Toyota's 1.9% Financing?

Yes 1.9% is a great deal. I did 1.9% for 48 months and just made my first payment this week.

 

Nice! If you don't mind me asking, what was your experience going through everything to get that rate?

 

Don't worry about having loan or not, if you ever had any credit card or rented or have a mortgage the FICO show everything.
If you really want to bump the FICO score up a bit, pay off the credit card the today before.
FICO doesn't like any high credit card balance.

 

Top of my skull I want to say shingles are good 30 years? Don't take that as gospel of course. I wasn't even going that route so never investigated it. I believe it's normal to have some sloughing off as you mentioned though.

Houses are the best and worst thing all in one haha, though if one is not foolish mostly the house builds equity in oneself. Mine was built in the 1930s and used for its early life as a summer cottage, so the insulation and such was a coming from behind battle for me. Long range plan would be to move to a different part of the country but right now my parents are still next town over from me.

Funny how life works, while mine wasn't as spread out as yours it has a long winding path also..

My base mortgage is less than friends of mine paid for a 2 bedroom in my area back in 2004, you don't want to know what that rent would be now. Not 5K but..

1K a month no thanks, my house went from 0 to 500 a month in 12 months time..though not all of that was planned for, life happens. Right now it's 300 on the Rav4.

Same re the credit check, I didn't need to bring any paystubs etc that I recall. My credit is excellent and always has been since I first established credit. I didn't listen to all their teachings but one thing my parents taught me was "guard your credit with your life, in many ways it IS your life!"

They'd already appraised my trade at 4500 of the 17K they wanted for their vehicle and I talked them up to 6500, IDK if that matters.

 

My dealership had an online finance application I filled out at home before going to pick up the truck. I put on the application I was putting 10k down and I wanted the 1.9% for 48 months. It was the quickest and easiest time I've ever had in a car finance office. I walked in and asked him if I got the 1.9% for 48 months and he said "Yes you did." I walked out about 10 minutes later all done. Super easy.
Of course with paying MSRP there is no negotiating so that in and of itself made it much faster.
I think he said you need a 720 credit score to get that rate but don't quote me on that.

Good luck!

 

Thanks! I was actually looking at the "get pre-approved" section on the dealers website and was debating if I should just fill it out.

 

Sir, you worry too much. As long as you never had a missed payment, never filed bankruptcy, your score's automatically 700+ pretty much and that guarantees you an automated approval.

When I first got a financed car, I was nervous because my FICO wasn't 750+ and I thought I'd get rejected, turned out I worried for nothing. Auto loans are pretty much the easiest loan to get. I never need income verification. Maybe subprime credit need that.

Things only got tricky when was on the 4th vehicle financed with TFS, it triggered a red flag for the number of loans concurrently, but the dealership finance manager called the TFS guys to manually approve it, and now I have 5 loans with TFS. I actually prefer this way as I just go to one place to pay the bill each month.

 

Southeast Toyota is not offering anything on Tacomas currently

 

And rarely (if ever) will because they don't need to to move inventory.

 

Dealer was willing to sell me 2022 Taco at MSRP if I financed with them. Seemed like a good deal at first, given 1.9% financing. My credit score is very close to 800. Finance guy said 4.8% 5 years was best he could do. Fortunately, the bank they used said I could prepay with no penalty. So I went to my credit union. They took over loan for 2.25% 4 years, no fees.

 

How much do you pay a month just on vehicles?

 

about $3700, but I only need to come up with about $1900 for the 4Runner and Tacoma I drive, the other cars I sublease them so not paying them myself directly

 

How does subleasing work? Someone else takes over the payments for you and takes the vehicle, but if they don’t pay, you’re on the hook even though they have the car?

 

I'm more shielded in this case.

• Cars are under my name.
• TFS has ACH info on their bank accounts, so TFS directly draws payment from their account. Banks don't care who's paying as long as payments approved and paid on-time.
• They insure the cars with full coverage.

In case they don't make the payments, then I'll ask them to return the car to me and I'll sell it to carmax and terminate the loan. The agreement I made with them is that if that's the case, whatever sales proceeds after selling to carmax I keep. So far all the loans have positive equity so that shouldn't be a problem.

Obviously, things can get ugly if one decides not to play by the rules. That's why I only do this as a favor to family members who have stable income but poor credit. They have the means to pay, but not at 12% subprime APR rate.

 

Hmmmm, sounds very risky. So let’s say they get into a major accident and kill someone. That person’s family would go after their insurance first, and then after you since you’re the owner of the vehicle. (Property cost, medical, etc etc).

So what is it that you’re getting out of subleasing? Kindness of your heart?

also is this outlined in a legal document or just handshake?

 

super good

 

Are

Are you sure of this? They don’t advertise it. They call it dealer cash in SET. So it doesn’t come up when you go on the national Toyota website. I mean you’re probably right because like subio said, they don’t need to incentivize the sale of Tacomas right now. Dealer cash in SET Is usually a little lower than the rest of the regions. Last time I was buying it was $1750 and the rest of the country and $1500 in SET. Then it went down to 1000 and 500 respectively then 1000 and 500. This was just prior to the Covid vehicle market shake up.
Also, dealers will straight up lie about dealer cash.

 

I got nothing, just doing a favor to family members.

I thought accident's damages and liabilities go as far as the driver and it ends there.

It's like if I rent a car from Hertz, and I'm at fault for the accident, the victim would sue me as the driver. How is Hertz even liable in this case as it plays no part in the accident.

That's just my common sense thinking, maybe the legal system is f***ed up they even allow this to happen.

 

It's close but probably not, depending upon the region you’re going to buy it in and the interest rate you would have if you brought your own financing. If you are in a region that has the $1000 cash back then it is an either or situation. You can either take the cash back or the 1.9 financing. So if you take the financing rate instead of the cash back the vehicle will cost you $1000 more. In the scenario of a 4% interest rate versus the 1.9, your break even point is about $22,500 financed. Which would be about what I assume you’re going to finance if you’re putting half down. Also something to be said for having a lower principal.

 

Well, Hertz is a business, and everything is written out in a legal contract when people rent a car.

Since it doesn’t sound like you have a written legal contract with the subletters, if a victim were to sue the driver and can’t get anything or not enough, they can definitely go after the owner (you). It’s just like you letting them “borrow” your car. That’s why you should never let anyone borrow your vehicle, because from an insurance standpoint the owner is next in line to be liable.