Buying new Tacoma. Never bought a new vehicle before, need some advice.

Yeah, why?

 

Depends on your state law. In GA you used to pay the tax rate of your home county regardless of where you bought. It is now 7.5% on vehicles regardless.

And once again this depends on how your state taxes are done, but here in GA it is usually better to trade in a vehicle rather than trying to sell an older one outright and pay more down. We pay tax on the difference. If I buy a $35,000 truck and they give me $10,000 for my trade I only pay the 7 1/2% on the remaining $25,000 and that can be rolled into the financing. With other issues I'd have to sell my old vehicle for 10% more than the dealer offers me in trade just to break even. I'd have to get 20% more to be worth my trouble to try to do a private sale.

If I sell to a private individual they can no longer avoid the taxes, they pay 7.5% of what the state says the vehicle is worth to get a tag. That makes it a lot harder to do private sales, everyone wants the seller to come down enough to cover the tax.

I could have paid cash for the last 2-3 vehicles I've bought, but found it better to make a decent down payment and finance the rest. The money I have in the bank is earning more money that I'm paying in interest on the loans. I'd pay enough to ensure I'm never upside down.

I also generally get the loan for a longer term than I think I'll need to keep the payment lower. I usually pay significantly more each month and end up paying the loans off early. I have to pay property taxes in November. December is always an expensive month and I always pay taxes in April so those months get the minimum payment. The rest of the year I pay 50%-100% over the minimum.

 

There's a lot more that goes into it than just interest rate. I thought the same thing until it came time to have to deal with customer service. BoA has abysmal customer service.

Your ability to log into their website and actually make a payment matters. I had to fight at it to actually be able to make my first payment with them because of how terrible their website and customer service is. My loan wasn't even set up for me to be able to log in and make payments, yet there was still a due date for a payment.

 

You could still easily schedule an automatic payment from your own bank’s web bill pay. If this was the best rate out there, I’d suffer through a crappy web site to save some $.

 

? No. I could not make a payment. I'm not going to jump through hoops through another bank to try make a payment. A bank of their size should have things working and ready to go for my loan.

 

You might be misunderstanding. The lender will send a packet with payment slips upon opening the loan, they’ll have a payment address. Just set up a recurring payment through your own bank’s bill pay service. Sends a check to that address. Easy peasy.

 

I had the in-line 4. Traded it in a year and a half later for the v6 and wouldn’t go back. If you find a manual you’ll be a lot cooler

 

From someone who had a 4 cylinder Tacoma from 2004-2019, the 4 banger is okay. I would go 6 cylinder. I purchased the 2019 6 Cylinder SR5. Cement Gray. LOVE the 6 cylinder! The extra power is worth the price. I also am in Florida as well. No mountains to deal with.

 

What was your OTD price? Also how much do you pay for insurance. All the quotes I'm getting are like $200 +/month!!!! I gotta be doing something wrong lol

 

As far as the toyota care extended warranty, i didn't take it either after they pushed me real hard to take it...even gave me a 30% discount. I did however take their simonize exterior/interior treatment plan after they guarantee me it for the life i keep the vehicle...wish it was offered on my previous tundra.
As far as the extended toyota care plan, its kind a crapshoot. I've heard mixed results from those that took it, claimed it saved them a lot down the road, and others saying its a scam. I hope i do not run into major issues as my 01 and 06 tundras were great, only minor sensor issues i was able to correct.

 

I would strongly advise against a 4 cylinder. While I haven't driven a 3rd Gen 4 banger, my dad had a 1st and now has a 2nd Gen 4 cylinder 5 speed. Both were dogs and so not fun to drive. I have some complaints about my 2020 V6 M6 but I would never spend $30k+ on a 4 banger I planned on keeping 10+ years. I can't comment on financing because I bought my truck outright but my only advice is don't focus on monthly payments and be firm on talking OTD price and don't blow all your money on a down payment. Keep something for an emergency fund especially in times like these..

 

Not that you plan on leasing. But, checkout leasehackr.com, forums. There’s a lot of good info about the whole automotive sales world, and dealer workings.

 

when I ordered my 2017 they did not require any down payment. Don’t know why but it came in 3 weeks

 

You don't have to pay downpayment if you have a good credit score and high enough income for the bank to feel confident you will payback. The only time it's required is if you have a really high interest and you use a downpayment to get the bank to lower it, or you don't get approved and putting a large downpayment can change the bank's decision. Other than that, people do it just to do it to lower the principal.

They probably did what is called dealer trade. If there is a vehicle near them in another dealership with all the things you want, they can do a one for one swap if the other dealership is willing to do it.

 

^^this^^ I fall into this trap by going with Toyota finance and immediately switch over to costal federal union due to better rates. I learned that if you finance thru Toyota the dealership will get about $1000 more after 3month of payments.

 

I got my truck financed via bank then a month later, I decided to have it paid off. No penalty fees. I am sure most banks do not have penalty fees for paying off early. You can pay double or triple each month which you get it paid off sooner than later. Or you can do the weekly payment instead of monthly. It's up to you.

 

Tacomaworld recommendations
1. Don’t buy a white truck because one stage paint can flake
2. Don’t buy an off-road because it can have a braking vibration from30-10 and the off-road doesn’t have a tsb because it’s “normal” but a sport or sr5 have the tsb
3. Don’t buy a any Tacoma because there’s not enough sound insulation
4. Don’t buy a manual because no one will know how to work on them in 5 years
6. Don’t buy any Tacoma because they rust like all other cars except last way longer thus creating a belief that Tacoma have more rust issues than other vehicles
7. Don’t buy a Tacoma because you will eventually complain that it’s not a Ford Raptor
8. Don’t buy a Tacoma because you will eventually complain it’s not a full sized truck that can pull a rocket ship
9. Don’t buy a Tacoma because it uses more reliable yesterday technology compared to Rams unreliable tomorrow technology
10. Don’t buy a Tacoma because you’ll have to lift it in order to gain acceptance from an online community that will mock you for asking any question
11. Don’t buy a Tacoma if you can’t use a search bar
12. Don’t buy a Tacoma because there’s a 50% chance the differential will howl and Toyota says that’s “normal”
13. Don’t buy a Tacoma if you are a landscaper
14. Don’t buy a Tacoma because your fluids may not arrived topped off
15. Don’t buy a Tacoma because you think the 3rd gen is still the 1st gen
16. Don’t buy a Tacoma to put big wheels on it because you’ll need to learn what CMC means
17. Don’t buy a Tacoma if you want a truck that rides like a Lexus
18. Don’t buy a Tacoma unless you want someone asking you how often do you fluid film your truck
19. Don’t buy a Tacoma because no one will respect you unless you have shiny blue coil over like things on it
20. Don’t buy a Tacoma unless you plan on turning it into a mobile kitchen with an apartment on top
21. Don’t buy a Tacoma because the AC drain dips into the frame and that means Toyota doesn’t know how to engineer anything correctly
22. Don’t buy a Tacoma because you will feel obligated to check Tacomaworld more and more, and this place is filled with a bunch of smart asses

 

The best place to check on the taxes issue is your state (where your residence is) revenue dept. Again -no matter what you read here -the tax is determined by where you live, and their tax laws.
Also in most places -it will not save you to go to the next county or city to buy as they probably will base the taxes on where your official residence is.

 

I was in the same exact boat 2 weeks ago. Go get a 2020 Off Road. The price performance ratio is amazing and the rates right now are super low!

 

One more time -- your insurance rates will vary widely -depending on where you live, YOUR DEMOGRAPHICS, and the company you choose to do business with.
Asking insurance rate questions on this website will give you many different answers - all of which WILL BE NOT ACCURATE for YOU. Check around with the various companies, in your locality (check many and compare) -this means calling the agents and giving them your specifics.