New 2011 here
11-04-10, 05:58 PM
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New 2011 here
The dealer called yesterday and said they "wanted to buy our 2008 RX350", so we decided to play along. The lease is up in Jan anyway. My wife came along and she says no to everything, so we just kept saying no until they gave us a hell of a deal.
Long story short, we came home with a 2011 350, AWD, Prem, Comfort, NAV, 12 speaker stereo, 19" wheels, towing prep and some assorted other things.
The thing I noticed right off the bat is that its quieter than our old car. My wife's very happy so, that means I'm happy. Now to start playing with the gadgets...
Long story short, we came home with a 2011 350, AWD, Prem, Comfort, NAV, 12 speaker stereo, 19" wheels, towing prep and some assorted other things.
The thing I noticed right off the bat is that its quieter than our old car. My wife's very happy so, that means I'm happy. Now to start playing with the gadgets...
11-05-10, 07:22 AM
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The car has the parchment leather (tan) interior with a dark brown dash.
The deal was essentially $400 under invoice, 0 fees, 0 down, just the first months payment due. They claimed to use the buy rate money factor, and said that they didn't mark it up. I haven't tried to calc back into their numbers, nor was I concerned with them as our whole negotiating involved, "I don't have any money to give you, and I can afford to pay more than I do right now." Both of which are true.
They took our 2008 RX350 with NAV and Prem and 29K miles on it. Residual on that car was $25400 and the KBB for good trade was about 25500...so maybe they'll make money on that. This is the second car we've bought from this dealer. I don't know if that affected their inclination to sell to us.
The deal was essentially $400 under invoice, 0 fees, 0 down, just the first months payment due. They claimed to use the buy rate money factor, and said that they didn't mark it up. I haven't tried to calc back into their numbers, nor was I concerned with them as our whole negotiating involved, "I don't have any money to give you, and I can afford to pay more than I do right now." Both of which are true.
They took our 2008 RX350 with NAV and Prem and 29K miles on it. Residual on that car was $25400 and the KBB for good trade was about 25500...so maybe they'll make money on that. This is the second car we've bought from this dealer. I don't know if that affected their inclination to sell to us.
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11-05-10, 07:33 AM
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this is fixed by Toyota Financial Services and based on your credit score. how can they try and mark this up? it's like the *dealer* saying they will mark up the interest rate on a loan.
11-05-10, 07:54 AM
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I don't know about interest rates on loans, but with MFs it happens all the time. I've definitely had dealers use an incorrect MF when working up a lease for me. Now maybe in the end they use the correct MF and just lower the cap cost with the result being the monthly payment stays the same, but Ive called them out on it.
11-05-10, 07:58 AM
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Actually, that's an interesting question that i'd like to know the answer to. I wonder if theres anyone on the board whos worked as a Finance manager at a dealer who can confirm or deny that this happens.
But, if you look at the second post on this page, item #5 does say dealers mark up MFs. That post was by one of the hosts of the edmunds forum.
But, if you look at the second post on this page, item #5 does say dealers mark up MFs. That post was by one of the hosts of the edmunds forum.
11-05-10, 08:11 AM
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oh wow, apparently they can mark up the money factor.
http://www.carbuyingedge.com/categor...aler/1/article
i wonder if that's a common practice. when i negotiated my lease, i asked all the dealerships what the monthly payment would be. i knew the money factor beforehand, so i roughly calculate my payment (i was off by $5 across the board). when i finally pulled the trigger, i verified the money factor on the paperwork and it was the same number i had gotten before i walked into the dealership.
http://www.carbuyingedge.com/categor...aler/1/article
i wonder if that's a common practice. when i negotiated my lease, i asked all the dealerships what the monthly payment would be. i knew the money factor beforehand, so i roughly calculate my payment (i was off by $5 across the board). when i finally pulled the trigger, i verified the money factor on the paperwork and it was the same number i had gotten before i walked into the dealership.
11-05-10, 08:22 AM
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oh wow, apparently they can mark up the money factor.
http://www.carbuyingedge.com/categor...aler/1/article
i wonder if that's a common practice. when i negotiated my lease, i asked all the dealerships what the monthly payment would be. i knew the money factor beforehand, so i roughly calculate my payment (i was off by $5 across the board). when i finally pulled the trigger, i verified the money factor on the paperwork and it was the same number i had gotten before i walked into the dealership.
http://www.carbuyingedge.com/categor...aler/1/article
i wonder if that's a common practice. when i negotiated my lease, i asked all the dealerships what the monthly payment would be. i knew the money factor beforehand, so i roughly calculate my payment (i was off by $5 across the board). when i finally pulled the trigger, i verified the money factor on the paperwork and it was the same number i had gotten before i walked into the dealership.
11-05-10, 03:42 PM
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The car has the parchment leather (tan) interior with a dark brown dash.
The deal was essentially $400 under invoice, 0 fees, 0 down, just the first months payment due. They claimed to use the buy rate money factor, and said that they didn't mark it up. I haven't tried to calc back into their numbers, nor was I concerned with them as our whole negotiating involved, "I don't have any money to give you, and I can afford to pay more than I do right now." Both of which are true.
They took our 2008 RX350 with NAV and Prem and 29K miles on it. Residual on that car was $25400 and the KBB for good trade was about 25500...so maybe they'll make money on that. This is the second car we've bought from this dealer. I don't know if that affected their inclination to sell to us.
The deal was essentially $400 under invoice, 0 fees, 0 down, just the first months payment due. They claimed to use the buy rate money factor, and said that they didn't mark it up. I haven't tried to calc back into their numbers, nor was I concerned with them as our whole negotiating involved, "I don't have any money to give you, and I can afford to pay more than I do right now." Both of which are true.
They took our 2008 RX350 with NAV and Prem and 29K miles on it. Residual on that car was $25400 and the KBB for good trade was about 25500...so maybe they'll make money on that. This is the second car we've bought from this dealer. I don't know if that affected their inclination to sell to us.
How much did your insurance go up?
