What are you paying for 2020 Tacomas?

Here in Central Texas, if you have excellent credit, Bank of America is at 2.6%, and most local banks range from 2.3% to 2.9%. As of today the official prime rate is 3.75% and the Fed funds rate is 0.05%. Lenders bundle their loans and sell them off, charging higher rates for those with lower credit scores and bundle them mixed with the better quality lower interest paper to achieve their desired mix. If you understand this, and have good credit you can push a lender and score great rates, thus the 2.29% at my Credit Union, or 2.6% at BofA, even though prime is at 3.75%. The fed funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis, it is at it's lowest rate since 2008. It is a very sophisticated business, and savvy finance managers in a large automobile dealership can really swing great deals and still make a few dollars if they need to move product. I learned this as an IT tech supporting Reynolds and Reynolds for a number of car dealerships back in the 90's. As many have said on this forum, there are also many internal incentives and rebates that we are not aware of that bring the so called "invoice price" much lower than listed on public sites such as KBB, etc. A dealership may lose a few bucks on an individual deal, but overall, will still make a margin of profit.

 

Yep, knew and understand all that, but that’s still good and helpful info for those here unaware / shopping currently.

 

I looked the VIN up on Toyota and it's a 4x4. That's a great deal. I thought I got a good deal too.

 

They lost on that truck or made up somewhere else. That deal is the best I’ve seen, impressive but an outlier for sure, I wouldn’t be the least bit discouraged, plus you got a loaded OR w/leds and that is a config most dealers are not gonna do stupid deals on.

 

Southern California.

TRD OR 4x4 AT Long Bed in Cement.

MSRP: $40,467
Sales Price: $36,661
Discount: $3,806
9.41% off
$41,150 OTD (CA taxes and fees, ouch)

Given the current inventory of the exact truck I wanted (this one) which is at this point almost none, I felt like I got a pretty good deal.

I took the 0% financing for this. Did everything over email - not a single phone call. Went in, signed the papers and drove away in my new truck. Now the adventure begins!

 

What city ?

 

Fremont

 

After you told me about your deal from there I went to their website to check out what they had. Turns out they had exactly what I wanted. Offered the price straight off the bat no negotiating and over email.

who was your salesman?

 

Thanks! I'm just happy to be one of the lucky ones who was able to get a deal done now that stock is becoming more limited. The salesman said he had multiple offers from people who drove by their dealer asking to buy my truck, with some willing to offer $5k over what I got it for.

I'm sure some (or all) of that is just dealer-speak to make sure I closed the deal, but based on what some people are seeing in this thread it could be true too.

My financing was $10k down in cash, $3k trade allowance, and roughly $21k financed 72 months @ 2.49% through my local credit union. I think the math works out better such that the 0% would have saved more, but I intend to pay this off earlier than 6 years so I wanted to take advantage of the $1,7500 rebate. No add ons, and it was actually a really easy process.

 

Yeah, the reality is these trucks are just getting expensive because of the amount of tech and features they're pumping into even the lower end models.

I don't have any convenience package on my SR5, but I do have 4x4, V6, all weather floor liners and will protectors, a chrome exhaust tip, and mud guards. I just built the same truck online on Tacoma's website and the MSRP comes to within $20 of what my truck stated, so yeah it's just expensive anymore even for an SR5.

 

Listen to this guy- he knows his stuff.

basically his predictions have shown true in our neck of the woods in Colorado and our extended areas up to 10 hours one way.. over the last three weeks I’ve driven my wife nuts talking to more dealers than I would care to admit within a 500 mile plus radius... Unfortunately even the big-time dealers I put against each other who always end up number one and number two in the region and have both withdrawn their offer of 12% off MSRP before rebate due to lack of available vehicles ...even with a friend at my local dealer who to be noted… Always charges way over MSRP… Can only get down to 10% with the rebatewithdrawn their offers of 12% off MSRP before rebate .Wife and I have excellent credit and all of our financing inquiries have come back mid to high 4%. With exception of using TacoBuffet’s strategy with credit unions ha ha I un knowingly applied for a space coast credit union loan in Florida not seeing the fine print that you actually had to be a resident there and was approved for their 1.89 for 84 month healthcare hero loan. When I found out that I wasn’t eligible I started calling credit unions asking them to match it And finally called Bank of America who has our current loan ....told them would be trading in the truck and was giving them the opportunity to match it. they told me all I could do was to apply to which we did and we got a rate in the 6% Ha! (Current rate 4.19%) I called them to let them know I applied and that must’ve showed them that I was serious because when I provided the Vin for the “used” 2019 with 3000 miles that the Chrysler dealer dropped 3,000 under their asking and paid us 2,000 more than we owe- they said they were submiting the offer to corporate to see if they could match —got us a rate 1% lower than their advertised “best rate” on a used vehicle at 2.8% For 66.

Will definitely use tacobuffet’s strategies from now— on only regret is that we didn’t jump on those initial offers last week - oh well had to work the hospital- but looks like we will be trading in our Tacoma today before our trade-in value follows the same suit and takes a dive and dealers lower our trade in value. to all that’s on the fence -if my research is of any help nobody is really negotiating anymore as many dealers that always have 150 Tacoma‘s are down to the 20s or less and these big-time dealers said they won’t get restocked until July truth or a bargaining manipulation? You decide.

 

Skip mini van and grab a 4Runner.

 

2020 trd sport white 2wd MSRP at 37565 discounted to 31944. Southeast US. Something to move on you think? Can’t take the 0% with this deal of course. What rates are others with tier 1 credit seeing?

 

I really like the LB, I would much prefer it over the SB, but can’t fit the LB in my garage.

 

If a dealer says you need to make a minimum of 6 payments with Toyota before you can refinance with a different lender in order to get all of the rebates that is BS right?

 

I know a stupid question, buying new tacomas... are you guys able to test drive it during this pandemic and how???

 

I’m not sure if I understand what you’re saying, in my case in order to get all of the rebates I could not take the Toyota financing specials.

 

Dealer told me $5500 off but in order to get the rebates you need to finance with Toyota for a minimum of 6 months and that is just standard rates. Seems like BS

 

Yes, at least here in Texas I was able to, I did wear a mask and was assured that the truck interior was cleaned prior to the test drive. This was in early April when we were in full lockdown, now it has been lifted.

 

That was not the case here in Central Texas, I financed through an outside lender and still got all of the incentives available at that time.