Topic: Test Drive: 2014 Toyota Tundra

[greengs]

ms blotter is dead set on the Taco, but my persistance has her warming up to at least coming with me on my D3 tour test (which I'm thinking will happen in September)

I just picked up a 14 Tundra SR5 TRD crewmax on clearance.  Took both tacoma and tundra on extended drives.  Wife and I both agreed Tacoma is just too small interior wise.  We do have 3 kids, but we also have a minivan.  Also drives very poorly and the seating position as I said in another thread is a unacceptable.  For a little more money Tundra was a decent deal and better equipped.  It has way better rates and cash discounts. And resale while not as insane as Tacoma's is decent where you can lease a crewmax for well under 500/month.

curious how much of a deal you got.  (if you want to disclose)
I haven't even bothered with working out a price for that, but they did tell me a much more significant discount could be had on the Tundra over the Tacoma.

$4,000 is the cash discount from Toyota.  I was able to get $3,600 but I leased.  So had I paid cash I would have got $7,600 off middle of the road trim level. 

[blotter]

ms blotter is dead set on the Taco, but my persistance has her warming up to at least coming with me on my D3 tour test (which I'm thinking will happen in September)

I just picked up a 14 Tundra SR5 TRD crewmax on clearance.  Took both tacoma and tundra on extended drives.  Wife and I both agreed Tacoma is just too small interior wise.  We do have 3 kids, but we also have a minivan.  Also drives very poorly and the seating position as I said in another thread is a unacceptable.  For a little more money Tundra was a decent deal and better equipped.  It has way better rates and cash discounts. And resale while not as insane as Tacoma's is decent where you can lease a crewmax for well under 500/month.

curious how much of a deal you got.  (if you want to disclose)
I haven't even bothered with working out a price for that, but they did tell me a much more significant discount could be had on the Tundra over the Tacoma.

$4,000 is the cash discount from Toyota.  I was able to get $3,600 but I leased.  So had I paid cash I would have got $7,600 off middle of the road trim level.

thanks!... I won't be paying cash in this lifetime. 

[dkaz]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

[blotter]

^^^

well, i need to finance 1 more.
then... i'm done with car payments!!!!!

[OliverD]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

And then you're never buying another car again?

[dkaz]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

And then you're never buying another car again?

Paying cash. Well ok unless a good deal at a good finance rate (0%) comes along. Or it's a limited run 30th anniversary MX-5. Dear auto manufacturers, don't tempt me. I'm kinda angry at Mazda for actually giving the Mazda 3 GT a manual after all.

[greengs]

ms blotter is dead set on the Taco, but my persistance has her warming up to at least coming with me on my D3 tour test (which I'm thinking will happen in September)

I just picked up a 14 Tundra SR5 TRD crewmax on clearance.  Took both tacoma and tundra on extended drives.  Wife and I both agreed Tacoma is just too small interior wise.  We do have 3 kids, but we also have a minivan.  Also drives very poorly and the seating position as I said in another thread is a unacceptable.  For a little more money Tundra was a decent deal and better equipped.  It has way better rates and cash discounts. And resale while not as insane as Tacoma's is decent where you can lease a crewmax for well under 500/month.

curious how much of a deal you got.  (if you want to disclose)
I haven't even bothered with working out a price for that, but they did tell me a much more significant discount could be had on the Tundra over the Tacoma.

$4,000 is the cash discount from Toyota.  I was able to get $3,600 but I leased.  So had I paid cash I would have got $7,600 off middle of the road trim level.

thanks!... I won't be paying cash in this lifetime.

This month the rebate went up to $7000, which means with dealer discount There's about $10,000 off on the crewmax models. 

[mixmanmash]

ms blotter is dead set on the Taco, but my persistance has her warming up to at least coming with me on my D3 tour test (which I'm thinking will happen in September)

I just picked up a 14 Tundra SR5 TRD crewmax on clearance.  Took both tacoma and tundra on extended drives.  Wife and I both agreed Tacoma is just too small interior wise.  We do have 3 kids, but we also have a minivan.  Also drives very poorly and the seating position as I said in another thread is a unacceptable.  For a little more money Tundra was a decent deal and better equipped.  It has way better rates and cash discounts. And resale while not as insane as Tacoma's is decent where you can lease a crewmax for well under 500/month.

curious how much of a deal you got.  (if you want to disclose)
I haven't even bothered with working out a price for that, but they did tell me a much more significant discount could be had on the Tundra over the Tacoma.

$4,000 is the cash discount from Toyota.  I was able to get $3,600 but I leased.  So had I paid cash I would have got $7,600 off middle of the road trim level.

thanks!... I won't be paying cash in this lifetime.

This month the rebate went up to $7000, which means with dealer discount There's about $10,000 off on the crewmax models.

Interesting:

1. 4x2 models have a $4000 rebate.  No rebate on the standard package regular cab.
2. All 4x4 model have a $5000 rebate, but CrewMax models have $7000 off.

Pretty good discounts.  Makes it a decent buy with the discounts.

[Vanstar]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

I have never financed a car in my life. I would suggest you look into ETF's instead of mutual funds, Dkaz, much lower management fees.

[dirtyjeffer]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

i do both...and as long as you get a decent finance rate, it isn't a bad thing to finance.

for example, my Rio5 rate is 2.49%...my mutual funds made just under 23% last year...had i sunk all my money into the car to "pay cash", i wouldn't have had it earning almost 23% last year (or 21% the year before)...our ET is financed at 0%...for us, paying "cash" (even if we could) would have been much more stupid than financing considering the returns our investments are making.

[Vanstar]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

i do both...and as long as you get a decent finance rate, it isn't a bad thing to finance.

for example, my Rio5 rate is 2.49%...my mutual funds made just under 23% last year...had i sunk all my money into the car to "pay cash", i wouldn't have had it earning almost 23% last year (or 21% the year before)...our ET is financed at 0%...for us, paying "cash" (even if we could) would have been much more stupid than financing considering the returns our investments are making.

Of course, if you can borrow money cheaply, it doesn't make any sense to cash in an investment but for the cars I am used to buying, I have always found that cash will get me the best deal, the one that benefits me more. If the stealership doesn't play, then I take my business somewhere else.

Cash is still, always will be, king.

[mixmanmash]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

i do both...and as long as you get a decent finance rate, it isn't a bad thing to finance.

for example, my Rio5 rate is 2.49%...my mutual funds made just under 23% last year...had i sunk all my money into the car to "pay cash", i wouldn't have had it earning almost 23% last year (or 21% the year before)...our ET is financed at 0%...for us, paying "cash" (even if we could) would have been much more stupid than financing considering the returns our investments are making.

Of course, if you can borrow money cheaply, it doesn't make any sense to cash in an investment but for the cars I am used to buying, I have always found that cash will get me the best deal, the one that benefits me more. If the stealership doesn't play, then I take my business somewhere else.

Cash is still, always will be, king.

This.  It makes it easy for them.  Less hassle with having to arrange financing, credit checks, etc.  I've also always got the best deal paying cash.  I will sometimes go as far as getting a bank draft or certified cheque for the amount that I am willing to pay.  That usually get's them salivating.

[Sir Osis of Liver]

None of the dealers I've dealt with seemed to care how it was paid for. Cash, captive credit or bank loan, the deal was the same. With low depreciation on Subarus, cheap leases, and the frequency that we change cars, it's cheaper for us to get low mileage leases than to tie up money in what will still be a depreciating asset.

[ArticSteve]

None of the dealers I've dealt with seemed to care how it was paid for. Cash, captive credit or bank loan, the deal was the same.


Essentially correct.  However ....

Bank/Finance Companies pay a Reserve.  Average is $400.

Captives pay nothing.

Cash pays nothing.

[tooscoops]

 here is something no customer ever seems to understand.... if we finance, we still get a cheque for the full amount. it's just from a bank rather than from the final customer.

not only that, but the bank will give us a referral fee for sending them the loan. in the range of 200-1000. so you want to buy your car cash?.. fine, easy. unless the manufacturer is giving an added cash bonus, the dealership makes less selling it to you cash... not only that, but then they have to deal with the mentality of "i just paid you 45 grand, i expect to be treated like royalty!" while you may be different noto, that is as close to a rule as you can get.

a used car, cash is simple and maybe we'll appear to bend more on price... but if you are looking at say a 2013 truck i have on my lot... if i finance, i make an extra 800 (based on total amount financed at my current used rate), so we'll move more on price due to the fact that the total profit will be higher on the financed deal, even if i sell it 500 less than a cash deal.

(and as, our captive used to pay a flat 200... do the others not pay anything?)

[ArticSteve]

(and as, our captive used to pay a flat 200... do the others not pay anything?)

Chrysler has a "captive" 

Nissan/Toyota pay zero. 

[blotter]

that's one thing i actually don't understand.

you'd think dealership wouldn't want cash and the biggest deals would be for financing.

so some places get a referral fee (Chrysler) - and others like Toyota Finance will make interest. 
it may not be much, but it's still more profit than if I paid cash and at the end of the day, like Tooscoops said, the dealership gets the money one way or another.

Less hassle with having to arrange financing, credit checks, etc

we financed the Tacoma.  once you take away the time spent with the finance girl listing out all the potential "extras" and costs...  once everything was agreed on, she asked me about 4 questions, typed it into the computer and 3 minutes later said, you're approved.   the actual "work" involved in the application process to approval took 5 minutes.   

Toyota will make more money over this deal with me financing through them, then if I paid cash.
So i guess that's why I find bigger discounts being offered to cash buyers almost backwards.

[dirtyjeffer]

I'm done with financing vehicles. When my 3 is paid off, that money is going into mutual funds.

i do both...and as long as you get a decent finance rate, it isn't a bad thing to finance.

for example, my Rio5 rate is 2.49%...my mutual funds made just under 23% last year...had i sunk all my money into the car to "pay cash", i wouldn't have had it earning almost 23% last year (or 21% the year before)...our ET is financed at 0%...for us, paying "cash" (even if we could) would have been much more stupid than financing considering the returns our investments are making.

Of course, if you can borrow money cheaply, it doesn't make any sense to cash in an investment but for the cars I am used to buying, I have always found that cash will get me the best deal, the one that benefits me more. If the stealership doesn't play, then I take my business somewhere else.

Cash is still, always will be, king.

not really...as has been shown, the dealership gets paid right away regardless of the method...if you give them $30k in cash (or certified cheque), they have to count the money, or go deposit the cheque...if you finance it, they get that $30k from the bank or finance company...it's all the same to them...and as has been shown, sometimes the dealerships even get a little extra on finance deals....when i bought my Rio5, they gave an extra $500 off if you financed it (so, from the looks of it, they were likely passing the finance kickback to the customer as an added bonus).

[ArticSteve]

you'd think dealership wouldn't want cash and the biggest deals would be for financing.


The only thing the dealership wants is to move the unit over the curb.

Toyota will make more money over this deal with me financing through them, then if I paid cash.

Hardly @ 1.9%/60   Also default rate will lower that number.

[Vanstar]

None of the dealers I've dealt with seemed to care how it was paid for. Cash, captive credit or bank loan, the deal was the same. With low depreciation on Subarus, cheap leases, and the frequency that we change cars, it's cheaper for us to get low mileage leases than to tie up money in what will still be a depreciating asset.

My philosophy exactly. My last two cars were both off 24 month leases and had very km on them, my 2000 TL had only 9,000 km on it when I got it, the 2008 12,000 km. The depreciation on these cars even at two years is not that much compared to most other brands but still worth it used, to the tune of about $10,000 on my '08. My present driver could be easily sold for $14k in Vancouver as it is in mint condition has very low km. I plan to wait two years from an off lease TLX and trade my TL in then, or sell it privately.