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Any way to get lower APR?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by slimcubby, May 14, 2009.

  1. May 14, 2009 at 12:35 AM
    #1
    slimcubby

    slimcubby [OP] www.slimshidxenonsource.c om Vendor

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    Hi Guys,

    I was wondering if there was a way to get a lower APR? I see all these specials for 0% apr for all other companies why can't I get that! My credit score is wayyyy higher than when i first bought my truck.

    Any tips? i want to lower my payment lol.
     
  2. May 14, 2009 at 3:29 AM
    #2
    Brunes

    Brunes abides.

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    I assuming you are talking about refinancing your truck?? Have you talked to your bank and any local credit unions?? They tend to have better deals...
     
  3. May 14, 2009 at 4:12 AM
    #3
    MGH-PA

    MGH-PA Well-Known Member

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    I thought you were selling yours to pick up a Sierra? If that's the case, they (GMC) are certainly offering 0% for 60months.

    I wish Toyota would do 0% more often, but it is what it is.
     
  4. May 14, 2009 at 9:06 AM
    #4
    slimcubby

    slimcubby [OP] www.slimshidxenonsource.c om Vendor

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    Yea I am planning on selling my truck eventually. Especially since with their 0% my payment would be like $20 more a month and I would have a full size 4x4. If I could in the meantime drop my payment lower that would be cool.
     
  5. May 14, 2009 at 10:04 AM
    #5
    dw77x

    dw77x Those are not my pants

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    IMHO Toyota is not offering low or 0% financing because they don't need to. If sales get slow enough then I would expect lower rates/higher rebates.
     
  6. May 14, 2009 at 10:09 AM
    #6
    lsocoee

    lsocoee My hair is all natural Moderator

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    those 0% financing are to get people to buy a car. There really is not much of a reason for anyone to refinance for that low.

    What's your APR now? Unless it is over 9 or 10%, then I wouldn't bother. Especially if you'll only be keeping it for another year.
     
  7. May 14, 2009 at 10:25 AM
    #7
    wiscdave

    wiscdave Lets Do It!

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    you could also refinance to a longer term and lower your payments..if that's what your looking to do.
     
  8. May 14, 2009 at 10:37 AM
    #8
    aces2

    aces2 Senior Arshole

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    Are you by chance financed through USAA?

    If so, or even if not:

    Last night I called them due to an upcoming deployment to have my insurance coverages lowered while I'm gone to save on my monthly premium... after they helped me with that, they asked if there was anything else, I jokingly said "Sure! Wanna lower my interest rate on my vehicle loans for me?" He said "Let me get someone on the line from that dept. to see what we can do." I wasn't going to stop him...

    Turns out (with my bank at least) a one-time adjustment of your interest rate on vehicle loans was allowed! Two stipulations...

    1. All accounts with them in good standing.

    2. At least 6 payments made on the loan you want to lower.

    I had already qualified for the lowest rate when I purchased it through them which at the time was 6.14% for 72 months, which is a great rate for that length of time. They lowered it .99% to 5.15%!!!! And all I had to do was ask, they didn't even re-run my credit!

    I was going to do my wife's Prius too, but we have only made 5 payments... Next month though.

    Moral of the story, it can never hurt to ask! Hope this helps...
     
  9. May 14, 2009 at 10:46 AM
    #9
    A_Ninja_Racer

    A_Ninja_Racer Well-Known Member

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    USAA Rocks My frind uses there banking and he likes it I use there insurance and love it. I just felt a little wierd about not having a local branch.
     
  10. May 14, 2009 at 10:55 AM
    #10
    aces2

    aces2 Senior Arshole

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    I felt that way too, once upon a time...

    I now have life insurance, auto insurance, valuable personal property insurance, 2 auto loans, 6 savings accounts, 2 checking accounts, credit monitoring, a certificate of deposit, and probably more ALL through USAA. I was hesitant at first, but once I made the switch, it's been unreal, honestly. While I was calling them last night to take care of the insurance adjustment, I even said to my wife I would pay at least $50/month just to be a member, and I meant it!

    As far as not being local, I got over that real quick. Whenever I do have a paper check or something to deposit (which is rare these days, honestly), I just scan it in and that money is available immediately....

    EDIT: oh, and a ROTH IRA!

    EDIT #2: And you can damn sure bet that when I buy a home, I will be using them for a home loan too! And sorry if I have strayed off topic.
     
  11. May 14, 2009 at 11:16 AM
    #11
    Endurozw

    Endurozw War Damn Eagle!

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    I bought my tacoma about 4 weeks ago but I was able to get a 4.15% rate for 5 years from Bank of America....might check them out.
     
  12. May 14, 2009 at 11:58 AM
    #12
    jhodge83

    jhodge83 Any dog under 50# is a cat and cats are useless... Moderator

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    wat?

    BoA wanted to charge me 7.25% for my 09...went to a local CU and i got it for 4.99%. my credit is damn near 800 and i've had multiple large loans taken and paid off.....BoA can suck my ass. i'm glad to see that even te USAF got their shit together and canned BoA for their travel card program last year
     
  13. May 14, 2009 at 12:07 PM
    #13
    Taco's for All

    Taco's for All Well-Known Member

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    The 0% financing is usually a gimmick. When I bought my truck, they would only offer me 0% APR if I did 12 month financing. I think 24 months would have been 2.99%, 36 months was 4.99% and anything beyond that was 7%. I played their game by taking the lease at 4.99% and I'm going to pay it off in cash at the end and save myself a little bit......Unless they offer me a great deal on the "buy-out" financing.

    Anyways, best way to get a better APR than the one you have is to find a local bank that will re-finance it for you and see what their rates are and what they would offer you. A guy I work with had re-financed his truck twice because they've offered him better deals. I think he went from 13% to 9% and then from 9% to 3.25%. Can't really complain there.
     
  14. May 14, 2009 at 12:15 PM
    #14
    Rudbwoy7s

    Rudbwoy7s Well-Known Member

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    refi through a credit union - only way to go! :)
     
  15. May 14, 2009 at 12:16 PM
    #15
    mws4ua

    mws4ua I'll try being nicer if you try being smarter.

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    If you pay it off it's 0.00%
     
  16. May 14, 2009 at 12:38 PM
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    slimcubby

    slimcubby [OP] www.slimshidxenonsource.c om Vendor

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    I have an apr of 8.9% for 5 years. Shitty rate. Should I refi now that the balance is lower?
     
  17. May 14, 2009 at 12:43 PM
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    aces2

    aces2 Senior Arshole

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    Only if you want to be in debt that much longer...
     
  18. May 14, 2009 at 2:42 PM
    #18
    slimcubby

    slimcubby [OP] www.slimshidxenonsource.c om Vendor

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    true... ahh forget it ill just leave it as is.
     
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