Question about buying 2nd Gen Taco

https://www.autoexpresscars.com/inv...-trd-pro-4wd-4d-double-cab-3tmlu4en7fm171654/

Planning to buy this. Everything looked okay when checked by mechanic but my bank wont finance with the dealer.
Is this a redflag? Can I still go ahead finance with the dealer's bank if the vehicle checked OK?

Is there a possibility the mechanic might have tied up with the dealer?

The process is so taxing and I appreciate any help in solidifying my decision. This is going to be my first pick up truck ever.
I even paid to get the VIN Check report and $60 for mechanic check-up. All looked okay so far.

Please let me know if there is anything else I am missing.

 

Only issue I can see is it’s a TRD Sport, but advertised as a TRD Pro. Not a bad thing, just inaccurate advertising.

 

That doesn’t make sense to me. The loan transaction is between you and the bank not the dealer. It doesn’t really matter who the dealer is. It would be the same if you were buying from a private party. The bank doesn’t care who the private party is. The loan is underwritten based on you and your ability to pay back the loan and on the vehicle and the price of the vehicle. I think that the bank won’t finance with you, not the dealer. Ask your bank the specific reason your loan is being denied.

 

Maybe find out who the dealers finance company is and see if your bank will do business with them. If they will, finance thru the dealership, wait a few weeks for the paperwork to be done, then refinance with your bank. It's done quite often.

 

@Sprig I did. and thats exactly what I mentioned. "Why do you bother who I am buying it from?"
They mentioned that was the decision based on their past experience with the dealer. It seems like the dealer's certain financial practices were fraudulent. On the other hand, I am pre-approved for the loan by this bank and they denied it after I gave them the dealer's P.O.

 

@ardrummer292 thanks for the reply. That was mistake on their end and offered a $500 discount on final price. My current thoughts are, am I missing something here? Is there anything else I am supposed to check?

I am mainly purchasing this for a cross-country trip I wanted to do before I leave the country. @Ripcord 's wedge camper rig has been inspiring and wanted to build it too. I know tacos are very reliable but @100k miles is this still good for my purpose or am I better off getting a new Off-Road with MT.

 

@Rocketball refi is an option and I confirmed with my bank too. Just bums me that I need to take another credit hit while my current offer is pre-approved.

 

Your bank and the banks the dealer uses should come close to the same interest rate since its typically based on your credit score. What interest rate was your bank offering you? A pre approval letter many times is just a marketing ploy to get you to apply for a loan. Tacoma's are selling for way more then blue book value you right now, so your bank may have denied you due to them thinking the truck is way over priced. But if you have good credit, most banks will over look this.

Buying a vehicle is not this hard. If you know how your credit looks, a simple google search should show you what you should be looking at for an interest rate. Let the dealer shop the financing for you as you will have an idea of what rate you should qualify for.

Not sure why you paid for the vin check when their website shows the car fax for free.

 

I work in lending for a credit union and unfortunately that does happen. There are dealers that we don't do business with for one reason or another. It may seem like your bank is doing you a disservice, but in reality, they're looking our for you as they want you to have a positive experience. PM me if you have any questions.

Now as far as the truck goes, that is indeed a 4wd TRD Sport from the looks of things. I don't think there's much to be worried about. However, I checked out the VIN and it looks like it's eligible for the frame inspection. I would suggest poking your head under the truck and taking a look for rust.

 

@Mike714 Thanks for the input.
Surprisingly the bank just called me and approved the finance. They mistook this dealership with something else that had similar name. Checked the rust on frame and it is only surface as per the mechanic too.
Appreciate you checking the VIN, thank you very much.

To everyone who responded and the Tacoma world community, thank you for pitching in to help this dumb and worried buyer .

I am going for it , looking forward to meet some of you on my cross country journey.

 

Excellent! Glad to have you! Post some pics once you get her home! Welcome to TW!

 

Congratulations I too have a trd sport, MT, I love it!

 

Quick question: Whats the best way to secure cargo in the bed while water proofing it? I do not want to invest in a tonneau cover or the cap as I will be eventually building a camper.

 

Congrats on the future purchase. Looks like a good buy. According to the carfax, the frame was treated a year ago. The only concern I have and will have them fix prior to taking possession is the airbag light that's on. It could be a simple reset or something more serious related to faulty wiring or clockspring.