Toyota's Hidden Rebates This Month
Hidden rebates, also known as "dealer cash", are rebates given to dealers by the manufacturer whenever they sell or lease a certain model. They're very similar to customer cash-back rebates, but instead of YOU getting the rebate, the dealer gets to keep it - all while remaining hidden from the car buyer.
The purpose of hidden dealer rebates is to help vehicles sell faster without the stigma of large discounts. In theory, dealers will pass the hidden bonus to consumers through a lower purchase price, but if you don't take the time to comparison shop multiple dealers, you may never get the discount.
Hidden rebates are difficult to figure out because they're not published anywhere - only dealers know about them. However, I've been doing a lot of data analysis on incentives, and by combining a few of my data sources, I think I may have uncovered hidden incentives available on Toyota vehicles this month.
Please keep in mind this information may be inaccurate, or may not be available in your region. These calculations are experimental and should be used for informational purposes only. What these hidden rebates suggest is that you should be able to negotiate the hidden rebate amount off MSRP as a minimum, and perhaps be able to negotiate the full hidden rebate off Invoice Price.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid