Should I buy this Demo?

[Good Times]

the easiest way to do it is goto edmunds and get their tmv price. print out the TMV price along w/ the options that you want and goto the dealer and say beat this price!!!

The TMV price is norm for what everyone is payin across the board so it won't be dipping that much into their pockets but will help you keep the price down. If they can't beat it, go elsewhere. Just make sure that it has all the options you want so they can't say otherwise.

btw on the apr, it sounds pretty high (9%?). Shouldn't it be close to 5%? ELoan is pretty good btw. I use them and it they beat my CU like ALOT (and I was surprised...) I tried to have the CU match eloan's rates but they couldn't. Worth a shot

Good luck

 

[MAC4Runner]

Oh well, because of my credit, I just got offered a 9.1% (because of my credit) finance rate from an online loan offer....

Not to be a jerk, but anyone with credit bad enough to only qualify for a 9.1% APR in today's market shouldn't be considering a new 4Runner let alone a limited.

YMMV

 

[pdonnell]

MSRP on my V8 Limited was $43100. Negotiated Invoice price of $37900 plus tax & reg. total came out to $41300.
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Of which I borrowed $41300 for 7 years at 3.99% simple interest. $563/mos.
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Prolly have it paid off within 3-4 years with overtime so with the low APR why have a higher payment with shorter term with it being paid off so soon? Works for me.
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To each is own.

 

[NoDak]

mac4runner, you shouldnt be so harsh. not all bad credit is due to mis-management of one's finances. i have seen very good credit people get totally wiped out by id theft, divorce, family illness and whatnot and take years or decades to get back out of a hole, as i can attest to when my father had his 1st and 2nd stroke then eventually death. i dont have stellar credit anymore due to it, but i would do it again without blinking an eye.

it all comes down to this, apr is a nice word and number to throw around, but in the end, its the payments/duration that you can afford to live with (and yes apr helps lower your payments). if he can live with it, then thats all that matters.

so pkerner, utimately, you have to run the numbers, figure out your long/short term goals and decide if you and your family can live with the payments and duration. thats all that matters.

edit: but i still stand by the fact its a demo and treat the vehicle as such, you have no idea what has been done to it and who has driven it, irregardless of what is said.

 

[EDGE]

1st off how in the world are you coming up with an invoice or 33k for a vehicle with an MSRP of over 40k, my trucks invoice was 40k about, MSRP was 43k their is something your not doing right or your looking at SR5 invoices

2nd your buying the truck put down 20k in cash and their you go, the finance company sees it as a 20k car now

 

[srbigbutt]

Invoice price is usually around $5,000 or so less than MSRP depending on what packages you get.

 

[pdonnell]

On my '04 4x4 V8 MSRP is $42178. Has the DVD, Moonroof, Airbags, Spoiler,Floor mats/cargo and alloy wheel locks. Missing is the XREAUS, Daytime Running Lights and 3rd row seat.
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Invoice is $37991 and includes $540 delivery and TDA (advertising?) of $648. Kelley Blue book shows a slightly lower Invoice but doesn't address TDA.
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Difference between MSRP and Invoice in this case is $4178.00.
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NO WAY YOU CAN HAVE AN INVOICE BE AS LOW AS 33K WITH A MSRP OF OVER 40K. Sorry.
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Have to agree with regards with bad credit. Having been a banker for 14 years there are people out there through lifes curveballs and castastrophies/emergencies experience credit problems. They are few in numbers but there are some. Most folks just are plain stupid/irresponsible/don't care and therefore deserve what they have coming. FICO is a good thing for these people.

 

[MAC4Runner]

Like I stated in my original post, no disrespect was intended. :angel: However I still feel someone with a bad credit rating, REGARDLESS of how they got it, should not be looking at a NEW car let alone a 4Runner Limited. Unfortunately people have the ill conceived notion that you are what you drive, which is the very reason the 7 year lease was the most popular method of financing a new car purchase in 2003. That said, not all decisions are rationale, nor should they be.......

Have to agree with regards with bad credit. Having been a banker for 14 years there are people out there through lifes curveballs and castastrophies/emergencies experience credit problems. They are few in numbers but there are some. Most folks just are plain stupid/irresponsible/don't care and therefore deserve what they have coming.

Sad but true................

 

[Biff]

Re: I haggled based on payments

We actually discussed in terms of payments, rathrer then the lowest MSRP price.

Kelley BB says (they can only assess a 2003), 28K

and Edmunds (they can't assess a 2004 either), 35K

How can I verify if the manager's wife really was the one who drove it around?

I also have bad credit, and would have difficulty getting a outside loan.

Never haggle based on payment. My wife did that once without me and got ripped off. Get the total out the door price first and then go with the loan.

 

[NoDak]

i guess i wasnt more clear.

i haggle the lowest price first, then i shop around for loans based on what lowest payment per month i can get.

sometimes i haggle lowest payment first then shop around and try and find a vehicle that fits the loan.

ie: i used a well know eloan company (they are also a very large credit company) and they gave me a blank check and i only used up to the amount that equaled the payment per month i could live with.

i was approved for 43.5k but i only used 33k and my cutoff was at 32.4k

i only went over my cutoff by a little but it only raised my payment per month by a smidge, but then again i also pay about $40 extra each payment anyway.

edit: above all else, get simple interest loans. anything else and its a ripoff and money out of your pocket into someone else and does not help your loan.

 

[AsianPersuasion]

On my test drive, my brother and I beat the piss out of the test truck for half the night!!! My brother works for Toyota so we had unlimited drive time. I wanted to see everything (on road at least) the thing could do. Loved the truck...then asked for one fresh into the country. It took 3 weeks to get but she only had 9 miles when I picked her up. Demos can save you money up front, but it's like the slut from the neighborhood. You really don't know how many people had their way with her...

 

[EDGE]

The demo I test drove had 1 mile on it, after I gave it back it had 9 miles on it, guess the new owner who bought it thought he was getting a new never driven vehicle

If all you did was drive it hard you probably just broke the engine in: oh and dude you should not really talk about girls like that, many of them settle down and have familes and guys are no different