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Car-Buying Advice Please

bobpark56 said:
The scenarios vary. When I purchased my last 2 cars, I was able to save $2000-$4000 by buying them 150-200 miles from home (Hyundai Genesis & Hyundai Sonata). Last week, when looking for a new Toyota Avalon Hybrid, I found that all Toyota dealers within 300 miles had their pricing pretty much in synch. No advantage here (Pittsburgh area) to seek deals out of town. Costco may help. Try the USAA portal if you are a USAA member. That gets you as low as a 2.34% loan, if you prefer to use borrowed money.
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I'm finding rates lower than that at the dealer. Just for fun I went to our local Honda dealer online. They are quoting 1.9% APR 24-60 MOS. or 2.9% APR 61-72 MOS. Yes, the 2.9% is higher, but if you can do a shorter term the rate is lower. I couldn't find information for the local Toyota dealer. Our credit union is offering loans for new cars as low as 1.86%.
 
Looks like they were offering 0% financing in April (https://carbuzz.com/news/toyotas-0-financing-deals-better-late-than-never). I wouldn’t be surprised if that offer returned, assuming you can’t find it now.

In any case, this is what I see when I look at the Toyota site itself, so there’s little reason to look at a bank or credit union IMO.

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I've always bought in December...often end up with a new year like 2021 as many left on lot for 2020 are loaded. It depends on what you want. I always found everyone is so focused on holidays so I've always been alone in dealers. Closer to Xmas, the better. I've had good success and even had ski racks thrown in or privacy covers in back . I've bought Honda and Toyota.
 
The model year for the Asian and Euro cars tends to more coincide with the calendar year. The domestic cars tend to upgrade in the fall. If I were buying a new car, I'd get with the dealer after deciding on make and model and find out when production of 2020 stops and 2021 starts to arrive. If you find a leftover that has what you want, it will be discounted once the 2021s arrive. I'd wait for the discounts, unless there is some 2020 leftover that has all you want. Just realize the leftovers will be deeply discounted once the 2021s come out.
 
we haven’t decided if we will finance any of the purchase. At what point in the process is it best to tell the dealer/broker that?
 
mentalbreak said:
we haven’t decided if we will finance any of the purchase. At what point in the process is it best to tell the dealer/broker that?
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You don't.

All you need to say is "I will pay for the vehicle".
They do NOT need to know how you will pay for it.
None of their business.
Let them make offers to you.

Don't mention what you want to pay per month. Just say "I will pay for the vehicle". The onus is on them to earn your business.
 
bbodb1 said:
You don't... [Also] Don't mention what you want to pay per month. Just say "I will pay for the vehicle."
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Many 3rd party lenders will give you a conditional draft for the car you want.
You can use it at the dealer or not, depending on the rate the dealer offers you.


.

.
 
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Ken555 said:
Looks like they were offering 0% financing in April (https://carbuzz.com/news/toyotas-0-financing-deals-better-late-than-never). I wouldn’t be surprised if that offer returned, assuming you can’t find it now.

In any case, this is what I see when I look at the Toyota site itself, so there’s little reason to look at a bank or credit union IMO.

412e1ea61e6960516050e24c9277ac04.plist



Sent from my iPad using Tapatalk
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You can get 0% from Toyota now, but you have to give up their current $2500 cash-back offer if you want the cheap loan. Otherwise it's 2.9%.
 
bobpark56 said:
You can get 0% from Toyota now, but you have to give up their current $2500 cash-back offer if you want the cheap loan. Otherwise it's 2.9%.
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When my wife bought her last car, Ford was running a similar deal. We ended up getting a good-sized cash incentive if we financed, and would have ended up paying more if we paid cash. So we took the cash incentive and financing. Then promptly paid off the loan after the first statement came out. We maybe paid $20 in interest, as we put a down payment of over half the cost of the car. :)

Kurt
 
PigsDad said:
When my wife bought her last car, Ford was running a similar deal. We ended up getting a good-sized cash incentive if we financed, and would have ended up paying more if we paid cash. So we took the cash incentive and financing. Then promptly paid off the loan after the first statement came out. We maybe paid $20 in interest, as we put a down payment of over half the cost of the car. :)

Kurt
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I had that experience when I bought a Saab in the 90s. In fact, the least expensive purchase option at the time was leasing the car, even after all the misc fees, as compared to a cash purchase. It all depends on the current incentives.


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Well, today is (maybe) the big day. Scheduled a test drive for my local dealer to see if I can get the price I am willing to pay with an end-of-the-month purchase.
 
mentalbreak said:
Well, today is (maybe) the big day. Scheduled a test drive for my local dealer to see if I can get the price I am willing to pay with an end-of-the-month purchase.
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Keep us updated. I love stuff like this. GOOD LUCK! Stay strong.
 
www.youtube.com

Your Auto Advocate

First and foremost I am a father who is trying to set an example for my children, or maybe I am a father who is reveling in the examples that my children, Da...
www.youtube.com www.youtube.com

They will also negotiate a deal for you.
 
billymach4 said:
www.youtube.com

Your Auto Advocate

First and foremost I am a father who is trying to set an example for my children, or maybe I am a father who is reveling in the examples that my children, Da...
www.youtube.com www.youtube.com

They will also negotiate a deal for you.
Click to expand...
They don't have the auto buying service anymore. However their videos on YouTube are excellent.

Sent from my Pixel 4 using Tapatalk
 
mentalbreak said:
I am exhausted. But we have a new car. And perhaps the dealer met a monthly sales goal

Thanks for all the advice. I think I will be happy tomorrow. Such an un-fun process.
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But in the end, what really matters is this - are you satisfied?
 
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