Toyota 1% finance extension and pricing $63200

[outbackswine Junior Member Find all posts View Profile Close outbackswine]

Folks,
I have taken delivery on Wednesday of my 14 built & complied GXL in Silver, and couldn't be happier.

For anyone considering the 1% finance offer, you have probably had very inflated quotes from all the dealers offering that price, and that's because Toyota Finance slug dealers a fee of about $4.5k on these deals for Prado. I've seen people saying they got quoted $65-68k


I paid $63200 drive away for a manual GXL, Diesel in Silver with 12 months reg and my dealer has said he will sell more at that price. That's for a metallic car, and about $400 less if you want White. He currently has a White in stock.
Let me know if you want his details.

I get nothing from the deal, just trying to help others out given it is a great chance to get Prado which is not normally available on the 1% finance deal.

[Signature035 Advanced Member Find all posts View Profile Close Signature035]

Don't know how you did it. I got stonewalled on the 1% finance deal everywhere I went.
I was after a white GXL, Auto with tow bar and tint. The best deal I got (using my own finance) was $62,500 (which I thought was pretty good), with Toyota's 1% it was $67,800.
PS, decided to go with an 18mth old Altitude....

[outbackswine Junior Member Find all posts View Profile Close outbackswine]

I bought a Kluger with cash from this dealer mid 2012 (still have it) and I am the guy you don't make a stack of profit out of, but you make the easiest sale you have ever made. I dealt with the same salesman.
I simply state specifically what I want, and ask for the sharpest price the dealer has, with the added note that I've asked 30 other dealers the same question and that they don't need to waste time selling it to me with test drives, looking over the car etc. A sharp price gets you another sale for the month.

He has looked after me on both occasions as he told me to wait until the start of April before signing the contract and I would get a 14 built vehicle instead of a 13 built one. That was mid March, and he had the insider info that the deal that was originally going to expire March 31st would be extended and then cover 14 builds.

[outbackswine Junior Member Find all posts View Profile Close outbackswine]

Here is a copy of my tax invoice (edited for privacy of myself and the dealer.

[rags Advanced Member Find all posts View Profile Close rags]

Don't know how you did it. I got stonewalled on the 1% finance deal everywhere I went.
I was after a white GXL, Auto with tow bar and tint. The best deal I got (using my own finance) was $62,500 (which I thought was pretty good), with Toyota's 1% it was $67,800.
PS, decided to go with an 18mth old Altitude....

Rob I was admiring your 120s for sale on myswag, thinking [and considering it] that it was a great buy , did you end up selling it.
Russ

[Signature035 Advanced Member Find all posts View Profile Close Signature035]

Rob I was admiring your 120s for sale on myswag, thinking [and considering it] that it was a great buy , did you end up selling it.
Russ

New home in Geelong Victoria, and I am told about to do the Kimberly's.

Picked up a 2012 D4D Altitude this afternoon..... the project starts again :-)

[Hutch Addicted PP Member Find all posts View Profile Close Hutch]

Nice one Rob, how many Klms on the altitude.

Hutch- Prado 150 with some TJM Kit.

[Signature035 Advanced Member Find all posts View Profile Close Signature035]

Nice one Rob, how many Klms on the altitude.

Just under 50k, but looks like it has never left the showroom... worked out to be approx $10k cheaper than a new 2014 GXL..... which was what the choice came down to.

[airjordan Lurker Find all posts View Profile Close airjordan]

Cheapest I've found in Sydney under the 1% finance for an Auto Gxl metallic 14 build is $65590 driveaway

[outbackswine Junior Member Find all posts View Profile Close outbackswine]

Cheapest I've found in Sydney under the 1% finance for an Auto Gxl metallic 14 build is $65590 driveaway

That may be about right given auto is $2700 more list price than manual (Diesel), although I'm sure most don't pay the full tilt when buying auto.. Mine is manual @$63200 (invoice attached in post #4.

[Symo Advanced Member Find all posts View Profile Close Symo]

As far as I could work out the 1% deals are false economy. You pay as much or more for the car than what you save on a loan with 5% interest. Rates are so low you would be much better of servicing a smaller loan with higher interest when most GXL Autos with accessories can be had for $59k on the road. These deal are way better for the dealer, and not or the under writing financier. The consumer is neither better off nor worse off really.

[outbackswine Junior Member Find all posts View Profile Close outbackswine]

$59k @ 5% x 48 months = $65184 - may not inc loan establishment fees, stamp duty (NSW) etc etc so could be a little higher total repay.
$63200 @ 1% x 48 months = $64464 - inc fees etc as it is comparison rate. Interest rate is actually 0.11%

That shows there isn't much in it if financing either way, but I'm guessing it won't be that easy to get 5% on a car loan from regular financiers. Mortgage at 5% sure, but personal loans, car loans possibly not.

If you bank the cash like I have, I'm way better off using their 1% deal to buy the car.

[SimonW Junior Member Find all posts View Profile Close SimonW]

I share your enthusiasm for the deal Outbackswine.

I'd been hitting the Excel finance functions pretty hard to test Toyota's 1% deal and the result for me was : time to buy a new car!

My situation is that the free Toyota money unlocks a bit of cash I have in my 10 year old 120 Series. I sit this cash in the home loan for 4 years then withdraw it along with the interest that the cash has saved and presto I have $30k to payout the GFV.

In one sense a 14yo 120 payouts out the GFV of a 4yo 150 (after it "grows" at 5% on the home loan)

The deal works for me because whilst I only need $40k to trade-up, I take the full $65k @ 1% and invest the difference. This more than takes care of the extra $4.5k that a 1% car costs me.

btw I paid a smidge over $65k for GXL diesel auto with towbar

[Noosagoals Lurker Find all posts View Profile Close Noosagoals]

SimonW,

If you're not a financial planner already... consider a career change. You are better than most ;-)

Excel junkie myself I've worked out the same scenario trading in our '04 Kluger Grande. Not quite pocketing the same effect as you. Also struggle with steep repayments down to very conservative GFV and quite apart from that the GXL is a bit basic package at the ask price (no Sat Nav, power seats etc). Besides, wife wants more mod-cons, leather etc...

Their 1% finance 'product' is offset by higher price, just a smoke screen discount. Thanks the forum, the car industry is becoming so transparent we will not be requiring sales people or business managers anymore and prices can come down further ...

We're letting the 'strict' 1% finance deadline pass on Wednesday and scour the market for a young Altitude.

[Anth120playdo Banned Find all posts View Profile Close Anth120playdo]

Folks,
I have taken delivery on Wednesday of my 14 built & complied GXL in Silver, and couldn't be happier.

For anyone considering the 1% finance offer, you have probably had very inflated quotes from all the dealers offering that price, and that's because Toyota Finance slug dealers a fee of about $4.5k on these deals for Prado. I've seen people saying they got quoted $65-68k


I paid $63200 drive away for a manual GXL, Diesel in Silver with 12 months reg and my dealer has said he will sell more at that price. That's for a metallic car, and about $400 less if you want White. He currently has a White in stock.
Let me know if you want his details.

I get nothing from the deal, just trying to help others out given it is a great chance to get Prado which is not normally available on the 1% finance deal.

Great stuff, Good to see a thread started about pricing so you can help each other not get ripped too much.
That's a great price! Normally you could expect to pay just under 60k, you are correct with the about $4500 part.
But it's a no brainier, if you work it out in real Interest rates, you would be paying a lot more!
I mean its capped at 1% + 4500, this allows for large residuals, & low monthly payments which normally equates to more interest. This is a riper 4 year deal!!!
Guaranteed by back as well, not that you would as the vehicle is worth a lot more than the figure they give you, but that's your option.
Gx are $54k or so about 58-59k with the deal, I've noticed a shite load more room in the back of the gx, both at sides and floor.
So why pay for side steps, roof rails, & fog lights when all your going to do is put sliders, a roof rack, & Bullbar, I hope you get my drift. But yes gxl does suit many.

All the best with shopping peeps.