2018 SR5 DCSB 4x4 - Help me choose on payment options please

Hi guys, I'm this close to buying my first ever pick-up truck! A Tacoma, for the most obvious reasons.

I'm buying it through Costco and is a 2018 Toyota Tacoma SR5 Double Cab 4x4 trim. There's no additional options except for an all weather liner valued at 220+ dollars. No stepboards, no technology package etc.

I took a screenshot of what the designated dealer provided in so far as payments are concerned.

I'm eyeing a cash down of 3,000 with a 72 month 2.9% payment and the dealer representative mentioned he can lock it down to USD 537/month. He also mentioned that there's no penalty fee if I pay more monthly and if I pay the truck much earlier.

The 3,000 with a 60 month 1.9% payment is a little bit out of my league in terms of monthly but may come to a compromise.

I'm poor in math but I'm thinking it's not a lot of difference between 1.9% and 2.9% right over the course of the payment when it reaches 0?

My ask is if this is a fair deal for the trim's specifications and whatever thoughts you guys may have, will be deeply appreciated. Thank you and looking forward to posting more updates!

 

I’d swing for the 60 month if you could. If you don’t feel comfortable, you could always take the 72 and pay it off early.

 

37k is a little steep for an SR5. As for the payments, pick a plan you can for sure pay every month.

 

total price in interest with 1.9% for 60 months is $39,044 that's $1,685 in interest over 60 months. $601 a month payment
total price after 72 months at 2.9% is 40,476 that's about $3,117 in interest over 72 months. $521 a month payment

yes I took $37,359 - $3,000 to do my calculations, then I added back in the $3,000 deposit to show you total you'll have paid into this truck.

Damn, I got my mom a fully loaded TRD OR 4x4 with premium and tech. so leather, jbl, and sunroof for 37,800 OTD. crazy what states and stuff like that can do to taxes I guess. anyways I'd say email several dealers before jumping on one. Some dealers may be able to even beat costco pricing.

 

by the time youre done paying for it, you'll end up paying about twice as much interest because not only are you adding a percentage point but youre also paying another year of interest. probably a difference of, off the top of my head, $1800 in total? theres smarter people than me here however. also your budget is unique to you only.

as far as total price on the trim level of the truck, you might want to search the forum for the 'whats everyone paying for their ...' thread. off the top of my head i paid 36,400 (before taxes or anything) i think for my double cab long bed cement TRDOR. is that truck long or short bed?

heres that thread btw How much are you paying for your 2018 Tacoma?

 

If you are not in California then i would push for at least another 2k off the price (4K off msrp min). I got that on my 2018 the week they hit the lots in 2017 (DCLB SR5). BUT if you are in California then you probably won’t be able to do much better than that lol going off what I have seen on here at least.

 

That Doc fee is crazy. Is that normal for your state? Also, those interest rates are really good for right now when you consider interest rates have increased a lot this year. You can always do 72 months but pay like you did 60 months just in case something happens.

 

as this guy said, you should be getting them for invoice OTD.

My mom got her truck around April, idk if they've incurred a price increase since then. Anyways I was out of town and she loved my 17 while driving it so I went on the hunt for her best deal on an 18

I just built her truck on costcoauto and Invoice is 38,583 before TTL and fees, she got it for 37800 OTD.

you do not have to go to a dealer to get pricing, plenty of people want your money and honestly I hate dealing with people one on one face to face. email is best where you can be blunt or just ignore them if you disagree. plus going back and forth with dealers is much more streamlined and easy.

 

This is too much for an SR5. If this is the only place you have numbers from, and this is your first time buying a new vehicle, do not go forward until you have numbers for a similar vehicle from two other sources. Do not give them the numbers you already have, but feel free to let them know you are looking around and that you aren't buying on the same day.

Honestly, if it's this tight money wise, I would be talking to a credit union and looking at loan on an FJ or Wrangler in the 15-18K range.

The worst thing you can do in a situation like this is act on impulse.

 

Costco is a good starting point, but there is still margin in there that dealers who are not part of that program will beat. Just went through this a month ago, they’re discounting 2018s and I was able to achieve almost $1200 below the Costco deal. Is Toyota not doing the 1.9% incentive anymore?

 

Thats after all fees and taxes. I don't know if the fees are normal for his area, but look at the base price, which likely includes the destination charge. Thats not terrible, There's probably only another $1,000 wiggle rim he could negotiate if he shopped around.

 

I can't imagine paying on something for six years

 

True. OP should definitely try and renegotiate.

 

Since when has Toyota offered 1.9% on a Taco?

 

OP, for what it’s worth, I paid 31.9k (before tax & fees) with no incentives for my SR5 DCLB this time last month. Only accessories were mud guards and all weather liners.

It looks like you’re in Tennessee but I found multiple dealers in the northeast with SR5 DCLB trucks listed around 34k and even saw one in Boston at 31.7k, though their dealer fees were a bit high.

I would try to do some of your own leg work on the price now that you have the Costco estimate. You know your ceiling price, now go find your floor.

 

Not exactly sure what the time period was but I got it twice.. in the last two months. 1.9% 36 or 48 months and they had no problem stacking it on top of the cash incentive.

 

I got 1.9% on a left over 2017 in April of 2018. 0% for 60 months or 1.9% for 72. I chose the 72 and paying extra simply since I didn't have a car payment for the last 10 years or so. Wanted to keep the payment slightly lower if needed and I knew it would feel gross making a payment every month anyway. Cash on hand will return more in interest than I pay Toyota over the life of the loan also.

 

Come to lexington, I got my TRD Offroad 4x4 for cheaper than that.

 

When I bought my '14 I got a 1.9% interest rate.

 

Have a cousin that worked for a Toyota dealership. He said Toyota rarely if ever offers good interest for Taco. Lowest was maybe %3.75 I think last time I checked.