2013 and Earlier - Toyota Highlander Prices Paid and Buying Experience

kennynmd

I called a dealer today for a highlander. They told me upfront about the $750 rebate. They also said that this rebate cannot be taken off the invoice price but it will be added on the amount of the deposit if I purchase. Is this correvct or is the dealer playing hardball?

mikefm58

That is correct. That's required for sales tax reasons. The state charges sales tax on the total purchase price, NOT minus the rebates.

keithb1

DC Driver
Thank you for your advice. I just closed a deal on an '03 4Runner SR5 with 26K miles on it for $21,250. I feel like I got a good deal on it. A buddy who is in the business said the Blue book on it was $22,700 Based on the reviews I read about the Highlander I sold myself on it but was unimpressed by the cockpit and towing capacity. The interior did not do anything for me. The 6 cyl. engine is the only way to go with the HL or Camry. Well my search for a vehicle is over with 4 days to spare. Thanks again for your advice and input. Have a great holiday weekend.
Keith

kennynmd

I went with my cousin today to Beltway Toyota in Maryland today for his Highlander. He got a V6 with 3rd row seat and other various options. The MSRP was $28,542. he purchased it for $25,900. The invoice was $25,717. So if the rebate is factored in it comes out to around $550 below invoice. i gues we did OK. Anyways, regardless, he like the vehicle and thats what most important.

scottnrose

We just purchased a silver H/L Limited last night from Darcars Toyota in Frederick, MD. E-mailed & haggled with more than 10 Toyota dealers in the DC/Baltimore area until I was able to buy for either: (1) $30,475 w/ $750 rebate or (2) $31,225 w/ 2.9%, 60-month financing. $573 below invoice w/ 2.9% (if taking the rebate that comes directly from Toyota, to truly compare purchases against invoice, one must lower the invoice price by $750). Truly a good experience at that particular Darcars store - not at the others.

Price includes freight - only additions were tax, title & tags.

Specifics are 4wd Limited in Millennium Silver w/ LA,SR,GY,HD,Z1,EJ,TO,WL,FE.

Looking forward to many years of reliability. Good luck with your search/purchase.

dc_driver

Keith,

  Congrats! I would say that you got a great vehicle at a very resonable price from a legitimate deler that will offer a warranty. Smart man, I have several friends who own 4Runners, and they will easily run strong for 200K+ miles.. They also hold their value..

keithb1

DC Driver
Thanks for your comments. For the most part my first overall buying experience on a car lot was good. If the dealership that had the 'O2 Certified 4Runner had not upped their price after we negotiated a set price I would be driving that SUV. The experience at the Lexus dearlership where I bought the 4Runner was very good. Low pressure, classy atmosphere (marble floors) etc. However, the finance guy did try to charge me $215.00 for license fees when the tags were good till Jan. 05. When he adjusted the charge the fee dropped to $15.00. A $200.00 savings. One last thing. I purchased the 6yr./100,000 extended warranty for $800.00. This should give me some piece of mind. It will be good till Jan. 09 or 74,000 more miles. Well I guess future messages will be on the 4Runner message board. Thanks again DC Driver for your advice and guidance even though we are on opposite sides of the country. However, my heart is in the south having grown up in Richmond. Have a great holiday weekend.
Keith

3boyz3

I finally got my Highlander. Paid $28500, not including taxes, with the following options: FE,EH,SR,GY,TO,AG,CQ,HE,LF,CF,&WL. Taxes, insurance and everything, here in SF are really expensive.

kichan

I have been reading messages on this board for the past few weeks, and the information posted has been very interesting and helpful. I'm interested in purchasing an '04 Highlander, and noticed recently that there are pre-owned Highlanders available from the dealer in my area. My question is, is it possible to negotiate lower prices with a dealer on a pre-owned SUV?

stever

Used car sales are one of the biggest profit centers for a dealer - they're almost always a bigger money maker than new car sales.

So yeah, there should be plenty of negotiating room to get a better price.

Appraise the ride you have your eye on and use that number for your final target.

Steve, Host

kichan

Steve -

I tried the appraisal link, but it only has cars through 2003. I'm looking for a used 2004, as the 3rd row was introduced this year.

Thanks for the advice, though.

stever

Oh yeah, sorry. The '04's won't go to the Used pages until the '05's hit the showrooms.

One thing you can do is appraise it as new, and deduct .15 a mile.

Even better, ask the pros over in Real-World Trade-In Values.

Steve, Host

kichan

OK, so I sent an e-mail request for quotes from local dealers, and one dealer I spoke with told me that the Edmunds TMV, MSRP and Invoice price are very inaccurate, that the information is "stolen" from other sources, and the only correct info is the pricing for the options. He tried explaining this for about 10-15 mins until I finally said thank you for your time and hung up. Has this happened to anyone else, where dealers have challenged Edmunds pricing??

scottnrose

Dealers are notorious for trying to discredit whatever pricing that you bring to them - so this is not a surprise.

I am not so sure where Edmunds gets the "What Others Are Paying" data, however, a couple of other sources for new/used car pricing are www.nadaguides.com & www.kbb.com. I have found, because KBB is owned by dealers, that their "dealer retail" prices are a bit high, while their "private party" & "trade-in values" are a bit low. NADA is usually very accurate.

Good luck.

stever

NADA and Kelley started out as dealer services. Edmunds started out as a consumer service and still caters to consumers.

What is the "Kelley Blue Book" Price?

Our Mission Statement

How We Calculate Used TMV® Prices

Draw your own conclusions :-)

Steve, Host

scottnrose

Oops - sorry Steve. I guess that I should not have mentioned the other services. I really only use them for comparison purposes, but come back here most often because of the wide range of services that Edmunds.com provides. I find that NADA almost always is right in line with Edmunds pricing.

Anyway, my point is that if a dealer is trying to discredit a pricing service, they have less credibility when a consumer can provide supporting evidence of similar prices from more than one source.

stever

It's ok to mention Kelley or Galves or whatever. The next time a dealer offers you a book price though, make sure they pull the right version of the book out of the right drawer (some companies have books for the public and other versions for dealers).

The better dealers will appreciate that you've done your research and will cut to the chase sooner. Saves everyone time and frustration.

Steve, Host

scottnrose

I totally agree. Most of the time and frustration is now spent trying to determine who are those "better dealers".

dsuarez

I deal with very informed buyers. I do not chase around a gross proffit nor am I under pressure to make high gross deals on the Internet by the owners - yes they would like to see large numbers - any business owner would - but they are getting used to the idea of just getting a sale and moving the vehicle.

I offer any vehicle (with the exception of Scion and hybrids) at invoice. I will use all my resources [I can take a look at all Toyota dealerships inventory] to find a vehicle that I do not have on my lot and workout a similar deal on them.

I am new. I am not old school as the salespeople most of you folks reffer to in a lot of these postings. Working on the "inside" I too run into some oldschool ways that I need to overcome when trying to work for a client.

Things are changing and moving in a diffirent direction ...

scottnrose

I am truly glad to hear that things are changing. I sincerely applaud your efforts to improve the process.

However, having just gone through the process of purchasing a 2004 HL Limited, I would like to report that there is a long way to go - at least in the DC/Baltimore area.

I e-mailed about 12 Toyota dealers in the area - 4 never responded, 2 only wanted me to come in before they would provide me with a final price (what's the point of e-mailing??), the other 6 gave quotes via e-mail. I found the lowest quote and asked the others to beat it. Bottom line - none did and each stated that the lowest quote was just a "teaser" and that, once I arrived, other costs would be tacked on. They kept stating "I can't sell it to you below invoice." "I will lose money on this deal." "Don't you think there is something wrong if you can buy it for less than it costs?"

At that point "invoice" became only a general guideline - not a negotiating point. The problem seems to be that there are so many other financial factors like holdback, Toyota incentives for the dealer, dealer incentives for their sales rep, rebates, special financing options, etc. that it is impossible to actually determine what is the true cost to the dealer.

BTW, when I purchased, there were NO games. Price was finalized before I ever entered the dealer. NO pressure in financing, NO pressure for warranties, NO tacked on charges. Just a very smooth transaction.

rusty104

dsaurez - how much over invoice do you think the Highlander Hibrid will sell for?

cfrazier

I am in the market for a new HL and have been pleased with my 2001 LTD. On this go'round, I have visited several dealerships and decided to take a multi-prong approach this time. Largely, in addition to my usual research, I have engaged the quote service offered by Edmunds as well as another website, and recently, a service which guarantees a "lowest" price quote without commital.

One dealership, sight unseen, offered what appeared to be "invoice", others well above that. I have even gone back to the dealer and same salesman from whom I purchased my current HL. Hoping to avoid the banter, I found myself amidst the usual tactics from the dealership... first the salesman, then his manager, then the manager's manager. "I can't sell you this car below 'invoice' because I just won't." Bottom line: left with a duplicate quote for a common LTD HL (LA,GY,HD,SR,EJ,FE,CF) of $31950 (incl. dest. charge but before rebate). According to Edmunds, this price is still approximately four to five hundred above "invoice." They are trying to draw me into their game. I will not play. Before leaving, I gave them actual quotes from other dealerships and the service espousing 'best price.' Left it in their court if they felt they could get more competitive. Perhaps only time (later in the month) may or may not thaw the front.

Don't like the games... and wish more would adapt your approach. Yes, I think the web enables the buyer to be more informed. The industry has taken measures of its own to build in assured profits for the dealerships, which is fine. I am for a dealership making money from the sale. But, don't tell me my information is wrong when multiple sources provide the same information. Ah... the game of cat and mouse. By the way, where is your dealership?

Dealerships visited/solicited: Grossinger, Libertyville, MidTown, Naperville, Evanston

hmurphy

The Carmax in Kenosha, WI, sells new Toyotas at reasonable, no-haggle prices. I bought mine there and found it to be a very straightforward process.

I just looked at their website, and it looks like they're only listing their 04s right now though.

They have a LTD Indigo Ink for $31,246, a black or white LTD for $31,668, and a white LTD w/nav for $33,368.

If the 05's are out now, however, these may not be good deals (if you wait a few weeks though, these may go down even more).

I dealt with all of the same dealers you list in your post, and just got tired of it.

That's why the "this is the price" aspect of Carmax appealed to me. Carmax also offered the current rebate/financing offers available from Toyota.

scottnrose

It seems to me that you should be able to purchase a 2004 HL LTD @ below invoice, especially now that the 2005's are on the lot.

The deal on mine (MSRP=$36,140) was either $30,475 (w/ $750 rebate) or $31,225 (w/ 2.9% TFS financing) including destination. Purchased 8/31/2004.

cfrazier

Thanks hmurphy for your advice. I have checked CarMax in Kenosha as well as in DC/Baltimore (which happened to have the preferred HL). The pricing at CarMax DC is slightly higher than I expected but some of the equipment is slightly different.

I too was somewhat frustrated with the dealers, feeling that I was pushing them but still within reason. Perhaps it was too hard too soon. But I am willing to wait this one out until later in the month. THen, I hope, they will be more receptive. And I realize it may not be the case.

I had my information in hand and they still baulked at it accuracy and reasonableness. I would be happy to buy at invoice w/ the special financing. I am not sure if lower is realistic but willing to push. However, they even argue the "invoice" price which I confirm as the same through various sources (Edmonds and two other services).

Thanks again for your response. Should you think of anything else, please let me know. Counsel always welcomed.

cfrazier

scott: thanks, too, for your note. I am thinking along the same lines as you. As mentioned, I may have pushed to hard too soon, but I prefaced any price discussion with a straight forward conversation about the "process" and my desired approach.

I would be ecstatic to get 31225 w/ the financing for the HL I am after. Oddly, not only was their "invoice" price higher than what I had but launched into discrediting the services such as Edmunds, et al. Just took a deep breath and let it roll off. Guess I will have to play the waiting game. Only time will reveal.

Hey, thanks again for your note.

scottnrose

cfrazier: I'm glad to be of a little help.

I saw that you were looking at the Carmax inventory in DC/Baltimore. If you are thinking about travelling here to pick up a HL, consider www.darcars.com. That's where I purchased. They are a very large dealer on the east coast. Their website clearly lists their prices on new 2004 HL's (now @ $30,375) and they seem to have a few left. I purchased at the Frederick store. The 355 store (in Rockville) is also pleasant to deal with, however, be careful at the Silver Spring store. They match prices from store to store.

About 1 1/2 years ago, I purchased another SUV (which I still have) in Naperville. Flew one-way on Southwest to Midway. Was picked up by salesman and drove back the same day. Trip was rather pleasant.

cfrazier

SNR: Thanks for the additional advice. Have called to DC as well as Kansas City. I will state that Superior Toyota (KC) was the most straight forward of any dealership I have dealt with. They are competitive out of the gate as well as with 2005. No games. Weighing options to buy there (just as competitive as DC- and closer geographically) amidst the different incentives. They have been quite a welcomed change to deal with. May be closing on a deal in the next seven days. Weighing out incentives and interest rates on the comparative deals. Will post the result. Thanks again.

cfrazier

Best quotes to date on 2004 AWD Limited (LA, GY, HD, FE, TO, SR, EJ, CF):
$31850 before incentive (750 or financing)
$31950 before incentive (750 or financing)
$31451 before incentive ($1000)

2005 similarly equipped
$32000

kichan

I'm looking for an '04 base highlander w/3rd row (no sunroof). The lowest quote that I have received so far is $26,500 incl $1,000 rebate, with the following options: daytime running lights, roof rack, engine immobilizer, passenger and side curtain airbags, tow prep package, full size spare tire, mudguards, keyless entry, fog lamps, carpet / cargo mat set.

Is this a good deal, or should I hold out until the end of the month to see if they will go down some more?

sundevil

I bought a Bluestone V6 FWD w/3rd row seats in first week of August for $24920 (including destination charge) with the following options:
AG,CQ,PE,CF,RL,EH,FE

MSRP with the options and destination was $28347. There were no rebates available for the Highlander at that time but I went for the 0% financing.

kichan

Thanks for that info. Is FWD front wheel drive?? I'm looking for AWD, and was quoted MSRP in the low $30's (don't remember the exact price). Also, I live in NY - where did you purchase yours?

sundevil

yes, FWD is front wheel drive. I am in the chicagoland area. You should be able to get a 2004 model ~3.5-4k lower than MSRP. The trick would be able to find the color/option combination that you want.

john13

I looked at HL today.
Here is the deal.
2004 4cyl FWD. FE+RL+QO+MG
MSRP $25,590.00
Selling Price is $22,000.00 + Tax + DMV + Title Transfer.
KBB.com showes invoice at $22,759.00 less rabate.
Dealer is making $241.00 plus hold back.
Should I go for it?
I have until Friday night to decide.
Thank you.

stever

Check the True Market Value too. You want to be at or preferably below it.

Steve, Host

scottnrose

Hi John,
At this time of year on a 2004, you should be able to push the dealer down below invoice. A similarly optioned HL in my area (DC/Baltimore) is running about $21,300 where I purchased (check out www.darcars.com for comparison).

If the dealer has the HL that you want, I would push for a few hundred less. Good luck.

BTW, if they will sell it to you at that price on Friday, they will also sell it to you at that price on Saturday or beyond (if they still have it and no one else is buying).
Scott

john13

Thank you for the replies.
The car got sold on Friday to someone else.
Went to another dealership, offered the same deal, they did not go for it.

cfrazier

John:

Am also still shopping the dealerships. Scott is correct. Presently negotiating w/ dealership on '04 Ltd and am $700 below invoice before incentives. I should note this is for a car at another dealership right now. They would likely be lower if the car I am after was on the lot (nope, they don't share that info as to where the car is presently). So, would encourage you to not give up.

Scott: is this a reasonable amt under at this stage of the game? Curious to know.

c

cfrazier

NOTE: "Invoice Price" is relative and varies with source. If using Emunds as source, current negotiations are under invoice by $300 vs. $700 compared to different source.

dawnee

So are you saying someone should be able to purchase a HL for $300-$700 below invoice now that 05's are out? What is other source you refer to as being a good guideline?

Looking at 04 HL and would love V6 FWD LTD but have trade with loan so I expect to have to settle for V6 base with few extras, if I can even do that. Toyota dealers do not seem as willing to lower prices as other dealerships.

Any advice would be appreciated. I have been researching but still in need of any advice anyone has.
Thanks

sundevil

I got a 04 FWD V6 Highlander for about $750 below Edmunds TMV ($600 below invoice from other sites) in early August (post 1242) so you should be able to do better now that 05 models are out. There were no rebates on the Highlander at that time.

cfrazier

1) Research and know your pricings (options too); Edmunds is good.
2) '05s are out and the picking is getting slim on '04s (except if you are looking for red). You should be able to achieve a price under Edmund's dealer invoice at this stage, particularly if the model you are after is still on their lot.
3) Previous threads have suggested referencing DarCars.com (even though this dealer may not be close to you). You will need to contact dealership to confirm the vehicle's options and if incentives are already applied.
4) Remember, negotiate price of new vehicle first. Exclude consideration of trade; you may want to use a leverage in final stage, if you don't wish to sell on your own;
5) End of month timing is in your favor.

Sundevil's shared experience should also be of help.

c

scottnrose

cfrazier:
$300 below Edmunds invoice is a pretty good deal at this time. You may be able to get a little bit more out of them, but when the HL is not actually on their lot you are at a disadvantage.

BE CAREFUL about a vehicle that is being transferred from another dealer. It may go well or it may not... I have heard of situations where the other dealer already sold it by the time your dealer tries to get it. I have also heard of situations where your dealer plays bait & switch while never having the intention of getting the car that you actually want. Maybe they will try to push a 2005 - I don't know. I'm just saying be careful.

We may be getting to a point in the year where 2004s are becoming scarce. As with what happened to John (above), if many people are looking for 2004s, they may be sold out from under you or the discount may not be as great.

It seems to me that somewhere between $300-500 below Edmunds invoice (not including Toyota rebate) is a pretty good price on a HL. Some have gotten better depending upon individual circumstances (i.e.: special dealer or salesperson incentives at end-of-month, etc.) but almost all have been at the end of a month. The trick is finding that dealer that has your desired vehicle and those special incentives at the same time.

Good luck.
Scott

donmconsult

Options included: AG, CQ, PE, CF, TO, LF, RL and destination charges. Found it on the internet through Marietta Toyota in Marietta, GA.
This has to be my most satisfying experience in getting a new car. Everything that was stated in the specifications was there and there were no hidden costs after I arrived to pick up the vehicle.
Many thanks to the participants on this forum for providing information which aided my search.

scottnrose

Hi Dawnee:
$700 below Edmunds listed invoice might be a stretch. However, $300-500 below should be attainable.

Cfrazier gave some great advice above that I also follow.

I don't know where you are located, but FWD LTDs are not that popular where snow use is likely. In my area (DC/Baltimore) the few that are here can be had for around $29K.
Scott

cfrazier

Scott:
Right you are. Best situation is to have the vehicle on the lot and in front of you. Further, doing the deal via internet and phone does run some risk for the dealer behaviors you describe. Fingers crossed... none are pulled on me. Time will tell.

The '04s are scarce but again if you want red... you can get one. Here and STL have them.

I have come down to a final deal with the dealer and should hear soon. Thanks for your comments and suggestions.

c

zebra21

Tonite I spent far too much time at a dealership in Phoenix and believe I was given a bit of the run around. Has anyone gotten this story: I was given a "dealer invoice" price of $29,035 on an '04 fwd HL w/ FE, EH, SR, GY, TO, AG, CQ, DJ, LP, CF, and N1, but both KBB and Edmunds put the invoice at $27,249. I asked the dealer about the discrepancy and he explained that I needed to add $540 destination charge to the edmunds invoice to get to his "dealer invoice". When I pointed out that there was still a $1,500 discrepancy he claimed that some of it was due to a regional advertising fee. I left shortly thereafter, and came home to the internet to pull the edmunds TMV ($28,188) for this vehicle. Still a ways from "dealer invoice". Is my experience typical or was I correct in assuming that they were blowing smoke in my ear?

Any input is greatly appreciated. Thanks,
Tom

cfrazier

Tom:
Next time, you might need to bring your smoking jacket. There were pricing updates but I believe these have already been reflected in Edmunds's website (and others). What I have found is this: Edmunds base invoice is inclusive of dealer holdback, adv. fee, and wholesale allocation. It is roughly under $1K. But this is for my vehicle and this may or may not be different for yours. Your taking the Edmunds' invoice price and adding the invoice pricing for each option and including the destination fee is exactly what you should do. On an '04, you should be able to AT LEAST get invoice if not get below Edmunds. Having done some homework, you need to be firm and willing to walk away (which you did, good for you!). To remain in business, they are entitled to make every effort to make money on deals. However, you are the only one looking out for your interest in the negotiation.

Read a few threads prior about similar prices for your FWD vehicle. I am under Edmunds' invoice price at this point in my own negotations. It has not been simple to get there, but I was heavily armed (having various sources for pricing/invoice) and pushed. Timing is on your side right now, but keep in the driver's seat (pun intended) on the process. They can either take another month's interest on the asset sitting on their lot or sell it to you.

Others have provided excellent experiential information in prior threads. Good luck.

c

jimxo

Not for me but a good friend. Correct me if I'm wrong but 1.9 for 60 months or 750 cash back? I thought it was 1000 cash back. I think the 1.9 for 60 will be her best deal anyway.

Is $300-500 below invoice possible?

Thanks

scottnrose

Toyota incentives vary by region. You should check the TFS (Toyota Financial Services) Website for the appropriate rebates and financing options in your area. You can link to this from www.toyota.com.

BTW - yes it is possible.