Tips on Toyota financing, trading in, and more?

[Planoman]

This is a fantastic thread.
I will defiantly employ some of these tactics. Here is how I begin negotiations:
** Please note all my numbers are guestimates - nothing real.

1- Research my vehicles value. First KBB, next private sale, then dealer sale. My example: 2022 TRD Offroad (TRD lift/Pro wheels, 15K). KBB=$36,000. Private=$39,500. Dealer=$42,900.
2- Find the vehicle I like (2024 Tacoma TRD Sport/Premium). Locate one that matches my specs and record MSRP $53,000
3- Mass email time. I include ALL dealers located within about 150 miles. Email them all with what I WANT for my trade ($40,000) and what I want to pay for the new one ($50,000).
4- Maybe 2-3 dealers will email me back (out of about 15), then I begin actual negotiations-all on phone/email. I NEVER go to the dealer. That is a giant vacuum.
5- When I arrive at the dealer, it's to sign papers.

You may have to visit the ones that respond favorably since they need to see & evaluate your trade in.

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[paulbdotcom]

You may have to visit the ones that respond favorably since they need to see & evaluate your trade in.

I've made deals without seeing the vehicle. I made a deal with a Subaru dealer in Maine, with trade-in, and meet him halfway. NEVER saw the vehicle prior. Meet me with paperwork, signed, and boom, done deal.

 

[Kielly]

Depends on the dealership with how they price out trades, but always negotiate the offer and be prepared to walk away if they lowball you. Also, always come to the table pre-approved for a loan and make the dealer beat the interest rate.

I've gotten this piece of advice a couple times but never really gave it thought as I have a current loan on my trade in vehicle. If I went to a credit union or my bank, surely they wouldn't do anything for me right? I assume they want no play in buying my vehicle from me lol

 

[Kielly]

I've made deals without seeing the vehicle. I made a deal with a Subaru dealer in Maine, with trade-in, and meet him halfway. NEVER saw the vehicle prior. Meet me with paperwork, signed, and boom, done deal.

I've done this too, bought from a dealer 5 hours from me as they cut my APR in half. They hand delivered the vehicle to me and drove my trade in back to their lot. All they needed was pictures to do their appraisal, didn't care about service history or nothing.

 

[jcwls3]

We have an agreement and deposit at Toyota of Dallas for a Trailhunter or TRD Pro. The deposit was $1,000 last November; the verbal agreement was for MSRP, with ToD reserving the right for a market adjustment.

My wife and I told the sales manager that we have not, nor will we ever, pay above MSRP for any vehicle. He was nice enough about that statement, and said that he “couldn’t imagine” a scenario where he’d charge over MSRP except in “exceptional market conditions.”

We will see where the rubber meets the road soon enough. We are first on the waitlist for a TH, second for a Pro. Both the sales manager and sales associate were nice enough people that we felt comfortable handling over that refundable deposit.

If we buy a truck from them, it’ll be both our first Toyota purchase and first time dealing with them.

 

[Planoman]

We have an agreement and deposit at Toyota of Dallas for a Trailhunter or TRD Pro. The deposit was $1,000 last November; the verbal agreement was for MSRP, with ToD reserving the right for a market adjustment.

My wife and I told the sales manager that we have not, nor will we ever, pay above MSRP for any vehicle. He was nice enough about that statement, and said that he “couldn’t imagine” a scenario where he’d charge over MSRP except in “exceptional market conditions.”

We will see where the rubber meets the road soon enough. We are first on the waitlist for a TH, second for a Pro. Both the sales manager and sales associate were nice enough people that we felt comfortable handling over that refundable deposit.

If we buy a truck from them, it’ll be both our first Toyota purchase and first time dealing with them.

I know Darren the managing partner pretty well and have for many years. He is a straight shooter and don't be afraid to get him involved if something doesn't feel right, he is usually at the dealership! I did not get this Tacoma from them, but they had the same one coming in but it may be caught up in these QC holds. I have purchased from them before and they were great to negotiate with and had no add ons.

 

[paulbdotcom]

We have an agreement and deposit at Toyota of Dallas for a Trailhunter or TRD Pro. The deposit was $1,000 last November; the verbal agreement was for MSRP, with ToD reserving the right for a market adjustment.

My wife and I told the sales manager that we have not, nor will we ever, pay above MSRP for any vehicle. He was nice enough about that statement, and said that he “couldn’t imagine” a scenario where he’d charge over MSRP except in “exceptional market conditions.”

We will see where the rubber meets the road soon enough. We are first on the waitlist for a TH, second for a Pro. Both the sales manager and sales associate were nice enough people that we felt comfortable handling over that refundable deposit.

If we buy a truck from them, it’ll be both our first Toyota purchase and first time dealing with them.

I honestly don't think anyone should even pay MSRP right now. A year ago, sure. Market is changing. I imagine the Trailhunter will cost 60K; and the Pro eclipsing that. Your average Joe isn't going to slam down that kinda green for a Tacoma. I see Tundra's sitting at dealers now in my area.

 

[paulbdotcom]

I've gotten this piece of advice a couple times but never really gave it thought as I have a current loan on my trade in vehicle. If I went to a credit union or my bank, surely they wouldn't do anything for me right? I assume they want no play in buying my vehicle from me lol

Doesn't matter what you owe on your vehicle - they pay it off. I don't usually own mine outright either.

 

[jcwls3]

I know Darren the managing partner pretty well and have for many years. He is a straight shooter and don't be afraid to get him involved if something doesn't feel right… I have purchased from them before and they were great to negotiate with and had no add ons.

Thanks for this. Very helpful. We visited the Toyota dealer at the corner of 635 and 35 in Dallas first, and left immediately with very bad vibes (the name escapes me; the shop left our minds the second we drove away). But South Toyota left a favorable impression both times we’ve visited.

 

[jcwls3]

I honestly don't think anyone should even pay MSRP right now. A year ago, sure. Market is changing. I imagine the Trailhunter will cost 60K; and the Pro eclipsing that. Your average Joe isn't going to slam down that kinda green for a Tacoma. I see Tundra's sitting at dealers now in my area.

You make a valid point. For us to buy either the TH or Pro, two things would have to happen: One, we’d have to fall in love with it hard. And two, the pricing relative to market has to be right.

I have no idea what the car dealership business will look like in several months when / if South Toyota manages to secure a truck for us to see. But if interest rates hold — and I expect we won’t see the Fed make its first cut until mid-summer at the earliest — I can’t imagine there will be huge demand for the halo trucks at their $60K-plus price points. Data shows that most people buying new cars today are financing most if not all the cost. Even someone putting down $10K on a TH or Pro might be financing $55K or so, with an eye-popping $1,100-a-month payment at 7 percent for 60 months. Insanity. And as a state where trucks reign supreme, Texas new-car buyers showed a record 25 percent of loans at or above that level for parts of last year. Double-insanity.

If the market continues to stay flat, MSRP will be off the table for us too, purely on principle. I totally agree with you.

 

[Kielly]

Well, that was pleasant. I went in super prepared to fight over my trade in value, add-ons, prices, APR rates ... I didn't have to fight about anything.

The appraised my vehicle at much more than I was expecting to get, higher than KBB actually, and they managed to get me a great rate at MSRP that I would've never even thought I'd get.

Absolutely fantastic customer service and as far as I'm concerned, my local Chevy dealer can shove their vehicles far up and take a few major key notes on how they should treat their customers. I never could've dreamed at having such a great experience dealing with a sales manager but they exceeded every expectation and raised the bar astronomically high for any dealer I'll have to deal with in the future.

Truck will be ready end of week for me to drive off! And it's so much more beautiful in person than in picture

 

[paulbdotcom]

I would love to know how they are paying when it comes to gen3 trades

 

[oxi]

Anybody using the Smartpath that Toyota has on their dealer web pages?

Get it all done online before you step into the dealer to pick up your allocation?

 

[Pootklopp]

Anybody using the Smartpath that Toyota has on their dealer web pages?

Get it all done online before you step into the dealer to pick up your allocation?

I tried at a local dealer, never heard anything back from them.

Another dealer used a trade appraisal service on there website, when I went in they offered me $8k less than what the service recommended.

I messaged @Jrouleau426 at 8:30am and had an under MSRP offer by 11:30am that no dealer I'm my state would come close to. Dealers need to go the way of the dinosaurs IMO.

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