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Toyota Venza Prices Paid and Buying Experience

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  • You'll see that my offer of $32,908 was actually only $23 over dealer's cost, but $258 below invoice. The invoice amount will include both the holdback and whsl fin reserve, so you have to be careful when discussing numbers/offers that you review what's included in the dealer's invoice amount and make sure you're only paying on the dealer's actual cost.

    My offered amount of $32,908 was based on the dealer's cost of the car with desired options, plus destination charge and regional ad fee. I did not include the holdback or fin reserve fee in the dealer's cost.

    People often brag about paying below invoice or paying a small amount over invoice. However, they don't exclude the holdback and fin reserve from invoice. These are amounts the dealer receives from Toyota, so in effect built in "profit" to them, even if the dealer sells the car below invoice amount.
  • For those of you who have been reading my posts about my negotiations for a Venza in the SF Bay Area, Dealer 1 who offered to sell me the 2010 6cyl FWD with premium #2, navigation, moon roof, floor mats and rear bumper protector for $32,900 was unable to locate the magnetic grey with ivory interior.

    Dealer 2 who offered to sell me the exact same car for $32,800 only has it in silver, not the magnetic grey. I was told this car is simply not available in the Bay Area.

    Dealer 1 offered to lower his price to $32,800 if I forgo the bumper protector and take delivery of the car in late January/early February. They have a car that they previously ordered on its way to the dealer. Dealer will provide me with the VIN and Vehicle Inquiry Report.

    Alternatively, Dealer 1 has located a 2010 AWD with premium #2, navigation, moon roof, floor & cargo mats, and tow package that he's willing to sell for $34,200. That's $125 less than dealer's cost (= factory invoice - holdback - whsl fin reserve). This car is available later this week, so I could deduct the sales tax on our 2009 tax return.

    Spouse thinks I should stick with the FWD b/c it's cheaper, gets better gas mileage and we'll never tow anything with our car. Can anyone comment on the gas mileage of the FWD versus AWD Venza? Should I stick with the FWD and forgo the tax deduction? :confuse:
  • Can you walk me through on your Dealer 1 vehicle again please? How did you conclude your price of $32908 was $258 below invoice? I must be missing something here.
    What was the MSRP, Dealer Invoice (before holdback and financial reserve), and dealer net cost on that vehicle?
    According to my calculation, the price you got was $293 over invoice.
    $32908 (offer from dealer 1) - $32615 (invoice) = $293

    NADA has a good options calculator. It offers detail descriptions of each option + mfg codes with MSRP and invoice prices listed.
    http://www.nadaguides.com/default.aspx?l=1&w=20&p=36&f=5010&m=1214&d=19999&y=201- 0&vt=new&s=321469&z=91748&c=20


    MSRP INVOICE
    Base: $28100 $25290
    Destination: $750 $750
    Pkg #2, LX: $4345 $3476
    Navi___NV: $2580 $2085
    Moonroof SR: $1050 $840
    Floormat, CF: $269 $174
    ---------------------------------------------------------
    Total: MSRP$37094 INVOICE$32615
  • Just go with the best OTD... we all pay it.
  • See below for cost detail from Dealer 1. I got these amounts from the Vehicle Inquiry Report sent to me by Dealer 1.

    It's basically the same as yours, but I included regional ad fee and destination charge in calculating dealer's cost, since those are costs they actually pay. Everything I've read says those are dealer costs you should expect to pay, so I included those amounts in my offer. However, I didn't include holdback or whsl fin reserve, since both those are amounts paid to the dealer by Toyota.

    Hope that helps.

    Invoice MSRP
    Base Price $24,447 $28,100
    Factory Holdback ($562)
    $23,885

    Premium #2 (LX) $3,476 $4,345
    Navigation (NV) $2,085 $2,580
    Panoramic Roof (SR) $840 $1,050
    Floor & Cargo Mat $174 $269
    Destination Charge $750 $750
    Regional Ad Fee $489
    Gasoline $10

    Factory Invoice $32,271
    Factory Holdback ($562)
    Dealer's True Cost $32,833
    Profit ($25)
    Neg Price excl TTL $32,808 $37,094
    Document Fees $55
    Tax @ 9.75% $3,204
    License $519
    Drive-Out Price $36,586
  • OTD price varies from state to state, county to county with different tax rates and fees invloved. It's not an apple to apple comparison.
    For example, I am in Los Angeles County @ 9.75% Sales tax. Orange County (that's where Disneyland is) which is only 10 mins away from me is at 8.75%. 1% difference in sales tax on a $32000 vehicle is $320. Therefore, can't just compare OTD prices.
  • OK...Thank you for the detail again.
    That's right, $750 destination and TDA (Toyota Dealer Advertising) fee are fixed cost that must be paid out. We can only tap into the 2% holdback + 1% financial reserve.
    $10 gas is what Toyota pays the dealership for a full tank of gas. So the dealer will actually have to pony up another ~$33.50 to fill-up the tank before we drive off the lot. (Venza fuel tank 17.7gallons, assuming dealer pumps 15gallons to fill up @ $2.90/gallon = $43.50 - $10 credit from Toyota = $33.50 paid by the dealer).

    What bothers me the most now is that Vehicle Inquiry Report generated from the dealership was showing different base price and invoice cost compared with Edmunds, KBB, carsdirect, and NADA. All the web sites have pretty much the same figures, but the numbers from the VIR is showing something different that I could not figure out.

    Why was the Factory Invoice showing $32,271? How was that derived? Have you tried to figure out the numbers? No matter how I add or subtract the numbers from base price or from MSRP, nothing adds up to $32271. Maybe you can shed me some light.

    And why did you subtract the holdback $562 from $24447 then add the holdback back to the said factory invoice again? $32271 + $562

    From what I know, 2% holdback and 1% financial reserve are the money dealerships want to keep behind the scene away from the negotiating table. They won't want to share those 3% with the customers unless there's huge inventory pressure. Which is not the case for Venza. So, for that reason, I look up the invoice cost as suggested by the major auto web sites such as Edmunds and use that invoice cost as invoice baseline and not from the Vehicle Inquiry Report.

    Copied from NADA site for reference:
    Invoice MSRP

    BASE PRICE
    $25,290 $28,100


    DESTINATION CHARGE
    $750 $750


    OPTIONS
    $6,575 $8,244


    TOTAL
    $32,615 $37,094
  • If you were to purchase a car for 32K OTD from dealer A or the same car (apples to apples)for 33K OTD from dealer B... which would you choose?
    Some people will get bogged down with invoice, MSRP, fees etc.... but at the end of the day you will purchase for an OTD price.
    So why not shop OTD price?... we ALL pay an OTD price.
  • The problem is.... chance of finding the same Venza with same MSRP from two dealerships is extremely low. Venza supply is tight.

    I am having similar issue with jkim. Very difficult to find a white Venza with package #2 in stock. Therefore, negotiation so far hasn't been fruitful. Offering below invoice is out of the question. They just won't sell their only white Venza below invoice. The manager wouldn't give up that easily. They know in a week or two someone will walk in to the dealer and offer a higher price. If they had 5 of the same vehicles in stock, I am sure there's room to talk.

    Now I just learned the invoice cost shown on Edmunds and Dealership Vehicle Inquiry Report were different. The Dealership VIR adds TDA and gas as part of the invoice cost. Even more variables to negotiate.
  • I got it now... I just had a chat with one of the dealership internet managers. The dealership Vehicle Inquiry Report (VIR) adds TDA + Gas as an add-on cost to the vehicle invoice cost. That's why it was showing a different invoice cost compared with Edmunds' invoice cost. Attached at the bottom is one of the VIRs on a Venza 2812 black with Leather, Navi, Moonroof, floormat/first aid kit (Z1).

    Invoice cost:
    NADA: $31214
    VIR : $31555.84
    ----------------------------
    Difference: $341.84

    VIR adds TDA of $331 (for LA region) + $9.84 (gas) = $340.84

    Summary:
    In determining how much you are paying from invoice, please define which invoice cost you were referring to. I was strictly going by the Edmunds' figures and never accounted for the TDA & gas, which I didn't think it should be an add-on cost to the dealer's invoice cost.

    Anyone has any thoughts on paying the TDA (Regional advertising fees) in addition to invoice cost? Is that a normal business practice from Toyota? When I was buying Honda / Acura, advertising fees and gas were never part of the negotiating factors.

    ------------------------------------------------------
    Copied from NADA:
    Invoice MSRP

    BASE PRICE
    $25,290 $28,100


    DESTINATION CHARGE
    $750 $750


    OPTIONS
    $5,174 $6,522


    TOTAL
    $31,214 $35,372

    -------------------------------------------------------

    xxxxx VEHICLE INQUIRY REPORT DATE: 12/24/09DCV920 TIME: 15:18 Model Number: 2812A SERIAL # :xxxxxxxx Check Code: 9 Model Description: V6 5-DR SDN FWD Category ..........: A Year ............: 2010 Current Dealer ....: xxx-xxxxxx Interior Color ..: LA01 LA01 Wholesale Dealer ..: Exterior Color ..: 0202 BLACK Previous Dealer ...: 0xxxx Body ............: V6 5-DR SDN FWD Number of Cyl ...: 6 VIN .............: Ignition Key.....: Factory Installed Accessories: FE CQ LA NV SR Port Installed Accessories ..: Z1 MECHANICAL & PERFORMANCE3.5L V6 DOHC 24V w/ Dual VVT-i6-Spd Auto ECT-i w/ Sequential Shift20" Alloy Wheels w/P245/50R20 TiresElectronic Power Steering (EPS)4-Whl Disc Brakes / 4-Whl Ind SuspensionSAFETYStar Safety System includes: Vehicle Stability Control w/ TRAC Anti-Lock Brakes w/ EBD & Brake AssistDr & Fr Pass Advanced Front AirbagsDr & Fr Pass Seat Mounted Side AirbagsSide Curtain Airbags & Dr Knee AirbagDr and Front Passenger Active Headrests3-Point Seatbelts w/ ALR/ELR Pass BeltsLATCH(Lwr Anchor & Tethers for Children)for Outboard Rear Seating Positions OnlyDirect Tire Pressure Monitor SystemEXTERIORRear Spoiler w/ Integrated LED Stop LampProjector Lens Halogen HeadlampsDaytime Running Lights with Off SwitchIntegrated Fog Lamps / Dual ExhaustRoof Antenna w/ Integrated SAT AntennaFront Variable & Rear Intermittent WiperCOMFORT & CONVENIENCEFront Dual Zone Auto Climate ControlSystem w/ Air FilterAM/FM CD w/ Integrated SAT, USB Portw/ iPod Connectivity, Hands-free Phoneand Music Streaming Via BluetoothMP3 Player Holder w/ Wire ManagementReclining Fold-flat 60/40 Rear Seat w/Armrest and One-Touch Fold-flat Function3.5-inch Multi-Information DisplayPower Multi-Adjustable Driver''s SeatCtr Console w/ Sliding Cover / Armrestand Dual Illuminated Cup HoldersTilt/Telescopic Steering Whl w/ControlsEC Mirror, Compass and HomelinkPwr Windows w/ 4 Door Auto Up/DownRemote Keyless Entry and Cruise ControlRr Personal Reading Lamps and Air Vents Retail Dealer TotalVehicle Base Model ..........................:$ 28100.00 $ 24447.00 $ 28100.0050 State Emissions .........................Convenience Package - ...................... 860.00 688.00Includes Smart Key System with Push Button .Start, Power Rear Door with Jam Protection .and Chrome-Accented Door Handles ...........Leather Package - .......................... 1600.00 1280.00Includes Leather Seating Surfaces, 4-Way ...Power Front Passenger Seat with Lumbar .....Support, Satin Mahogany Wood-Grain-Style ...Interior Trim, Leather-Wrapped Steering ....Wheel and Leather-Wrapped Shift Knob With ..Satin Mahogany Wood-Grain-Style Inlay ......Voice-Activated Touch-Screen DVD ........... 2580.00 2085.00Navigation System with JBL Synthesis .......Surround Sound AM/FM 4 Disc In-Dash CD .....Changer with Integrated XM Satellite Radio .and XM NavTraffic with 3-Month Trial .......Subscription, MP3/WMA Playback Capability, .USB Port with iPod Connectivity, ...........Hands-free Phone Capability and Music ......Streaming Via Bluetooth Wireless ...........Technology, FM Diversity Reception and 13 ..Speakers ...................................Panoramic Glass Roof ....................... 1050.00 840.00with Front Power Tilt/Slide Moonroof .......Preferred Accessory Package ................ 434.00 282.00 --------- --------- ---------Total Accessories ...........................: $ 6524.00 $ 5175.00 $ 6524.00Destination Charge ..........................: $ 750.00 $ 750.00TDA .........................................: $ 331.00Gasoline ....................................: $ 9.84Dealer Holdback .............................: $ 562.00Whsl. Financial Reserve .....................: $ 281.00 --------- ---------Total .......................................: $ 31555.84 $ 35374.00
  • Sunnyvale Toyota
    recommend you buy b4 yr end - get the tax deduction
  • Thank you all for your help and sharing your precious buying experience/prices. I finally pulled the trigger on the Venza last night. Just in time for tax deduction. Venza V-6 in the Los Angeles is quite allocated, and it's hard to locate one with the option packages and color I wanted. Thus, making the negotiation process difficult. If there was more inventory available, I am sure obtaining a lower cost wouldn't be an issue.
    I took delivery of the vehicle at online invoice cost. Which was different from the dealer invoice. Dealer Invoice adds TDA (regional advertising fees) + gas to the equation. For LA region, that's $340.84 difference. ($331 TDA + $9.84 Gas).

    If you can get any Venza V6 at below online invoice prices, you got yourself an awesome deal. Good luck shopping!
  • Congratulations on your V6 purchase, Actionjh! Sorry for not responding to your previous posts regarding Venza pricing, but I haven't been on-line much during the holidays.

    I wasn't able to locate a FWD V6 with the colors and options I wanted, so I decided to wait on the car that Dealer 1 expects to receive in late January/early February. I'll miss the deduction for sales taxes that ends 12/31/09, but I decided it was worth waiting on the car that I really wanted, especially since I plan to drive my Venza for a very long time.

    I hope you enjoy your Venza and continue posting about your experiences with your new car!
  • Just shop OTD.. we all pay it.
  • No problem at all. Thank you.

    Have you tried searching your Grey Venza in the L.A. area? Might have better luck.
    Hopefully by Feb when the demand tapers off, you will be able to negotiate a better deal if the inventory piles up.

    There were 3 other Venza V6 on the lot, but they weren't fully loaded like the one you want having LX, NV, SR, and CF or Z1. Will let you know if I come across any.

    I also plan to drive the Venza for a long time. Just purchased Toyota Extra Care Platinum from Midwest Superstore. Hopefully this 8yr coverage is worth the investment.
  • I wish buying Toyota is as simple as Honda.

    Everything being equal, yes, the easier way is to shop OTD. However, when dealing with vehicles with different options and difference MSRP/Invoice prices, shopping for OTD would not be a comprehensive comparsion.
  • mlinenbmlinenb Posts: 10
    I picked up a Venza today and I think the price was very fair.

    2010- V6 FWD
    Premium Package #2
    Navigation
    Panoramic Roof
    Tow Prep Package
    Carpet Mats
    Accent Stripe
    SE Destination Surcharge $25
    Drop Hitch Receiver
    MSRP- 38,017
    Invoice- 33,818
    I paid 32,600- plus 589.50 doc fee, plus tax, tag, title. Along with oil change/all service at 5k and 10k miles and a full tank of gas.

    Even with doc fee- I'm thinking I paid less or very close to less than what they paid for it. It was a cash deal, no trade in.
  • Hi jkim069:
    Congrats on closing the deal before year end. Glad you got a good deal. There were a lot of people at the dealership when I picked up the car on the 31st. The fleet manager was so busy that he basically just handed me the key, sign here and ready to say bye to me. Didn't even bother to show me features on the car. I understand he wanted to get back to close more deals. We shook hands and that was it.

    On the way driving back home, I noticed a light clicking noise from the tranny around 1-2mph and car sitting at stop light has noticeable vibration coming from the brake pedal and the steering wheel. Is that normal? I expected Toyota to run very smooth. Has anyone experienced the same thing? (I'd owned 2000 Acura 3.2TL and 2008 Honda Odyssey). This is the first Toyota for me. Kind of disappointed on the rough idle.


    $589.50 doc fee? Was that a typo?
  • Dealer 1 didn't ask me to sign any paperwork or provide a deposit for the car scheduled to arrive later this month, so hopefully I'll actually get to purchase the car for the agreed-upon price. He seems pretty up and up compared to the some of the other salesmen I heard from here in the Bay Area.

    The estimated license fee is $519, the document fee is $55.
  • mlinenbmlinenb Posts: 10
    I haven't felt the tranny noise you are mentioning- but I only have driven my car about 40 miles so far. Yeah- that was the document fee- $589.50. All the dealerships around here (GA area) have doc fees in the $500 to $600 range. One sales guy called it the 'boss's retirement fund' and it's pre-printed on the final sales invoice. Still adding in the doc fee- getting the car for $600 under invoice, the end of the year tax credit, 2 oil changes/and all other service work at 5k and 10k, and a tank of gas seems like a fair deal. Oh- they tax the doc fee too- so it's really a $632 doc fee! You have to negotiate appropriately realizing this huge junk fee add on.
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