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Pricing and DealersDiscussions that are specific to vehicle pricing, preferred dealer pricing, current incentives, rebates, and experiences.
This is a discussion thread titled "Advantage or not to putting down $20k?", within the Pricing and Dealers forum, part of the Marketplace Forums category.
The base MSRP price of the truck I'm looking at is $28110 before options. I just offered a fleet manager 4k under MSRP. If for some reason this offer was accepted would you consider that 1k or more under invoice. I have the invoice price from edmunds as $25439. I know it was a low ball number that I threw at him but he can counter and tell me what he can do. Any thoughts?
It could be $1000.00 under invoice but what you don't get to see is dealer incentives to the dealer from Toyota. This could consist of money off or free options. For instance by ordering x amount of trucks Toyota throws the dealer a bone of say free TRD packages etc. This does not show on the invoice. You the customer will be charged for options that the dealer never had to pay. This is only one of many variables that go into pricing a vehicle. I was lucky to have an inside source to see exactly what the dealer was into my truck for. Invoice can be misleading because you can't see these incentives. My best guess would be that 3 to 4 thousand dollars off MSRP is a pretty decent deal. But remember, no matter what the dealer gives you he is still making a profit and rightfully so. My thing is that even if I do pay a little more that I'm at least getting the best product I can for the money and beleive me Toyota is.
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2007 Tundra DC, 5.7, 4x4, TRD, TRD dual exhaust, back up camera, remote start, wood dash, Billet grill, 3M paint protection, Garmin 680 GPS, Nautical Blue w/beige interior, etc. etc
My other passion:
2003 Corvette convertible, Millenium Yellow, Z51, 6 sp manual. Lots of goodies.
It could be $1000.00 under invoice but what you don't get to see is dealer incentives to the dealer from Toyota. This could consist of money off or free options. For instance by ordering x amount of trucks Toyota throws the dealer a bone of say free TRD packages etc. This does not show on the invoice. You the customer will be charged for options that the dealer never had to pay. This is only one of many variables that go into pricing a vehicle. I was lucky to have an inside source to see exactly what the dealer was into my truck for. Invoice can be misleading because you can't see these incentives. My best guess would be that 3 to 4 thousand dollars off MSRP is a pretty decent deal. But remember, no matter what the dealer gives you he is still making a profit and rightfully so. My thing is that even if I do pay a little more that I'm at least getting the best product I can for the money and beleive me Toyota is.
I totally agree. You never 100% know the perks that the dealership was given by Toyota. They rarely lose money on a deal. If I can get my truck for 3k - 4k below base MSRP, I'll consider that below invoice and a really good deal. If I can get it below invoice and they still managed to make a profit, good for them. Then it's a win, win. I'm putting my together the package I want and sending to about 6 local Toyota dealers. If anyone is interested in letting one go below invoice, I'm sure they'll let me know and if they're not I'm sure they will give me an idea as to what they are willing to let it go for and I can use that info. to work against the other dealers to get the best price. I'm doing all my work through email and not walking into a dealer until they tell me they are ready to make it happen.
It only depends on the type of interest rate Toyota is offering versus what you can get on your money in savings/etc... If you can do better than 5.99% on your own, don't put anything down. If you can't, put it down on the vehicle.
The amount down has nothing to do with your chances of getting a great deal. If your credit is shot, $30,000 down won't do a bit of good.
The last part of negotiating is how you are going to pay for it. Go in educated - find out what the invoice is on the vehicle you want, and shoot for invoice or $500 over. No more. If you can't get it there, go to the next closest Toyota dealership.
Even make phone calls and tell them that is what you expect, and save yourself some haggling. I buy all my vehicles over the phone. No confusion when I walk in and buy. It's quick and painless.
I put $18,000 down, and got my Tundra for $7000 under invoice. It had nothing to do with the deal. That was decided at the very end.
If the deal was $7000 back of invoice, are you factoring in the huge rebates (up to $4000) that Toyota was offering on close-out '06's. If that's the case, $7000 would be your net savings, and not $7000 under invoice.
Anyway you shape it though, you got a smokin' deal, so congrats, and keep enjoying the truck.
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Re: Advantage or not to putting down $20k?
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