buying new 2007

[r32]

Hey guys.

As some of you know, I've been looking at buying. While I've been searching high/lo for a Sport Edition w/out the Sunroof option I have contact some dealers.

One dealer got back to me and offered this deal.

Titanium 2007 Sport Edition 4WD V6 which is exactly what I was looking for except that it comes with the Extra Value Package (sunroof, double decker cargo, etc.) which I didn't want.

He's offering to me with a 2k rebate on 34, 832.

Total is 31,888 out the door.

OR...

Zero Financing for 60 months at 564.80 which comes out to 33,888.

I was planning on laying down about 15k on it. So not sure how that would affect the financing?

Would guys take this deal? It's a 2007 and from some other lot so it's already been sitting outside for a year. This is vs. trying to custom order a 2008 SE without the sunroof.

Thanks

 

[TRBenj]

Hey guys.

As some of you know, I've been looking at buying. While I've been searching high/lo for a Sport Edition w/out the Sunroof option I have contact some dealers.

One dealer got back to me and offered this deal.

Titanium 2007 Sport Edition 4WD V6 which is exactly what I was looking for except that it comes with the Extra Value Package (sunroof, double decker cargo, etc.) which I didn't want.

He's offering to me with a 2k rebate on 34, 832.

Total is 31,888 out the door.

OR...

Zero Financing for 60 months at 564.80 which comes out to 33,888.

I was planning on laying down about 15k on it. So not sure how that would affect the financing?

Would guys take this deal? It's a 2007 and from some other lot so it's already been sitting outside for a year. This is vs. trying to custom order a 2008 SE without the sunroof.

Thanks

OTD pricing doesnt mean anything to me- sales tax and title/licensing fees vary greatly.

Im also unsure what the "extra value package" includes. Option packages vary by region, so break it out by individual options.

Check Edmunds for what they say the invoice price is. If the price BEFORE any rebates isnt within a few hundred bucks of invoice, you can do better. Also check Buyatoyota.com and put in your zip to verify the rebate in your region.

Whether the cash rebate or special financing works out better is dependant on the amount you put down and the term of the loan.

 

[r32]

Here's what it looks like on paper.

Hmmm....seems like I would be paying to much.

 

[toto]

Given those numbers and a $2000 rebate, a good price on that truck before tax/title would be $29,000. That's what I'd actually be willing to pay, but I'd start the negotiation lower. I'd keep reminding them it's a 2007.

 

[rguin]

Re: buying 2007

Why not look at an 08 which will come with side impact airbags? The invoice on an 08 with the features that you are looking for is $30,799. You should be able to get one $600. over invoice or less.

 

[2002psm]

I had the same deal for a 2007 V6 Sport with sunroof, I got the 0% financing with out the door price of $34,700+. It had less than 100 miles.

I wanted to give some down payment, but for every 1k, its less $16 from the monthly payment. I thought I'll just double the monthly payments and be done hopefully 2.5yrs.

I was considering the 08 but there's no promo (0% or cash back) on the dealer.

 

[r32]

Ok here is how the 2008 offer from the Stealership stacked up.

Invoice is only 30k which is definitely not bad. If I could get just over that at 31 I'd take it.........if I could get zero financing. But they aren't offering zero right now. He gave me 5.9 @ 60 months which is OUCH.

I wonder if Christmas holidays will bring back ZERO financing for 2008?

He told me this financing is available until Dec. 3rd. Same with '07 financing that he offered.

 

[Colemanfu]

I would say it's not a good deal. It's an 07? Think about how much more you would pay for an 08? He should sell it for 30 or 4k less. Remind him it's an 07 but 1st check out some deals on and 08.

 

[r32]

I would say it's not a good deal. It's an 07? Think about how much more you would pay for an 08? He should sell it for 30 or 4k less. Remind him it's an 07 but 1st check out some deals on and 08.

The top post is a quote for a 2007.

The bottom post is a quote for a 2008.

 

[toto]

I'd go up to $31,000 for the 2008, as opposed to $29,000 for the 2007. Both of those are fair prices (before tax/title) where the dealer will make a few bucks (not a lot, but enough).

 

[TRBenj]

You should be going by the Edmunds invoice price, minus the discount- not "what others are paying", regardless of whether you buy the '07 or '08. The one thing that I dont think Edmunds take into account is the Toyota regional advertising fee (which really isnt a BS charge), so their invoice price may be a few hundred low.

You should be able to negotiate a deal for actual invoice or lower on the '07, or right around the actual invoice on the '08- before the rebates of course.

 

[tonybaloney]

if you are money conscious like i was, you should look into a low mileage used one. i got mine SE V6 4x4 for 27K drive out with only 3800 miles on it. it was practically new but saved me 5k.

 

[Zmtking]

Here is how I approach it. Don't take anything less than $2500 in this case off of the total MSRP for the selling price if it has a $2000 rebate (if the rebate is $1500 then no less than 3K off MSRP and so on). Your tax, title licence... will be added, then your rebate will be duducted along with your down payment to determine the finance amount.

Discount with rebate will likely never go below $4500 of MSRP unless it's a 2007 and they want to move it. Take your time and visit as may dealerships as you can. It took me all of three months to find the right vehicle at the right price on the last day of the month. You can probably work the interest rate down too if they are hungry. Shopping around for an interest rate will give you some leverage there. The dealership beat my credit union rate which leads me to believe they know what who is offering out there too.

Good luck.

 

[J.A.]

Here is how I approach it. Don't take anything less than $2500 in this case off of the total MSRP for the selling price if it has a $2000 rebate (if the rebate is $1500 then no less than 3K off MSRP and so on). Your tax, title licence... will be added, then your rebate will be duducted along with your down payment to determine the finance amount.

Discount with rebate will likely never go below $4500 of MSRP unless it's a 2007 and they want to move it. Take your time and visit as may dealerships as you can. It took me all of three months to find the right vehicle at the right price on the last day of the month. You can probably work the interest rate down too if they are hungry. Shopping around for an interest rate will give you some leverage there. The dealership beat my credit union rate which leads me to believe they know what who is offering out there too.

Good luck.

This is the type of thinking that my purchasing page was put together to challenge.

You should never factor MSRP in your calculations. Using your methodology above, Why do you feel that if there is a change in in "Factory to Customer" cash rebate that that should change what your best offer (before rebate) should be?

You can definetly get (much) better than $4,500 less than MSRP with factory to customer cash rebate of $2k. Always shoot for $0-$500 over invoice (before, and regardless of the amount of, cash rebate) which gives the dealer a fair 3%-5% profit margin.

 

[TRBenj]

This is the type of thinking that my purchasing page was put together to challenge.

You should never factor MSRP in your calculations. Using your methodology above, Why do you feel that if there is a change in in "Factory to Customer" cash rebate that that should change what your best offer (before rebate) should be?

You can definetly get (much) better than $4,500 less than MSRP with factory to customer cash rebate of $2k. Always shoot for $0-$500 over invoice (before, and regardless of the amount of, cash rebate) which gives the dealer a fair 3%-5% profit margin.

Agreed. Dealing from MSRP is assinine.

At the end of the month/quarter/year, dealers will sometimes deal below invoice (to meet sales goals, etc). Theyre still making the holdback. It also helps to get dealers in a bidding war- I ended up getting mine more than $6k below MSRP with a lesser rebate.

 

[toto]

+3. Ignore MSRP. Don't look for a certain dollar amount or even a percentage off MSRP. Deal up from the vincinity of the invoice price, or from a number below invoice reduced by the amount of any applicable rebates.

 

[Zmtking]

I don't disagree with the 3 of you at all, that actually is the best approach. Definitely something you should know of up front. I shouldn't have spoken so absolute thanks for chiming in.

It just turns out in the 07 sport V6 4wd model thats how it ends up just under invoice. If you can get $4500 off including rebate your almost always going to be at or under invoice. Checking the 08 models it still holds true. If you can do better that's great. I had a hard time finding the right version, settled with an almost loaded model, versus the base model which I was looking for. In the end I'm happy with what I got.

My sticker was $35,654, I received 3K off sticker, and a $1500 rebate used as free money added to my down payment. Under invoice by a couple hundred $$. I suppose I could have gotten more off, I don't know. I figured $4500 off was below invoice and they let me have it (maybe I shouldn't put it that way lol). The difference if the rebate was deducted before tax, title...is something I haven't figured out, maybe it offsets the deduct some being applied after, so net I'm guessing maybe right at invoice. Did that make sense?

You worked a great deal for more than 6K off. It's my understanding that the higher the price of the vehicle the more they take off.

 

[r32]

Originally posted by Zmtking It just turns out in the 07 sport V6 4wd model thats how it ends up just under invoice. If you can get $4500 off including rebate your almost always going to be at or under invoice. Checking the 08 models it still holds true. If you can do better that's great. I had a hard time finding the right version, settled with an almost loaded model, versus the base model which I was looking for. In the end I'm happy with what I got.

My sticker was $35,654, I received 3K off sticker, and a $1500 rebate used as free money added to my down payment. Under invoice by a couple hundred $$.

You worked a great deal for more than 6K off. It's my understanding that the higher the price of the vehicle the more they take off.

Did you pay everything up front or finance? If finance, what are your payments and finance rate?

 

[TRBenj]

It just turns out in the 07 sport V6 4wd model thats how it ends up just under invoice. If you can get $4500 off including rebate your almost always going to be at or under invoice.

The point is that you should be at invoice +/- $500 BEFORE applying the rebate.

A few other important things to note:

- If trading a car in, keep the deals separate. Negotiate a price on the new vehicle, then negotiate a price on the trade. The dealer will often times play games with the numbers when looking at both transactions as one. Consider selling your old car privately, or to another used car dealer.

- Have a financing method pre-approved (credit unions usually have pretty decent rates). Dont make it a bargaining chip for the dealer. It wont hurt to see if they can beat your financing deal AFTER negotiating a final price, but again, keep the deals separate.

 

[Zmtking]

I was right at +500 before rebate. $3K off sticker. The rebate at the time was $1500. for a total of $4500 from the dealer if you will. The 08's are not that much more, and you can still get invoice for a 2007 at Edmonds to check it out.

I had secured financing from two sources going in. My credit union was the lowest at 7.99. I'm sure I will get a better rate next time. Building credit takes time.

finance rate of 7.79% 60mo $548 per month. I did get the extended warranty too. Not too sure if that was necessary though, time will tell. I put a lot of miles on my truck already so it's probably a good thing. 22800 since April 30th.