Just saw advertised in the paper that Toyota is offering up to $4000 rebates on 2008 Highlanders and other vehicles..
Does the rebate get sent to the customer or does the dealer keep the rebate?
Just how does that work?
Dave C.
In haggling the dealer will try their best to keep as much of the $4000 and then some. So as a buyer you need to work to get all that $4000 and then some. Dealer also gets bonuses for selling every so many cars. You can ask for free maintenance contract, for example, to be included in the deal.
Big rebates may also be a sign it's due for a redesign? So you might want to check out Honda Pilot and GMC Acadia:
It depends on how you negotiate the deal. You can negotiate your best deal and have the rebate sent to you, or more commonly, you sign it over to the dealer to lower the amount you pay up front.
I checked out the Acadia web site, and it looks very good. Today is Saturday, and next Tuesday the wife and I will check out the Acadia for sure. We have already looked at the 2008 Highlander last week, and it looks very good. This Highlander is new for this year.....need to think about that.
Dave C.
One should be very careful about collecting a rebate, rather than using it to reduce the purchase price. TAX LIABILITY! Depending on ones state, if you do not apply the rebate to the sale to reduce the selling price, you many need to pay a higher sales tax on the vehicle. In addition, depending on ones state, you may need to pay income tax on the proceeds. If you are financing you will pay interest of the additional amount financed over the term of the loan as well.
mike
You know what they say about the highlander? Its a Camry with higher ground clearance. If this is true you may want to check the reviews of the Camry first. And I tell you they are not pretty good. Transmission problem is found on both V6 6spd and I4 5spd. But things change and I don't know if they had made an improvement to date, Its been more than a year since it first came out. A $4000 rebate is hard to beat. I would encourage you to test drive a 2008 Subaru Tribeca. Though, its a 7 passenger and not like the Acadia that seats 8, and no rebates like the Highlander.
Good point, Mike, I will remember that for sure. When I purchased my last car, I recall I did sign it over to the dealer. I have to learn to negotiate better when buying a car.
I just finished reading "Confessions of a Car Salesman" in nine parts that is on the Edmunds site, link below.
Dave C.
MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.