Went To Buy A 2016 Left Disappointed and 2016less

Was the added $3k in taxes/doc fees? I saw no mention of what the extra 3k actually came from.

 

Not calling you out personally. Just passing on some hard-learned lessons.

My personal rule is don't finance more than you can pay on minimum wage...because circumstances can change in an instant and minimum wage is a good low benchmark for earning potential.

2nd good benchmark is to see what the terms are for 1/2 the time frame (ie. if you plan on 72 mo., see what the terms are for 36 mo.). If you can't afford the terms for the half, you shouldn't try and afford the item at all.

3rd rule is no more than two major items financed at once. 1 car 1 house. 2 cars. 1 car 1 boat. etc.

Those rules can keep you out of a lot of financial trouble and even just money stress, and are a good litmus test for whether you can truly afford something. Sometimes you just have to say no.

Oh yeah. Alway, Always, Always put at least 20% down on anything.

 

No that was before taxes.

 

I've never heard of 20% down on a lease.

 

Oh yeah. Don't lease. Waste of money.

 

Sure it wasn't MSRP vs DSRP?
Where are you located?

 

The sticker on the truck we drove was 33
When we sat down to go over numbers it said 36.

 

Ehh not for me.
I like getting a new car every 3 years. And I generally keep my vehicle close to stock.

You do build equity in a lease just not as much as you would if you buy a car. Also it helps tacos have amazing resale.

 

Like so...

 

Put 20,500 down.
Financed 14,200

Selling my paid for 2013 rav4 to pay off new truck, with money left over.
I don't buy things I can't pay off with in 6 months. Not including my house.
Debt scares me to death

 

Hey guys. New to the group. I work in auto sales if any one has questions! I picked up my new trd sport on Thursday.. So far no issues.

 

Why would you even consider paying MSRP on a new vehicle?

Get a COSTCO quote at the very least. When I bought my Tacoma I was working from COSTCO's invoice pricing to find the lowest quote below invoice. It took some work I my part.

Everything on that Monroney Sheet to include the tow package and the Gulf States Toyota add-ons has an invoice price.

 

Yes the total TDSR was 33 and some change.

 

I have not found stellar credit or cash to be helpful at all when trying to buy a Toyota.

They don't care. The sticker is the price. Credit score or income doesn't matter.

 

It has no effect on the sticker price, but does affect how much is paid via interest on the loan. Income being the minor requirement and score being the bigger factor for getting a good rate. Some people pay waaaayyy more than they are imagining.

It is also a major factor in insurance rates aside from accident history.

 

0% financing is a gimmick, also. They charge so many $ per thousand borrowed and length of loan. Usually ends up being $2000-3000 for 5 years

 

You are saying 0% interest cost you 3k in 5 years ? Wow never heard of that

My lx570 was financed at 0% for 24 months. Cost exactly as what was financed not a penny more

 

So, when I got mine, Toyota financing had $500 rebate if financed, then pay off within a month, you save $500 and it cost you nothing and the dealer looks good for having a loan that was paid off successfully. The rebate is absorbed by the finance company and not the dealer, so if you paid cash, no rebate.

 

title: story of 3rd gen

 

Went To Buy A 2016 Left Disappointed

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