Toyota Financing

What kind of rates are you seeing out there when financing with the dealer? I was quoted 2.78% for 60 months.

 

A lot depends on the rates in your area and which banks your dealer does business with. I was able to get 1.99% for 72 months with a local credit union that the dealer uses.

 

My dealer insists they can beat my credit unions rates but can't run any numbers until the trucks actually there. My credit union is 1.75% for 60 months with direct withdrawal. At that rate it's no worth me using my own money as I write off all the interest anyways.

 

that's a good rate. I was just told that even 2.99 was as low as anyone was offering in Texas right now.

 

I got pre-approved through a local credit union for 2.24% 72 mo loan, another CU for 2.8% and the dealership won't run my application until the truck lands... Pretty sure I'll go with the local CU.

 

You can get your CU loan in the form of a check that's good for 60 days......IF the dealer does not come though you hand them the check

ONLY THEN is the loan in place. Until the check is cashed you have no loan....so better be prepared. That's what I did. PenFen sent me a $28500 check without a VIN number. I held on to it for a few weeks.

The VIN number will be listed on the title with their lien information by the dealer and sent to the CU......Then the loan is activated

 

I came into dealer with USAA rate of 1.5% and the dealer said they wouldn't try to touch it. Ended up getting USAA lower to 1.02% anyway.

 

What did you do to get USAA to negotiate the interest rate? Did you just call them up and ask them if they could do better?

 

Short answer: I called and asked.

Long answer: First of all, they give you a .25% discount by going through their car buying service (rebranded TrueCar). You can enter several zip codes and get prices from several dealers. I did this and then negotiated a better price still. As long as you buy from any dealer on their list, you get the .25% off.

That got me to 1.5% for 48 months or 1.75% for 60 months. When I was on the phone with them, I told them I read online that Toyota was going as low as 1.5% for 60 and they said they could enter that on their system and it would come back with an answer. He did that and instantly said it allowed 1.028% for 60 months.

Good luck!

 

Same here. When people ask what kind of rate I got they are shocked

 

Thank you sir!

 

I got pre approved from a credit union for 1.89%, Toyota beat it with 1.69% (from a bank, not from them ).

Didn't put anything down besides my $500 deposit and $1000 trade.

 

I'm in shit hole nj. 3.99 is the best you can get.

 

Move. lol

 

Right!! My gf won't because of family.

 

I obtained a pre-approved car loan through Bank of America, 72 months at 2.49% before I went shopping. The dealership / Toyota Financial matched it.

 

In what state?

 

California

 

gotta watch toyota financial, they like to charge all the interest up front rather than an annual rate. that makes it almost pointless to try and pay off early.

 

Navy Fed just offered me 2.29% for 72 months.