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Prices Paid: Buying & Leasing Experiences Toyota Sequoia Prices Paid and Buying Experience
1307 messages, Last post on Aug 21, 2008 at 6:59 PM
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Replying to: trebor129 (Jan 11, 2008 8:34 pm) The SUV Tax Write-off Rules Broke New Ground Internal Revenue Service Code Section l79 lets a business write off the purchase price of equipment the first year (up to a total of $105,000). This code section eliminates the delay of depreciating assets over a number of years. Passenger cars aren't eligible for the equipment tax deduction. But trucks and SUVs are. However, there was a $25,000 ceiling for trucks or SUVs, limiting how much could be written off the first year. A loophole in the $350-billion stimulus plan passed in 2003 removed the $25,000 ceiling for SUVs. The large SUVS (over 6,000 pounds GVWR) were considered trucks, not passenger vehicles. The amount expensed the first year grew from a maximum of $25,000 to the full $105,000 in 2005. Suddenly, being able to write the full purchase price off immediately made the larger SUV a more attractive purchase. They gained an edge over regular automobiles and smaller SUVs subject to customary depreciation or the $25,000 ceiling. Clever businesses owners (and auto dealers) rushed to take advantage of the loophole. It fueled SUV sales and distorted the auto market. Then Congress started to feel pressured for passing a poorly-thought-out law that rewards people for buying more car than they need and encourages gas guzzlers. Congress passed another law that went into effect October 23, 2004, that rolled back the SUV deduction from the $105,000 in 2005 to $25,000. Unless a vehicle was placed in service before that date, the higher figure didn't apply. Congress may feel that they fixed this deduction, but there's been a lot of lingering confusion and mixed messages. One point that must be considered is the fact that depreciation deductions for these heavy SUVs will always be greater than depreciation deductions for regular cars or the smaller SUVs. For example, if a Realtor were to purchase a $47,000 Escalade and use it 100% for business, the entire $47,000 would be deductible over the life of the vehicle. And $25,000 of that would be deductible during the first year. Compare that to the purchase of a $47,000 regular car, and the maximum depreciation deduction over the first five years of business use equals $15,000 to $16,000. In effect, all Congress has done is to decrease the first-year write-off of these large SUVs
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Replying to: gagrice (Jan 13, 2008 6:15 pm) |
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I'm at the end of my lease with my current vehicle. Two of the SUV's on my hotlist are the Sequoia and the Denali. Has anyone driven both? How did they compare? I spent a couple hours in a Denali over the weekend and it was a pretty solid vehicle with all the toys. My local Toyota dealer does not have a Sequoia on the lot, but will soon. I'm curious as to how they will stack up both in driving experience and pricing. Any thoughts? Ken |
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Replying to: hanoverken (Jan 14, 2008 8:09 pm) 3rd folds into floor - Sequoia, Denali's heavy 3rd row has to be lifted out of vehicle The prices are comparable between the Denali XL and high end Sequoia. It should have been an easy call, however after owning 4 Suburbans over 20+years it was a challenge to walk away from GM. Maybe they'll wake up and catch upto Toyota in the future.
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Replying to: hanoverken (Jan 14, 2008 8:09 pm)
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Replying to: hdfatboy (Jan 14, 2008 8:54 pm) It's amazing that GM has not figured out how to fold flat the 2nd and 3rd rows. Can you tell me what you paid for the vehicle? As it's quite new and supply is limited I'm curious how much dealers are will to negotiate. GM dealer's are letting Denali's go for well under invoice. Thanks, Ken
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Replying to: rtribble (Jan 15, 2008 6:01 am) Can you tell me how much you paid for your vehicle and how it was outfitted? Thanks! Ken
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Replying to: hanoverken (Jan 14, 2008 8:09 pm) The dealbreaker on all of the GM SUVs is the failure of their 3rd row to fold flat. If that is not an issue to you, then you may lean more towards the Denali. But it was a fatal flaw to us. Otherwise, we have been bringing home the Escalade b.c both my wife and I loved the exterior on it (love the white diamond pearl paint) and we felt like it drove nicely as well. Good luck and let us know what you get! |
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Replying to: hanoverken (Jan 15, 2008 12:50 pm) "Can you tell me what you paid for the vehicle? As it's quite new and supply is limited I'm curious how much dealers are will to negotiate." Here's the background on the '08 Black/Red Rock Platinum Sequoia I purchased in late Dec. It is scheduled for delivery in early to late Feb. I hope you find this info helpful. I sent out a simple email to about 25 dealers within 50 miles of my home using email addresses available at this link http://answers.google.com/answers/threadview?id=217901 . My email stated I was looking to buy a Platinum Sequoia. No financing. No trade-in. I did not give out my name or contact information in the initial communication. About half the dealerships didn't reply. Most just wanted me to call or visit them. Some offerred a new Sequoia at MSRP. 2 offered a new Sequoia at $2000 off MSRP. 1 dealer offerred a Platinum at $1500 over Factory invoice. 1 offerred to sell a plat to me for $1000 over factory invoice. Both of these last 2 offers were in writing (email) without me having to provide any information about myself. I contacted the dealership where I bought my last Avalon to provide them with a chance to sell me a new Sequoia. I even visited them to talk with my previous salesman. I told them I had a $1K over invoice offer and asked if there was anything they could do for me. After the salesman discussed it with the manager, they called me back to tell me that they did not believe any dealers were offerring '08 Sequoia's at $1K over invoice. I assured them I wasn't lying and they suggested I follow-up with them if it didn't work out. I said thank you. I contacted the dealer that offered a new '08 Plat Seq at $1K over factory invoice. The Internet Mgr assigned me to a sales rep and I met with them just before Christmas to write-up a contract for my new Plat Sequoia (7933). My contract is for a 2008 Black (202) Platinum Sequoia with a Red Rock interior (21) plus the following options I wanted: Rear Entertainment - EY Cold Kit - CK DRL On/Off - RL Preferred Accessories Package (carpeted mats, cargo mat, door sill protector, cargo net, first aid kit) - Z1 Wheel Locks - WL The factory invoice for this vehicle in the NE Region included Destination charge, TDA, gas, dealer holdback and financial reserve was $52,418. The contracted price was $1000 over this factory invoice price ($53,418). The final price for this Platinum Sequoia was $5126 under MSRP or .912 of MSRP. MSRP was $58634. I was able to get this price without ever having to leave my house. No PITA follow-up calls from dealers, no spending multiple weekends shopping a price. Just a good fair deal with little effort. The out-the-door price included the following in addition to the vehicle cost above: NJ sales tax - 7% NJ tire tax (5x$1.50) - $7.50 (Is there anything NJ doesn't tax?) On-line registration fee - $8.30 NJ Title and 4 yr registration - $334 clerical expense and document fees - $145 For a total out-the-door price of $57,676.06. I specifically asked the dealer if he was OK sharing this information with all of you on this forum. The internet mgr. said it was absolutely OK and that he would welcome the opportunity to offer this same deal for any of you interested in an "internet sale" at this dealership located in Northern NJ. I have no personal interest in this dealership and did not know the Net Mgr before the evening I signed the contract. I found both the Net Mgr and Salesman to be both competent and professional. The Net Mgr is Ron and my salesman was - Andrew. Very good guys that made the entire process an enjoyable experience. I hope those of you on this forum that are interested in a Sequoia consider Ron as an option if you are in the market for a new Sequoia. Here's Ron's email address: rbailey  caldwelltoyota.com
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Replying to: hdfatboy (Jan 15, 2008 3:32 pm) I'm still a bit confused by the Platinum/Limited thing. It seems that you can load up a Limited with virtually all the Platinum options and end up $4k less. I added in the sunroof, nav, 2nd row captain's seating, power gate, 20 inch wheels, cold weather package, spoiler - everything but the running lights and rear air suspension. Am I missing something between the packages other than the fact that the Platinum's front seats are heated AND cooled? Unlike a regular Yukon and a Denali there's no difference in exterior or engine - unless I missed something. Ultimately it will be the drive that will decide. And perhaps pricing - I have read on a similar Denali forum that some dealers have let Denali's go for $1500 under invoice - probably due to incentives from GM. Hard to walk away from that if everything else is close. The third row thing is a buzzkill for me, but not a dealbreaker. They are not that hard to remove - my wife had a '99 Suburban and that 3rd row was big and heavy. Now they are split 60/40 and weigh a lot less. Still, a dumb move by GM after all the improvements that they have made in the model. I'm sure I'll be back with more questions after the drive. Thanks! Ken PS - will definately contact your guy in NJ. Hope I don't have to pay all those taxes - we pay enough in MA as it is! |
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