Toyota loyalty cash work around question

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Topic Author
eagleeyes
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Toyota loyalty cash work around question

Post by eagleeyes » Fri Nov 29, 2019 9:13 pm

All,

Thanks for reading this long convoluted to save a few bucks!

I am interested in purchasing a Toyota Avalon. Dealer mentioned to me that I can 2000 off the price if I own a Camry or Avalon. I don’t own one. But my dad does.

I am going to pay cash for the Avalon so there is no loan consideration.

The questions are: he lives about 7 hours away in IL. I live in TN. He doesn’t travel much that so getting him down here would be tough.

Any suggestions as to how he might purchase the car for me. I would obviously be footing the bill, he would NOT be using his own money.

I had thought he could purchase the car with my having a copy of his license, insurance, and I could just take delivery myself. But dealership says that’s a no go, he has to show up to take delivery.

Online I saw there is something like vehicular power of attorney which could allow me to purchase the car in his stead. But I don’t want to run afoul of any laws so I’m not sure if that’s legit.

So then I thought I could go to IL purchase the car there and drive back.

It occurs to me that he will “gift” me the car. He would pay taxes in IL which would be about 3-4K. Aside from title and registration fees, do I have to pay taxes again?

Any thoughts or help appreciated!

EE

runner3081
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Re: Toyota loyalty cash work around question

Post by runner3081 » Fri Nov 29, 2019 9:23 pm

I would tell the dealer to give me the extra $2k off, or I walk and go elsewhere.

Otherwise, what you propose seems like a lot of work and may incur licensing fees or taxes.

jbuzolich
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Re: Toyota loyalty cash work around question

Post by jbuzolich » Fri Nov 29, 2019 9:31 pm

Find the exact terms required for the credit and try to meet it locally. Often these deals are nearly a formality and the vehicle doesn't even have to be running. Buy a local junker Camry or Avalon for less than $2000 and have it towed to the dealership for the credit. Each promo is different but I've known people who have done this with other brands and what they towed in for the credit literally only had one door left.

Helo80
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Re: Toyota loyalty cash work around question

Post by Helo80 » Fri Nov 29, 2019 9:35 pm

eagleeyes wrote:
Fri Nov 29, 2019 9:13 pm
All,

Thanks for reading this long convoluted to save a few bucks!

I am interested in purchasing a Toyota Avalon. Dealer mentioned to me that I can 2000 off the price if I own a Camry or Avalon. I don’t own one. But my dad does.

I am going to pay cash for the Avalon so there is no loan consideration.

The questions are: he lives about 7 hours away in IL. I live in TN. He doesn’t travel much that so getting him down here would be tough.

Any suggestions as to how he might purchase the car for me. I would obviously be footing the bill, he would NOT be using his own money.

EE

It seems to me that you could title the car in his name as well. It's been done that way in my family.

BTW -- where are the terms for the incentive? Is this factory cash or a dealer only incentive?
Last edited by Helo80 on Fri Nov 29, 2019 9:37 pm, edited 1 time in total.

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CalculatedRisk
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Re: Toyota loyalty cash work around question

Post by CalculatedRisk » Fri Nov 29, 2019 9:37 pm

runner3081 wrote:
Fri Nov 29, 2019 9:23 pm
I would tell the dealer to give me the extra $2k off, or I walk and go elsewhere.
These types of discounts are usually provided by the automaker, rather than the dealer, so it’s usually not up to the dealer to make an exception. That being said, I agree that it doesn’t hurt to ask, if he hasn’t done so already.

fyre4ce
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Re: Toyota loyalty cash work around question

Post by fyre4ce » Fri Nov 29, 2019 9:42 pm

I’m pretty sure that the dealer has to apply for the incentive from the manufacturer, so skirting the rules wouldn’t really work - the dealership would be just eating the $2k. But I would ask and/or read what the fine print is. My spouse bought a Lexus last year and they had some kind of loyalty rebate. I seem to remember the rules being rather flexible, along the lines of, “you own a lexus now? Okay you qualify, no I don’t need to see it.” Does the car have to be titled in your name? What about family? Have you ever driven the car? Etc. that’s the route I’d go.

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LiveSimple
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Re: Toyota loyalty cash work around question

Post by LiveSimple » Fri Nov 29, 2019 9:50 pm

For every "Loyalty Program" there will be a "Conquest Program" for owning a competitive vehicle

Please see this, just for example https://www.metrotoyota.com/toyota-conq ... m#conquest for $750 rebate.

Topic Author
eagleeyes
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Re: Toyota loyalty cash work around question

Post by eagleeyes » Fri Nov 29, 2019 10:21 pm

Indeed this is a nationwide Toyota automaker incentive. So the dealer would have to eat the 2OOO. They have been reluctant to do so thus far.

Beehave
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Re: Toyota loyalty cash work around question

Post by Beehave » Fri Nov 29, 2019 11:37 pm

If there's a $2000 incentive on for owners of any Camry, there's probably a similar simultaneous offer on or under the table available to dealers to offer to customers who don't own a Camry. Put a different way, I doubt that it's worth lifting a finger to go out of your way to qualify for any "special deal" from a dealer.

Figure out the out-the-door price you want to pay for the car. That's your offer (or give a lower figure and be willing to negotiate up to that number). You can tell them that you will blanketly sign over any incentive deals to the dealer as part of the deal. Let the dealer then figure out if they want to sell that vehicle to you at the price you are offering plus whatever they can wheedle out of their Toyota Regional or National Marketing organization.

I would not obtain possession of a vehicle I do not want to own (titling, registration, insurance) just to qualify for a discount on a vehicle I do want. I'd be concerned that it was likely actually totally unnecessary to actually get the price I wanted on the new car, or worse that the acquisition and ownership might possibly backfire in some way because the deal somehow can't go through or there's some unanticipated legal snare with the discount, titling, timing, etc.

TropikThunder
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Re: Toyota loyalty cash work around question

Post by TropikThunder » Sat Nov 30, 2019 3:06 am

eagleeyes wrote:
Fri Nov 29, 2019 10:21 pm
Indeed this is a nationwide Toyota automaker incentive. So the dealer would have to eat the 2OOO. They have been reluctant to do so thus far.
If it’s not a promo from that TN dealer, could you buy one from a dealer local to your dad in IL?

carolinaman
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Re: Toyota loyalty cash work around question

Post by carolinaman » Sat Nov 30, 2019 8:49 am

I would think you can get a similar discount without involving your dad. That seems like a lot of trouble.

Avalon is a great car. We bought a 2007 Avalon in 2010 which was a dealer certified car with 12k warranty. The sales price was almost half the new price. Unlike most Toyotas, Avalon's depreciate much faster. I do not understand why because they are very reliable cars. A Carmax salesman pointed this out to me which led to buying the used Avalon (from a dealer, not Carmax). If you really want to save some money, check out the prices of late model, low mileage Avalons. Ours is still going strong with about 170k miles and we have had minimal problems with it.

chessknt
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Re: Toyota loyalty cash work around question

Post by chessknt » Sat Nov 30, 2019 9:27 am

Just have him add your name to his avalon title and send you a copy of it, then show it to the dealer.

Olemiss540
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Re: Toyota loyalty cash work around question

Post by Olemiss540 » Sat Nov 30, 2019 9:36 am

chessknt wrote:
Sat Nov 30, 2019 9:27 am
Just have him add your name to his avalon title and send you a copy of it, then show it to the dealer.
I like this idea.
I hold index funds because I do not overestimate my ability to pick stocks OR stock pickers.

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8foot7
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Re: Toyota loyalty cash work around question

Post by 8foot7 » Sat Nov 30, 2019 9:37 am

I concur with the “tell the dealer to eat the 2k” post.

Dealers get bonuses on volume of new cars sold. Even if they lose money in a narrow sense on a single car, they could get tens of thousands of dollars in volume bonuses at the end of a month or quarter from the manufacturer.

All of that is to say their P&L on an individual deal rarely is the final word. Don’t be afraid to say, you know what, figure out a way to get me that 2k and you have a deal. If they refuse, try again the day after Christmas.

Or simply go to several other dealers. Have you tried the mail/fax attack? That’s now the only way to suss out which dealers are close to getting these bonuses and thus are willing to make really good deals on individual units.

bob60014
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Re: Toyota loyalty cash work around question

Post by bob60014 » Sat Nov 30, 2019 9:50 am

Current cash back on Avalons for TN Toyota dealers is $3500. I didn't find any mention of 2k Loyalty Cash. In the past its unlikely that they would allow multiple incentives to be applied but, if you can get it go for it.

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Watty
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Re: Toyota loyalty cash work around question

Post by Watty » Sat Nov 30, 2019 9:54 am

Be sure to read the fine print. When I have looked into deals like this before they required that the car be registered in your name for six months. Some required that you trade in the old car.

The incentive may also affect the deal that you can get so it may just be smoke and mirrors.

I bought a Corolla last year and I worked hard to get a good deal by getting bids over the internet. At the time Toyota had a 0% financing offer but no alternative rebate. In the negotiations I asked about that at several dealerships and the price was $1,500 higher with the 0% financing since the dealer had to pay Toyota a dealer participation fee if I took the 0% financing. They were surprisingly open about that and all the dealers were consistent with what they said.

Topic Author
eagleeyes
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Re: Toyota loyalty cash work around question

Post by eagleeyes » Mon Dec 02, 2019 8:35 am

I am a fan of adding my name to the title. My question is will this open Pandora’s box?

We have different insurance companies. I guess it would remain insured in my dads name? But what if he gets into an accident? Since we are both owners whose insurance is going to go to bat? Can I get dragged into a lawsuit? That would be a huge fear.

Thoughts?

Topic Author
eagleeyes
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Re: Toyota loyalty cash work around question

Post by eagleeyes » Mon Dec 02, 2019 8:43 am

When you say add my name to the title, you mean go to the dumb and have the title officially changed to reflect my name correct?

Or do you mean he can sign the title over to me and I can use that as my proof? Would a new title have to be issued by the state of TN for them to accept it? Then afterwards I would just sign it back to my dad. Done and done!

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TheGreyingDuke
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Re: Toyota loyalty cash work around question

Post by TheGreyingDuke » Mon Dec 02, 2019 9:03 am

How about titling the new vehicle in both your names then a month later taking Dad off of it??
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Topic Author
eagleeyes
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Re: Toyota loyalty cash work around question

Post by eagleeyes » Tue Dec 03, 2019 9:38 am

Ok dad is willing to add me onto his title.

I just need now to ask my insurance company if I need to do anything else. My dad has his own insurance on that different from mine. So I’ll check into that and keep you all updated

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