I've been poking around here for a while now and am ready to take the plunge... Here's my situation -
My credit aint too great, but I can get financed at around 13%. The dealer was trying to see about a lease and said with my credit it may be the best way to go and then buy it out at the end. I'm not too keen on this. I've already financed and paid off my last vehicle through Toyota.
I want a sandstorm '08 4x4, with CQ OF not a lot of extras... I'm thinking that aftermarket add on's would be cheaper instead of adding accessories on to the finance deal.
I found a dealer who was willing to go about 500 over invoice... (After checking the pricing thread and spreadsheet, I confirmed this)
I currently own an '02 Tacoma xtra cab Prerunner that's in good condition, 80,000 miles, has the snugtop and totally paid for. Dealer offered me 8,000 for trade in.
My situation is such right now that I could carry around $500mo in payments and can seem to get around there with what I described above...
I'm curious what people think and if I'm missing something obvious? or am I being a fool accepting the terms above.
Tkb, at a 72 month loan, your payments will be around $421.56 depending on the OTD price. I figured 29,000 conservatively. However, 13% APR? That's way too high for me to bite on for that long. You will end up paying somewhere in the neighborhood of $2,000 in financing costs if not more. That's not too bad. In your situation, I might lean more towards siting on your PAID Tacoma for a couple years and work on improving your credit score. That just how I think.
However if you can afford a $500 a month payment, that gives you $78.44 in mods every week! You gotta figure out what's best for you and your responsibilities first then worry about a vehicle payment. If you're like me, no responsibilities (family, school, gf or wife, the typical stuff), then it could work.
Thanks for the advice... I'm checking into the credit union option as well.
I did go and drive a TT SE last night. I got the dealer down to 30,000 even on the vehicle... but they were really trying to bend me over on my trade in and APR.
They started at 5,000 for my '02 Tacoma and 18% financing !!!!!!
I laughed.
He gave me every line in the book about why that's all he could do and that if I got a better deal from another dealer they would probably call me back in for a 'resign' ... I've never heard of this... anyone?
anyway -
I walked out. they still had my key's (of course )
he came back with the keys and a paper in his hand saying.... "I don't know how he did this, but..." I laughed.
final offer was 7500 for my tacoma and 13.9% financing.
Understanding that this wasn't too bad of a deal with my credit, a short window of opportunity on the SE TT, and a LITTLE better on the trade in he was all ready for me to go. I walked out.
This was where the conversation should have started, but he wasted my time and patience after assuring me that they don't play games at "Nor Cal's largest Toyota dealer".... I shook his hand and thanked him for his time, but said I would rather not purchase the vehicle from him.
I couldn't bring myself to do business with him after all the sliminess. I can afford the payments, credit problems are in the past and in CA there's no penalty for paying off early, so I can refinance in a year or two when my credit is back up, and I'm ready to do
It used to be that the Internet sales department was straight forward, but alas... the search goes on.
You can get that FJ at Invoice... just shop around. As for your credit score.... I have crappy credit also and manage to get a 5.74% APR... so just check your local credit union and see what they can do for you. You can also sell your Tacoma yourself...and pocket the $$$.
I've been poking around here for a while now and am ready to take the plunge... Here's my situation -
My credit aint too great, but I can get financed at around 13%. The dealer was trying to see about a lease and said with my credit it may be the best way to go and then buy it out at the end. I'm not too keen on this. I've already financed and paid off my last vehicle through Toyota.
I want a sandstorm '08 4x4, with CQ OF not a lot of extras... I'm thinking that aftermarket add on's would be cheaper instead of adding accessories on to the finance deal.
I found a dealer who was willing to go about 500 over invoice... (After checking the pricing thread and spreadsheet, I confirmed this)
I currently own an '02 Tacoma xtra cab Prerunner that's in good condition, 80,000 miles, has the snugtop and totally paid for. Dealer offered me 8,000 for trade in.
My situation is such right now that I could carry around $500mo in payments and can seem to get around there with what I described above...
I'm curious what people think and if I'm missing something obvious? or am I being a fool accepting the terms above.
BTW I'm in northern california if it matters.
Thanks in advance for helping a noob out.
Tkb
I used Carsdirect.com extensivly for online pricing and took that number to Moss Bros in Moreno Valley CA...They matched the price which was far cheaper than anywhere else.
i got my FJ for 2k less then the target price on carsdirect and 1k less then the invoice, just keep walking out on them or go elsewhere, they even negotiated my interest rate down somehow, my credit isnt great, they wanted 9% and i told them it was too much, I ended up signing at 7.95
I have horrible credit and I got 6%, just takes some talkin. Also I would try going to a Carmax and selling them your car, you usually get a lot more than trade. I was offered $3 on my 99 Accord for a trade, went to Carmax and got $7500, and it only took about 30min. Just a thought, though you dont get the tax break on the trade in but the larger amount of $ usually will cover the difference. And just another thought, take it or leave it, but why not go with an 07? you could save a lot of money off a new, yeah it wont be a TT but still. Your payments will be a lot lower, and you will have more money for mods if you plan on goin that way.
I'm checking out different options still. It seems that if I can get 12.5% for a 72mo loan, I should be able to do better on a 60mo loan?
I have someone who seems to be working with me at a local dealer... I wish they had the exact FJ I want - '08 Sandstorm, OF CQ - he has one in brick and one in silver, but damn, if I'm going to bite the bullet on this I'm going to at least get exactly what I want.
I'm also trying Cars Direct and am cleaning up my Tacoma to sell myself... (anyone want a good deal on an 02 tacoma Prerunner, 82,000 miles clean, new tires and insulated snugtop shell?)
2007 TITANIUM SILVER FJ CRUISER 6MT
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