Canadian 3rd Gen Thread

Yeah, I would agree to a point. It really does matter though what shape your truck is when it hits 100K. IF it's holding together well, not rusting too bad, and the mechincal parts are in good shape then it's easy to squeak out 300k out of most trucks. My old F150 at work finally died, an 09, and it had over 350K on the clock. Blew the transmission when they did a drain and fill. Toyota is just as good or better on reliability of course, but I don't see a huge downside on holding on to what I have almost paid off over taking out another large loan on a truck that is so expensive.

Unlike @Tunngavik I don't have a 40K wad lying around sadly .

 

Out of curiosity what is everybody getting for interest rates I'm having lots of trouble trying to get them to play ball with the rate that I want especially when the prime is so low

 

The dealer can't "play with the rate". All they can do is offer you whatever the banks and Toyota Credit offer you based on your credit history.

BOC prime doesn't have much to do with vehicle interest rates. To be honest, Ford offered 0% when rates were higher than they are now. When I bought my 2013 Toyota my rate was less than half of what they are now and prime was higher than it is now.

How long are you trying to finance over?

 

I'm coming to Calgary next week. You might see mine!

 

Dang. Day 11 and already a flat tire. I so don't love gravel farm roads. Nail in the tire. Kathryn sad... Mostly sad because it must have happened on the way to work and it went flat as it sat there. Means I didn't get to try out the tire pressure warning system. Was looking forward to that. Sort of.

 

Time for some good deep AT tires . A friend of mine just moved out to a rental that someone intentionally spiked. Now her whole family needs new tires .

 

The dealer cant play with the toyota rate, but i have been told that if a bank approves you for example 3.2% over 6 years the finance guy might tell you 4.5% instead so the stealership makes extra coin off the bank. I have been approved from a dealer up in edmonton but country hills or charlesglen wont match the rate. They have not budged the 4.89 toyota %, i plan on doing 5/6 years depending on rate and final outcome of truck price.

 

next time one of you is shooting the breeze with a salesperson, why not ask point-blank whether they will sell a truck to an American citizen. Curious to hear what the party line is, and how badly the salesperson wants to make a sale

 

If that was possible, and I'm pretty sure it's not, you would be able to tell because your paperwork from the bank the dealer gets you to sign would show you as paying a 3.2% interest rate. What dealers do sometimes do is give you a crappy interest rate from a basic pre-approval which has a bigger kick back to them, but it's not a kick back on the rate. It's just a simple kickback for the extra business the loan brings in that bank but they still tell you the rate. If you challenge it they do a full approval and your rate drops. I've only ever seen that happen to new buyers with no credit history on a used car. If anything that's another reason to know your credit and price out external financing too. Dealers make next to nothing off financing, but it's still more than the nothing they make off of cash sales. The biggest kickback the dealer can get is the ~$500 bucks from TFC to be perfectly honest.

The 4.89% from TFC is about as good as you are going to get on a car loan over 5/6 years unless you own a home with enough equity to bring down the rate from a major bank. TFC doesn't come up with their rates out of nowhere. There is a reason anyone with decent credit goes with financing through the financial arm of the mainline company. That rate is almost always going to be the best rate available. The only reason rates are lower than that is to move more vehicles when they want to do that. The Tacoma is brand new, and keeping the interest rate high helps Toyota Corperate make the most money they can off the new release so they position the TFC rate at just below the current bank rate (about ~5%)

If you own a home go to a credit union and get a quote. I know quite a few that will do a vehicle loan at ~4% with good credit over 5 years. I was just looking at a hobby car I can't really afford and I was offered 4% from a local credit union with just a quick phone call out of curiosity. Then again, my home has upwards of 100K in equity...

 

Toyota won't let them sell to anyone with an American drivers license that they use to provide their address. That being said, if you are American and have a Canadian residency, they will sell a vehicle to you. At least, that's what I was told by a dealer.

The dealers will sell used vehicles to anyone though. So if you're American wait for a 2016 to come in on trade and snatch it up.

 

Get a canadian buddy to buy it and sell it to you used? What about dual citizens?

 

Its not citizenship but country of registration. You have americans working in canada that can buy in canada

 

Yikes, 4.89%? Man I was pumped with my 1.9% (60 months) for my 2014 (bought early in 2014)

 

4.89% is why I didn't buy. GM, RAM and FORD all offering 0%. will wait to see what next spring brings....

 

It's only hiked because people will pay more for the "new" truck. It will come down, at the latest, sometime next year.

Historically the big 3 offer the lowest rates, though GM and Ram no longer own a finance division so they are at the mercy of having to pay more to sell vehicles at 0%.

 

So I'm gathering that Mayfield and Lethbridge have been pretty good. Thanks guys. Toying with the idea about replacing my Raptor.

 

Country Hills, Mayfield, and Lethbridge are all pretty fair.

 

Race toyota in Lindsay, Ontario is who we used. Brian was the guys name, he's also one of the owners. Been selling to our family for at least two generations and has been at it fot 40 years. Went so smooth you'd think you got scammed.

 

Yup…these three are on my radar, but obviously will first give the benefit of doubt to my home town dealer CH.

 

Got the call today they will accept my trade for what i want and the truck for 1800 off msrp, 1000 accesories, and only pay the critical fees. Not to shabby. Also a cool video!! https://m.youtube.com/watch?v=2eWvXg_jM5U