Prices Dropping

[bzizzi]

I noticed that the entire car market has really cooled off, i'm seeing dealer lots fill back up for most manufactures.Toyota/Lexus still still seems to be selling though but that has cooled off a bit as well.I traded in my 2020 TRD ORP W/KDSS for a 2024 W/KDSS and even more options. When you trade the only number that really matters is the price difference. I noticed dealer gave me a good trade value
on the higher side of KBB. I also noticed dealer knocked over $10K off sticker price of the new 4R. Said Toyota is making one final production push of the fifth gen 4R before retooling for the 2025 and have really cut the price on the fifth gen.So if you find the right dealer they will pass on the savings to you. Most dealers won't knock off that much and still want to make as much as possible.

 

[Old Grom]

Around here in NE Florida, I'm only seeing about 3K off sticker, except on the Pros which are scarce and listed at TSRP. TRDORP aren't sitting on lots very long except a few. I test drove a ORP in Underground color with the XP package (southeast package with black TRD wheels and some other goodies). I drove it the day after it arrived and it was gone within a week. Limited trim on the other hand....there's tons of those sitting on the lots. I'm selfishly hoping they don't slow down production too soon because I intend to scoop one up this year. I just don't want white, silver, black or red. Underground or blue is what I'm looking for.

I'm all for tech and having the latest and greatest but the 6th gen is going to be too expensive.

 

[thatoneguy]

I doubt you got $10k off sticker unless your dealer was incredibly desperate to hit some end of month quota on the last day. Would love to see pics of the paperwork if it's true though! It's definitely possible to get more money off on excessively optioned models.

Around my area, anything non-PRO is $3,000 off at no-haggle dealerships. I've been hearing of people in other areas managing $4k off.

Since Toyota refuses to put a promotional financing rate on the 4Runner, $45-$55k trucks with 6-7% rates means cash on the hood.

When I ordered in the second half of 2022, I felt happy to get MSRP, then I took delivery in 4/23. Now it would be moronic to take MSRP. Bought at just the wrong time, even factoring in MSRP increases!

 

[BlueHenT4R]

$10K off sticker? What dealer and salesman? I think dozens here would line up for that.

 

[bzizzi]

Out of respect for other dealers I'm not posting my paperwork on this deal, however it is real and I did PM the details to a few members.

 

[Nick B]

$10K off sticker? What dealer and salesman? I think dozens here would line up for that.

If it was $10K off the actual factory sticker then the dealer is loosing money .

 

[manofsteele2003]

It was probably $10K off of the dealer marked up sticker.

I am also glad to see the market cool off, prices were getting absolutely ridiculous.

 

[jreask]

We bought our 24 Pro on the last day of January. We were talking with the dealer for a few days before we bought it. The dealer called us and offered 2K off of the TSRP sticker. Couldn’t pass it up.

 

[OSSGuy]

If it was $10K off the actual factory sticker then the dealer is loosing money .

Not if they undervalued the trade-in. It's a numbers game...

 

[Humble Leader]

when toyota unveils their new 6th gen 4runner with an ugly giant screen in the front, a crappy 4cyl turbo and the same gross exterior styling as the new Landcruiser - the 5th gen 4runners will become relics and I think many of the later 5th gens will have strong price retention

 

[Humble Leader]

Not if they undervalued the trade-in. It's a numbers game...

they will always undervalue the trade / have a wider spread on the trade in to new vehicle than what prices suggest. You only pay tax (at least in Canada) on the difference between the two vehicles so you're still ahead even if you trade in at less than market because you're not paying tax on the trade in value

 

[Nick B]

Not if they undervalued the trade-in. It's a numbers game...

Yep. I’m on my 25th vehicle and 21 of them were new . But I do love haggling with the salesman and sales manager and calling them out on their tactics.

 

[OSSGuy]

so you're still ahead even if you trade in at less than market because you're not paying tax on the trade in value

That's only true if you save more on taxes than you lose to the dealership.

 

[thatoneguy]

That's only true if you save more on taxes than you lose to the dealership.

Which is very possible when you're in a state that taxes new vehicles at like 8% without a trade in.

For example, say in 2027 I try to trade me 2023 in for a new 4Runner. Let's say my 4Runner is worth $40k private party at the time and the new one is $50k, and the dealer is offering me a $37k trade in. Paying sales tax on $13k (50k - 37k = 13k) vs 50k saves me... $3,000, and the hassle of dealing with private party sales, which generally get harder as the price of the vehicle goes up.

People just show up with cash for a $5-10k vehicle, when they're looking at a $30k+ vehicle, outside of a dealership, there's less of them, and they tend to want to take it to their mechanics and look over every last thing and try to beat you down.

So in some areas there really is a point. Now, if the dealer is absolutely lowballing a trade, which I wouldn't envision on a 4Runner, that's a different story. The question is, how much money is it worth to invite the hassle of selling a vehicle private party? For me, I'd have to profit at least $1,000 above what I would lose in dealer trade minus tax savings... probably more like $2,000 though.

 

[OSSGuy]

Which is very possible when you're in a state that taxes new vehicles at like 8% without a trade in.

Yep, agreed. I'm not saying it's not possible, but it depends on many factors, including taxes, trade-in value, sales price, etc.

My point is that the dealer can offer an unrealistically low sales price and still make money if they under-value the trade-in. That's it...

 

[Wildbill45]

I recently purchased a 2024 4Runner off road premium and was able to get 3800 off sticker. I had been looking for a few weeks and was finding that most of the dealers would not come down much from MSRP. One dealer told me they might be able to knock a few hundred off the price but not much more than that. Guess I lucked out!

 

[thatoneguy]

Yep, agreed. I'm not saying it's not possible, but it depends on many factors, including taxes, trade-in value, sales price, etc.

My point is that the dealer can offer an unrealistically low sales price and still make money if they under-value the trade-in. That's it...

Absolutely. Dealers tend to hate me, because I care about the cost of each individual item and the total deal price, and I do not care what the monthly payment works out to be. "What kind of monthly payment are you looking for" is the kind of question that departs you from too much of your money, stretching your financing from 48 to 84 months with the TrueCoat protection package. When my latest salesman asked, I think my verbatim answer was "whatever MSRP plus doc fee plus TTL minus down payment financed at my banks rate for 60 months works out to be".

 

[thatoneguy]

I recently purchased a 2024 4Runner off road premium and was able to get 3800 off sticker. I had been looking for a few weeks and was finding that most of the dealers would not come down much from MSRP. One dealer told me they might be able to knock a few hundred off the price but not much more than that. Guess I lucked out!

Frankly, I'm envious. I sort of bought a 2023 last April at the wrong time. They got a price increase that May, but then deals below MSRP started happening. Generally, anybody is paying less for a comparable 2024 than I paid for my 2023! Damn!

Frankly I was just too sick of driving a '99 with a wonky HVAC system. I'll be more patient next time around.

 

[Krup235]

Happened to be out and about when I found a 2024 PRO coming off the truck. Wasn't an order and paid MSRP with $500 off for mil.

 

[///AIRDAM]

Happened to be out and about when I found a 2024 PRO coming off the truck. Wasn't an order and paid MSRP with $500 off for mil.

lucky you, most of the PRO are still well over sticker
The lots are filling up fast though, with these interest rates people are not buying, plus everyone is honestly broke so they cant afford new cars right now. This has led to every lot i pass starting to fill up, some at their highest capacity since the dealer was built. I am talking pre-2019 inventory. Seems they are getting to capacity quick with people being scared to buy. This is why prices are coming down i believe they are trying to move inventory.
Local dealer got a lime green PRO back in September 2023, they got it a few weeks before i got our white TRD Sport the first week of October 2023. I saw that green PRO still sitting there today when i passed by. Thats 6+ months on the lot, and i suspect they are likely going to still ask MSRP but maybe not. That lime green color is a love it-or hate it kinda color. Guess nobody in town has wanted it bad enough to scoop it up.