up to $6,750 in discounts at the moment.

With a base price of $24,885 with destination, the all-new Camry offers a ton of value with a more sporty look compared to last year. It also features Toyota Safety Sense at no extra charge, which includes adaptive cruise control, a pre-collision system, lane departure warning and more.

Build & price the 2018 Camry »

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website