Anyone hearing about deals on new Toyota’s?

A lot of companies are offering sweet deals on financing and incentives. Anyone getting any deals from Toyota during the Shutdown?

 

There's a reason Toyota maintains high resale. Don't expect GM / FCA / Ford type discounts even in Covidpoclypse, Toyota is a large enough global brand and in good financial shape unlike the domestics that they can weather the storm a bit better, you can see Ford is hemorraging and already asking for a Cash for Clunkers type bailout again and FCA is getting desperate with 84 mo 0% interest subprime loans that will probably backfire when the loans default, GM just had to sell off their financing arm, so yep.

The current $1500 incentive, low rates and 90 days no payments are already very aggressive for Toyota.

 

I agree, and well said. They never offer much because they don’t have to. But this is a bit different. Worth an ask. I’m not in the market quite yet. Maybe a 21’ or 22’ 4Runner for the wife is in the running...

 

I work for Toyota Corporate HQ in Plano, TX and they've told us that Toyota expected 2020 and 2021 to be recession years, and they have planned accordingly. Even now, there have been zero layoffs at HQ and most of manufacturing. Lots of great planning by our leadership to make sure we're as stable as possible through all of this. Such a great place to work!

 

I bet the dealerships are pretty hungry, buy something off the lot at the end of the month.

 

Might get a decent deal end of this month, but its still early. End of May, or E.O. June will likely see the start of some screaming deals.

 

I got a $2000 rebate on top of 1.9% for 72 months 0 down. You gotta just break their balls a bit , they will come down on the prices, also offered the extended warr for 1800.

 

But really pretty meaningless.

$1,500 is peanuts of a normal $35k vehicle.

Low rates from in house financing is offset by paying more for the vehicle than you should, so they just collect that interest value another way.

90 days no payments doesn't reduce your debt load. It just makes it longer to be paid off if you run the full course. Not to mention again, they'll collect that 'deal' in the price of the vehicle, so in reality, it increases your debt load.

@JJ04TACO I have no doubt you may find some great deals at specific dealerships. Those things aren't parked on their lot for free, it costs them every month to be there, unless it's a Toyota owned dealer. It's in their interest to move them out just to shed carrying charges. Think of them something like house flippers who finance their flips. Time is important.

You have to know what you want, what it's true value is (your insurance carrier and a credit union can help you there), decide what it's worth to you and go shopping!

I will add that it's not the best time to take on debt. Or deplete cash reserves. So evaluate with care.

 

I have a good friend who’s a top salesman at Toyota Dallas. He’s even echoed the same sentiment about Toyota. They don’t have to deal as much. He’s furloughed but will come back pretty strong I’m sure.

Toyota is a well positioned company for sure. I’m surprised the “big 3” are still here. Their lineup sucks.

I grew up in a GM house. Switched to Toyota in 04’ after my moms 03’ 1500 bit it with major gremlins.

 

This, Toyota aint dumb, they play the long game.

 

Oh I agree, just saying for Toyota those are aggressive incentives when it comes to our trucks.

 

Bill you’re correct. Loan is probably accruing interest during those “free months” too. Most other dealers will cut on price only to make it up in the finance room. A lot of bad credit. My Niece financed her first car, a Corolla, at 20%! She had no credit. But man did they get her. We’re refinancing after 12 months.

We’re not looking to buy yet. But we are fairing better than most with finances. We carry no debt other than house.

Wife is still working and this stimulus money is crazy. We’re padding the savings big time. I’m furloughed, but no sitter, no gas, no restaurants and a house refi at 3.1%...going to be a good year here.

Have a pregnant friend in FL and their situation is bleak. Both not working and the Unemployment situation is dire. I’m trying to help my sister and niece too. They aren’t doing so good.

 

Not too bad with that interest rate. They made their 2k back on the warranty though. It's cool though, a warranty can help ease the tension of buying a new car. On a Toyota though? Thats a hard sell for me.

 

Thats actually a real great rate to score with the TFS rebate, usually its one or the other and current new car prime rates are around 4% for 6 yrs. The rebate the dealer gets back from TFS, so nothing out of their pocket on the truck and that warranty depending on the terms may be close to cost, for instance a 6yr/125k 0 deductible, platinum toyotacare for our truck is about $1050 cost. Finance guy maybe made a few bones but not that much, I've seen people get hosed for $3-4k on those, since Toyota sets the price and gives dealer finance guy room to charge whatever.

 

it was a good price, We paid 34,300 out the door Silver 2020 double cab off road., I used my duty free letter from my state which helped a lot, they gave us $500 on top of the 1500 rebate because of military etc. My wife and i did not buy the ext warranty. Unfortunately I won't be driving my tacoma a whole bunch for the time being.

 

That is pretty damn good! Nice wheeling and dealing. Negotiations are not my strong suit. I can public speak, confront and argue with people in a business setting, but do NOT send me in to close a deal however. Can't do it...

 

it wasn't bad, i have the invoice if anyone doesn't believe me

 

What was the MSRP?

 

39800 and change , it's in the truck downstairs I'm upstairs in bed with the wife .

 

Appreciate you sharing your numbers! I'm hoping to get into a Tacoma soon. Pretty sure folks don't need to see your Invoice ... just sharing what you already have is enough!