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Discussion Starter · #1 ·
To whom ever can help,

I'm in the market for a new Tacoma, matter of fact, I know the one I want and it is at the dealership. I about last month I was preapproved for the vehicle, and was told I was eligible for the best interest rate availabe (yet, the would not tell me over the phone), and would recieve the "red carpet" treatment. Well, something happened and I had to postpone buying a new truck.

Well, I went to the dealership today, truck is still there, to see if they would tell me an interest rate. Not only was the saleman extremely rude, telling us he really didn't have the time to help, but he did not think he needed to tell me an interest rate. He kept asking me what my bank was offering. Needless to say I left very PO'd at him.

My question is, is this typical Toyota service and if any one has bought a Tacome recently, what interest rate did you recieve?
 

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I would think real hard about buying a Tacoma. There are a few bugs and incovieniences with the 05 and 06 models, and I bet 07s still have them.

If you get one, I'd get a huge bug deflector, and bars otherwise you might as well kiss your paint goodbye.

Good luck........... PS, that dealership would be the last I buy from.
 

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Find a good new car auto broker. They will beat most dealership prices and you don't have to haggle with a freakin salesperson. No, I'm not a broker, but I have purchased my last 3 cars through a broker and saved $1000's.
 

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I'd find somewher else to go. Of course, I had the luxury of talking to six different dealerships before I bought. If you pretty much have to go with this one dealer because he's the only one in the area, I'd suggest settling on price and then talking financing afterword. Of course, have alternative financing pre-approved so you aren't held at the dealer's whim if he's going to mess around with you on the financing side.
 

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Are you a member of any local credit unions? I was able to get 5% for 60mths. I won't go into detail about the problems with the Tacoma's because you can do a search and you'll find many. Having said that, I don't think Ford, Dodge, Chevy, Nissan are any better. You can head over to there forum's to validate this. Also, I certainly wouldn't deal with this dealership. What you can do if your sold on this particular vehicle, find another local dealership and have them do an even trade. Tell the other dealership your experience and I'd bet they can get you a good, if not better deal than you otherwise would have got from that lousy dealership. If that doesn't work out, check online there are many websites where you can tell them what vehicle/options you want and allow them to bid competitively for what you want. Good Luck...
 

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I bought my '07 Taco at the end of January. MSRP $27,750. No trade. I financed through "Toyota Motor Credit". The TMC interest rate was predicated on model and year of the vehicle. I think it was 1.9% for '06 leftover Tacos, for 36 months, but of course those were few and far between. No deals on '07 Tacos. My rate is 3.9% for 36 months. I put $10.5K down, to keep the payments reasonable. It would have been 5.9% for 60 months.

These TMC rates were common knowledge at the dealer. They were not a secret. My last three Toyotas have been financed by "Toyota Motor Credit". No banks in our area could compete with TMC.

When I bought the '95 Taco new, in January '96, the deal was Zero down, 1.9% for 36 months. I took the offer. TacoGuy
 

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Discussion Starter · #7 ·
Thanks everyone for your input. I do have the luxury of going else where and that is what I will probably do. But I did sent a complaint to that dealership, explaining my displeasure with the individual. I have also contacted the internet/fleet dealer for the area, so, we'll see what they have to say.
 

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Here is the thing....your interest rate dosent matter; the price you "negotiate" to dose not matter; the amount they give you for your trade dose not matter. The only thing that matters is: (the amount of your monthly payment x number of payments (months)) + the amount of your down payment(trade equity + money down)= how much you are actually paying for the vehicle. Dealerships simply buy down the buy rate of your contract by increasing the price of the vehicle to offer you rates such as 1.9%. (Do you really think there is any bank in the world that is going to lend 25k and only make 1.9%?!!!!!!!!). This is why you can usually get like $3000 worth of rebates OR 0%. It is all tricks of the trade.

If you have good to excellent credit you payment should work out to about $20 dollars per thousand financed on a 60 month term. I suggest you find a toyota dealer that dosent negotiate. Then do some research on prices of comparably equipped tacomas in the area. (I sell cars for a living) any questons, please ask...
 

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Thats why you get pre-approved by your bank/credit union. Figure out how much the truck you want costs, figure out the amount of monthly payment you feel comfortable paying and term, walk up to the dealer and tell them you will buy the truck for x amount of money. If you use TMC or one of their preferred banks, be sure to consider how much the payments are, for how long, and determine the end price on your own. There are free calculators on the web that you can use. Some dealers like to put pressure on you, "well if you pass on this offer today, I cant guarantee it will be available tomorrow." Most salesmen are about the same level as lawyers. And dont let them pressure you into buying extra garbage you dont want that is doing nothing but driving up how much you are paying out. Be ready to jew (oops, I'm not Al Sharpton..), talk down the payment. Doesnt hurt to bargain with them, as they might take your offer or meet you in between. Have them throw in some goodies BEFORE you sign the papers, like the hood deflector and stepbars. Unfortunately I spaced out on doing that before I signed and I didnt get didly. A co-worker bought pretty much the same truck from a different dealer, same price, and got a few toys thrown in.
 

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This is why you shouldn't walk into a dealership to buy an automobile. The salesman, being a "I want it now" type personality, will think you were "wasting his time" before and are again, most likely.

Do this if you want a fair price with no hassles or games. Do not get caught up in the idea of wanting ONE particular truck on ONE lot or they will rape you financially.

1. Go to carsdirect.com and check the price for the model you want there. That IS the real price, but you will also pay about $499 in dealer fees in addition to that price.

2. Also see their links for arranging financing. You will usually do better arranging it on the web anyway, but it's good to walk in knowing you're approved somewhere.

3. If you do want to try to play the dealer lot games, you can take your quote in and ask them to beat it, and show them your loan approval. But I would personally not reward the dealer after the rude treatment.

4. They can get this particular truck and have it exchanged and brought to the dealer near you that they work with.

Even if you prefer to deal in person, I would work with the internet manager at a dealership, not a floor salesman. You'll likely get treated better, get a better price, and get fewer games.

Carsdirect was how I got my Tacoma and it was the easiest of about 10 new vehicle purchases I've made over the years. You then just show up at the dealer they use and do the paperwork. In and out in half an hour.
 

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I would think real hard about buying a Tacoma. There are a few bugs and incovieniences with the 05 and 06 models, and I bet 07s still have them.

If you get one, I'd get a huge bug deflector, and bars otherwise you might as well kiss your paint goodbye.

Good luck........... PS, that dealership would be the last I buy from.
Zero issues on my '07 that is almost 6 months old and has 6,000 mi. Only complaint would be that I prefer flatter cornering that any stock truck offers (except x-runner).
 

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Here is the thing....your interest rate dosent matter; the price you "negotiate" to dose not matter; the amount they give you for your trade dose not matter. The only thing that matters is: (the amount of your monthly payment x number of payments (months)) + the amount of your down payment(trade equity + money down)= how much you are actually paying for the vehicle.

If you have good to excellent credit you payment should work out to about $20 dollars per thousand financed on a 60 month term. I suggest you find a toyota dealer that dosent negotiate. Then do some research on prices of comparably equipped tacomas in the area. (I sell cars for a living) any questons, please ask...

This is called being a "payment shopper" and while it has elements of truth it is how most buyers get in trouble. Go find any book on car buying and they will tell you to avoid this approach. It's best to "do the math" on any deal with a financial calculator to come up with the present value of the payments being made. They can play tricks with the numbers. You are correct that one hand giveth (low interest rate) and the other take away (higher price) but training people to shop based on payments ignores the fact that not everyone can negotiate the tricks and traps they throw in for payment shoppers.

My final advice would be that if one has any problem getting financed, that is telling you that maybe you really can't afford it or have higher financial priorities (like getting 6 months living expenses in the bank saved for hard times) In recent times they've trained us to borrow more and extend payment periods to the point where we consider it normal. It's not. I would avoid the "must have it all now" trap.

I paid cash for my Tacoma, but to do that I drove a lot of lesser vehicles over the years (not junkers, just cheaper trucks and cars) to get to that point. I'm sure this tactic won't be popular here.
 

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To whom ever can help,

My question is, is this typical Toyota service and if any one has bought a Tacome recently, what interest rate did you recieve?
I bought a 07 Tacoma DC April 6th and Toyota's interest rate then was 0% for 24 months; 1.9% for 36 months; 3.9 for 48 months and don't remember what the % was for 60 months.

I received much different treatment at my dealer, much different.
 

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This is called being a "payment shopper" and while it has elements of truth it is how most buyers get in trouble. Go find any book on car buying and they will tell you to avoid this approach. It's best to "do the math" on any deal with a financial calculator to come up with the present value of the payments being made. They can play tricks with the numbers. You are correct that one hand giveth (low interest rate) and the other take away (higher price) but training people to shop based on payments ignores the fact that not everyone can negotiate the tricks and traps they throw in for payment shoppers.

My final advice would be that if one has any problem getting financed, that is telling you that maybe you really can't afford it or have higher financial priorities (like getting 6 months living expenses in the bank saved for hard times) In recent times they've trained us to borrow more and extend payment periods to the point where we consider it normal. It's not. I would avoid the "must have it all now" trap.

I paid cash for my Tacoma, but to do that I drove a lot of lesser vehicles over the years (not junkers, just cheaper trucks and cars) to get to that point. I'm sure this tactic won't be popular here.

What he said :tu:

Except for me, I had the cash but chose to use TMC's attractive interest rates & am disciplined in making the payments or double up the payments. I do not like owing money & all my toys are cash only but sometimes borrowing is a good thing. (Even though I know a car is NOT an investment but my portfolio is). I'm using my money to work for me, BUT you gotta know yourself really well.

However, I understand my situation isn't the same as others who may have to finaggle their finances differently. By the grace of some power greater than me, I landed a good job early and learned discipline.

Good luck with your purchase and know there is alot of trucks out there & there is one with your name on it. :tu: :tu:

ps. Edmunds.com has all the incentives for new cars or trucks. Check em out.
 

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Discussion Starter · #15 ·
I'm just looking for the best offer I can get. I've been preapproved for the vehicle through TMC but no one will tell me what the interest rate is. I've went as far as getting an agreeable quote on the vehicle (one that I'm happy with that is), yet they will not tell me the interest rate. That is why I went there on Saturday was to find that out, but I get the treatment. It's not about being financially strapped, I just want the best deal I can get. I've already planned to put down $9K, so it's all up to the rate I get if you ask me.
 

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Discussion Starter · #16 ·
I contacted the manager and he gave me the truck $100 over invoice. He was very appologetic over the entire deal and I must say, I love the truck. Its been a long time coming. Anyway, does anyone have a lift on their tacoma? I'm looking into a 3" lift. Any recommendations? I'm looking into a Tuff Country suspension lift, does anyone know how good of a product that is?
 

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I contacted the manager and he gave me the truck $100 over invoice. He was very appologetic over the entire deal and I must say, I love the truck. Its been a long time coming. Anyway, does anyone have a lift on their tacoma? I'm looking into a 3" lift. Any recommendations? I'm looking into a Tuff Country suspension lift, does anyone know how good of a product that is?
I just put 265/75/16 BFG TA/KO's on the truck today and when it was on the lift and the tires were on there it looked sooooooo sweeeetttt :devil: !!! I will probably go with the ToyTec 3" lift here in a couple weeks. I'm wondering which one is the best to go with though too. The tires are perfect on this truck! Going to the woods this weekend to get them dirty! JB
 

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I went to fightingchance.com website and used his method for buying my 07 DC 4x4 V6 Tacoma.
Walking in and trying to negotiate on a new vehicle is like trying to beat the house at a casino.
At least check out the above website and others like it. Yes, it requires that you make a couple of phone calls, but it will save you hundreds if not thousands of dollars.
The only reason you'll be walking into the dealership is to test drive and sign the papers...never to negotiate the deal!
 

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If you ask a sales guy what the car cost, hell say "X dollars down and Y dollars a month". They are taught that. They never say "x dollars total, after Y dollars down and Z months". In other words, they dont want you to think about the total. They are praying for the "Its only 400 amonth? I can do that!" mentallity. The same mentality that gets people swamped with credit debt and never able to save and buy real estate or other investments. Your the one with the cash, and its your kneck on the line if you choose to finance so if they wont tell you info about the deal your about to sign, walk away. Toyota has another waiting for you somewhere else.

I called around to all the dealers in my area and asked to speak to the internet sales manager. They seam to advertise lower deals on the internet adds than when you walk in. I found the dealer who agreed to everything I wanted for a certain price, no hassles. It worked and I own it.

Toyota also gives deals to big companies to save the whole negotiation process. I called Costco and they gave me a list of dealers that honor a costco pricing agreement. I told the galon the phone I was a Costco member and she asked me for my Costco number and her charts showed a price that was actually better than her internet adds, so she offered me that price. Nice. Microsoft has similar deals in my area. Its a perk not to have to haggle and get a certain amount above invoice set in stone.

Good luck!


Dave
 

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I went to fightingchance.com website and used his method for buying my 07 DC 4x4 V6 Tacoma.
Walking in and trying to negotiate on a new vehicle is like trying to beat the house at a casino.
At least check out the above website and others like it. Yes, it requires that you make a couple of phone calls, but it will save you hundreds if not thousands of dollars.
The only reason you'll be walking into the dealership is to test drive and sign the papers...never to negotiate the deal!
Fighting chance is a good reference 'cause it was written by a guy who worked in the car biz for a long time. I recommend buying the book, "Car Buyer's and Leaser's Negotiating Bible." You can find it at your local bookstore for about $15.

As for Costco and AAA pricing, that's fine if you don't want to make any effort at the pricing, but you can do much better than their set "X amount over invoice" pricing.

I'll give you an example: When I worked for an Infiniti dealership, my AAA member pricing sheet for G-35 sedans was $800 over invoice, but we used to blow those things out without much convincing for $100-$300 over. Hey, it's still $500-$700 bucks you could've saved and not even really needed to grind the salesman.

To each his own though...I still get stumped and taken from time-to-time and I used to work in the industry. You have to trust yourself and only yourself when putting a deal together, no matter how nice or trusting your salesman seems. I just payed 1.75% points higher on a loan 'cause I trusted someone I knew that convinced me that for the term of my loan, that it was the best rate. Like a dummy, I took it and then later found out that with my excellent credit, I qualified for a much lower rate. I'm now refinancing with another credit union and the original CU that funded the loan was not happy when I called for the pay-off on my truck yesterday.
 
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