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Discussion Starter · #1 ·
Does walking into a dealership with $20k as a downpayment give you any kind of an advantage or chance to work a deal at invoice or close to invoice. I would think they would take you pretty seriously if your showing them that you are a serious buyer. Any first hand experiences.

Now I'm well aware of the the interest you lose by putting down $20k instead of putting it in the bank to gain interest. Some people like putting down a fat chunk of cash and other's like financing the entire sale. Personal choice.
 

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i say its a disadvantage they walk into the deal not thinking they will make more money on financing so you may not get as good of a price on the truck .. i would put 5K down and after a week send the finance company the 15K


this is my point of view and i am intrested in seeing what others say
 

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I will be slapping down the fat cash when I pick mine up. Interest shminterest in a bank. The money lost on not gaining interest in the bank is more than made up for on depreciation lost over time of owning the vehicle. If something happens, I own that much more of the truck and the sale dollars will be back in my pocket versus going back to the bank to pay off the loan.
 

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I paid cash. Didn't get me a better deal, except for not having to pay any interest. In fact, the dealership might make more money if you finance through them.

Jim
 

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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.
 

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BUCKEYEFAN,

Put 18large down and paid 7large under invoice? You mean MSRP Right. If not that dealer must really be bent over holding his ankles at that deal.:D
 

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Discussion Starter · #7 ·
BUCKEYEFAN,

Put 18large down and paid 7large under invoice? You mean MSRP Right. If not that dealer must really be bent over holding his ankles at that deal.:D
I was thinking the same thing. Ha. So even if it was 7k under MSRP, isn't that still like 4k under invoice? That seems huge but I don't think he's talking about a 07' Tundra.
 

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I was thinking the same thing. Ha. So even if it was 7k under MSRP, isn't that still like 4k under invoice? That seems huge but I don't think he's talking about a 07' Tundra.

Read it again. He clearly states he paid 7Gs under invoice for his Tundra. I think its and error, but you are right that still puts him standing behind the dealer with his pants down and monsterous grin on his face with that kind of deal. Let the stealership have it Buckeye fan!!:devil:
 

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Discussion Starter · #10 ·
Read it again. He clearly states he paid 7Gs under invoice for his Tundra. I think its and error, but you are right that still puts him standing behind the dealer with his pants down and monsterous grin on his face with that kind of deal. Let the stealership have it Buckeye fan!!:devil:
I'm with you on that. I new that he stated Tundra but what I was saying was maybe he got such a great deal because they were letting an 06' Tundy go cheap. He doesn't state he got that kind of a deal on an 07 anywhere. Anyone that can get 4k off invoice on anything is doing something right.
 

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Discussion Starter · #11 ·
never mention down payment until final price is decided on
So just walk in and say I'll pay $500 under invoice. If your lucky maybe they'll agree to invoice and that's still a great deal. What about during the negotiating when they ask you how you are planning on paying for the vehicle? Tell them you havn't decided yet?
 

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I just purchased my truck last week and paid 5K below MSRP and got my own financing. See Below.
 

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There is no real advantage to putting down 1K or 20K when buying a car. Leasing on the other hand is different but I assume you are buying?

The most important thing to know is how your credit is. The dealer should never know more about your credit than you. Get pre-approved with your bank or lending institution and know what your finance rate is. Then go ahead and grind the dealer down on price and let them think they are getting the financing for you. When you sign the contract (depending on which state you are in), you have 5 to 10 days to get your own financing regardless. 99% of the time you don't sign a contract, you sign a RISC which the dealer will go out and try to sell to lenders and make some points on your interest rate. When you have your own financing, you avoid paying more interest needlessly. Here is a website that has all kinds of great information on buying a car and not getting ripped by the dealer!

Carbuyingtips.com
 

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Discussion Starter · #14 ·
There is no real advantage to putting down 1K or 20K when buying a car. Leasing on the other hand is different but I assume you are buying?

The most important thing to know is how your credit is. The dealer should never know more about your credit than you. Get pre-approved with your bank or lending institution and know what your finance rate is. Then go ahead and grind the dealer down on price and let them think they are getting the financing for you. When you sign the contract (depending on which state you are in), you have 5 to 10 days to get your own financing regardless. 99% of the time you don't sign a contract, you sign a RISC which the dealer will go out and try to sell to lenders and make some points on your interest rate. When you have your own financing, you avoid paying more interest needlessly. Here is a website that has all kinds of great information on buying a car and not getting ripped by the dealer!

Carbuyingtips.com
I am planning on buying. I just refinanced my house and my credit is close to 850. That put me in Tier 1 financing at 2.9% for 60 mos. I can't possibly do better than that on my own.
 

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Discussion Starter · #15 ·
I just purchased my truck last week and paid 5K below MSRP and got my own financing. See Below.
I'm in Northern CA so I believe Toyota's offering the same rates in SoCal. How in the hell did you get 5k off MSRP? I've been told by a salesperson he can do 3k off MSRP which I believe puts it about invoice but your telling me you got your crewmax for 2k under invoice. I havn't seen anyone post anything like that. I'll take some pointers from you.
 

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with zero or 2.9% intrest why would you put $20k down??? Take that money and invest it at the very minimum a 5.5% CD and make more money!

When I purchased my $50k Dodge and they offered me 2.9% I put 500 bucks down. :D
 

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If you are getting that rate put as little down as possible and put your 20K in CD or IRA and forget about it!
 

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This is my my seventh Toyota since 1975. I have always bought at fleet pricing from a close friend who is a fleet general manager. I received my Tundra at $3200.00 off MSRP. He showed me the actual paid invoice which showed the dealer paid $1100.00 less after incentives from Toyota. The fleet managers cut is $350.00. Dealer profit is $750.00. If anyone is getting a better deal there dealer must be getting better volume incentives from Toyota. It's possible but not very common. The dealers have got to profit because of the high overhead.
 

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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 you are correct with your figures would you deal with for me!! I claim fowl here, that just seems impossible you got that good a deal? unless you forgot to mention a trade in or somehing? Toyota has NEVER given anyone that good a deal not even an Employee!!:td: :td:
 

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The MSRP was around 43,780. I put 1500 down. My negotiated price before tax license, reg was 38,881. Buying at the end of the month sometimes helps I've been told. I don't have the best credit and I'm betting I got the deal because the dealer thought they would make up for it with financing. But I got financed by my own bank 3 days later, and Voila!!!
 
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