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Just want to know if I got a good deal or screwed on financing w/ new 2011 Taco?

Discussion in '2nd Gen. Tacomas' started by kwelhand, May 24, 2011.

  1. May 24, 2011 at 6:44 PM
    #21
    knayrb

    knayrb Well-Known Member

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    Utah
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    2010 Dbl-Cab Off-Road
    Pure stock
    I'm on the executive board of my Credit Union. We are always comparing rates with other CU's in my area. With your score of 750 and a paycheck you should be pulling about 2.99% for 5 years. I little higher for more months. IMO you should never take out a vehicle loan for more than 5 years and even at that you should put at least 25% down. 4 years is a much better option. Any more than that and you'll be upside-down on your loan right out of the gate. You'll never keep up with the depreciation and if it get's totaled you will be making payments on a vehicle that doesn't exist anymore.
     
  2. May 24, 2011 at 10:17 PM
    #22
    kwelhand

    kwelhand [OP] Well-Known Member

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    Thank you very much for everyone's 2 cents.
    Looks like I got a decent deal overall.
    I'm planning to pay off within 2 yrs... hopefully. :)

    I love my new Taco and this wonderful site!
     
  3. May 24, 2011 at 10:37 PM
    #23
    MountainEarth

    MountainEarth Well-Known Member

    Joined:
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    Bryan
    CO
    Vehicle:
    2010 TRD OR Access
    Leer 100XR Shell, BedRug mat - comfy sleeping, GT Covers microfiber seat covers, BFG All Terrains 265/70r16, Dashmat, Antennax 13" shorty antenna, Weathertech liners, Ultra Gauge, Avid Light Bar, PIAA 520 ATPs, one old dog
    Every state is different. When I bought in Colorado, the very best Toyota was offering on Tacos was 5.5%. At the time, Toyota's big sale event - "Toyotathon" was going on, and they were offering 0% on other vehicles, but Tacos are such solid sellers in Colorado, every dealer told me that they didn't have to reduce rates .. that it was take it or leave it or bring your own financing with you.

    So I financed at 5.5% and as soon as I could, refinanced with my credit union at 3.9%. So talk to your bank or credit union. You absolutely can refinance and get a better rate.
     
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