who in here is good wtih finance?

[Mr_Mechanic]

especially auto finance.  looking to buy a 2018 Toyota Tacoma TRD Sport package and dealer sent me this after inquiring about it.

"The $36,576 is the MSRP on the Tacoma.  Toyota is offering incentives now through 7/31/18. $1,000 cash back or 1.9% for 60 months.  With 1.9% for 60 months our best price is $33,630.  With the cash back rebate our best price is $32,629."

My credit is in the 800's.  What are your thought on this?  When it comes to finance, and I'll admit, I don't know much.

Thanks,

[Yebleng]

Thats cheap. My brother in law bought a sport package/long bed 2 months ago for about $38k

[winerice]

Man you guys are balling. I can't even afford a 20K car.

[theking]

especially auto finance.  looking to buy a 2018 Toyota Tacoma TRD Sport package and dealer sent me this after inquiring about it.

"The $36,576 is the MSRP on the Tacoma.  Toyota is offering incentives now through 7/31/18. $1,000 cash back or 1.9% for 60 months.  With 1.9% for 60 months our best price is $33,630.  With the cash back rebate our best price is $32,629."

My credit is in the 800's.  What are your thought on this?  When it comes to finance, and I'll admit, I don't know much.

Thanks,

Are you cashing out with the "$32,629" or still plan to finance that amount?

[mind-teaser]

It's simple....you WILL NEVER WIN!!! 

[Mr_Mechanic]

Are you cashing out with the "$32,629" or still plan to finance that amount?

i'll be financing it. 

[theking]

i'll be financing it.

See if you can get a loan with lower interests on your own and do the lower amount...also depends if you putting money down too or not...and how much down...

[mind-teaser]

I've always view a vehicle as a mean to get from POINT A to POINT B and nothing more. If i can spend LESS, say (10K) for a car and still gets to my destination without hiccups....I'm FINE with a USED car.  NOW don't get me wrong...buying a NEW car is MOST of our dream, it's just a matter of what your intention with the car you're going to use it for that justified you spending 38K???

[Mr_Mechanic]

See if you can get a loan with lower interests on your own and do the lower amount...also depends if you putting money down too or not...and how much down...

yeah, I spoke with a local bank here and they say that they typically need 15% - 20% down for a car loan.  which isn't a issue with me.  but I pretty sure, i'll be able to get a lower APR with a bank versus going through the dealer.  I guess my original question or question I have in mind is which choice is better. 

[Mr_Mechanic]

I've always view a vehicle as a mean to get from POINT A to POINT B and nothing more. If i can spend LESS, say (10K) for a car and still gets to my destination without hiccups....I'm FINE with a USED car.  NOW don't get me wrong...buying a NEW car is MOST of our dream, it's just a matter of what your intention with the car you're going to use it for that justified you spending 38K???

and, you are right.  that's what I think too.  but, man, the dark side is kicking in.

[DuMa]

I used to sell Toyota but that was when I was a starving student. 

Take that pencil and email all them other dealers to see what them internet managers can offer you then you use that lowest price to play games with them.  Someone is going to earn your business especially it is a starving sales manager who needs to hit their numbers.

Don't let them use them other discounts to play games with you.  In your case, work with $36.5 and go down.  Once that number is established, them other stuff like apr and rebate n such will knock it down even further.  If you finance, don't let the finance manager to add extra like rugs or mud flaps or tinted window to your pricing.  With finance, you are also financing that rugs n extra which makes your $400 rug to become $800. 

You can buy it later for $400. 

A big mistake that consumers make is allowing the sales person to put you in any available color car n go on a test drive with it.  You will end up buying a car in that color.  You can request for a dealer trade.  You may not get the car today but at least you got to get your choice of color.  Remember that you are not buying a piece of candy.  A big ticket item should be at your choice including everything with options.  If the price is high and the car has other options you don't like, tell them to take it out.  If they are like me, I want that sale so i say free tint window for you.  Like how they gonna get tint window out know what I'm saying?  Plus, if you don't mind slightly used, tell the sales guy to get you them floor mats from a similar vehicle on a used vehicle.  It is in the back trunk.  Get it for free. 

And if you want a value, try to buy at invoice price.   It is the price the dealer payed for.  They then make the money off the rebate and other manufacturer incentives. 

Hope that helps. 

[Mr_Mechanic]

I used to sell Toyota but that was when I was a starving student. 

Take that pencil and email all them other dealers to see what them internet managers can offer you then you use that lowest price to play games with them.  Someone is going to earn your business especially it is a starving sales manager who needs to hit their numbers.

Don't let them use them other discounts to play games with you.  In your case, work with $36.5 and go down.  Once that number is established, them other stuff like apr and rebate n such will knock it down even further.  If you finance, don't let the finance manager to add extra like rugs or mud flaps or tinted window to your pricing.  With finance, you are also financing that rugs n extra which makes your $400 rug to become $800. 

You can buy it later for $400. 

A big mistake that consumers make is allowing the sales person to put you in any available color car n go on a test drive with it.  You will end up buying a car in that color.  You can request for a dealer trade.  You may not get the car today but at least you got to get your choice of color.  Remember that you are not buying a piece of candy.  A big ticket item should be at your choice including everything with options.  If the price is high and the car has other options you don't like, tell them to take it out.  If they are like me, I want that sale so i say free tint window for you.  Like how they gonna get tint window out know what I'm saying?  Plus, if you don't mind slightly used, tell the sales guy to get you them floor mats from a similar vehicle on a used vehicle.  It is in the back trunk.  Get it for free. 

And if you want a value, try to buy at invoice price.   It is the price the dealer payed for.  They then make the money off the rebate and other manufacturer incentives. 

Hope that helps.

Thanks.

[hmgROCK]

finance guy here..

just for simple math sake, and rounding
1.9% at $33,600 for 60 months=  $1648 interest that you would be paying to your lender

better buy now
before the interest rate goes up even higher

so my advice
don't take the $1000 cashback
unless you can find a lower rate at the bank
going be hard to be 1.9% espcially with the interest rate going up

[DuMa]

Let me tell you how I am going to play games with you.

I can tell you whatever to see where you are at.

38k.  I take 3 for 30% times by 38.  The first three numbers, I will tell you that if you put 30% down, the bank can finance you with that 3 numbers as your monthly.  Do you want to pay that amount per month or do you want to pay more?   If you agree here, i already close my deal with you paying 38k the number I'm going to work with.  Now that number will be high so you say you want to pay less per month.  Ok, how much you want to pay per month?  If you give me a reasonable number, I will close my deal with you financing the 38k. 

Don't let them talk to you about the finance part.  Attack them to lower down the 38k then talk about the finance part. 

So many tricks I tell ya. 

[DuMa]

Talk to the internet manager.  You will get a figure that you can print out.  Then you go talk to a starving sales guy and try to beat that.  If unable, you still have your print out.  The number on sales person is the internet manager.  That fool gets big time customers from the internet so that fool never have to hustle for customer on the floor. That person is also a manager so they can give you a price.  Sales people are middleman.  They have no saying In the pricing so why do you want to do business with such person?

The best tool is to stand up and walk away if you feel pressured or they not being honest with you.  That skills alone had me running to the fleet manager and tell them that my customer will walk, let's make a better offer and I go running after you for your terms. 

Control is important.  You let them control you, you will lose.  Like after the test drive, the sales person will walk into the show room and you will follow them like a mindless zombie.  It is a science and car dealership have put out big money to test out this science. 

I wouldn't follow them.  I will continue to go see other models. This shows you that you are the one in charge so either on your terms or you outta here.