2023 price increases are insane

Institutional sales ought to be outlawed. They are partly the reason for the run-up on prices the last few years, outbidding everyone else with venture cash.

 

Yeah I don't like the practice, but outlawing how the people who are in control of other people's money spend that money don't sound like a good idea either.

Edit

The seller isn't obligated to take the highest bid, atleast I don't think they are. Obviously they want to sell to the highest bidder.

Banks were and still are liquidating assets. They couldn't invest in an economy that was closed for business, and didn't have a work force. One other option for them was to invest in crypto. Physical assets sound like a better investment, than crypto especially when those assets where at their ATH.

 

Pretty much the same here being a waterfront property, they don't make anymore of it. My home too has doubled in value since 2002 when I bought, and remodeled it. Home prices have dropped a little since last spring.

 

Do you mind sharing how much did they quote the Sr5? I put down payment on February for an SR5 DCLB and price before taxes was $47K CAD

 

I couldn’t agree more!

 

I’m glad I bought mine in 2020, while most people were still petrified to leave their house and the dealerships we’re bending over backwards to make a sale. I think I was the only customer on the entire lot! I missed their 0% financing on Tacomas by a few months (which I have never seen before or since 2020), but I still got a good rate from my Credit Union, and paid $3500 under sticker.

 

I’m surprised yours has only doubled in value. I bought my lake home in ‘95 and it’s almost quadrupled in value since then.

 

The price on Toyotas site was $47,350 , what I paid before the msrp price increase end of Dec was $45,330 CAD plus tax . It was also an SR5 DCLB .
It looks like they have bumped up the dealer fee into their prices . My purchase was simply a business decision as I was looking for a newer work truck and accountant said get it before year end to expense it in my last year of full time contracting .

 

I haven't gone through the entire thread but the biggest price increase is the maximum dealer fees allowable ($1221) which is included in your $47,350. I don't believe this was showing on the Toyota site in 2022. I think over all the price on each model has only gone up $500-$700 compared to the previous year. When I purchased my 2023, the dealer didn't charge me a dealer fee but had to honour the 2023 MRSP price jump as there was no way around it.

 

I didn't take the highest offer when I sold my last house, but technically you're supposed to have a good reason to do so. The high bid came from an unconventional borrower, and there was a conventional loan that came in at just 1000 under that. On my realtor's advice I took the conventional.

I also wasn't told any names until it went past the offer acceptance stage. I just got a sheet with the offer amounts and method of finance. That keeps it all above board and protects the seller from accusations of discrimination.

 

Global warming? Melting ice caps? It’s all going to be water front property. I’m buying top of the mountain property. Or a submarine. I haven’t decided.

 

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Good news on Tacoma prices:
I’ve just returned from the year 2025, and the prices on the Tacoma website configurator today actually look really cheap in comparison. Buy now.

 

From another thread
"
Suggested Retail Price (MSRP) in Canadian dollars and includes Freight & PDI of $1,930, Air Conditioning Charge of $100, Tire Levy of $25, and Dealer Fees of up to $990.
That's why price went up so much, they included everything in MSRP now."

 

Yes, that's what I thought as well.

 

Correct, Canada has a mandate to include all fees in prices now and Manufacturers have started to implement this. The problem is not all have done this yet and some people now compare MSRP to MSRP with all fees, which isn't apples to apples anymore. Doesn't help that Toyota added $990-$1221 doc fee allowance for dealers to charge. So all that is now shown up front. I kind of like it because it shows people just how expensive things are up front.

2022 to 2023 Tacoma price really didn't change much. Just a few hundred $ for the pure MSRP jump.

 

Used vehicles prices are going to drop. 6% of sub prime auto loans are 60 days past due. Talking head said 2% is healthy.

Also recently there was 2 billion in auto Assist Backed Security (ABS) that weren’t sold at the asking price. Financials are starting to crack.

 

It’s coming, toy-time is nearing an end.
Banks will be auctioning off bro-dozers like chiclets.

 

Sheesh, for poops and grins, I just priced out my SR DCSB that I bought brand spanking new in '17 for $22K. It's now $30K+. Nah, there's no inflation.

 

I’m staying out of this one, it’ll get political otherwise…