Question About Toyota Financing.

Can someone tell me whether there is a pre-pay penalty of any kind if you pay off your financed Tacoma early? If I finance a truck with them today and then decide to pay it off in full one week later, is there a penalty of any kind?

 

I think there might be one. But, its not much. like $65 added to the balance. At least for our Honda

 

No, at least not on my last one. I paid it over a year or 2 ago. I would wait until your first payment is due to ensure the paper trail is correct.

 

I have financed 2 Rav4's through Toyota and never had a early pay off fine but I made sure that if there was one I wasn't getting the car. And on my Taco the dealership got me a loan through chase bank with no early pay off fee either.

 

Try a credit union brah. 1.5 or 1.7%

 

Toyota will definitely finance that amount and if you have really good credit you can get a better rate. Usadaytrader is correct cause usually a credit union will bet Toyota's rates. The Toyota dealership I go to has matched my credit unions rate on every car so it was easier for me to go through Toyota.

 

I don't need Toyota's financing. I have a cheap home equity line. So, I wanted to use the loan as leverage (telling them to charge me a very high rate) to get some of the other fees waived.

 

I got 1.9 through toyota, after I showed them Navy Federal was giving me that rate. And no prepayment penalties.