jtsang25
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Dealers don't need an allocation to take your money. I put a down payment on the original release back in 2019 2-3 months before official announcement.
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Southtown
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This is what I was guessing. I have one dealer that would be happy to take my money. Basically just holding it until they get the allocation then. But they act like they are going to submit something to Toyota to get it. Unless they are planning on snagging another dealers allocation.
RyanA90
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Ppl are anticipating the release regardless of not getting allocations in order to hold their place in line. Some dealers take deposits before an allocation and some don't. Luckily my dealer didn't take deposits until they received and allocation, I was on top of checking with my sales person weekly to know if they had an allocation or not.
JTN
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The way the system was explained to me is that Toyota dealers cannot actually "order" you a car, the best they can do is put in a "preference" for a specific build then hope that exact car or one very close to it appears during an allocation cycle that they can have. Failing that if a nearby dealer gets that car then the dealer with your deposit might try to trade for the allocation.
Putting down a deposit is simply you getting a dealer to start actively looking for the car you want. Whether or not they actually find your car is dependent on a lot of variables.
Southtown
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JTN
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My guess is that those dealers know their business, know what to expect from the allocation process, and probably don't want to foster bad blood by taking your deposit then not being able to deliver in a timely fashion or at all.
I imagine some dealers even bristle at the thought of someone emailing or calling them week after week, month after month asking about an allocation that just isn't materializing. Eventually that person wants their money back and will most likely go to a different dealer to try again. That doesn't engender repeat business or happy customers.
Octane
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I just got a quote from Carvana a few days ago for my 3.0. They sent me an offer of $59k. Granted I only have a few thousand miles and it's a 2022. $42k seems awfully low?
derocknc
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I have kind of a weird scenario that I haven't seen anyone mention on here. I noticed there was an allocation at a dealer local to me so I reached out. I started texting with the sales manager and I asked about the deposit process since the car was in transit still and he said I would basically go through the same process as if I was buying the car, financing, trade-in and everything, and then they'd call me once the car got in and the car would be mine. I'm confused as to whether they're saying I would pay the down payment and potentially have car payments prior to even having a car but I thought this was a weird situation.
Here are his exact words:
" Our pre-purchase process is pretty easy. What we will do is essentially sell you the vehicle as if it was here today on our lot. We will go over all the necessary steps it will take to purchase, such as dealing with your credit and going through all financing options. If you have a trade in we will work with that as well. Once you agree on all the terms the vehicle is yours. And once the vehicle arrives, we’ll give you a call and you’ll come pick it up."
That leads me to believe they could be "honeypotting" me and having me go through the whole credit process just to turn around and say oops that car is unavailable but heres a nice GR86 on the lot (but that sounds kind of illegal). Has anyone ever heard of that kind of thing?
Here are his exact words:
" Our pre-purchase process is pretty easy. What we will do is essentially sell you the vehicle as if it was here today on our lot. We will go over all the necessary steps it will take to purchase, such as dealing with your credit and going through all financing options. If you have a trade in we will work with that as well. Once you agree on all the terms the vehicle is yours. And once the vehicle arrives, we’ll give you a call and you’ll come pick it up."
That leads me to believe they could be "honeypotting" me and having me go through the whole credit process just to turn around and say oops that car is unavailable but heres a nice GR86 on the lot (but that sounds kind of illegal). Has anyone ever heard of that kind of thing?
DEupra
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Long Beach congestion has improved greatly from a few months ago, but I'm 99% sure all cars arrive at the port of Hueneme (by Oxnard).
Evolution
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Not with Toyota but the Chevy I bought a couple months ago was a similar situation as yours. Went to the dealer, they had no stock. Had one coming in "sometime". They said that if I wanted it, I had to do ALL the paperwork and put in my down payment today. He said worst case, if the car took that long to get it, I would have to pay my first months payment, even though I dont have a car...
Long story short, it only took a week for the car to arrive. After that, I went to the dealer, picked it up and left. Super easy process. The one thing I would verify is that if you do all the paperwork, make sure there is a VIN number assigned to you and see if they can show you that VIN number is in transit.
JTN
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I personally wouldn't like the idea of buying something that is not currently able to be transferred into my possession on completion of the transaction. I mean, what happens if the car is damaged while in transit? Or stolen? Whose problem is it then? They work all this paper on you for presumably a loan or lease and the VIN associated with all that work is now compromised? Who is left holding which bag?
And if their intent isn't to actually finalize the transaction before the car is in, and they are just trying to dip a toe in your credit while understandable that is also kind of duplicitous. They should just come out and say "hey let's sign a purchase agreement and run your credit so we'll have everything ready for when the car arrives".
GRSupraguy
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I can report to you I’m doing the same exact thing you are contemplating now. I’m buying out of state and they are using a company called Maverick to verify me and notarize all my docs. I’m giving giving a cashiers check though and not financing. They have a vin and I will verify it’s on all my docs. The car is in held status and nobody seems to know the eta. But in most, if not all the deal is not done unless you drive off the lot in the car. So worse case they don’t get the car. They will refund the money. In your case since it involves financing so if they decide to get the loan funded then yes, you potentially could have a car note due before you actually get your car. Also bearing in mind the lender is not suppose to fund the deal technically until you take delivery. If you happen to do a funding interview with them and mention you’re not actually in possession of the car they won’t fund it. That said approvals are only good for about 30 days. So either the dealer will try to get your loan funded knowing you haven’t taken the car yet(which is most likely) or they will sit on your file and hope you take delivery before 30 days and then attempt to get it funded quickly, before the have to pull your credit again and sign you again. If you are not comfortable, well tell them, tell them based off experience most dealers usually just take a deposit and tag it as yours and wrap up the docs when the car actually arrives. See if they can do that. Good luck
derocknc
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I appreciate all the responses to my scenario. I'm going to call them after this weekend and see if I can clear up the details. I'm also kind of interested in what reviews are like after the media embargo is up this coming week.
Does anyone have thoughts/sentiment on how the potential recession might affect car values in the coming 6-18 months? I guess worst case scenario I end up holding the bag on a car I really like.
Does anyone have thoughts/sentiment on how the potential recession might affect car values in the coming 6-18 months? I guess worst case scenario I end up holding the bag on a car I really like.
RenRed2
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Cars.Com - in US tonight has 428 Supra's avail used 20-22. Not really seeing a shortage. The problem will be dealers who offered way toooo much trying to move those units. See alot of them with 'just reduced' in the advert. Id say buying used is getting better. This is a niche market type buy. They have sold many and well, people are fickle, get married, have children, lose jobs etc. I would not at all pay sticker for any car now, used or new.
Recession is here, interest rates etc. Let the dealers suffer who have been gloating and ripping off honest buyers for 2 + years. Suffer.
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