As the MSRP rises, the invoice will adjust accordingly as all the options have a retail and invoice price too. You'll be negotiating the price of your truck which includes all the options.Hi, I am new on this forum, but I am a tundra fan. I want to lease the new 2007 Tundra Double Cab 4WD sr5 5.7L, with Option C . The thing is that I know you are suppose to negotiate the price like you are buying , but are you suppose to negotiate the price with or without the options added on? Also what can I expect for the monthly payment? I know their trucks hold great residual value, so doesn't that mean that the payments should be less?
Also , I have a 2006 tacoma DC that needs to be traded in , any idea on how to get the best price on the trade in? How do I spring it on to them without mentioning it to them when they ask from the start?
Sorry for asking so many questions, your answers will be greatly appreciated
Example: Truck A has a "total" MSRP (includes all options) of $35,000 and it's invoice (the price the dealer paid with all options) is $31,500. Let's say you make a deal at $500 over the dealer's invoice, you'd then be actually buying the truck for $32,000. Then of course, you have to add tax, title, license, any warranties, etc. With a lease, in most states, you'll pay the tax in your monthly payment, as oppossed to paying tax on the full sale price.
As for trade-in values, the previous generation Tundra's are going about $3,000 back of wholesale book (at least in Ca.). Meaning, if the wholesale value on your truck is $20,000, the dealer will want to offer you $17,000. Make sense?
If your truck is paid off, or how much you still owe will dictate if you're in an "equity" position or not. You can check the value of your truck by going to Kelly Blue Book. New Car Prices | Used Car Values - Official Kelley Blue Book Site
As for leasing, two things will need to come into play to keep your payments down. #1. A high residual value and #2. a low money factor. When you see dealer's offer special leases, it's usually because the captive finance companies, like TFS (Toyota Financial Services) are subsidizing the loans by either offering a low money factor and/or by inflating the residual value. Still with me?
You should always keep your transactions seperate. By this I mean, negotiate the price of the new vehicle and get them to commit first. Then, have them evaluate your trade. Be prepared to negotiate on this too. Another example: I recently traded my '05 Tundra for an '07 Tacoma. They wanted to give me $16,600 initially, but a little negotiating got them to step up $1000 to $17,600.
*Side note, if you're already leasing your '06, chances are you don't have any equity and will be upside down (you owe more than it's worth). In situations like that, and especially with a lease, many people bargain for monthly payments.
Hope I didn't confuse you too much?