Went out today to do my homework on some vehicles I was interested in. I currently have a Highlander that is up next month. I test drove the Highlander XLE today. I said I was interested in the platinum. But they informed me they will not arrive until next month. I said no big deal contact me I’m in no rush. They wanted me to buy the XLE today.
The Highlander platinum MSRP is around 50k ish. I read residual is 60%. Still researching incentives. Long story short my question is, when I negotiate the sale price of the car, is my best bet just to keep telling them I can get it cheaper, what’s a good sign that a dealer is truly at their lowest price? How much percentage off before incentives should I be aiming towards. Like I said this is for the Platinum Highlander that just came out last month.
Any input would be appreciated!
STRAIGHT UP, ask for 12% off MSRP or go to the next dealer; that is all there is plus any rebates you qualify for plus tax, reg and doc fee (keep the trade out).
Secondly, find out what your turn-in Highlander is worth. Is it worth more than your residual? If so, you can ask for the difference in cash or sell to another dealer possibly.
Highly unlikely he’s going to get 12% off MSRP on a brand new model that hasn’t even been out for a month.
12% is a great place to begin, I wouldn’t settle for under 10% off though.
That’s great… highly unlikely any dealer is going to do that in the immediate future. We’re not talking about a vehicle that’s 8 years old anymore.
Agreed…you can ask 12% but you won’t get it. It’s a brand new model so dealers won’t budge.
Basic supply and demand 101.
What do you think a good percentage to aim for then?
Hard to say at this point. I’d wait a month and keep an eye out for broker deals and such on here to see what they’re actually going for. Need to allow a little bit of time for data points to start showing up.
I have no idea because I never shopped for a Toyota and never bought a brand new model.
I know I read somewhere on this forum when the Hyundai Palisades first came out someone was able to get 5% off before incentives and everyone considered it good.
I always asked for a quote from multiple dealers. You can get a feeling on who wants to deal. Then I worked from there.
That’s what I’m thinking. I have 3 dealers near by that are not a terrible distance from one another. I may hold off until next month, take a day and jump around to each of them in one day and see who is willing to bargain.
I know that the XLE model is a very popular one for them, I’m curious how well platinum moves. Can’t hurt to ask for the discount I want and like you said see who wants it more!
I dont forsee many dealers willing to discount a Platinum model Highlander. If you’re on a XLE shouldn’t be an issue getting discounts but Platinum not so much. People have been placing deposits and waiting for Platinum models and are paying MSRP or above. Supply and demand.
Any dealer worth their salt will ask you to prove you have a cheaper deal elsewhere, so don’t burn your powder unless you can back it up.
Well if you don’t ask you’ll never get it
Link I mentioned I had 3 dealers within a good distance that I could. Bounce back n forth to
They didn’t mention anything or even ask about putting a deposit down on platinum or limited
Save the mileage and hassle… just email the dealers
Get what you’re saying but I don’t think dealers take you as serious until you show up in person ready to shake hands
I disagree. Most dealers prefer you to be in person because it allows them to use higher pressure sales tactics and separates you from having easy access to resources to verify the quality of a deal. By being there in person, you’re literally putting the ball in their court.
I have always had the best luck with negotiating via email, but including in my offer a statement to the effect of “if we can agree to these terms, I’ll be in to sign in the next 2 hours.” Something to highlight my seriousness.