Toyota Tundra Forums banner
1 - 20 of 25 Posts

·
LOVES TO EDIT POSTS!!
Joined
·
1,267 Posts
Discussion Starter · #1 ·
I traded in, as some may know, my 2003 Tundra for a 2007 Honda Ridgeline. While it is a nice vehicle, I'm really missing having a true truck. Screw the in-bed trunk, I want to haul-A to the double S, V8 style! I've been on Edmunds and this is what I have configured:

2007 Toyota Tundra Double Cab, Shortbed, 4WD, 5.7L V8
Including
Anti-Theft system
Deck rail tie down system
Tow mirrors (w/ power heated system)
Mud flaps
DRL

I'm coming up with a TMV Price of 31,578, invoice of 29,303. Using their (Edmund's) Auto Loan calculator, this is what I put together.

I figured for my 2007 Ridgeline that 28,500 is the LEAST I'd take for it because I owe $16,000 on it after trade. With TTL on invoice, I have a total of 31384 on price for 2007 Tundra as described. I then minused the trade in value (28,500) including pay-off (16,000). Continuing with the terms I have on my current car note I put it at 8.0% over 72 months (yeah, I KNOW). I've estimated my payments at $331.09 based off of the terms and details outlined from the invoice price.

Do you think IF I could get the Tundra at invoice price that I might have any negotiation room left for actual APR or reduced monthly payment? With the numbers detailed I'm financing $18884. I've put in a price quote for a Tundra with the 4.7L V8, which I don't mind and would settle for IF it means lower payments and interest.

I'd jump on the deal, or similar, if I could get a 2007 Tundra 4WD Double Cab with either the 4.7L or 5.7L V8 (which I COULD live without) in Desert Sand Mica like my last truck for a payment as close to $300 a month as I can get it.

ANY help, comments, suggestions or otherwise? THANK YOU in advance for any help or assistance. I'm doing pricing right now, before commiting, to see if I can afford the change. I do know I'm going to get gouged on the trade.
 

·
Registered
Joined
·
263 Posts
I traded in, as some may know, my 2003 Tundra for a 2007 Honda Ridgeline. While it is a nice vehicle, I'm really missing having a true truck. Screw the in-bed trunk, I want to haul-A to the double S, V8 style! I've been on Edmunds and this is what I have configured:

2007 Toyota Tundra Double Cab, Shortbed, 4WD, 5.7L V8
Including
Anti-Theft system
Deck rail tie down system
Tow mirrors (w/ power heated system)
Mud flaps
DRL

I'm coming up with a TMV Price of 31,578, invoice of 29,303. Using their (Edmund's) Auto Loan calculator, this is what I put together.

I figured for my 2007 Ridgeline that 28,500 is the LEAST I'd take for it because I owe $16,000 on it after trade. With TTL on invoice, I have a total of 31384 on price for 2007 Tundra as described. I then minused the trade in value (28,500) including pay-off (16,000). Continuing with the terms I have on my current car note I put it at 8.0% over 72 months (yeah, I KNOW). I've estimated my payments at $331.09 based off of the terms and details outlined from the invoice price.

Do you think IF I could get the Tundra at invoice price that I might have any negotiation room left for actual APR or reduced monthly payment? With the numbers detailed I'm financing $18884. I've put in a price quote for a Tundra with the 4.7L V8, which I don't mind and would settle for IF it means lower payments and interest.

I'd jump on the deal, or similar, if I could get a 2007 Tundra 4WD Double Cab with either the 4.7L or 5.7L V8 (which I COULD live without) in Desert Sand Mica like my last truck for a payment as close to $300 a month as I can get it.

ANY help, comments, suggestions or otherwise? THANK YOU in advance for any help or assistance. I'm doing pricing right now, before commiting, to see if I can afford the change. I do know I'm going to get gouged on the trade.
I don't see any book values listed for '07's yet, but IMO (just my opinion), I think $28,500 is gonna' be a stretch, at least as far as getting a dealer to allow that much. How 'bout puttting a "for sale" sign on it? Might fetch closer to your desired price.

Good luck man...yeah those new Tundras are sweeeet!!!
 

·
Schumacher! Need I say more?
Joined
·
155 Posts
Do you have lube?
Why did you buy the POS in the first place. It's a good vehicle, but its a girl's truck. As far as your numbers....keep dreamin. You ain't dealing on a Dakota.
 

·
LOVES TO EDIT POSTS!!
Joined
·
1,267 Posts
Discussion Starter · #6 ·
omg, he said lube, I almost fell out of my chair. Nice post
Sorry, didn't see his original post. He is on my ignore list. I think the best thing to do is likely to wait for awhile before trading in and enjoy the hell out of a "girl's" truck. Funny, but the average driver of the Ridgeline is middle-aged MEN.

What I'm looking for is FINANCIAL or MONETARY advice, not irrelavent comments. They aren't helpful at all.
 

·
Registered
Joined
·
263 Posts
Sorry, didn't see his original post. He is on my ignore list. I think the best thing to do is likely to wait for awhile before trading in and enjoy the hell out of a "girl's" truck. Funny, but the average driver of the Ridgeline is middle-aged MEN.

What I'm looking for is FINANCIAL or MONETARY advice, not irrelavent comments. They aren't helpful at all.
I think the Ridgeline is a pretty cool truck. A bit funky design-wise, but very versatile nonetheless. Plus, it's a Honda. Hang on to it for a year or two and then think about switching back to a full-size truck.

Like I said ealier, if you're eager to get out of it now, try selling it on your own.
 

·
LOVES TO EDIT POSTS!!
Joined
·
1,267 Posts
Discussion Starter · #8 ·
I think the Ridgeline is a pretty cool truck. A bit funky design-wise, but very versatile nonetheless. Plus, it's a Honda. Hang on to it for a year or two and then think about switching back to a full-size truck.

Like I said ealier, if you're eager to get out of it now, try selling it on your own.
That, is what I've decided to do. Thank you VERY much for your helpful reply. It is greatly appreciated. I think my biggest complaint about the Ridgeline is looking back I think I didn't get the best deal I could've. I paid sticker, minus trade in, and negotiated off of monthly payments not total balance. My mistake and I WON'T do it again. Next time, like I was doing with the 2007 Tundra, I'll get prices and selected equipment from the internet and go armed with the printed information. If they don't like the deal, go elsewhere or go online. The problem I have with online is buying ANYTHING like a vehicle sight-unseen. I don't mind driving from Tucson to Phoenix to do shopping though, because of the LARGER inventory.
 

·
Registered
Joined
·
263 Posts
That, is what I've decided to do. Thank you VERY much for your helpful reply. It is greatly appreciated. I think my biggest complaint about the Ridgeline is looking back I think I didn't get the best deal I could've. I paid sticker, minus trade in, and negotiated off of monthly payments not total balance. My mistake and I WON'T do it again. Next time, like I was doing with the 2007 Tundra, I'll get prices and selected equipment from the internet and go armed with the printed information. If they don't like the deal, go elsewhere or go online. The problem I have with online is buying ANYTHING like a vehicle sight-unseen. I don't mind driving from Tucson to Phoenix to do shopping though, because of the LARGER inventory.
Trust me, I know how you feel. There's nothing worse then feeling like you got taken. Even the most skilled car buyers can get stumped at times. Like SFTundraMan pointed out to me...we learn from our mistakes.

You can't take back the deal you made on your Ridgeline, but you now know that you'll do more research when it comes time to buy your Tundra. Don't beat yourself up anymore, but rather, enjoy your truck in the meantime.

Feel free to ask for advice anytime. That's what the forums here are all about.
 

·
Mod formerly known as tpgn00
Joined
·
641 Posts
I think the problem that most buyers have when trying to negotiate is the trade in. You can negotiate off invoice all day long, it's when your talking about trading in a vehicle, especially if you have negative equity that becomes the problem. The invoice numbers are out there and dealers know that, they try to stick it to you when you try to trade a vehicle in. I would agree with selling private party.
 

·
Registered
Joined
·
263 Posts
I think the problem that most buyers have when trying to negotiate is the trade in. You can negotiate off invoice all day long, it's when your talking about trading in a vehicle, especially if you have negative equity that becomes the problem. The invoice numbers are out there and dealers know that, they try to stick it to you when you try to trade a vehicle in. I would agree with selling private party.
I agree with you 100%. Trades can be very tricky, especially when you get your hopes up by checking values on KBB and then the dealer comes back with an offer $3,000 less than what you were expecting.

They can manipulate this process as most buyers don't understand the true value of their trade. If websites like KBB offered "realistic" wholesale/retail values and the consumer understood how far back of book dealers were going on particular models, negotiations would be far easier IMO.
 

·
Registered
Joined
·
263 Posts
I think the problem that most buyers have when trying to negotiate is the trade in. You can negotiate off invoice all day long, it's when your talking about trading in a vehicle, especially if you have negative equity that becomes the problem. The invoice numbers are out there and dealers know that, they try to stick it to you when you try to trade a vehicle in. I would agree with selling private party.
I agree with you 100%. Trades can be very tricky, especially when you get your hopes up by checking values on KBB and then the dealer comes back with an offer $3,000 less than what you were expecting.

They can manipulate this process as most buyers don't understand the true value of their trade. If websites like KBB offered "realistic" wholesale/retail values and the consumer understood how far back of book dealers were going on particular models, negotiations would be far easier IMO.
 

·
Registered
Joined
·
1,343 Posts
I agree with you 100%. Trades can be very tricky, especially when you get your hopes up by checking values on KBB and then the dealer comes back with an offer $3,000 less than what you were expecting.

They can manipulate this process as most buyers don't understand the true value of their trade. If websites like KBB offered "realistic" wholesale/retail values and the consumer understood how far back of book dealers were going on particular models, negotiations would be far easier IMO.
even better, if every customer paid sticker price, then you would get what kbb said for your trade, SO IT IS ALL YOUR FAULT, HAHAHAHAHA

KIDDING OF COURSE
 

·
Registered
Joined
·
4,437 Posts
Dealers love trade-ins, as they usually make more money selling them than the new vehicles. I sold my last two vehicles at garage sales getting thousands more than the dealer offered me. Nothing wrong with the dealers, they are providing a service and trying to make money. I prefer the little hassle of selling the used ones myself and saving money. Plus the persons buying my used vehicles are getting a well maintained car cheaper than they would from the dealer. I also sell my houses by owner as it usually works out as a better deal for me and the buyer.
 

·
Registered
Joined
·
154 Posts
even better, if every customer paid sticker price, then you would get what kbb said for your trade, SO IT IS ALL YOUR FAULT, HAHAHAHAHA

KIDDING OF COURSE
I don't agree I think most Dealers goal is for every customer to pay MSRP and screw you $3000 dollars on a trade or more. I have 30 years of buying cars to prove my point. Present company excluded SFTundraMan.
 

·
Registered
Joined
·
1,343 Posts
I don't agree I think most Dealers goal is for every customer to pay MSRP and screw you $3000 dollars on a trade or more. I have 30 years of buying cars to prove my point. Present company excluded SFTundraMan.
If you take out the Prius a year ago. There hasnt been another Toyota that has normally sold for msrp in probably the past 4 years.

Just fyi, we lose money on trades all the time. It is not automatic that we make money on trades. And if everyone paid retail blue book for our used cars, again, we wouldnt have to take them in $5000 back of book. But everyone wants to buy ours at wholesale. So that means we have to give you less for yours. It is all linked together. A vicious circle that aint changing any time soon. If it was up to me, bring in a check, no trade and no drama, lmao

It is simple logic, as the prices go down for what you pay for mine, the prices go down for what I pay for yours

Basic laws of economics
 

·
Registered
Joined
·
263 Posts
If you take out the Prius a year ago. There hasnt been another Toyota that has normally sold for msrp in probably the past 4 years.

Just fyi, we lose money on trades all the time. It is not automatic that we make money on trades. And if everyone paid retail blue book for our used cars, again, we wouldnt have to take them in $5000 back of book. But everyone wants to buy ours at wholesale. So that means we have to give you less for yours. It is all linked together. A vicious circle that aint changing any time soon. If it was up to me, bring in a check, no trade and no drama, lmao

It is simple logic, as the prices go down for what you pay for mine, the prices go down for what I pay for yours

Basic laws of economics
Very well said ... one more reason why I'd buy a car from this guy! :)
 

·
Registered
Joined
·
170 Posts
I traded in, as some may know, my 2003 Tundra for a 2007 Honda Ridgeline. While it is a nice vehicle, I'm really missing having a true truck. Screw the in-bed trunk, I want to haul-A to the double S, V8 style! I've been on Edmunds and this is what I have configured:

2007 Toyota Tundra Double Cab, Shortbed, 4WD, 5.7L V8
Including
Anti-Theft system
Deck rail tie down system
Tow mirrors (w/ power heated system)
Mud flaps
DRL

I'm coming up with a TMV Price of 31,578, invoice of 29,303. Using their (Edmund's) Auto Loan calculator, this is what I put together.

I figured for my 2007 Ridgeline that 28,500 is the LEAST I'd take for it because I owe $16,000 on it after trade. With TTL on invoice, I have a total of 31384 on price for 2007 Tundra as described. I then minused the trade in value (28,500) including pay-off (16,000). Continuing with the terms I have on my current car note I put it at 8.0% over 72 months (yeah, I KNOW). I've estimated my payments at $331.09 based off of the terms and details outlined from the invoice price.

Do you think IF I could get the Tundra at invoice price that I might have any negotiation room left for actual APR or reduced monthly payment? With the numbers detailed I'm financing $18884. I've put in a price quote for a Tundra with the 4.7L V8, which I don't mind and would settle for IF it means lower payments and interest.

I'd jump on the deal, or similar, if I could get a 2007 Tundra 4WD Double Cab with either the 4.7L or 5.7L V8 (which I COULD live without) in Desert Sand Mica like my last truck for a payment as close to $300 a month as I can get it.

ANY help, comments, suggestions or otherwise? THANK YOU in advance for any help or assistance. I'm doing pricing right now, before commiting, to see if I can afford the change. I do know I'm going to get gouged on the trade.
You probably arent going to like this advice, but here it is. New cars and trucks while nice to drive are not investments. Figure out what you have in equity in the Ridgeline, sell it privately and then take the equity and buy another v8 tundra, maybe add in a few grand to get an 05 or 06. That way you get a nice, reliable truck that wont depreciate so quickly. The luster of a new vehicle is gone in about a year, but you are looking at spreading out the payments over 6. Either that or hold on to the ridgeline. In the long term it will do well for you as a good reliable vehicle. Hope this helps.
 

·
Registered
Joined
·
70 Posts
If I remember right I viewed a your thread back in March when you picked up the Ridgeline. My advice to you is; Do the smart thing and drive the Ridgeline for a couple of years, otherwise the loss/deprecation on the two month old Honda will be a pill you won't be able to swallow, weather you trade it in or sell it outright.
 

·
Registered
Joined
·
536 Posts
Trading in never, but I always ask for their price during a service visit. On average, I have gotten $5K more selling on my own compared to what the dealer offered. An add in the Seattle times costs $50 and runs till sold. At least it was last time I checked.
 
1 - 20 of 25 Posts
Top