toyota's special financing

They currently offer a 1.9% for 36 months.

Ok, what's the catch?? There is no prepayment penalty either.

Should I be reading the fine print on this?

For the truck I want, I'd only be coughing up a little more than $1000 total interest.

 

How high are the monthly payments on a 36 month contract? There probably is no catch as long as you can swing the payments. I have used Toyota Financial before and am again on my truck. The first time through no problems and I did pay the car off early.

 

when i bought mine they had 0% financing for 36 months...but that doesn't help...your payment will still be high if only financed for 3 years...i financed mine for 6 years

 

TFS is good to finance thru, not strings attachched. I couldn't finance anywhere else for less.

 

i have it through TFS Mexico, my interest rate is 13.5% anual, 48 month plan (and that was a special rate, go figure) i have no penalty on early payments... 30 more payments to go..... sighs

 

When I financed mine last year through Toyota Financial they had a deal of 4.9% for 60 months. I had to point it out to the dealer and haggle over it for an hour. Then, when I went into the finance office, the guy says my credit is so good that they are giving me 4.5% for 60 months. Why the hell they didn't run my credit first I'll never know. Just remember, finance rates are as negotiable as sales price. Dealers get kickbacks from banks for increasing the rate. If you have good credit, you WILL get the deal you want. You just may have to work at it.

 

Actually it's a nice thing they didn't run it first and gave you a ballpark, having to many checks for credit can go against your raiting...

 

Good point, but I actually had to bring up Toyota.com on their computer to show them the interest rate specials. The rest of the buying process went smooth as glass, I just wish they had been more educated on their own finance rates. Oh well, it was a learning experience.

 

i just wanna know how you get excellent credit...i mean i have a house, 2 cars, have had cars in the past...never missed a payment of any kind and yet my credit is still at like 725....or so...you have to get to 740 to be in excellent rating...i'm just at good...lol...my loan rates are like 6.9%-7.1% range on cars...would like them to be a little lower

 

Have you ever been divorced, i heard that can jack your credit rating for a little while. Get a copy of your credit report and go over it, sometimes there are things from the past that were not closed out correctly showing you as haveing old accounts still open.

 

Paying on time is just a portion of the equation. You have to have a favorable debt/earning ratio as well. If you have quite a few outstanding loans (motgage, car, equity line, boat, etc.) that will drop your credit rating as what you owe consumes a more significant part of what you earn.

 

Can you afford the $800.00 payment a month?

 

if you can bang a 30k truck off in 36 months,you da man and do it. i couldnt afford $800 monthly car payment.i have other bills as well as my truck

 

no i haven't been divorced...but i have 3 loans right now...but at the time i got the truck i only had 2...maybe once i pay my car off it will go up...got about 2 years left on it

 

Hmm.. I'm at 7.5% with toyota. The dealer started with 7.9% but i wouldn't go for it. I guess the dealership has a .4% cut.

 

First off,know your credit score & check your report reg..Even if you have 0 balance on your cards,but high limits on them it can hurt your score.Keep your c.c.limits to the min.you would need in an emergency.You also need near perfect history & score to qualify for most of these low or 0% rate deals.Shop elsewhere first,get your best preapproved rate & use it as a bargaining tool for them to beat,but don't tell them what you have cause they will just barely go lower when maybe they could do better.Also,as someone said,don't let them run a check,it will lower your score.I carried a copy of mine with me to prove my score to them if needed.I had a rate I was happy with from my c.u.,but got them to beat it .625% which benefitted both of us.I also had a substantial down payment I teased them with which helped me get my #'s.That was 2 yrs.ago this month & I now have an 07'that's paid off w/only 30k miles.It does pay to do your homework b4 going to the dealer.

 

The only catch for me was that i couldn't borrow less than $10,000 for my 0% 36 month loan to seal my 2009 TRD.

My 0% interest loan actually comes out to less than the $10,000 i took from them.

Payments......$277.77 a month
36 Months
------------------------------
Total...........$9999.72

That is about as legitimate a 0% loan as i can imagine is available anywhere.

 

Not when they're in a short period of time like a 24-48 hour window. It's like when buying a house, a couple of credit checks will count as one in the final score.