Last post on Sep 23, 2013 at 2:35 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Toyota Tundra, Truck
#559 of 838 Re: Tundra May Rebates [ocautoseeker]
May 08, 2008 (7:07 am)
Thanks for the intel. Turns out that yesterday, the truck arrived. It was ordered in late December and arrived on May 7. Just over 5 months, but I expected it as I had ordered a Sequoia back in 2004 and it took about 5 months to arrive that time as well.
Turns out that I did find, through the dealer's site, that the incentives for the truck in my area are $3,000 OR $1,000 and 0% for 60 mo. The wife and I have committed to never finance a vehicle, but I considered that on roughly $44,000 (including the absorbative IL sales tax and vehicle licensing charges), I could not afford not to use their money for this purchase. Edmunds Rebate or Low Finance calculator/decision assistor, was a real help with this ( http://www.edmunds.com/apps/calc/CalculatorController ) . I used my mortgage rate (because I have a mortgage) less the benefit of tax deductability as the base rate on my money if I financed the deal.
Turns out that the $2,000 difference in the rebate makes buying the truck with cash only viable if my cost of financing is less than 2% or the amount financed is less than $20,000. All of this surprised me, as in the past, I have always found that the incentive offers made the decision more difficult -- the offers were closer to a wash or actually incentised the buyer to pay cash if he could. The current rebate/financing offers on the Tundra don't appear to have been calculated based on the typical cost of the truck.
Nevertheless, we bought the truck for $800 over invoice. I had another offer from a dealership that we had dealt with in the past for straight invoice, but the girl that was assigned to assist me with the order (take the order) could never seem to get it correct. The guy that I finally dealt with took the order, took a credit card over the phone for the $200 to secure the deal, and I never spoke to him again until the truck was delivered. We were in the dealersip for an hour signing the paperwork (with two 7 year olds) and home in time for bed.
I documented this process in 2004 when I bought the Sequoia, but when I read on these forums about the dickering and trouble with the dealerships when dealing with salesmen on the sales floor, it makes me cringe. I cannot recommend enough the value of the Edmunds article "Confessions of a Car Salesman" ( http://www.edmunds.com/advice/buying/articles/42962/article.html ). The point is that there are dealerships that recognize that there are folks out there that buy vehicles based on other than emotional reasons (Specificaitons, comfort, previous experience with reliability, etc.) and have setup a sales channel for them. It is usually called the fleet or internet sales channel. You send these guys an email (directly from Edmunds.com if you wish) and they give you a quote. It is usually their lowest price (invoice or some price referenced against invoice). You accept it, order the vehicle, put a couple hundred down on a credit card over the phone, and they call you when the vehicle arrives. You print out your Edmunds price report with all of the invoice numbers, understand the advertising fee that is part of the cost but not on the Edmunds report, and take it with you when you pick up the vehicle. When you look at the cost on the dealer's price sheet, you simply compare it to your Edmunds report and ask questions. My experience is that these guys explain or make adjustments per your agreement and you are out of the dealership with the car you ordered in record time with absolutely no crap -- your agreement was based on the invoice after all, no discussion regarding MSRP or dealer installed options or adders.
I am happy after last night's experience. For those of you in the Chicagoland area, the dealership I dealt with was David Bruce Toyota in Bourbonais. Continental Toyota in Countryside also has a fleet/internet sales channel that works well, but I have found that unless you initiate the transaction through the internet/fleet channel, you wind up having to deal with a sales floor salesman. The deal gets complicated with the typical crap (you may have to insult the salesman by asking to speak to the internet/fleet sales manager).
Thanks again Edmunds.
#560 of 838 Re: Tundra May Rebates [katzat]
May 08, 2008 (3:00 pm)
ok I have been reading and trying to remember as much as I can before making my deal. I am getting a '08 Tundra 4x4, CrewMax, SR5, TRD
P4 vechicle shield package
Skid Plate enhancment
for $31,989.65 before TT&L. but does include the $4000 off
So be honest did I do okay or not really? It won't be here until the 20th so still time to change my mind if I choose to.
What got me was the TT&L. He figured them for me and that came to $7264.50 extra. I have asked for him to email me a break down on this cost. But man that seems a little high. Is it just me or what?
By the way I live in Lafourche Parish , Louisiana.
Any help and advice is very welcomed. Thank you.
#561 of 838 Re: Tundra May Rebates [outlawsix]
May 08, 2008 (3:20 pm)
[ ] true story
[X] leaving out a lot of details
[X] makes deal and then asks if it is a "good deal"
[ ] tax and fees is usually 20% of the cost of the vehicle
#562 of 838 what other details are wanted?
May 08, 2008 (6:47 pm)
Trying not to get the screws put to me on this one. Hence why i have asked for an accountability of where these fees are coming from. taxes $3000 at the most. so where is the rest coming from? I will find out and if it is what I think it is, tacking stuff on the rear they can keep it. No way am I going to negotiate for a good deal only to haev them try to slip it to me in the backside.
As I said truck isn't in yet. Only thing that was done was agreed upon a price and put down $300 to hold it for me. Thought I was doing great till he mentioned the total with TT&L. what gives?
May 08, 2008 (8:43 pm)
correction to above agreed upon price is $31689.65.
#564 of 838 Re: what other details are wanted? [outlawsix]
May 08, 2008 (11:37 pm)
What's the total MSRP of the vehicle? What is you sales tax rate? Has to be a typo!?!?
May 09, 2008 (4:42 am)
TotalcMSRP $38,486, 8.5% tax rate. Sure as heck hopeing it's a typo.
#566 of 838 Re: Tundra May Rebates [outlawsix]
May 09, 2008 (10:28 am)
I live in Illinois where we have a pretty stiff sales tax and licensing charges, and my TTL was less than $3,000.
You should look at the new car pricing on this site and select the base model and options you want. You should be able to get the truck for Invoice. Just remember that there will be some additional charge on the dealer's invoice usually called the advertising fee. For my truck on Wednesday in IL, that was something like $550.
Once you have the invoice amount, the incentives come off of that. Its majic.
I couldn't help but notice what appears to be non-standard options in your list. You should consider if you really want these. If the salesman squawks, I would suspect you are being jaked. You may want to consider pricing the vehicle out as I describe above and request Internet quotes. This bypasses the floor salesman. I wouldn't do it any other way.
May 09, 2008 (3:19 pm)
he had made a typo when sending me the email. We agreed on $31,689.50 before TT&L. With TT&L came out to $34,604.26. I feel a lot better now. Now just to wait until the 20th and pick up my new toy and burn some gas.
May 09, 2008 (4:14 pm)
I figured as such...
Congrats on the new truck!