I'm looking at purchasing a 2007 LTD 4WD Highlander Hybrid with the following options:

DVD Navigation
Extra Value Package 3
Vehicle Shield Package
Extra Mile Option Package D
Tow Prep Package

From what I can tell, that is about as fully-loaded as you can get it. I don't need all that, but it's the closest one at the dealership to what I want.

The dealership said it was just over $43,000 MSRP and they would sell it to me at $39,288 which they said was their invoice. After asking if that was as low as they could go, they lowered it to $38,999.

The closest I can get on Edmunds to my setup shows a TMV of over $41,000. My question is whether or not that is very accurate or if I should keep prodding for a bigger drop? I was thinking about offering $37,500 and just walking if I couldn't get it, but I don't know if I'm being unreasonable or not.

Also, what is the current tax credit situation? From what I can tell I think it's $1300 thru March 31, but I don't really know.

 

I am not sure where you live, but the price they are quoting is reasonable. Don't forget their is a redesign for 2008 which is why they are willing to let it go for invoice.

You maybe able to get a better deal, but this is a fair deal and it is the car you want. The question is; is the hassle of walking away to maybe save another 1000 dollars worth you time.

If it was me, unless you have a better quote in hand from another dealer I would take it. It's a fair price which is the key to me.

 

We bought a 2007 camry last summer before the tax credit went down. To day at the taxmans place we were getting to the tax deduction part of the nightmare when he asked if we had a tax credit slip from the dealer when we bought it. I dont know if there is such a thing??? Does anyone know how to file for the hybrid tax credit ? do I need a slip of paper saying hybrid tax credit on it or will the purchase papers work??? HELP ! JOE

 

Go to the following site.
http://www.irs.gov/newsroom/article/...165649,00.html

Here is what I know (which doesn't answer your question exactly): On a 2006 400h bought before September, 2006, I was eligible for a $2,200 federal tax credit (yes credit not deduction!). I also got a $3,443 tax credit (yes a credit again!) from Colorado on my state taxes. So don't forget to look at state tax advantages. I asked my dealer at the time I bought my 400h if they had a form that I had to send in with my taxes. They said no. I did my taxes with TaxCut software, and the only thing the software asked for was the Purchase Agreement Deal Number. On my State return, there was a vague reference to submitting backup for the credit, so I sent a copy of my Purcahse Agreement with my return.

If you need a certificate for your tax guy, go to the Toyota web site and find a page like the following link at Lexus, and you can print one from the IRS for your type of vehcile:
http://www.lexus.com/hybriddrive/tax...l?s_ocid=20401

One bit of bad news, if you owe Alternate Minimum Tax, you won't get any credit or it will be limited to the amount of regular tax up to the AMT. I lost some of my $2,200 due to hitting up against the AMT.

Hope this helps. Good Luck

 

If you are a costco member, use their service. That will get you to a very low price - lower than their invoice. I took the costco quote to another local dealer over email. The dealer thought I quoted on a different model. When I showed her it was the same model, they stopped communicating with me. I think the quote for an 07 Limited Hybrid with options other than navi was around 36300.

 

Thanks guys. I just can't decide if I want to spend this much on a new car! I realize I'm probably getting a good deal, but it's still more than I was planning on spending.

 

If it's more than you planned on spending on a new car then walk away or lose some options to get in your price.

Don't over extend yourself for a depreciating asset. Stay in budget and upgrade on your next car.

Just my 2 cents.

 

Well it's not a budget-breaker it's just a little more of a TREAT than I had planned on! :-)