Looks like trade in values are down quite a bit

Its not just trade ins. Dealers are taking lease turns in right now either. Lots are too full and cars aren't selling. So there value after lease equation is all messed up. I hope things bounce back by next June when my lease is up
https://www.caranddriver.com/news/a32289818/car-lease-returns-problems/

 

Believe me, it was a bigger pain buying a new vehicle with all the rappers i had to sign. Selling my old tundra was a 10 minute piece of cake.

 

I just looked and the value of my old Jeep dropped over $400 in the last month. Surely it's because no one is buying used cars. I heard the stock of used is piling up since Covid-19. People are not shopping, not going out. Usually this time of the year March to late May is when people that buy used cars cash are looking with newly acquired tax return money. This year many are probably using it for bills and food if they are out of work. A newer used car isn't isn't something they can do. The market may adjust if the economy comes back soon.

 

You'd be surprised what they don't notice. I had new wheels and tires installed and some bed bars. She still hasn't noticed and it's been almost 2 months

 

Your account of the transaction sounds very civilized. Of course it does not always go that way. One of the first things that car sales people are taught is that very few customers who walk out the door ever walk back in to buy a vehicle. So dealerships do EVERYTHING they can to keep you there. That is why they have often have food for free on Saturday, or they try so hard to get a deposit, or why they do not give you back the keys to your trade in right away. They feed you on busy days because they do not want you to leave because you are hungry. How civilized you are treated depends on the people you deal with. In another lifetime I sold Toyotas for about a year and a half. What was the most important lesson taught about determining when a customer is getting a good deal? A customer is getting a good deal when they think they are getting a good deal. For some customers that will happen when they are $1000 below cost of the vehicle for the dealer, or thousands of dollars over cost for the vehicle. I witnessed customers who were much happier and they paid full price than someone who bought their vehicle at cost. Buying a vehicle is typically not all that pleasant. And of course the more horrible the experience the more likely you will hear about it.

 

I posted on how I deal with purchasing a new vehicle. I don't let emotions drive my decision. My last vehicle I did walk about because we were $1000 apart in numbers. I did get a phone call on my cell before I got to the house. They asked if I would purchase if I came up $100 dollars from my offer. So they came down $900. I was not going to sweat over 100.

From my experience one needs to go into a dealership knowing the numbers and not play into the salesperson game. I am honest and up front with them. I don't play the payment game. The last time I was in a dealership for service a sales person told me they could get me into a new vehicle for less payments than I have now. I asked him how much was he going to be paying me a month? The only way to lower my payment is for them to give me money. I have no payments.

 

This is what happens every time I've tried to sell a vehicle private party. I don't even bother anymore. Id rather not deal with people.

 

You have outlined the basic approach I usually encourage people to follow to minimize stress and minimize how much you pay. Today there is no reason 85-95 percent of a deal cannot be worked out via email, or even text. I only talked to the dealer when I bought my Tacoma after I had negotiated to within $500 of where I wanted to be. I never spoke to my sales person until I went to pick up the truck. I dealt with the internet division of the dealership before that.

 

Dealer where i bought my tacoma wasn't entirely like that, not pushy at all when first speaking to them on the phone. They didn't require a deposit either when i agree on the final sale. They were very pushy especially to take the toyota care long term service warranty plan. All they required was my insurance, and registration be faxed to them, and it was ok to bring a personal check for the total amount upon delivery. They had a folder of paperwork for me to sign once i arrive there.

 

That's pretty accurate in my experience but with me Ive never had them ask for a deposit but they will write those number down and ask for a signature before taking it to the sales manager.

 

I had no real intention of negotiating. The thing is the same dealership charged me $4k for a 100,000 mile 6 year warranty for my Tacoma. So I made an offer just for the heck of it. If they said yes great if not I will call them again around August if it is still sitting there and make the same offer. I won’t ever buy an extended warranty again. It’s just free money for them. I do really enjoy my manual Tacoma but I don’t find the seats comfortable and feel to close to the floor. Hopefully the new Tundras come with a nice upgraded interior. I really love the interior of the Tacoma.

 

If that 53K price is before you negotiate and its new, I would almost bet you can get it for 43K, you can almost always take a Ram price tag and deduct 10K off the top just for starters. At least that has been my experience buying Rams.

 

If I was in the need/want position right now I would sit tight. Nobody has a clue what 6 months/1year from now will be like.

 

I just happen to run mine on Kelly Bluebook this past weekend. Hi trade in $34,000. I'm $12,000 ahead of the game as of right now.

 

Yea i really want to get a 4runner and trade in my wife's car but trade in values are low / below market. Can't win with these weasels

 

Very true gdp decreased 4.5% not a chance this recovers by August. And we got second wave coming? More lock downs in the fall? Its screwed

 

Unless OP already bought it - it's no longer on the dealer's site as far as I can tell. That said, if I remember right, sticker was closer to 60k. $10k off the top isn't necessarily a good rule of thumb for Fords/Rams (at least not in the last 3-5 years); it's closer to 10-15% off of MSRP unless you're buying a prior Model Year, heavy end of year discounts or happen to qualify for every incentive, in which case it can be closer to 20%. GM on the other hand seems like they want to pay you.

OA

 

When you sell privately rather than trade in you do lose the few hundred bucks in sales tax you would have saved otherwise. It’s also a pain in the ass, plus you have no control over the timeline.

 

FYI - it looks like they are starting incentives at least in some areas.

https://www.tacomaworld.com/threads/toyota-financing.664079/

 

Dude that's the current incentive. 0% on 60 months.