Toyota financial latest interest rates...

My dealership didnt offer 0% apr on Tacomas. And according to Toyota.com, They dont offer 0% Apr on Tacomas

 

The 0% incentive ended in May. The Bay Area did offer it at the time, that's when I purchased mine.

 

That’s not been my experience. last time I financed a vehicle was 20 years ago, but back then it was a Tundra at 0%. Toyota finance would not approve the 0% below a particular $. That $ was their MSRP, not the dealer bullshit markup MSRP. I actually negotiated a lower price with the dealer, but to get 0% I had to pay more for the vehicle. At that point in time money in the bank was more important to me, but it was a $1500 difference, 20k tundra @ 0% when I could have paid 18.5k with cash or other financing.

 

Never say never ;-)

You can get zero percent on Nissan, Toyota, and Volkswagen used cars. Most other manufactures offer 0.9 percent which is pretty close to zero. Comes out to $92/year difference on a $20k loan w/48 mo term

 

Your experience from 20 years ago is still practiced today by not only vehicle finance companies but with other consumer goods. But, you should know that there are true, zero percent financing deals available now that are not tied to MSRP or final purchase price as they were in years past.

Incentives are often an either or proposition: Either take the zero precent financing or the $1,500 rebate. But not both. Times have changed, the economy has changed, the world has changed. There are some killer deals out there right now both used and new.

 

IF he were right about a 4 year old car losing that much money, we might have a different discussion. Clearly he's right a new car is only new once, you do lose something right off the lot but while rooted in smart advice he goes too far.

My 11 year old truck is still worth about 9K stock and I paid 17K for it at 3 years old with under 7000 miles.

 

I pulled .9 on my 2010 Tacoma in fall 2012. Had a $6500 trade..not my usual, but the prior vehicle was fraught with problems and I didn't want the headache of selling myself. Financed about $11k at 0.9

 

Still trying to find the answer in this thread lol

 

No one on the “2020 what did you pay” thread reported getting the $1750 and 0%. It was one or the other. I chose the $1750 rebate as I financed less than $27,100 which is the break even point for the 0% versus my loan apr of 2.49% from my credit union. I’d probably take the $1750 until financing ~$30,000 as that would give me 1750 equity now as opposed to over 5 years. I pick up my truck tomorrow and meet with finance man who has tacitly said he “can beat that so don’t worry about bringing in your own financing.” I’ll be bringing my own anyway.

 

The price you negotiate and the people you work with in finance are two separate functions. You don't negotiate with finance, they simply put the numbers in of what you negotiated.

My experience everytime, I negotiate price before determining finance. If they made you get to a magic number its because you let them.

One thing I have noticed from most people, they are shit at negotiating.

 

They did back in May. I got my '20 at 0% on May 8th with a credit score of nearly 750. I've been eyeballing these trucks for years and when I saw on Toyota's website that qualifying buyers could get 0%, I ran straight to the dealership.

 

Damn. My credit is 800+ and my interest on my loan is 4 something on my 72 month loan.

I really need to refinance mine.

 

Don’t disagree with that your saying and when you’re talking generic finance it’s kinda right. But the nuance here is Toyota finance and 0%. It’s not the dealership or the dealership finance department, it’s actually Toyota Finance that will absolutely stop (Well won’t stop just won’t approve) you buying a vehicle at too low price at the 0% rate.[/QUOTE]

 

Right now I’m paying 1.9% on a 60 month loan for my 2017 TRD off road through Toyota finance. I’m 2 years in and have about 13,000 left on the loan. I’m looking to upgrade to a 2018/2019 Tundra TRD crewmax. When I got the 1.9% it was a special promotion so I’m just trying to figure out what they might be offering right now. My credit scores are all above 765. I know the 0% deal isn’t offered on certified pre-owned (which is what I’m looking to buy) but I’m hoping they will offer 1.9 again. The hard part is finding the Tundra in Maine right now! I’m been hunting and the models/ color I’m looking for are hard to find! I want the Silver Sky Metallic I have now. Found one at a dealer and they sold it out from underneath me the night I test drive it! Went back in the morning and it was sold.

 

Just bought a Certified preowned Tacoma TRD sport last weekend and got 1.9% at 72 months.

 

Can you walk me through the logic of this? It makes absolutely no sense. Is it a fact or "gut feeling"?

 

Interested as well as to the proof behind this statement.

 

About a month ago, I took rebates on a 2020 Tacoma, and financed through TFS and got 3.24% on 72months.

 

Did the rebate amount equal more than the interest you’ll pay over 72 months?

 

Yes, because I won’t take the full 72 months to pay it off. It was either take the $1,500 rebate, or take 1.9% for 72 months, I think it was. It made more sense for me to take the rebate, since I make principal only payments every month, in addition to the minimum.

I was actually gonna use my local Credit Union at 3.8% for 72 and take the $1,500 rebate, but the Sales Manager said he thought Toyota could beat them on rate, and sure enough they did by quite a bit.

EDIT: sheesh never mind, the 1.9% was for 60 and it was 3.9% for 72, so it made waay more sense for me to take $1,500 rebate, AND the 3.24% through TFS.