Quote:
Originally Posted by agswin
Can somebody tell me what thse following terms are and if they are negotiable?
1% Financial Reseve MSRP - $281
thanks
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From Cliffy1:
"Now, as to your specific questions, the fees you listed are all part of the invoice.
TDA is not refunded. Its a real fee that the dealer pays to the regional distributor. Because its a regional fee, most on-line sources don't tell you what it is, but it is real.
WFR and HB are refunded to the dealer at a later date. They are used to cover various expenses associated with the vehicle. Most salesmen are not paid on these amounts."
TDA = Toyota Dealer's Assoc. (Regional Advertising Fee / $ varies by region)
Holdback (HB) = 2% of Base MSRP (Money dealer pays upfront, but is refunded after vehicle is sold)
Wholesale Financial Reserve (WFR) = 1% of Base MSRP (Floor planning allowance-covers interest incurred on inventory)
Are the fees negotiable? Everything is negotiable, but the dealer ultimately is the one who decides how much/little he'll let his vehicle go for.
Cliffy1 mentioned in a previous thread that when he bought his Tundra, he paid invoice minus hb & wfr, but paid the tda.
I recommend you go back and read through this entire thread - lot's of good 411. Or, use the search feature.