Inventory coming in and prices falling

I paid $66,400 ($69,700 MSRP) out the door for a 1794 with ADV and Steps. That's D&H, North Carolina tax, registration and all in. Broker fee on top. That was 3 weeks ago and I thought that was a really strong deal. I could buy the same truck now for $65,800 out the door.

Platinums are $5000 off MSRP with no add ons like PPF and stuff you don't want.

I had to wait 3 weeks and go a couple of states over to get it but a much different situation now than even 2 months ago.

Don't let a dealer tell you they are hard to get.

 

Ya I thought I read production was ramping up

 

They have to come down. It's all perfectly fine if you're paying cash but financing with a rate at 6-9%, nobody will be buying anything

 

Sounds like a good deal you got considering it was OTD. At least in the Seattle area it is not as easy to sell Platinums and 1794s at MSRP. I got a deposit on a Pro a year ago and still don't have an allocation at one dealer. I drove an hour and I have a Pro coming in by EOM at MSRP.

 

lol, mine was 67,782 window sticker (see sig for factory options) and discount price was 62,758 and this was the discount given to me on paper in nov-22. deals were had long before now, just had to find them under hidden rocks

 

Where in SEA area did you get the pro with no mark up? Even Toyota of Seattle who were no markup during COVID were asking $5k over for a pro.

 

Its also a factor of demand dropping. Economic futures are dim and interest rates are up, inflation on necessities is through the roof. So demand for luxury cars is the first thing to crater.

im glad we just bought the wife a van under msrp after shopping for 13 months for one

 

I am getting mine at MSRP in Marysville. Doxon in Auburn is MSRP as well.

I was at ToS a month or two ago inquiring and they said they were MSRP.... could be ignorance of that salesperson I talked to. The other ones I didn't name in the area are sketch/flip floppy.

 

Love it! Let those prices drop!

 

Again, you can find in stock units at discount but I have seen very little TRD OR limiteds or pros going for less than MSRP, Most going for over MSRP. If look you can find some credit unions doing 4-5 percent interest on 60-72 months. Depends on what you want I guess. I am not a fan f the two tone 1794 interiors.

 

Production is rising, inventory is rising, interest rates are high and many insurance companies have filed for rate increases with state insurance commissioners. Insurance increases due to higher repair costs will start hitting in the next 90-180 days.

The shot of Q1 inventory is below. I think it's over 150K at the end of May so the trend continues. To your point, the auto makers have bought a lot of supply so it's doubtful they'll cut production even as the above factors kick in. Somebody is going to get squeezed.

 

somebody is always getting squeezed, just depends on who, always been that way , always will be.

 

What difference does it really make to finance @ $65k vs $70k if the payment difference is only $100 per month? A $5k discount is a chunk of money, don't get me wrong, but if $100 per month is the difference between getting financed or not, IMO such a person really can't afford the truck regardless.

 

I have a friend who owns a car lot and his GM told me that 90 percent of the people they are financing have over $1k notes, lol.

That is a house payment, but yes people spend 120-130 percent of their incomes on homes and cars don't think they are going to stop. The only makers offering discounts now are Dodge (who wants to own one of those?), select Ford models, select Chevrolet modes/trims, and select Toyota trims. Banks continue to finance them sometimes at 105-110 percent over the note. Dealerships hate it and they are taking a proactive approach to their sales where they ask for large downs, huge trade ins, or cash only sales. I don't think they want to contribute to a bank crisis or financial destabilization that occurs from it. If you are spending more than 10 percent of your individual monthly income on a vehicle note, then your priorities are way out of Wack IMO. People have a tendency to feel entitled and that they are owed something, LOL.

 

This went over your head
Doesn’t matter if it’s $50,000
Nobody is buying like old days due to the rates

 

Where are you seeing Platinums at 5000 off MSRP if you don't mind me asking? Thanks!

 

I don't know about that fleet sales are still buying. People are still buying vehicles, at those rates all day long. I don't think they are buying houses like they once were but vehicles have not taken a significant hit.

 

No…they’re not lol

 

Any number of brokers on the Toyota buying groups on Facebook. So these are broker deals which aren't for the faint of heart: There's no negotiation, they send a copy of the window sticker and it's on you to understand options and how they all fit together. You pay the broker first and most of the cars aren't on the ground so you wait 3-6 weeks. You have to send your insurance card and deposit/payment in advance to somebody you've never met. You don't have the clout of saying you bought local from the dealer. In my experience, that really doesn't buy you much anyways as everything is VIN based. The good news is that you can get really good prices with no hassles. I was out of the dealer in 20 minutes. A Toyota dealer isn't going to screw around and do a bait and switch. The guy I used has done 100's of cars with Toyota dealers.
Look for better deals at the end of the month. The 1794 I got $5500 off is probably $6500 as of today.

Not for everybody but if it works for the customer it's great. I've probably bought 20 cars, including some very high end stuff, sight unseen.

 

You are right they are not selling as many vehicles but making a ton more money per vehicle sold. As long as supply is equaling demand then you will continue to see higher prices. I love my Tundra and while I specifically didn't need Hybrid or the TRD offroad package. I took it anyway as I figured it would make it more valuable. In hindsight I should have just gotten the TSS southern states gulf state Toyota truck since they have a lot of the TRD features anyway and the black out packages look nice.

 

Toyota revenue up 18% YoY
Profit up 10% YoY
Units up 8.8% YoY
Continue to be #1 in sales

Dealers run the gamut. Some are tighter on prices. Others, like the one where I got my truck, sell higher volumes at higher discounts. They are making money on the holdback and they get larger allocations for the volume.

 

How much did you pay the broker?

 

this is how my dealer makes money. if they hit toyota sales quota's for the month and quarter, the bonus is way better than trying to nickel and dime customers. plus its more consistent profit than trying to make 500 or 1500 per customer.

 

Is a platinum for $63.9k a decent deal? Sales guy been trying to get me in a limited w trd package for $72k w a bunch of add ons i dont want, but this platinum is loaded wout extra dealer options.

 

Do you like it? For me it was either a Limited HV W/TRD package, moonroof or might as well go for the Pro for another $10k and have it all and “better” suspension and value.

 

do u know if the platinum holds its value better than a limited w trd package?

 

Like I told you on another thread, S.Fla has inventory. Either people woke up on these ridiculous prices or they are broke. Interest rates are still pretty good on new but have to finance short term which equals a high payment. The housing market is also at a standstill according to a friend of mine. He hasn’t sold crap lately and with the new law that essentially punishes people with good credit, people are not buying. Truthfully I want another 2008 to happen. But people still don’t learn that greed isn’t a good thing.

 

Toyota in general hold its value. Depends on the region and the model. But last thing to worry about is value on a depreciating asset.

 

I bought my truck last year and rates were starting to rise, was happy to pay MSRP and lock in a cheaper rate vs waiting for a discount and dealing with rate hikes (i got a sub 3% rate).

1794 doesn’t have 2 tone interior, that’s capstone

that’s a tough one, the TRD package on the limited is valuable, but a platinum is more luxurious and a better looking truck.. id vote platinum if you don’t need the TRD off-road features

 

Go Platinum, I had a 22 Limited and traded for a 23 Platinum. $72k for a limited is high, $64k for the Platinum is roughly MSRP.