Minimum credit score for Toyota finance?

Yes I have heard that too. I have had a credit card - even a 300 limit when I was 20 most of my life. But what I have learned is get one and only get a small limit - charge a little, then pay off. It shows them you can handle a balance and pay off responsibly! Sometimes you can even do this with prepaids and it will build your credit.

 

Well I had a 680 as my single highest credit score (no bad credit, just not much of it). Toyota requires 680 as the lowest score on any of the three scores to be T2. I got 3.9% for 5 years.

Remember, finance charges are higher for used vehicles. You are better off just trying to pay it off early vs refinancing.

 

Yes that is what I think we will try and shoot for.

 

I did the same back in 02.Brand new Civic with 13% in. rate.Less than 6 months later I received an offer to refinance.Saved a boat load.Went to 5.9.

 

US govt is trillions in debt. Borrow over 100 billion a month to run this country. What do you think our country credit score is. It doesn't seem a problem to finance multiple wars and yet still have our cake at the same time.

 

... Here we go

 

Credit score is based off a number of things... one of which is average length of loan payback. Refinancing makes one loan have a short period of time on loan repayment, which lowers your average. If you want the highest credit score dont refinance unless you dont intend to pay off the second load early, it will be 60 months on refinance, and you wont buy a new vehcile till you have paid the truck off.

 

Well I can say this much. I filed bankruptcy back in may of 2007. By november 2007 I got financed thru Toyota for my 2006 Tacoma at a higher rate of 10.2. Then in Jan 2010 I traded in and got my 2010 Tacoma at a higher but lower rate of 8.2. Long story short I kinda screwed up my score. No late payments just too much credit. But this past November I was able to get an additional loan thru Toyota (as a lease tho) for my 2010 corolla at .03% rate. They told me that even tho my credit score may not be the best I'm still considered a high tier costumer cause I have history of perfect payments with Toyota financial. So I may go and refinance my taco soon and see if I can lower that rate. But I think once u get in good with Toyota finacial they are willing to keep giving u better options even with bad or low credit. At least that's how it worked for me.