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I'll second what Nathan1794 said. My suggestion is to find a dealer that does massive volume. A dealer that moves many units a day. They make their money based on the number of units sold, not the markup per unit.
The 2016 and 2017s are the same price if I recall, so this should help. I was able to get invoice + destination (sunk cost) plus the options. I used a volume dealer. I'm not sure which model you are looking at (double or crewmax or 4x4 or 4x2), but this should give you an idea. The DoubleCab and 4x2 will be less than that prices below.
2017 FFV 1794 Edition Tundra Crew Max w/ 4x4, 5.7L V8 4WD 4-Door Automatic Pickup. (Powered by: 5.7 L Gas Engine 8 Cyl.)
MSRP $50,130 (base MSRP with no options)
Invoice Price $46,371 (this is what the dealership pays more or less)
Destination Fee $1,195 (sunk cost - the dealer pays it and you probably will as well)
Holdback $1,003 (this is what the dealer gets back from Toyota - I think that it is 2% on the base MSRP. Trying to dig into this will be hard at best as they like to hold this close to their chest for margin)
Dealer Cost $46,563 (includes invoice + destination - holdback).
At a 'good' dealer you will pay $46,371 + $1,195 (destination) + whatever options are included + sales tax + any registration + documentation fees.
You won't get below invoice, typically. The good news is that even if they sell for invoice, they make at least $992 + whatever documentation and front-office fees that they charge. I'm not sure of what rebates are available (military is like $1000 or maybe $1000 cash back), but that's about the extent of them. Different regions of the US offer different deals as well (SET - South East Toyota is different than Gulf or North).
My dealer (volume dealer) knocked $3,500 off the MSRP price immediately when I bought mine (2017 4x4 CrewMax Limited) 2 months ago (had to order it) which basically got me back down to invoice + whatever options I picked + the sales tax/fees that I talked about above.
There are lower volume dealerships that have to keep it closer to MSRP to make their numbers. I visited FOUR other dealerships in the area and they were all $1500-3000 MORE than what this one dealer quoted me via email. I played the 'let me talk to the sales manager game' for hours and hours before I visited this one dealership that immediately cut me a deal. Was one of the easiest purchases that I have done and was a no brainer in terms of the final price.
Last edited by ruiner; 04-25-2017 at 12:53 PM.