In my market I’m looking at Tacomas as they meet my needs close to perfectly. Used Tacomas from the last five model years 2017 onward are selling for more than new Tacomas. Used Tacoma’s 2014 and onward are almost matching price.
This appears to be because inventory of new is so, so low right now. Over the weekend there were less than 20 Tacomas on dealer lots that were not pending sold.
I say all to say it seems to make the most sense if buying a Tacoma, to buy new. What should I be looking for in a car loan? My credit and income set most of the numbers, so are there things I can control other than interest rate that make a loan bad or good?
I’m thankfully in a position where I can afford the Tacoma payment, gas, and insurance. So I’m not concerned there. But I’d like to get the best deal possible and not sure what that is.
My financing experiences in the past are limited and on much older vehicles.
I suspect the dealership may try to negotiate based on monthly payment. Avoid that.
This past 8 months – now ; is the only time in my life where new cars make sense.
Get your own financing before you walk into the lot and shop around.
Be prepared to say NO a ton. No – fabric treatment ; no – dealer maintenance package; no- mud package ; no – extended warranty.
If you find you don’t like the salesmen – walk away.
You will most likely have to order and wait. You should be looking to not pay above MSRP, not pay for extra dealer added services, warranties, fees etc, and a decent interest rate. On a new model that’s in large demand good luck. Maybe these high fuel prices will make some buyers to back out and help inventory go up.
in today’s market you can get 2 deals: 1. don’t pay over msrp that is your best deal 2. shop interest rates, you can get an auto loan through your bank, a different bank, or a number of other places if toyota doesn’t have any incentives to finance through them they might not be the cheapest
Yes buy new when you don’t need a car is the best move. That way you have time to shop around and jump on the best deal.
Do your homework by getting quotes via internet. Get the best price and use it against the one you really want. I was once the “comptroller” for a car dealer (that’s what the GM called me. There were times on the last day of the month where they would sell a unit under cost because if they hit 50 new units Ford gave them $100 bonus per unit. I once saw them sell last car for under $2k of cost because bonus was $5k. In conclusion, do your homework, be patient and get up and walk out if needed. Most of the deals, the salesperson is getting a “mini”($100) so they def aren’t going to bat for you.
Don’t know where you live and if the dealers have the same rates but I just bought a Tacoma brand new. Interest rate was 1.75% through the dealer for 48 months. 2.75% for 60.