What is your interest rate?

5.34 at WF six weeks ago on the 24 4runner.

 

July '23 from Toyota:
3.99% over 4 yrs

 

So you want financial institutions to lend out money at a lower interest rate than they are paying to borrow it?

 

Well, shit. I didn't even know I had a grandson!

 

The rates he quotes are temporally equivalent to around 5.5% in today's rate market. The fed holds rates higher now so the only way money is free like that again is via a family gift. Perhaps he wants to gift some of those gains here.

 

Pen Fed is currently 5.59% for 60 and 5.89% for 72 and, if you like to live dangerously, 6.79% for 84

 

I just got a quote from USAA at 6.99/60 months for $99K. The rate crept down slightly to 6.75 as you got closer to 36 months. (Obviously I'm not going to need 99K, and the rate went down slightly as the amount goes down, but that was the max for financing purposes. It never got lower than 6.75%) My credit score is 739 and I'm putting 15k down. I'm currently haggling with a dealer for a Trailhunter with a 3K dealer adjustment. If I want to use my USAA financing, they want to add an additional 7K to that dealer adjustment. I told them no way. Their finance guys says they can get Toyota financing down to 6.99% and avoid the additional 7K adjustment. If I can see the 6.99% in writing, I'll eat the 3K adjustment to get into the new vehicle. (My 2004 is in need of a new clutch and throwout bearing in the near future, and I'd rather not.)

 

Are you financing the full amount? Cause if so you probably shouldn't be buying a halo trim truck at 6.99%. But I'm assuming your putting a good deal down, at least I hope.

 

Which direction is the dealer "adjustment?"

Don't use the acronym MSRP. Use 'suggested price'. They like to hide what the S stands for.

 

I was quoted 5% for 48 mo at Thompson Toyota in Placerville CA. Shingle Springs Subaru in CA offered me 0% for 48 mo. I went with 24 Outback Wilderness Edition.

 

Holy Moly!

5% is the lowest I've read through this thread for a 2024 Tacoma?

I'm with USAA and got a great INT Rate in 2021.

Of course, 0% financing would be great but look at the small print.

 

2023 2.5% credit union at work. Is has gone up considerably it’s currently 5.5 over 35,000 and 4.5 new under 35,000.

 

Mine is 7.1% truck with freight and pdi was $50,6xx. I was given 31k for my Lexus plus tax credit works out to be about 35k then I added 10k. After tax and extra warranty I financed about 15k for 5 years at $303 a month. I have only had it a month and put $2500 on the loan I will pay it off in about 2 years. I couldn't imagine putting nothing down or very little. I think with nothing down my truck would have been $1180 for 60 months... Jesus my mortgage is $1275. These are also Canadian prices

 

I'm in the Facebook group and dudes are paying $860 plus a month, not batting an eye, financing whole thing. Either people have lost their minds and just buried in debt or stripping / only fans on the side.

 

I know this is asking for 2024 Financing but the comparison from 2021 to now is shocking.

My truck was financed in 2021 for $35K, 60/months @ 1.8 APR.

Total interest on the amortization was roughly under $2K.

EDIT: For those Math Wizards:

 

The average monthly car payment for new cars is $726. The average monthly car payment for used cars is $533. 39.20 percent of vehicles financed in the third quarter of 2023 were new vehicles. 60.80 percent of vehicles financed in the third quarter of 2023 were used vehicles. Something I watched the other day said 1 in 5 US car payments are over $1000. I am just on the Canadian financial portal website. Its 7.18% at $303.55 for 60 months but after I paid a few extra dollars last month I owe $13,051.09

 

Wifes 23 RXh is paid off, my 22 Taco is paid off, no consumer debt, just our mortage we can pay three times over, our frivilous expense is the nanny at $25/hr which ends up costing me $300 a day me and wife both work, but we can afford it and then some thank goodness. I just am baffled at where people are coming up with $4k mortgages on their $600k new house at 6%, $2k in car payments and whatever else. Be interesting to see what the economy looks like here in the next few years I forsee alot of debt bubble issues coming. Like you I can't come to even getting a $300 a month new taco payment.

 

Mortgages suck ass right now. My first was $900/month, my second was $1500/month, this one I just bought is $3300/month at 6.5%, albeit a much nicer house. At my previous 3.25% rate I could have spent an extra $200k and had the same monthly payment.

 

OMG!

We refinanced the same year I bought my truck...but I waited until the Mortgage was done before I bought my truck.

With our combined FICO score, we were able to get 2.87% for a 15 year Fixed Mortgage.

 

Yeah. Not a good time to move somewhere with an expensive market where you pretty much have to purchase a house unless you want to live in shitty apartments or a cabin without running water and shit outside at -40*. With an 820 and no debt that was the best rate available shopping around. Brutal.