Is buying a new 2023 TRD OR in this economy smart?

Ya I like the ole reliable Toyota, I currently have a written deal for 2k under MSRP on this truck.

 

Seems pretty logical that its a smart thing. With 6-7% interest on a 40k loan your looking at paying close to 15k in interest alone for 5 years. The illogical part is telling them you will pay cash before negotiating the price. Negotiate the price then tell them you are paying cash.

 

Short of something catastrophic, vehicles aren't going to get any cheaper my friend. The biggest advice I can give is done buy the overpriced decked out one and be willing to travel and do your homework on the best deal.

 

Agreed, which I've done. But up here the Tacomas are selling before they're even on the lot still. So negotiating the price is near impossible. I'm sure they limit inventory for this reason, but also the 2023 is going out and I'm sure they're making way for the 2024 soon

 

Well that sounds perfect then! I'd be all over that deal.

 

don't pay sticker either. 23 are not a popular choice. i'm seeing them advertised at 5% off around here.

 

Honestly if I was purchasing a new vehicle now I would get something from one of the states in the middle of the US. You see them in facebook groups posting amazing deals under MSRP and all for a few miles on your truck and like 300$ worth of gas. I would make a road trip out of it.

 

sadly, many dealers are too lazy to do out of state deals.

 

I just think about the cost of taking time off work, hotel maybe, gas, flight, etc etc. doesn't seem as worth it. The truck I currently have reserved is 2k under msrp. Which honestly I'm happy with

 

My only advice is that this is the last place you want to come and ask for financial advice.

 

Realizing that hahahah, just wanted some opinions/insight. Never hurts.

 

That's fair in this market as long as they're not hitting you with some other 1-3K markup package BS. (very common in my area)

 

Made sure they weren't. I got the final price and everything.

 

yes, you can have this truck... but we have put on side steps, paint protection, rust protection and a couple of stickers. that will be msrp plus 5k

 

I say buy it, unless you have a history of flipping vehicles. But yes a crash in car prices is certainly coming. The 8-15% interest rates for cars made sure of it… as did the payment shoppers

 

Here in SE Toyota Mafia land they hit you with the markup AND the useless marked-up distributor add ons, plus an $899 dealer fee. Ever since Covid they have lost their minds.

 

It came from the millionaires and/or billionaires that live by that principle to be where they are today. It's a simple fact, not BS; if you can't buy it with cash, you can't afford it.

If you have more than one comma in your checking account, I'd love to hear your explanation as to why it's "bullshit advice to buy a vehicle with cash". If not, I'll continue to listen to the advice of those who have more than one comma in their checking account.

 

yup... repo's are way up, production is up, demand is becoming flat. inventory is building... even in the toyota world. dealers are defiantly more willing to negotiate on price

 

in the right situation, financing makes sense. currently 28 days t bills are paying 5.25% and you can get 3.99 financing through toyota. obviously, you have to factor in taxes, which would make the cash/finance calc pretty equal in this scenario...

i do believe in debt free living... and was more than happy to pay my house off early even tho my rate was a minuscule 2.875.

 

Ya I just wish the 3rd gen went on for 1 more year, cause I'd definitely wait. Thats where I'm stuck. I want the 3rd gen new, but I also know in a year or 2 the ability to negotiate down will probably be there.