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2013 and Earlier - Toyota Highlander Prices Paid and Buying Experience

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    mtpulsarmtpulsar Member Posts: 10
    Just got the following Limited 4WD (MSRP: $38,884) with:
    6-CD stereo, heated front seats, power rear door, special color, rear AC, color-keyed spoiler, moonroof, tow prep pkg., cross bars, carpet/cargo mats.
    Negotiated price: $35,723 (+ taxes & registration, $7 tire tax and $149 "doc fee"). AND my last 2 lease payments on my current vehicle ($765) paid off.
    Buying experience: The negotiated price was supposed to be $1000 over invoice. But I came to find out that their "invoice" included the following: $500 (TDA), $10 (gas), $683 (holdback), $341 (wholesale financial reserve). So I "walked", only to come back 2 weeks later because several other dealerships would not do anything on the lease, nor did they have any limiteds with the options and color I was looking for. The way I see it, I netted about $3750 off the MSRP for a popular, late model vehicle that was recently released, and that I'm very happy with.
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    mtpulsarmtpulsar Member Posts: 10
    Hello Lucky,
    I balked at the Platinum warranty. Dealer wanted $900. Can you provide the contact info on the warranty? BTW: I posted my "Price Paid and Buying Experience" under the subject: "2008 Limited 4WD in Northern NJ" (I also added a part 2).
    Thanks
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    mtpulsarmtpulsar Member Posts: 10
    Almost forgot...
    I also got 5.75% financing from TMC. This is important to note since they will quote you a rate as much as 2 points higher than market, even if you are "Tier 1". I got a rate below 6% from my bank (though it also came with a $200 fee), and when I go to pick up the car with bank check in hand, the TMC rate dropped to 5.75%.
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    eastwingeastwing Member Posts: 78
    Is TMC = Toyota Motor Corp? Is it a 60-month loan?
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    eastwingeastwing Member Posts: 78
    A very decent deal, but I think it is a good one for the dealer, too. I calculated that the invoice price is at $34,213, so it is $1510 over invoice, and the dealer profit is $1510 + $683 holdback = $2,193, roughly a 6.54% profit margin (2193 / (34213 - 683)). It is nice for them to pay off your two months' of lease, but they take back the car anyway (I guess), so they may make more profit if they can quickly sell this lease return.

    But any way, given the demand/supply, it is not a bad deal at all. Enjoy the car! I will get mine too soon.
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    levu80levu80 Member Posts: 1
    Hi

    I just bought the Limited 2WD with
    EJ -JBL/Bluetooth.
    QR -auto rear air.
    HD -Heat seats.
    BP -Power Back Door
    PC -Special Paint
    WT -Window tint
    P4 -Vehicle shielding

    The price is 33,000 + TTL
    Since the car is back order. The invoice from edmunds is 31777$ with options.
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    lucky_777lucky_777 Member Posts: 205
    I bought Extended Warranty from Midwest Superstore in Kansas

    http://www.midwestsuperstore.com/

    This is Toyota Extra Care Platinum that is supposed to be honored by any Toyota dealer in the US. I don't think it is a refundable version. They are still processing it and I'm supposed to get confirmation from Toyota Financial Services once it's complete.
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    krysskryss Member Posts: 2
    Over the weekend I picked up a FWD Sport Trim, Silver, with the following (in SoCal):
    Homelink
    Navigation
    Power Rear Door
    Anti-theft w/ Engine Immobilizer
    Manual Rear Air
    Tow Prep Package
    Carpet, Cargo Mat

    I paid $32,260 + TTL, which they told me was $500 over invoice, but my calculations show an extra $362 in there somewhere. However I think I still got a great deal.

    My question is that they are trying to sell me the Platinum 7 yr/100K, no deductible warranty for $1265. When I showed them the Bernardi Warranty for $580 they said it is a third party and that I will have problems with it as they likely will disallow any claim I put in. I also told them about the Kansas store, and the dealer said , "well that won't be good in California". Is this all bull? Will the Bernardi Warranty be the same coverage with no problems?
    THANKS!
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    lucky_777lucky_777 Member Posts: 205
    This was already discussed before in Extended warranty thread. If you buy Toyota Extra care warranty your car will be covered nationwide. Simple argument... Lets say you travel out of state on vacation and your car brakes down. Would you tow it back to your home dealership to get it fixed? What happens if you relocate? Any Toyota dealer will be able to see that your car has extended warranty by the VIN number. Call Toyota Financial services at 800-228-8559 and confirm. Let us know what they say.

    BTW Bernardi states that warranty they sell is not a "Bernardi warranty" but Toyota Extra Care "Backed by Toyota Motors USA Honored Nationwide by All Toyota Dealers"
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    mtpulsarmtpulsar Member Posts: 10
    TMC is Toyota Motor Credit. And the 5.75 was for 60 months (should have mentioned that before). They did not take the leased vehicle. The difference between the residual value (aka, buyout) and the blue book value about $3,000, so they really did not want to take ownership of the car. Not sure why they simply did not take the 2 payments off the price of Highlander. I guess from a Toyota standpoint, by doing this, the car is technically selling at the aforementioned profit margin.
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    krysskryss Member Posts: 2
    I thought I had read most of the thread - sorry for repeating questions. I did call Toyota Financial and they said just to make sure the agreement is covering the same things and it is definitely nationwide. Sounds like Bernardi can just be that cheap because they sell volume over the internet. I was just feeling nervous about it, so thanks for the help and advice.
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    lucky_777lucky_777 Member Posts: 205
    If you want to shop around for Toyota warranty then try all these

    Midwest Superstores (Kansas, area code 620)
    Mechanicsville Toyota (Virginia, area 804)
    McGeorge Toyota (Virginia, area 804)
    Stones Toyota (area code 208)
    Dan Porter Toyota (area code 701)
    Greenfield Toyota (Mass)
    Crown Toyota (area 785)
    Toyota City (area 763)
    ToyotaWarranty.com

    Ask to talk with someone from financial dept.

    I think you need to pay sales tax if you buy warranty in your home state (another reason to buy it out of state). As I said earlier Midwest Superstore was the lowest for me.
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    tgmorristgmorris Member Posts: 2
    Are the invoice numbers available via edmunds and kbb reasonably accurate? I ask because I've been searching and more than one dealer has an 'invoice' price that's significantly higher than what's available online. My guess is they are adding in the cost of prep and stuff to inflate it and it doesn't accurately reflect what they actually paid for the vehicle.

    Makes it tough to negotiate when things are being cut pretty fine. As an example I was looking at a Limited 4x4 with an MSRP of 42,411 and an invoice of about 37,130 (I couldn't get the exact match but it should be pretty close) and the dealer was saying their invoice was 38,157 (which he lowered to 37,857) after we started talking real offers. They mentioned dealer prep and nitrogen fill, etc. which I know are simply profit adders. They finally turned down my invoice+2% (which is really closer to invoice+4% based on my number) so I'm still looking.
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    rzepa1rzepa1 Member Posts: 55
    Since the Edmund's MSRP is the same as MSRP on toyota.com, my believe is the Edmund's invoice is correct. The dealerships play silly games to get more money out of you. I am going to one tomorrow. See how it goes.
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    shoreladyshorelady Member Posts: 13
    If you live in the new york/new jersey area all of the dealers are adding at least $500 over invoice of Edmunds to cover the cost of their advertising.I just bought a highlander & spoke to someone in the business & that is why the numbers are higher. Possible other states do not do this but not in the NY/NJ region. A good price you be 500 over edmunds invoice plus another 300 to 500. Hope this helps
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    rzepa1rzepa1 Member Posts: 55
    Ok. Finally got mine. OTD price was 32.6K. Sand with Black interior. MSR is 33.7K (Edmunds invoice 29.7K). However, I got more on the trade in than I expected so overall the deal was much sweeter for me. Oh, yes I am also getting auto dimming mirror/compass for free (part+labor).

    Good luck to you all.
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    haha0002haha0002 Member Posts: 1
    We just purchased the above for $31,561 off the lot. They had it on sale for 32,361. We shopped around, but noone could match the price with the following options:

    JBL 6-disc cd & bluetooth
    Cold Weather Pkg.
    Anti-theft
    Homelink
    Power Moonroof
    Tow Prep Pkg
    Carpet/cargo mat - 3 row seating
    Wheel locks

    Also held out for KBB trade-in value on our present vehicle. That, plus 5% financing over 72 months - not through Toyota. It's a great vehicle, I love it. Thanks to all for the Platinum Warranty information - we didn't purchase one from the dealership and were quoted $1390. Glad to hear we can get it for a lot less from elsewhere. I get tired of hearing about the dealerships financial hardships, when I'm sitting on a leather couch in 10,000 square feet of prime real estate with floor to ceiling 2 story windows!
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    pwmusicpwmusic Member Posts: 5
    I just purchased a 08 base model with sun/moon roof and the towing prep package OTL for $30,500. They took my Ford Explorer 02 Eddie Bauer that's in fair condition (104,7k) miles in for a trade-in at 6,500. I purchased the 100k/7yr warranty for $1,600. Leaving me with a 26k balance to finance. They said if I sell the vehicle before the 100k/7yrs they will pro-rate it and give me my money back.

    How do I figure out the price in which to negotiate from? How do car salesmen make money off my sale? I'm just curious if I made a good decision or an ignorant one. And ultimately how much money they made off of my sale?

    Thanks,
    Paul
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    lucky_777lucky_777 Member Posts: 205
    @Paul

    You didn't say if your HL is 4x4 or 4x2. Does it have 3 rows of seats? Salesman did pretty good on this sale. Look on edmunds.com for invoice + destination price. You could buy same extended warranty for $650-700. Read on in the "prices paid" and "extended warranty" threads
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    thegman230thegman230 Member Posts: 17
    You got ripped but good. Sorry to hear
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    eastwingeastwing Member Posts: 78
    I went to request a quote from a dealer but the dealer does not have the color and options combination I look for. But the dealer asked me to put in deposit and they can get what I want in next allocation. They said I can pick any color I want and it will take 6-8 weeks to deliver.

    Anyone knows how dealer allocation works? I am not very sure when they say I can pick any color, because (as I understand) dealer allocation is routine deliveries rather than custom orders; and we can only pick from whatever available in the next delivery rather than pick ANY color. I am a little concerned because the color we like, cypress pearl, is not a very common color and we really don’t want to wait much longer….. Anyone knows more about this allocation thing and can share?
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    shoreladyshorelady Member Posts: 13
    I am not sure where you live but in the new york/newjersey area Dealers swap cars all the time with each other. However a certain color may be harder to get especially if it popular. If you are flexible about options you should get it. Good luck
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    eastwingeastwing Member Posts: 78
    Limited 4x4 with all factory installed options (except special paint), plus 3-row floor mats (CT) and Exhaust Tip by Valor (E5). MSRP is $42,129, invoice price per MSN autos is $36,979, and the negotiated price is $37,679, $700 above invoice. But according to the sales person, they have to pay Toyota extra $510 as marketing fee, so they only make $190 from me. There is no way I can confirm this, but the sales man seems to be a nice and down-to-earth person. I feel no reason to disbelieve him.

    How is this deal?

    For me, it would have make it a much sweeter deal if I could pick up the car right way from the lot rather than now told to have to wait for 6-8 weeks, plus some uncertainties from this whole fishy dealer allocation thing (see my post above)…
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    toyseekertoyseeker Member Posts: 81
    My experience is if you generate your options list from the toyota.com website based on your dealers zip code (ie. stick to the normal configurations) AND your dealer sells a good number of Toyota's per month, then you have a very good chance of getting the allocation. I've gotten two cars this way.. 3 weeks wait for one, 5 for the other.

    The allocation is at the port where they decide which cars get trucked to each dealer. Your dealer can usually influence this if they can show that they will sell it immediately.
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    rzepa1rzepa1 Member Posts: 55
    They do and they do not. I was told by one dealer to make deposit to get color/options I get by him swapping cars with another dealer. I told him to tell me what is avail out there to swap and he said (after checking) nothing and I would have to wait 4-6 weeks. Few calls on my own later I found a dealer 20 miles from my house with the car I wanted.

    If you live near large metro, with multiple dealers, it is just the best to wait and see what they getting weekly. I observed that every dealer was getting 1-3 HLs weekly.
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    eastwingeastwing Member Posts: 78
    Thank you and Rzepa1 for the information. you said "your dealer can usually influence this if they can show that they will sell it immediately." - I hope this is the case because I put in my deposit already. I will come back to share when/if I can the car. I am in Minnesota.
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    shoreladyshorelady Member Posts: 13
    Price your car out on Edmunds .com & then add about 500 for advertiseing. this is the true invoice price.I do not think that the dealers are leting these new cars go for only 190 profit........
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    kdhspyderkdhspyder Member Posts: 7,160
    This is not true. As the prior poster noted the vehicle price depends on how the Highlander is equipped. Base models aren't really 'base'. In any event $30500 for an 8 week old Highlander doesn't seem excessive or low.

    Now the Extended Service Contract is another question. A good rule of thumb is roughly $1000-$1200 for that insurance policy. $1600 is usually the 'list price' but it can be discussed. OTOH if there is a warranty issue at 80000 miles costing $5000 like I had then the peace of mind is priceless.

    To the OP a Toyota store normally makes about 8% on the MSRP if that's what you paid. Most retail outlets look to make 20-100% on what they sell. The difference is the unit price and how much investment is needed to put a product in the public eye. A $400 suit may have a 100% markup. A $30000 vehicle has an 8% markup. But a retailer of suits normally has no investments in land or equipment, only rent.
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    mackabeemackabee Member Posts: 4,709
    They clubbed you like a baby seal! :sick: image
    You made his mortgage for the next two months, ;)
    image
    Should have done your homework.! :shades:
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    mackabeemackabee Member Posts: 4,709
    Don't take the above seriously. I'm just kidding. Really.
    ;)
    Mackabee
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    wvgasguywvgasguy Member Posts: 1,405
    I'm just curious if I made a good decision or an ignorant one.

    If you've already made the deal I'm not sure why you really want this one debated in public. A good deal is one you smile about when you drive away.
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    pwmusicpwmusic Member Posts: 5
    Yes the HL is a 4x4. It has 3rd row seats. I should have waited on the warranty it looks like. dang. I do know my Explorer was due to have a transmission replaced so I guess I saved $3,000 there.
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    thegman230thegman230 Member Posts: 17
    Listen folks. EVERY invoice price that they have or tell you is NOt really what the true dealer cost it. YOU are paying for the advertising, holdback and financial reserve PLUS any amount over the fake invoice. The real invoice is without those 3 things above. Now, a great deal would be $500 OVER the FAKE invoice price (real invoice + holdback+ TDA +financial reserve). They are making PLENTY on you. They wuill get the additional holdback from the manufacturer PLUS the holdback YOU just paid in the " fake" invoice PLUS the financial reserve PLUS whatever they charged you OVER the FAKE invoice. I purchase a limited 4x4 with everything BUT nav and DVD entertainment PLUS added 3 row carpet floormats and my price was $34950 + tax and tags ONLY. That included destinatination included in the FAKE invoice price + $500 totaling the amount above. This was in the NY area and the color is Gray with Grey interior. I remember that the fake invoice price had $510 for advertising, $250 or so for financial reserve and $680 or so for holdback. I paid those fees + $500 for the total above
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    eastwingeastwing Member Posts: 78
    Where can I find the REAL invoice? Is the invoice in Edmunds or MSN autos the real invoice or the inflated one? I paid MSN autos invoice (which is about $20 something above the Edmunds one so they are really the same) plus $700. According to the sales man, this is 190 above their real cost. He said they have to pay the $510 marketing fee to Toyota and this is not included in the invoice number I found on line and showed to them.
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    rzepa1rzepa1 Member Posts: 55
    Funny thing you say that. I was shown similar invoice with the three items (hold back\advertising\fin. reserve adding up to ~$1500)which were added to Edmunds invoice as the REAL invoice. No one could even explain to me what the financial reserve is for. Well, what do you do now if you really want the car, do you call them liars and fabricators ? At the end, as I stated previously I got ~$1000 over EDMUNDS' invoice and good trade in on GM car with well over 100K miles. Happy as can be.
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    lucky_777lucky_777 Member Posts: 205
    Edmunds invoice + dest on my 4WD Base was $26320 plus 3 row floor mats "CT"? - edmunds doesn't show them as an option but they should be worth at list $150. I paid $26000 plus $250 mandatory state doc fee, tax and title. Go figure...
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    kyfdxkyfdx Moderator Posts: 237,153
    Be nice now!!

    Don't make me take away your mouse! ;)

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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    donnieodonnieo Member Posts: 12
    I spent $12.00 and got all the info from Consumer Reports. Well worth it IMO. The numbers they give are pretty close to Edmunds but they explain about all the "extras".
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    mevandemevande Member Posts: 190
    A bad deal! The ""pay Toyota extra $510 as marketing fee" is the oldest trick in the book. Also another poster said Toyota makes 8% from the invoice. That is also wrong for on every deal there is something called 'dealer hold back' which is real $$'s the dealers get on every vehicle sold. If the dealer sold at Invoice they would still make on average 500.00. I have not seen any real deals at invoice yet for it is a new SUV with new body style ect. You can verify this info by singing up for Consumer reports auto pricing (about 15 for 3 months) and their #'s are dead on. :)
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    aggiequeaggieque Member Posts: 11
    just got the following on a fully loaded 4x4 Limited with leather, Navigation and Rear DVD. The salesman claims $42,254 invoice with selling price of $38483. Good deal?
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    cuculoriscuculoris Member Posts: 1
    Local salesman said if I wanted rear auto ac I would have to get 3rd row. Anyone know if this is true? Has anyone configured sport two rows only with rear auto air.

    I am new to posting on forums. I see a lot of good info on these boards. Thank you in advance for your help.
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    stoneybrokestoneybroke Member Posts: 83
    Good Grief: $1600 for 7/100,000 platium ftom Toyota. Cancel the damm thing and shop the web. I was offered $880 for identical coverage on a Limited with all of the toys.
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    pwmusicpwmusic Member Posts: 5
    Where did you get that? Can you cancel the warranty after signing the papers and driving off the lot? If so, please share how. Thank you.
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    qs933qs933 Member Posts: 302
    One thing you didn't mention: what was your price before tax and license? Since sales tax varies, I don't see how anyone can compare your OTL (I'm assuming to mean "off the lot") price of $30.5K with anything else.

    I'd agree with the others, though, that your 100K/7yr warranty is pretty high (I'm assuming it's the Toyota Extra Care warranty and not a 3rd party warranty that may include other things we're not considering). Check if there's verbiage in the agreement that allows you to cancel within a certain period of time (I believe the Toyota Extra Care has that) and do some shopping around (there's also an extended warranty thread that has some online sources).

    Unfortunately, I'd also agree that your question, at this point, is moot. Any car buying that's done without research is an "ignorant" one. That's not the same as a "bad" decision. It just means you went in without the information you should have had before making the decision.

    A good place to start for the information to arm yourself with the next time you're buying (e.g. the invoice price, the MSRP, negotiation tips) is right here on the Edmunds site.

    Since the decision was already made and can't be undone (with the exception, possibly, of the warranty), just enjoy your new Highlander. :)
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    pwmusicpwmusic Member Posts: 5
    yea good point. well hopefully this will help someone out there shopping for a new 08 highlander. i appreciate all the helpful tips. it's nice to see a site where people are helping people save $.

    breakdown of deal:
    30,500k
    - 6,500 trade-in
    +600 moon-roof install
    + 246 dmv fees
    = 24,846
    + 1,600 extended warranty
    = $26,446
    NO SALES TAX IN OREGON :)

    I must say that it handles really really smooth. Love the ride. thanks
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    qs933qs933 Member Posts: 302
    My two cents: don't factor your trade-in as part of the purchase price. From a negotiation standpoint, your new car price and your trade-in should be two separate deals. Based on your breakdown of the numbers, your price for comparison purposes was:

    $30,500 ... Base AWD with TO (anything else? roof rack? cold weather package?)
    + 246 ... DMV fees (title/license)
    + 0 ... Tax (none in Oregon)
    --------
    $30,746 ... Total "out the door" or "off the lot" price of your Highlander for comparison purposes

    Edmunds' pricing for a Highlander AWD with TO is $29,655/MSRP. I'm guessing you probably got a few more options like the Cold Weather Package and the Convenience Package. If that's the case, you probably paid around MSRP. That's not the best deal, but paying MSRP for a new model in high demand is not out of the question. Don't feel too bad.

    One way to look at it: if someone else pays 8% sales tax in their state, then their total price (with tax) would be about the same as yours even if they got a couple grand off of MSRP. :)

    I'm not including the moonroof for comparison purposes since that's not a factory option. I'll be honest: I would be leery about a non-factory install of a moonroof. I hope it comes with a good warranty.
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    cartoonphdcartoonphd Member Posts: 7
    I have been shopping for a 2008 Highlander Sport for a few weeks now. The options that I am getting are:
    Cold Weather Package
    JBL Audio with Bluetooth
    Sunroof
    Auto Dual Zone Climate Control
    Auto Rear Climate Control
    Tow Package

    Fitzmall.com has an Internet price of $32228. Their so-called invoice is $31728. I have also checked with Costco Auto Buying Program. The price is more or less the same as Fitzmall.com. Edmunds's invoice for the car is little bit below $31000. That is around $800 less than Fitzmall's invoice. If you look at the breakdown given by the dealers (including Fitz Gerald), you will find that their prices are very strange. All of them start off with a lower base price (lower than Edmund's invoice), but then they add the TDA, Dealer Holdback and Whsl Financial Reserve to the COST. At the end, the so-called 'Dealer Invoice' is actually higher than the 'Edmund Invoice'.

    I think this is all Toyota's fault. It is because if you look at a Subaru Outback, the Fitzmall.com's Dealer Invoice is same as Edmund's invoice.

    At the end, I guess I shouldn't focus on the 'Invoice' price anymore cause for a new vechicle like the 2008 Highlander, nobody will be willing to sell it at TRUE INVOICE. All of them are pretty much selling around $1100 above the Edmund's invoice.

    Anybody gets a better deal in the DC Metro Area? Thanks
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    skinnytonyskinnytony Member Posts: 121
    I'm perplexed by "dealer holdback" people are stating is being added to the invoice at the Toyota dealerships. Holdback is money the dealers get back from the factory, in Toyota's case 2% of the base MSRP. It is a major component of the $ they make on every sale. So why would they pass this off as an expense to the buyer when it's actually income to them from the factory? Are we to believe they are not getting this holdback from Toyota so they are getting it from the buyer instead? By putting this as an addition on the invoice they are stating it isn't already included in the invoice price. Is this a Toyota policy different from most other sellers? Does anybody know?
    http://www.edmunds.com/advice/incentives/holdback/index.html
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    cartoonphdcartoonphd Member Posts: 7
    I am as frustrated as you about the dealer's holdback. The problem is, all printout from different dealers (including Fitz Gerald) has the same exact breakdown. To make things worse, the base price of the car is actually LOWER than Edmund's invoice price to start with. So it seems to me that Toyota is trying to complicate the equation.

    As mentioned in my previous email, Subaru doesn't have this problem. The Dealer Invoice stated in fitzmall.com is exactly the same as Edmund's invoice. I also work with several Honda dealers a few months ago without this problem either. Only Toyota is giving me this headache at this point.

    At the end of the day, I guess I should just ask myself how much would I want to pay above "Edmund's invoice" if I want to get a Toyota Highlander. Right now, it looks like it will be around $1100 more. Since it is brand new model, I guess it is fair. I just wanna know whether anybody else gets a better deal in this area.
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    skinnytonyskinnytony Member Posts: 121
    A good analysis of dealer fees at this link.
    http://www.carbuyingtips.com/car3.htm
    I particularly thought this comment was interesting.
    "The holdback is included in every invoice price. This is how dealers can sell you a car at invoice, because the factory refunds them the holdback once the car is sold. They can sell you a $30,000 car at invoice and have a $900 positive cash flow. Many people don't know holdback exists, including many car salesman, as this goes directly to the dealer, and it effectively reduces the dealer's cost of the car. Many dealers deny it exists, or tell the customer it's a dealer expense, and try to add it on to the contract make the customer "pay" for it. It's the factory's expense once the car is sold. Now the dealer is double collecting. If any dealer tries to itemize you separately for holdback, leave immediately, you'll surely be subject to many more unscrupulous tricks. Don't let a dealer tell you there's no holdback, it's the business plan that the whole industry is structured to."
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