Couldn't tell ya. I've never had the option of offering 25k cash ha.
help me brainstorm what to get for my next vehicle
- Thread starter sixstringsteve
- Start date
Couldn't tell ya. I've never had the option of offering 25k cash ha.
ttora4runner
Well-Known Member
- Location
- Colorado Springs, Again
Have you tried Penfed, for a loan?
sixstringsteve
Well-Known Member
- Location
- UT
I don't know what that is. I'll look into it.
sixstringsteve
Well-Known Member
- Location
- UT
Won't I get the best discount by getting a loan through the dealership? Essentially they lower the price because they want to make money on the loan interest? If I finance through another institution, the dealer doesn't make money, do they?
Depends if Toyota has financing discounts at the time. Don't think most of the dealerships finance loans themselves. When I bought my F150 I received a pretty good discount financing through Ford even though the interest rate sucked. The requirement for the discount was keeping the loan through them for at least 3 months. Once the 3 months was over I just refinanced through my bank. It was enough of a discount to make it worth it... something like 4k. That said Toyota doesn't have problems selling the Tacoma so I doubt to many offers will be out there
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Deleted member 12904
Guest
I remember when I bought my Tacoma I went to 4 dealerships trying to work deal and none of them would budge more than $1500 off msrp. A few of them flat out told me if I don't buy that truck someone else will tomorrow.
In reality this is what helps keep resale so high on those trucks. When a manufacture comes out with large rebates on vehicles it instantly lowers the resale of the used market also.
If your not in a hurry you may find 0% factory financing on new trucks as the next years models start to hit the lots.
Also so you may be able to find a Toyota power seller much like Dave Smith motors is for dodge and chevy up in Idaho. I know several people that buy trucks from them and save several thousand.
In reality this is what helps keep resale so high on those trucks. When a manufacture comes out with large rebates on vehicles it instantly lowers the resale of the used market also.
If your not in a hurry you may find 0% factory financing on new trucks as the next years models start to hit the lots.
Also so you may be able to find a Toyota power seller much like Dave Smith motors is for dodge and chevy up in Idaho. I know several people that buy trucks from them and save several thousand.
clfrnacwby
Recovery Addict
- Location
- NV
Steve, my best friend I grew up with in Cali is a Sales Manager @ Teton Toyota in Idaho Falls. I bought my Tundra from him. I can get you his contact info if you'd like.
sixstringsteve
Well-Known Member
- Location
- UT
I don't want to finance unless it gets me a lower price out the door. If I did finance, I'd pay it off the next day. I just know that dealers want you to finance more than pay cash, so that might give me some more buying power.
Unimog
Eric
- Location
- Stansbury Park, UT
Dealers rarely finance their own loans, they do, however, usually mark up the interest rate to get "dealer participation" on the financing. In my opinion, doing financing through the dealer does not get you a better price. I could be wrong.
sixstringsteve
Well-Known Member
- Location
- UT
I test drove a '95 tacoma with the 3.4L. It was even faster than TRD270's 4runner. What a fun truck. But the owner thought it was made of gold and he was about $1500 too expensive. I made an offer, but it didn't work out. It's all for the best, because it only seats 2 and I really want a 4 seater.
jeep-N-montero
Formerly black_ZJ
- Location
- Bountiful
Most loans have a pre payment/early termination penalty, meaning if you pay it off too early there is a charge, meaning if the loan has not matured long enough to make them money on the finance charge you will have to pay them some money to terminate the loan. Interest is where banks make their money. And yes, Toyota has TFS (Toyota Financial Services), kind of like their own bank. Link here http://www.toyotafinancial.com/pub/home/ but your best bet is always to get approval from your own credit union to save on your APR.
As for your dream of finding a lower mileage Toyota at a good price, most people buy a Toyota because they know they can rack up miles on them reliably and still sell them for a decent amount down the road, but you might get lucky and find an old grandpa mobile that was only driven on Sundays. Then again, there are probably 500 other guys looking for the same truck at any given time in the area, this is why people can sell them for their asking price. When I worked at Toyota it was when the original double cab debuted, we sold all of them for full sticker and couldn't keep them in stock, this also helps resale when a manufacturer doesn't need to give incentives to sell a vehicle.
As for your dream of finding a lower mileage Toyota at a good price, most people buy a Toyota because they know they can rack up miles on them reliably and still sell them for a decent amount down the road, but you might get lucky and find an old grandpa mobile that was only driven on Sundays. Then again, there are probably 500 other guys looking for the same truck at any given time in the area, this is why people can sell them for their asking price. When I worked at Toyota it was when the original double cab debuted, we sold all of them for full sticker and couldn't keep them in stock, this also helps resale when a manufacturer doesn't need to give incentives to sell a vehicle.
sixstringsteve
Well-Known Member
- Location
- UT
Makes sense. In that case, I might as well just save up a bit and pay cash.
That's completely inaccurate. Some crappy loans have pre-payment fees but anyone with decent credit won't have a pre-payment penalty on the loans they should be qualifying for. As for paying cash for your vehicle, dealers will try and screw around with the amount if they know you're paying cash. The last couple vehicles I've bought, I've paid cash. I don't let the dealer know until everything is negotiated and they have me go talk to their finance guy. The look on their faces is usually priceless as they usually think I'm going to finance through them and I get to crush them with "I'll be right back with a cashiers check for the amount, made to XXXX dealer is ok, right?"
. I refuse to give them my social or anything during negotiations. So financing through them doesn't really get you a better price, but if they know you're not financing through them it can get you a worse price. Keep it to yourself, let them hear what they want to hear (i.e. when they ask if you've already secured financing, or if you've pre-qualified simply tell them you haven't spoke with any banks yet...or if they ask about your credit, assure them you have excellent credit but don't give them your social). You could always try and use financing as a means of negotiation, but I've never seen them give a better price. What I've found usually gets you the best price, and irks the dealers the most is go in knowing exactly what you are going to pay (i.e. do some research, call around to other dealers, check out all the various websites that will give you what people in your area are paying, etc). Be reasonable (if all the sites are saying invoice is $30K, and MSRP is $36K and the average person is paying $32K in your area, don't go in and expect to pay $28K, but in that scenario, I'd shoot for something in the $31K range...although my current Tacoma, I ended up paying less than their invoice, I think it helped a little that we were buying two at the same time ). Also be willing to walk away if they don't meet that price, the next dealer will meet that price if it's a reasonable number. Also, be sure to check out Vegas dealers. They are usually jackasses but you can generally get 4x4's down there a bit cheaper than you can here along the Wasatch Front. You'll just have to handle the sales tax and registration on your own instead of having the dealer do it. FWIW, I fully recommend Karl Malone Toyota if you're buying new, I've heard good things about Mark Miller but my experience hasn't been very good with them and I avoid Larry Miller at all costs (although I did buy my wife's Lexus from them since they're the only Lexus dealer along the Wasatch Front and Vegas or Idaho dealers didn't have what we were looking for).
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sixstringsteve
Well-Known Member
- Location
- UT
Fantastic advice caleb, that's exactly what I needed to know. Thank you. I wish I could have you along when I get mine.
Something I've wanted to try but am too impatient is back in the day, my wife's grandpa owned a fairly large successful construction company. What he would do is write a letter to the dealers in the area and tell them exactly what he wanted for his trucks. He would simply tell them they have one shot and if their price was the best price, he'd be in with a check. He wasn't going to negotiate so whatever they came back with was what their best price was. He said he always ended up under invoice for all his trucks and usually ended up with more options than what he wanted, but always had at least what he wanted. I'd love to tell a dealer you have one shot if you want my business, go.
sixstringsteve
Well-Known Member
- Location
- UT
Smart man.
Truecar.com seems to be a good resource for value of a new vehicle. I've used it on my last two dealer purchases to get better prices
Edit: https://www.truecar.com/prices-new/...732&incentiveIds=&trimId=264252&zipcode=84121
According to truecar average paid price is about $500 off sticker, max around $800 which seems true with Tacoma's
I didn't do many options on the link you can fiddle with it see what numbers it gives you for the options you want
Edit: https://www.truecar.com/prices-new/...732&incentiveIds=&trimId=264252&zipcode=84121
According to truecar average paid price is about $500 off sticker, max around $800 which seems true with Tacoma's
I didn't do many options on the link you can fiddle with it see what numbers it gives you for the options you want
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sixstringsteve
Well-Known Member
- Location
- UT
The guy in so called with the 87 runner has finally contacted me and decided to sell his runner. Now I'm not sure if I want it or not.
- Location
- Stinkwater
You're horrible. Go get it. If it's as clean as it sounds, you can easily sell it for more here than you'll pay for it there so jump in the pool already.
193kyle
Well-Known Member
- Location
- Chattanooga, TN
Honestly Steve, it sounds like a nice clean rig, but I don't think it meets enough of your requirements to make it worth it. I really think the only rig you will be remotely happy with is a double cab pickup. Every vehicle you have had that didn't have a bed, you got rid of, because you hated not having a bed.