Invoice pricing

I’m looking at trading in my 23 limited with 14k miles for a 23 platinum brand new. The dealership are supposedly giving me the platinum for under invoice at 61.5k before taxes and what not. Is that a good price or should try to negotiate a little more?

I love my limited, but with current Toyota financing offers it makes sense to consider it.

 

Which financing offers are you referring to?

 

1.99% for 48 months

 

Between taxes, loss on the trade, registration, dealer fees, etc...is it not smarter to pay off the truck you have faster?

 

Were only getting partial info here. How much are you netting on the trade? Is the Platinum a hybrid? 2wd? 4wd? 6.5 bed? What package(s)?

 

52k on trade. Both non hybrid. 4wd 5.5ft bed. Due to my current rate it would equal out to be about the same cost, but I get a nicer truck without 14k miles.

 

Same cost per month or same cost total price?

Forget the payments for a minute, what is the total price of your truck, the amount you’ve paid off, the amount you have left, the total trade in, and the total price of the new truck. After those numbers consider interest rates and costs after interest.

How many years would it set back your payoff date? Etc.

 

youre getting 52k or netting 52k?

 

I’ll pile on… what is invoice if that is under invoice and what is sticker msrp?

 

52 for the trade in. I just bought the thing 6ish months ago. So I’m really losing 6 months of payments. But I only paid 54 for it. It would actually speed up my payoff by a year.

 

61xxx is “under” invoice. Msrp is 68xxx

 

Getting 52K doesnt tell us if youre netting 52K. Is the truck paid off?

 

52k is going towards the payoff

 

If your payments would be the same size and paid off a year sooner go for it. Sounds like a win-win. Lower interest being greater than your loss makes the math make sense.

 

And how much of that 52K is making it to the new loan?

 

If payments are equal and payoff is sooner it’s costing less overall total.

 

Payment would go up slightly due to the shorter term, but overall if I did the math correctly I would save 3-4K from interest.

 

I really just made this post to see if invoice price was rock bottom or if their was still room to negotiate further.

 

Miss 100% the opportunities you don't take but $7k off MSRP is decent but you will never know if you could have got more if you don't ask. Sounds like you're more asking should I just settle for what they offered? If you want to negotiate then negotiate and you might do better or you might not.

 

It never hurts to get up and start walking out ha. Give them the one last man, we were so close, if you’d just do “x” we’d be at a reasonable place, oh well…. They’re making money or making more money either way, only way to know if they’ll go lower is make them think they’re about to lose the sale over a small budge.

 

gotcha OP, everyone here is trying to help with their opinion, 1.99 for 48 is way better than probably 6.99 from 6 months ago...reality is a good deal is a good deal in YOUR eyes. Dealers can sell at whatever price they choose. With $1000 customer cash on non-hybrids and $1500 on hybrids, safe to assume dealer has a matching cash incentive. Ask for another $2000 and be prepared to walk and get a call back imho...enjoy the process!

 

I doubt they'd move much from that price. They know that truck will still sell in a day or two. Also depends on what they will turn around and flip your truck for.

 

10-11% off sticker is pretty good.


EDIT- it’s a 2023? 24’s have been out since fall. 11% not so good.

 

Do you have sales tax? Worth considering losing that amount again

 

The way I would look at this is what would be my final end cost under each scenario. I have never financed and couldn't imagine my dealer offering me a brand newer higher end model at par or giving me cash back on my trade in.

Even if it did cost me more how much depreciation would 14K miles usage be worth to me as well as the increased features the newer higher end model offers?

 

Unfortunately we do. Part of the game I reckon. But regardless factored in to my decision

 

Are you upside down or right side up? Or you taking up the you know what or are you on top ?

 

Why not just boost the monthly payment up to pay the current truck off quicker? Yea interest sucks but at the end of the day if you can swing it just double the payments and bam, loan is done way sooner than expected. 61k is solid for a platinum though not sure if they would go much lower than that. At the end of the day it’s your money and if you can swing the additional payment don’t let a bunch of people tell you how to spend it. Just make sure to not be part of the society that has a mortgage payment for a car payment.

 

OP didn't mention his loan balance but also said payments would be about the same so probably not apples to apples comparison here but. 45k loan at 5 years and 6.99% vs 55k loan at the current 1.99% at 4 years you pay more interest in the first year than the entire 4 year loan. Assuming there isn't a bloodbath on taxes (which the OP won't pay taxes on the trade in value, so only looking at about 9k in taxable in the transaction) and the trade in loss isn't too bad then it could actually make sense solely just for the opportunity cost for your money to do something else because 1.99% is almost free money. Likely be taking a little kick to the nuts but hey it could make sense maybe, but also the OP has already paid a decent amount of interest in the payments already made.

 

They might be embellishing the invoice price a bit or maybe not with options.

https://www.edmunds.com/toyota/tundra/2023/msrp/