Thumper
05-18-2021, 07:43 AM
It's no secret, I LOVE Toyotas and have driven a Toyota since I bought my first pick-up in 1981. One thing I love about them is their resale value. ALL vehicles (unless you have a crystal ball and can spot a future "classic" to make a killing on if you hold onto it for 50 years) depreciate like a rock the minute you drive them off the lot.
Whenever I buy a new car, I keep my intentions pretty close to my vest as I DESPISE the process of buying a vehicle. Dealers are experts at playing with numbers and can make ANY deal look like a bargain, depending on how well they can play the game. When a dealer asks me what sort of payment I want to make, I play dumb (easy for me to do). I won't even tell them I have a trade until AFTER I get a price established. Otherwise, they'll play the numbers game with your trade-in. I paid cash for my last truck, but never, never .... EVER tell a dealer you're paying cash, always go the finance route as that's where they can REALLY fudge the numbers. I used to work with F&I guys who actually made more money than the dealer (true story), because they were good at what they did. Even though I spent much of my life working at new car dealerships and pretty much know the games they play, to this day, I HATE making car deals. If I don't make a deal and walk ... I know if they chase me across the parking lot, there's still room to play with. On my last truck, I stuck to my guns and walked out ... and they actually let me leave, which told me I was a bit low on what I was willing to pay. A few days later, I walked back in and upped my "bottom line", they accepted and I drove out with my new truck.
That brings me up to this motorhome deal. I've been researching and following the prices on these things for over a year. Once I finally decided what model I wanted, I've scrutinized every sale for months now. I know what they sell for and have had maybe 5 sold out from under me because I was trying to squeeze the dealer a little too tightly and there was a line of people behind me willing to pay their price. I did manage to talk the dealer into discounting the already good price, another $3000, but knew they wouldn't be willing to make any further adjustments.
But, I digress. This post started out as a pro-Toyota value type statement. When I was negotiating the deal on this thing, I told them I'd be putting $40,000 down ... and that's ALL I told them. We settled on a price AND (this is important) interest rate (actually a 1-point span) before the final deal was made and a hard hit on my credit was made. THEN I informed them I'd be paying with a trade and the balance on my AmEx. They said they had a $5000 limit on credit card use, but I like the airline miles, so twisted their arm to accept the (what turned out to be a $10,000 balance) on the card. I bought my Tacoma (2016) in 2015, so it's pushing 6 years old (time for new tires). I gave them the info and they offered $27,000 sight unseen (I didn't have the truck with me). Nope, I told them I'd take no less than $30,000. They offered to split the difference at $28,500. Nope, $30,000 is what I'll take. They caved and gave me $30,000 for the Tacoma and STILL haven't even seen it! I'll take the truck and title in when I pick up the RV.
So, $30,000 in trade for my 6 year old Tacoma and I just pulled the file to get my title. I checked the invoice and see I paid $31,938 OUT THE DOOR when I purchased it in 2015! THAT boys and girls is an example of how SOME cars can hold their value! I'm happy with it. :thumbsup
Whenever I buy a new car, I keep my intentions pretty close to my vest as I DESPISE the process of buying a vehicle. Dealers are experts at playing with numbers and can make ANY deal look like a bargain, depending on how well they can play the game. When a dealer asks me what sort of payment I want to make, I play dumb (easy for me to do). I won't even tell them I have a trade until AFTER I get a price established. Otherwise, they'll play the numbers game with your trade-in. I paid cash for my last truck, but never, never .... EVER tell a dealer you're paying cash, always go the finance route as that's where they can REALLY fudge the numbers. I used to work with F&I guys who actually made more money than the dealer (true story), because they were good at what they did. Even though I spent much of my life working at new car dealerships and pretty much know the games they play, to this day, I HATE making car deals. If I don't make a deal and walk ... I know if they chase me across the parking lot, there's still room to play with. On my last truck, I stuck to my guns and walked out ... and they actually let me leave, which told me I was a bit low on what I was willing to pay. A few days later, I walked back in and upped my "bottom line", they accepted and I drove out with my new truck.
That brings me up to this motorhome deal. I've been researching and following the prices on these things for over a year. Once I finally decided what model I wanted, I've scrutinized every sale for months now. I know what they sell for and have had maybe 5 sold out from under me because I was trying to squeeze the dealer a little too tightly and there was a line of people behind me willing to pay their price. I did manage to talk the dealer into discounting the already good price, another $3000, but knew they wouldn't be willing to make any further adjustments.
But, I digress. This post started out as a pro-Toyota value type statement. When I was negotiating the deal on this thing, I told them I'd be putting $40,000 down ... and that's ALL I told them. We settled on a price AND (this is important) interest rate (actually a 1-point span) before the final deal was made and a hard hit on my credit was made. THEN I informed them I'd be paying with a trade and the balance on my AmEx. They said they had a $5000 limit on credit card use, but I like the airline miles, so twisted their arm to accept the (what turned out to be a $10,000 balance) on the card. I bought my Tacoma (2016) in 2015, so it's pushing 6 years old (time for new tires). I gave them the info and they offered $27,000 sight unseen (I didn't have the truck with me). Nope, I told them I'd take no less than $30,000. They offered to split the difference at $28,500. Nope, $30,000 is what I'll take. They caved and gave me $30,000 for the Tacoma and STILL haven't even seen it! I'll take the truck and title in when I pick up the RV.
So, $30,000 in trade for my 6 year old Tacoma and I just pulled the file to get my title. I checked the invoice and see I paid $31,938 OUT THE DOOR when I purchased it in 2015! THAT boys and girls is an example of how SOME cars can hold their value! I'm happy with it. :thumbsup