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Lowest Interest % from Toyota?

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Old 03-29-2011, 02:48 AM   #1
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Lowest Interest % from Toyota?

I had asked this question in a seperate thread...want to see what others are getting when they Finance through toyota recently...sales manager quoted me 4.1 , but stated finance guy would have to finalize ....I have to use Toyota FInance since we are using my wifes masters degree to get the 1k college rebate...I know last year they were matching any outside banks rates to get the loans, I am told no to that now....anyway, I pick the truck up tonight...just wanted to know how hard to push for a lower rate by what others are seeing, I have excellent credit with a long history of the same...i've always waited for 0% or very low to buy, this is the first time I've bought without the special rate through the dealer...
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Old 03-29-2011, 03:25 AM   #2
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I bought a Venza about 9 months ago and they had a special finance offer going at that time. I have excellent credit and I got a rate of 2.9%. This was the lowest someone could qualify for at that time. So considering I got about 3% with a special and you are offered 4.1% IMO you are probably getting a pretty good deal on the finance. It's not a great deal, but it is not a bad deal either, I think it is fine if it is coupled with other deals. Good luck.
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Old 03-29-2011, 03:47 AM   #3
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I've heard they're not matching any more either. You may want to find the lowest apr outside of toyota financial, then compare to what they offer. Based on the amount you're financing, the difference may be great enough to not even bother w/ the 1k rebate. The lower apr from an outside company may be significant enough to save more than that over the life of the loan.
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Old 03-29-2011, 05:50 AM   #6
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Quote:
Originally Posted by maxpower29 View Post
I got 1.7% on my offer
But that is a lease in Canada.

OP is in New England i.e. US.
Interest rates are done regionally here.

The deals will change come the beginning of April. Buytoyota.com (toyota's incentive site) or edmunds shows all the offerings by models based on zip.
It looks like right now the tacoma & sienna are the only models not offering anything substantial.
Also this will change in a week.
Edmunds is a great tool for it will show TMV based on zip. There is also another site that polls DMV data to show what people are paying vehicle price regionally. To me that is what matters first, then the financing follows.

Good luck deals should sweeten in the states next month with Tax date april 15th.
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Old 03-29-2011, 06:29 AM   #7
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I got 1.9% for my 09. I was supposed to get 2.9% but i forgot to sign a box on the loan agreement and when i came in to sign it (2days later), it was the next month and they had a new interest rate of 1.9%. Pleasant surprise. I will have paid a total of $631 in interest when I pay off my truck n a yr!

I remember the car dealer (not financial loan guy) kept telling me I had to hurry up and sign before the month was over b/c the rate was going to go up. So when i went in to sign the last box I looked and it had lowered. I didnt say a thing
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Old 03-29-2011, 07:55 AM   #8
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Get a quote from a bank or credit union then talk to the finance guy. That's what I do and I usually get the finance guy down a bit to beat the other offer.
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Old 03-29-2011, 08:10 AM   #9
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I got 2.9% on my CPO 2010 back in December.
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Old 03-29-2011, 08:13 AM   #10
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I got 2.9% a month ago on my 2011 Tacoma here in NorCal.
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Old 03-29-2011, 11:50 AM   #11
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bought mine in december in New Hampshire...got 2.0%. thought i was going to have to go with the bank's 4.6%, but was pleasantly surprised with the stealership
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Old 03-29-2011, 12:07 PM   #12
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Last September, State Farm set me up with 4.5% + free gap, then TF stole their lunch with 3.54% (gap extra but I cancelled it after 3 months).

I'm aiming to pay off my 72-month loan in 12-14 months. That's going to save me a nice big bundle.
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Old 03-30-2011, 03:00 AM   #13
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Well I brought home the new truck last night.....we actually got 2.89 through Toyota ...I was pleasantly surprised...thats lower than a lot special APRS they have run in the past on Taco's....I have seen 2.9 and 3.9 I think this past fall...Finance manager said it was due to excellent credit score and you get an extra discount for the college grad rebate....
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Old 03-30-2011, 06:00 AM   #14
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Don't get too worried about your loan APR. If you have reasonably good credit, and otherwise qualify, you should be able to fine new vehicle financing for under 5%.
Here is how the payment would fluctuate:

Assume a loan amount of $20,000 for 60 months.

.0% $333
.09 % 341
1.9% 349
2.9% 358
3.9 367
4.9 376

In this example each percentage point increases the payment by less than $10 per month. Over 60 months, it adds up- but most people just look at the impact on the monthly expenses.

The difference between zero percent and 4.9 percent is about $40 per month, barely enought money for a HALF tank of gas.

So it's not the end of world, the APR at these low percentages isn't all that huge.

YMMV based on amount borrowed, etc.......

So don't sweat it out too much.

Get a few bids from outside sources, then bring the best offer and let the dealer try and beat it. But don't sweat it too much.
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Old 03-30-2011, 08:24 AM   #15
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1.9% this past weekend.
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Old 03-30-2011, 08:52 AM   #16
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Quote:
Originally Posted by Brewman View Post
Don't get too worried about your loan APR. If you have reasonably good credit, and otherwise qualify, you should be able to fine new vehicle financing for under 5%.
Here is how the payment would fluctuate:

Assume a loan amount of $20,000 for 60 months.

.0% $333
.09 % 341
1.9% 349
2.9% 358
3.9 367
4.9 376

In this example each percentage point increases the payment by less than $10 per month. Over 60 months, it adds up- but most people just look at the impact on the monthly expenses.

The difference between zero percent and 4.9 percent is about $40 per month, barely enought money for a HALF tank of gas.

So it's not the end of world, the APR at these low percentages isn't all that huge.

YMMV based on amount borrowed, etc.......

So don't sweat it out too much.

Get a few bids from outside sources, then bring the best offer and let the dealer try and beat it. But don't sweat it too much.
You're darn right it adds up over 60 months. "Most people" are unwise to just look at the monthly sum, IMHO.

Each percentage point added in your example adds roughly what I earn in a week.
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Old 03-30-2011, 08:55 AM   #17
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Recent college grad - 3.94% with $1,000 rebate
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Old 03-30-2011, 08:56 AM   #18
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I got scrood at 6.9%
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Old 03-30-2011, 09:12 AM   #19
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Quote:
Originally Posted by SoxTacoma12 View Post
I had asked this question in a seperate thread...want to see what others are getting when they Finance through toyota recently...sales manager quoted me 4.1 , but stated finance guy would have to finalize ....I have to use Toyota FInance since we are using my wifes masters degree to get the 1k college rebate...I know last year they were matching any outside banks rates to get the loans, I am told no to that now....anyway, I pick the truck up tonight...just wanted to know how hard to push for a lower rate by what others are seeing, I have excellent credit with a long history of the same...i've always waited for 0% or very low to buy, this is the first time I've bought without the special rate through the dealer...
Hey man I am a manager at a Toyota store in L.A..... Toyota stopped matching other banks last year. The best rates they are offering (In L.A.) is 3.9% for 60 months. Toyota offers different regions different % rates but your 4.1% is right there. If you do go with an outside bank you will LOSE the college grad rebate, wich wouldnt help. BUT It cant hurt to ask the finance manager about the rate. But youre getting a great deal and the difference between 4.1 and3.9 is probably just $0.50 a month. Enjoy your new truck...



Anyone looking to get a new Toyota feel free to PM me... Even if I cant sell you the car. I will try to get you some information to help you out.
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Old 03-30-2011, 09:15 AM   #20
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quoted me in December 2.9 through toyota. Then a credit union matched it but went up only .1% for an extra year of financing. we went with 72 months for the .1% and just make the bigger payment and don't if it's a tight month.

moral of the story...2.9% through toyota was quoted to me in December
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