Canadian 3rd Gen Thread

I have been getting pricing on a TRD Sport (no upgrade package) from an auto broker in the Lower Mainland and the best I have so far is $39,450 or ~$44,400 with taxes (12%) and fees.

 

I wish I could pay cash lol but that price was quoted without any down-payment or trade in.

 

Which dealer is that? Maybe I can get my dealer to price match

 

Greg Huynh at Quinella Auto. http://quinellaauto.com/. He can offer cash, finance or lease deals. Not sure about trade-ins though.

I haven't bought through him before but know a few people who have.

 

Thanks

 

No problem. When I decide what I am doing I will probably buy through him.

It is simple. You tell him exactly what you want and he sources it. No bargaining at the dealer required. Usually just invoice cost plus his fee of $300 or so except the Tacoma seems to be higher due to demand right now.

 

Sounds good, I requested a quote on his website. I wonder how the financing would work, I want to go through my bank for the finacing.

 

I've never seen a bank able to compete with the low rates most dealerships offer. How many months are you looking for?

 

Probably 60

 

If you have positive equity in your house you'll easily beat the 4.89% Toyota is offering. That is your house is worth more than you owe.

My experience with website quotes is never the lowest price, they want you face to face and you ready to sign the dotted line for the best deal. Just what I've experienced all the times I've bought a vehicle or went in to buy one.

 

I've called my bank twice on both my previous trucks to see if they could beat the 2.99% 48 month rate, they were not even close….and I own 2 homes (one is an executive rental), plus I'm putting $35,000 down on my current truck, plus I have more then enough "liquid" cash to cover the sale.
In my experience, banks are the absolute worse for loans….BMO anyways

 

I got 2.49% just a month ago, using house as equity. I was comparing to the 4.89 toyota is offering

 

Anybody have experience getting spidertrax wheel spacers in canada?

 

Using your house as collateral on a truck loan MAY not be a wise financial decision. Using the equity to boost your available credit is one thing that naturally happens, but if the bank is going to include your house in the loan it can restrict your mortgage options upon renewal and even effect your mortgage rate since that equity disappears into the loan when you have it tied up as collateral until the loan is paid. That's a financial risk.

At the end of the day both options use up the same amount of usable credit, however they appear slightly different to the banks. With a normal car loan the bank can take your car back for default fairly easily but will have to go through a more complicated process to get any additional losses back. Auto companies rarely go that far to be honest. At that point they usually use alternative means to try and recover their losses. However, if your house is named as equity in a loan... well it's pretty easy for the bank to force a quick foreclosure before you can even take any legal action to protect yourself. I know it's all doom and gloom but it's something to think about .

That all being said I've been able to get around 3% quoted to me on a car loan over 60 months from one of the local Credit Unions. That was only a couple of months ago when I was debating buying a steal of a deal sports coupe a friend of a friend had to sell when he lost his job. I do all my banking with BMO but Credit Unions operate under different rules and have some advantages on loans. It's not unheard of for them to drop under 4% on loans without additional collateral but I'd be careful if they want to place part of your equity in your home up as collateral just to save you a half percent on your car loan...

 

Rolled into mortgage is what I was talking about. If you don't make your mortgage payment they are taking your house regardless. I didn't buy a truck this way, but it is an option. Increase your mortgage payment for 5 years to pay the amount of the truck off. Not much risk there.

 

Okay, yeah that's something totally different and yes it would give you a sub 3% interest rate. Again, it does tie the house a truck together but at least in that situation it's totally upfront and not buried in a lien.

Mortgages are totally different than car loans. The interest rates, borrowing costs, and basically everything other than paying the bank money follows a bit different rules. That's why you were able to get a low interest rate. Current mortgage rates are in the 2-3% range in Canada.

Did you have to do that at renewal or are you on a variable rate mortgage where they let you make that sort of change on the fly? I've heard of people doing that but I've never though about doing it myself.

 

Fixed for 5 years. Was up for renewal, I used the 2.49% for a portion of this I built with my father instead. Dam those logical voices in my head! 28'x32'. Houses this as well, see I told you I'm not a dodge fanboy.
First truck I ever bought...

 

Okay, yeah that makes sense. I'm way paid up on my mortgage now and I kind of wish with the super low rates that maybe I had of used some equity to renovate rather than saving and waiting. Oh well, patience right lol.

All good man . My first truck was a GM Z71. While I haven't always had the best luck with them they haven't been bad trucks either. The new company I'm with is all Ford so now I won't get to check maintenance from across a company fleet anymore for issues among brands .

 

I don't think you'll see rates below 2.49, so I took advantage. It also added a fair bit more equity than what I borrowed.
That z71 has been good to me. 270k or something like that on it, one ball joint and a bunch of rear universals! Lol never touched anything else, trucks were simple back then. ('92)

We have 2 newer f150's in our fleet. They all break, (The various brands) the newer the worse it seems for us. We have a few early to mid gmc's and yes they have little issues BUT 4wd always engages, cv joints never break, doors always open, and they always start. Electronics and dirt/dust/salt don't mix well in our climate/work environment. Trucks seem to be built more and more for the people (vast majority) that their idea of work is hauling a small trailer to Home Depot or similar "adventures"

 

Getting a bit off topic, but my mortgage rate is 2.0%