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Toyota Motor Corporation Informative - Dont pay 'DEALER HOLDBACK" - Dont pay dealer holdback
Dont pay dealer holdback
I drove 3 Toyota Camry's as a company car. I loved
them. When I bought my own I went to test drive a camry, a Honda accord, and a Nissan altima. I always test these three as I like them all.
More than once when I got down to discussing price
with the salesman/manager I told them I would pay
invoice plus $100.00 (They make money on the cars from incentives from the manufactures and many
dealerships will sell them this way at the end of the year)
Well instead of showing me the original invoice from the Toyota manufacturer, they instead brought out something they had printed up on the computer.
Included were ALL KINDS OF BOGUS CHARGES. One
of them was "DEaler holdback" They were charging
this to me as something to pay them. When in reality it is something that Toyota pays them.
(Basically its like a rebate to them from the manufacturer of the car. Its an incentive to them after they sell so many cars) So not only were they getting this say $500 back from Toyota, they
were trying to charge me the same money so that they got it twice. They gave me some mumbo jumbo
explanation as to what dealer hold back is. My
father sold cars and I know exactly what it is.
I even had something printed from consumer reports
that showed exactly what "dealer hold back" is.
I hightlighted it, sent it back with the salesman to the salesmanager right before I walked out.
After going to several Toyota dealerships that
tried to pull this on me, I went directly to the
Nissan dealership and bought the Altima.
I asked for and was shown the actual dealership
invoice for the car I wanted to purchase.
Toyota thought that since I was a woman coming in
by myself that I was going to pick out a "pretty one" and then pay $4,000 more than I should have.
Hopefully by writing this I can keep alot of people from being taken by this scheme.
them. When I bought my own I went to test drive a camry, a Honda accord, and a Nissan altima. I always test these three as I like them all.
More than once when I got down to discussing price
with the salesman/manager I told them I would pay
invoice plus $100.00 (They make money on the cars from incentives from the manufactures and many
dealerships will sell them this way at the end of the year)
Well instead of showing me the original invoice from the Toyota manufacturer, they instead brought out something they had printed up on the computer.
Included were ALL KINDS OF BOGUS CHARGES. One
of them was "DEaler holdback" They were charging
this to me as something to pay them. When in reality it is something that Toyota pays them.
(Basically its like a rebate to them from the manufacturer of the car. Its an incentive to them after they sell so many cars) So not only were they getting this say $500 back from Toyota, they
were trying to charge me the same money so that they got it twice. They gave me some mumbo jumbo
explanation as to what dealer hold back is. My
father sold cars and I know exactly what it is.
I even had something printed from consumer reports
that showed exactly what "dealer hold back" is.
I hightlighted it, sent it back with the salesman to the salesmanager right before I walked out.
After going to several Toyota dealerships that
tried to pull this on me, I went directly to the
Nissan dealership and bought the Altima.
I asked for and was shown the actual dealership
invoice for the car I wanted to purchase.
Toyota thought that since I was a woman coming in
by myself that I was going to pick out a "pretty one" and then pay $4,000 more than I should have.
Hopefully by writing this I can keep alot of people from being taken by this scheme.
Comments:
Posted by dealerdirect on 2005-01-17:
First you claim dealers make their money off the incentives, then you claim Dealer Holdback is an incentive to the dealer and not to pay it. Well at least now everyone knows why you don't own a Camry.
Posted by dealerdirect on 2005-01-20:
P.S. I worked for Toyota for over 12 years, the invoice printed off the computer with all the "BOGUS Charges" which shows dealer holdback is the ACTUAL invoice!!!!
Posted by art7 on 2006-07-04:
My Toyota dealer tried to pull the same scam on me - they showed me the printed out invoice which claculated a bogus 'dealer invoice' cost by adding the holdback to the invoice, not subtracting it. The fact that this was a printout, not a handwritten sheet means this was not an error, it was an outright lie by the dealership. I don't object to a dealer making money, but I do object to being lied to in the negotiations.
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