Toyota buyback event

It would only make sense if you have a base truck with no options (base msrp doesn't include options). If they subtract $.10 a mile, you'd be subtracting $890 from that base msrp. I'm sure your truck has lost more than $890 in two years of ownership. However, as soon as you start considering the options you may have, it quickly gets offset. They also said $.10-$.55 per mile. You quickly start to tip the scale charging more than $.10 a mile.

Now, if you are wanting to get a new one, I would go negotiate a new one first, don't say you have a trade...even if they ask. Then talk trade-in values after you're happy with the deal on the new one. Have a good understanding of what FMV is for your truck and then weigh the decision if a trade is worth it (usually a trade is only worth it for convenience, you can pretty much always get more with a private party sale).

 

How do they decide if it's .10 off/mile or .55 off/mile? Get them to tell you the exact cents off a mile if it's based off model type before you go in.

 

Exactly.

Case in point: My truck's MSRP is around $42k. I have 30,000 miles. At $.10/mi, they would be giving me $39k for it. I'd do that in a heartbeat. At $.55/mi, they would be giving me $25,500. Pretty much anyone would give me more than that.

 

My dealer sent out a postcard-style ad with my VIN, stating they would give me 120% KBB value. No fine print, no asterisk. I tossed it in the trash as I expect their cop out would be '120% of trade-in value', which would be far less than retail or private party.

 

+ tax

 

It's so they have wiggle room to screw you.

 

0.55 a mile for my '16 with 75k miles on it and I'd have to pay them to take it evidently.

 

It’s not that big of a deal. If you are interested, look into it. If they give you a good trade in and a good deal on a new truck you can consider the deal, if they don’t, you walk away. It’s not like you are forced into doing anything just because you check it out. of course it’s a sales tactic. Doesn’t mean you can’t get a good deal.

 

I literally got this call while sitting in the service waiting room at the dealer.......
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4 days after I bought my brand new 2018.

 

Yes. Wife did it with a 2017 Highlander.

Paid off Highlander Sport with 35k, broken windshield and needing new tires soon -- Offered her 34k

Offered a 2019 Nightshade with zero miles and zero issues for 42K. Got it down to 39K.

Got them to put in new headrest DVD players. Swap over the tow package. all for that price. We walked out with a $100 a month payment, give or take.

 

One of the oldest dealership tricks in the book to get you into the store and sell you another vehicle. The only winner is the dealership and the loan institutions. And then if you DO decide to upgrade your going to want the new and improved 4th generation Tacoma debuting in a few years and cycle starts all over again.

My father did it right financially. He purchased cars new, usually a base model, and would run them into the ground until they required a major repair that exceeded the value of the car. That was usually 200,00 plus miles except for the Renault Le Car that needed a new tranny at 102,000.

 

This ^ best option in some random guy on the internets opinion is pass on this and the $ you saved from not re entering another loan and starting over with interest or a minimal 890 dollar loss ( guarentee 10 cents per mile ends up being 30) and put in a locker if you haven't gotten new tires, or just new tires and even see if you need a locker at all

 

If they didn't offer to pay you that in cash to take the vehicle and Uber home, rest assured that's not what the true value was for the trade.

But it sounds great. And you're happy. And wife it happy. Which is what matters.

 

True. Which is why Toyota and others are in the finance business too.

 

I am a salesman at a Toyota dealership. They do it to get clients in to buy cars and to get more pre owned cars in their inventory. You won’t get retail values for your car but here we do drop out prices for the new cars pretty low if you’re a serious buyer with a clean trade. But honestly, if you’re considering a new car you’re better off buying one. Waiting around and paying each month on the one you don’t want is pointless.

bottom line, if you don’t get a lot for your trade, you’ll get a steal for the new car. Just picked up a highlander for my wife

 

I used to get those for my FJ all the time. When I did the math on the per mile deduction I always came up with “wait, you mean I owe you money AND my FJ just to get msrp on a new one?”

 

If they didn't expect to make money off it, they wouldn't be offering it.

 

They are letting you take the biggest depreciation hit your new truck will ever take (the first few years) and getting your truck into their inventory when it is most valuable as a used sale, and everyone knows used Tacomas are crazy expensive.

 

And hopefully with part of the factory warranty still remaining.

 

It’s a big enough range that it lets them pretty much negotiate just like they would without the ‘incentive’.