Advice on buying a vehicle on Black Friday?

Inventory is still tight. Unless you need a vehicle today; wait.

 

Know exactly what "Fees" and "Taxes" are required by, or allowed by, law and which ones are negotiable. If you're in a state that applies sales tax to a vehicle purchase, know exactly what they can (and CANNOT) apply that against.

Don't expect any great deal in the current climate. I ordered a '20 Taco in June. It arrived as a '21 last month. It's still sitting at the dealership waiting for the final touches (done by an outside shop). My bottom line 'out the door' price is about 4% below MSRP. Not likely you'll find that kind of deal from what I've seen here at TW.

I'll let them handle the financing (at 2.49%) BUT watch out for the time elapsed between signing and first payment - anything more than 30 days translates into paying more interest over the entire term of the loan. I'll refi in 2-3 months, pay off the vehicle loan, and get a clear title to the truck. The refi will be a collateral loan against a CD sitting in my bank without a lien against my Taco.

If you can't handle the payment for a term greater than 36-48 months, then you're buying beyond your means. DO NOT drive off the lot upside-down on your loan - that's just plain stupid. If you're considering Gap Insurance, then again, you're buying beyond your means.

Do NOT think that paying cash gets you a better deal - it does not. Always negotiate as if you are going to finance (there are sometimes behind the scenes deals between the dealership and the financial institution). You can always come back with cash in your pocket when it's time to sign.

Trade-ins are a joke. The MSRP applies and MAYBE they'll inflate the value of your trade-in vehicle somewhat.

Always, ALWAYS be prepared to walk out.

 

....and work down from there.

 

i got a better price without it and they wouldn't budge on pricing with the costo thing

 

I take the Costco price and then go to other dealers and negotiate down from there. The Costco dealers won't usually go lower.

 

Wait for cyber Monday instead.

 

I would suggest waiting until the end of December - the end of the quarter when they're looking to fatten up their quarterly bonuses. I dropped by the dealership on 9/30 & departed with a deal for $600 under invoice at a time when they weren't offering any better than the $1K rebate off MSRP.

 

The best deal is the one you research, cross-shop, and negotiate. If you don't like haggling, use Costco or Truecar.

 

This is just straight up dishonest. You don't have to tell them you are paying cash, that's one of the worst thing you could do, but if you are paying cash, then you don't tell them you will finance through them. Just because they try to be as dishonest as possible doesn't mean you also have to be dishonest. There are many ways to get the deals without lying about it. I've been a cash buyer for 20+ years, buying new vehicles almost every year. The reason dealers suck is because they are dishonest...you're right on par with them if you are dishonest as well...liars suck

 

Last time I was at the lot there were 2 Tacoma’s there and the sport was over $40k. Just say no. This isn’t the time to be buying with low inventory.

 

End of the fiscal year usually 10/31 is probably the best day to shop, not taking manufacturer incentives into account. Many times the dealers in the area are in competition with each other for vehicles sold (some times there isn’t much competition) or there some kickbacks from the manufacturer. As someone already said you can get a great deal almost any day. There really isn’t a best day. The end of the month is when the dealership is usually willing to wheel and deal the most. And a lot of times also when certain manufacturer incentives end. There’s so many factors that come into play. Big manufacturer incentives will blow away any dealer savings, but if you can find a time to maximize on both that’s really the time to buy.

Having been in to automotive business for about 15 years, and working in dealerships for 10 years there’s a lot you see, hear and learn. So that’s my input I’ve gathered over time. I was once told “the best deal isn’t the one you got. It’s the one you think you got”

 

X2, Tom McParland on Jalopnik usually has good articles. I say treat it like any other time you shop for a vehicle.

 

An eye for an eye. I'm glad you are such a perfect honest being. Wish I was a fly on your wall.