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Buying My First Car (Truck)

Discussion in '2nd Gen. Tacomas (2005-2015)' started by RiderOnTheStorm, Mar 8, 2011.

  1. Mar 8, 2011 at 12:59 PM
    #1
    RiderOnTheStorm

    RiderOnTheStorm [OP] Well-Known Member

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    Hello,

    I am in the process of buying a new Tacoma and I've never purchased a vehicle before, so I am hoping to get some help!

    I am looking at a 2011 A/C with the 2.7L, 4x4, and 5 speed manual with the SR5 package. It has a MSRP of $25,800.

    First, I was curious about where to find invoices or maybe even an idea of what a dealer pays. I have been using cars,com, edmunds.com, kbb.com, and consumerreports.org to try to determine a "best price" or where I should shoot for negotiation. Are these sites' prices reputable or better yet, accurate? If not where can I look or does anyone have resources to help me?

    Secondly, I am deciding how to pay for the Taco. One option is create a payment plan with parents and pay for the vehicle with cash. The other is to finance it from Toyota and make payments to them. My overarching question is does paying cash or financing help influence the ability to negotiate? If I was going to make it a cash sale would the dealer (in your opinions or experience) be wiling to work with me more knowing the vehicle paid off.

    If you guys and gals could help me this that would be greatly appreciated! I'll also take any tips you have! Thanks!
     
  2. Mar 8, 2011 at 1:03 PM
    #2
    TexAggie

    TexAggie Well-Known Member

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  3. Mar 8, 2011 at 1:09 PM
    #3
    lembowski

    lembowski Rompin Around

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    I used this website when I purchased and was able to get them within $300 of the dealer cost on the site:

    http://www.truecar.com/

    For the truck you are mentioning the price based on my location is saying dealer cost is $22,797, and the average price paid is $23,158.

    Goodluck
     
  4. Mar 8, 2011 at 5:31 PM
    #4
    RiderOnTheStorm

    RiderOnTheStorm [OP] Well-Known Member

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  5. Mar 8, 2011 at 5:36 PM
    #5
    BryWi

    BryWi Psalm 109:8

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    Edmunds.com is very informative as well.

    Good luck.
     
  6. Mar 8, 2011 at 5:40 PM
    #6
    billyboi8

    billyboi8 Well-Known Member

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    -uws low-profile toolbox -5% back glass tint -5100s for the front in the future!!
    My dad has been buying them since 1983. He says you get them at about 90% cost give or take some. So you get bout 10% off the sticker price.
     
  7. Mar 8, 2011 at 5:54 PM
    #7
    TacoDawgfan

    TacoDawgfan Hunker Down You Hairy Dawg!

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    When I bought mine, and with my research, expect to chew them down 3k, which is roughly the 90% mentioned above. Sounds like you are young. As far as financing, If you need to build credit and your parents are willing, get it financed with them as a co signer to help build your credit and get a lower interest rate. I've always been told that if you have cash you can negotiate a better price, but I've not really had that luxury. Good luck.
     
  8. Mar 8, 2011 at 6:23 PM
    #8
    mattg43

    mattg43 Well-Known Member

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    In my experience with new car dealerships, cash is actually a detriment to the deal. The dealership gets a kick back from the loan provider for talking you into financing (theirs, instead of a bank...) and are generally easier to work with.

    If you are talking with a used car dealership, usually the opposite - cash talks.

    Beyond that - if you decide on financing, remember not to get into the "monthly payment" game. Work on the bottom line price, not the payments.

    Good luck
     
  9. Mar 9, 2011 at 6:51 PM
    #9
    RiderOnTheStorm

    RiderOnTheStorm [OP] Well-Known Member

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    I thought the majority of the problems (throwout bearings, etc.) were on the 6 speed manual. And yes the gas mileage is close, but 15 is not 18.

    An auto V6 puts me at minimum of $29k. Unless there is going to be a Tacoma World help me buy a truck fund...that's not going to be an option ;)
     
  10. Mar 9, 2011 at 7:01 PM
    #10
    05TRD4WD

    05TRD4WD Well-Known Member

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    if you pay cash you will always get a better deal. in dealers eyes, cash talks and bullshit walks. i bought a scion tc a while back for school because i didnt want to put miles on my tacoma and got 3K off for paying cash
     
  11. Mar 9, 2011 at 8:17 PM
    #11
    mattygabe

    mattygabe Well-Known Member

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    I used Edmund's pricing guide. It shows you the MSRP and sticker, and then a price that's paid on average in your area, and is very fair.

    When you do the negotiations:

    1. Make SURE to do your research on all the options and packages, and about what they run.
    2. Once you've researched, locate a dealer that has the truck that's as close to what you want, and call to setup a test drive to take a look at it. Be sure to speak to the "internet sales department" as they are generally not as pushy as the normal "salesmen". I suspect in a few years there will be no difference, but for now there's still a separation between the two.
    3. When you negotiate, keep things separate. Negotiate the truck's purchase price first. One flat number, should be the price that YOU will pay for the truck alone. Then negotiate financing terms using that purchase price. Walking in with pre-arranged financing from your bank or credit union is an extra feather in your cap that keeps things on your side.
    4. If you're doing a trade-in, be sure to be explicit as to it's value, and keep it separate from the other portions of the purchase, too.
    5. Also, have the dealership send over a preliminary sheet that lists the entire deal on paper, including any fees they'll charge. Ask for clarification for any of the fees that aren't immediately understood, and make sure you feel comfortable enough to be able to sign that sheet as if it were the actual contract. Then take it with you the day you sign for your Tacoma.
    Just a few things I picked up during my recent purchase experience.
     
  12. Mar 9, 2011 at 8:18 PM
    #12
    mattygabe

    mattygabe Well-Known Member

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    I'm going to start following you around, try and catch a few of the $100's falling out of your ass.
     
  13. Mar 10, 2011 at 5:30 AM
    #13
    river rat 69

    river rat 69 Well-Known Member

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    Orlando, Fla., Green side of the grass
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    NO Chrome,3" NFab's steps,TRD skid,Wet okie's.011 grill, k&n,5100's,All this comes right off when the old lady says let's go get a NEW ONE!!!
    If you can spend a day going to as many dealers as you can(nearest big city) tell them you have cash.Dont play the game on the price they want. Tell them 15% off list they will:rofl:, be nice give em your name and ph# and walk. Someone will call, works in fla. Also ask your bank or c. u. if they know a wholesaler for a small fee they are a big help. Dont let the dealer get you, get him, good luck & dont be in a hurry.:taco: Jim
     
  14. Mar 10, 2011 at 7:56 AM
    #14
    70Firebird

    70Firebird Member

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    This is all good advice--the only thing I can add is when the negotiating is done and you have their "best price", say thanks, stand up, and say you need to get going, as you told Mr. Salesman at the competing Toyota dealership down the road you'd be in to see him today.

    I did this, and the sales manager said, "Look, what do I have to do to keep you from walking out of here?"

    At that point, keep negotiating the price down and/or your trade in price up.
     
  15. Mar 12, 2011 at 5:46 AM
    #15
    RiderOnTheStorm

    RiderOnTheStorm [OP] Well-Known Member

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    I appreciate the vote of confidence - how do you like her?? I know it won't be a hot rod, but is it still fun to drive?
     
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