The dealership keeps callig.

rates are up and prices are up from when you bought.

Payment will lower only 3 ways
1. Large sum down
2. They drag your payments out so long
3. New Vehicle is somehow cheaper and you have alot of equity

 

https://www.edmunds.com/appraisal/

 

It won't add anything. It's a less expensive option that a smaller segment of potential buyers are looking for.

 

My friend sells homes here in AZ at a new builder. He tells me we have all these people coming in now to close but they don't qualify anymore because they have 2 $1000 plus auto loans. They are also lowering prices 20 to 25% and still can't give homes away. I'd just hold on to what you have and then when home shopping time comes around sell the truck lease a corolla for $219 a month use the equity on the truck for you mortgage and wait to buy another or refi the truck loan over 72 months when its closer to home qualification time. should cut your payment in half.

 

Its prob doable with the equity he has in the truck.

 

Actually the manuals sell for more than the auto's at least the pros do. Last I looked it was about $650 more

2020 Toyota Tacoma TRD Pro Manual
Your Vehicle's Market Price: $56,366
The market price of your vehicle is calculated by analyzing the prices of similar vehicles that were for sale recently.

2020 Toyota Tacoma TRD Pro Auto
Your Vehicle's Market Price: $55,710
The market price of your vehicle is calculated by analyzing the prices of similar vehicles that were for sale recently.

 

It's not the dealer stretching the term lol. 84-month rates are outrageous right now.

Guy owes 29k on the truck. Dealer will prob give him 37-40k on trade. They are using the 7-10k equity in the truck to put down on another similar truck to get the payments lower.

 

Those $1000 car payments will show up when a mortgage broker runs your credit to put in the initial offer way before someone would be at the point of closing on a house. Unless they financed 2 new cars between the time of offer and closing, you statement makes zero sense. All financials are disclosed way before closing.

Housing market is still inflated in most areas. I'm in the northeast and homes are still overpriced and selling.

 

I do admit to ignorance on the used market, as I only buy new (terrible used luck), but MSRP for a stick is less than an auto.

 

Not really ……

I just had the oil changed and transmission fluid changed on my 100,000 mile 2016 4Runner. This dealer is the largest Toyota dealer within 200 miles. They had exactly 1 (one) new vehicle on their entire lot. I had lunch with the GM while my 4Runner was serviced (I bought). He showed we their current allocations on his computer when we returned. They are only getting 16 - 20 new Toyotas a month to sell (about 10 per allocation). This dealer was selling 300 - 350 new Toyotas a month pre-pandemic.

 

Correct but used market it's different. I only buy manuals if its available. I have always been able to sell them for more Audi s4, BMW Z4, Tacomas etc. Mainly because I just say to the buyer "find another". If you have the only manual in town and don't need to sell then wait. Someone always comes along. Key is not to buy a POS like a chevy whatever.

 

Toyota has basically halted production. They had good run in the last few months and plan on raising msrp pretty good here in the near future. Their margins fell 4% so look at that as the number.

Toyota Is Going To Raise Prices In The U.S. And Europe To Offset Higher Costs | Carscoops

 

Why do you think the dealer wants it? They can charge an arm and a leg. Trucks are rolling in, but MTs are still rare. They're going to try to sell you on the AT, then take in your MT for a huge flip.

 

Dealers want lower-mileage used vehicles to put on their lots so they can really charge out the ass for them. 3rd Gen Tacomas with 60K+ and even closer to 100K miles are going for obscene prices.

The dealer where my dad bought me my truck back in 2009 has a 2021 Corolla LE with almost 16K miles for $29K. Just to give you an idea of how absurd this all is, a brand new 2022 Corolla LE (with all the options you can get on an LE) has an MSRP of $23,300 and a loaded XLE is supposed to have an MSRP of like $27K if I remember correctly...?

 

Thompson Toyota in Doylestown, which replaced my frame under recall last November, will sell anything on the lot (even a TRD PRO) at sticker. However, they aren't doing special orders and only have what they are allocated. My dad bought my truck new at Peruzzi Toyota in Hatfield, Pennsylvania back in 2009 when I'd just gotten my learner's permit. My truck is a 2010 RC 5-lug auto, and the sticker was like $17K and change.

My dad paid less than $15K, putting $2,000 down and financing the rest at 0.9% for three years through Citadel. My dad paid the truck off in late 2012-early 2013, and officially gave me the truck as a Christmas present in 2016. He signed the title over to me, it is now legally mine, and I refuse to get a new vehicle in this market.

Peruzzi, the same dealer where we bought the Tacoma back in 2009, is charging almost $30K for a used 2021 Corolla LE (see above)!

 

That's how it appears in North Scottsdale. I mean there's definitely some wealthy families, but many have leased vehicles and fat mortgages. It's all about the image and competing. Why someone would choose to lease a new luxury car while renting an apartment is beyond me.

 

This is actually in buckeye believe it or not people are coming in making 100k between them and have these ridiculous payments.

 

Prob because not a lot of people want to buy right now. Market is still crazy is many areas.

 

X2.

They are calling because they know they can make some money.

 

If you wanted to take advantage of the “best” day to buy of the year you already missed it