0% Toyota Financing -- April 2013

Yes, your pricing shouldn't change to take the 0 apr. FYI from a dealer's / dealership perspective, I don't care how you pay for your car. I just hope you have good enough credit to qualify for the 0% and I will mention it so there are no problems or miscommunication!

 

Excellant incentive. You're able to roll all cost, taxes, tags, extended warranty etc, into the 0%, 60 month financing deal. No reason for anyone who qualifies, not to take advantage. Kind of like, "I'll gladly pay you between now and sixty months, for a new Prius today". Actually, your first payment isn't due for about six week from taking delivery. Who's your daddy? Toyota is my daddy.

 

Keep in mind tho that most, but not all dealers will not let you go below sticker price when you take the zero percent financing.

 

I had no issues with my dealer. As long as I qualified, you can loan whatever you like associated with TFS.

I bought mine last month and only 1.9% for 60 was offered. .9 wasn't an option.

 

I've got - in my region - on 2013 liftbacks and wagons, 0% for up to 48 months.. and 0.9 for 60 months.

We have other rates for other Prius models... the 2013 c is 0% for 36 months ONLY... and the 2013 PlugIns are 0% 36 months, 0.9 for 48 months and 1.9 for 60 months.

Each region varies.

 

Me too. I was a bit disappointed to see they dropped the interest rate a percent two weeks later...

 

I negotiated below sticker and got the 0%, also if you have not bought a new car in a while be ready for "back end sales" of the warranty and Toyota care. Lots of threads on both the warranty and Toyota care to help make your decision.

 

technically it's a different deal as it's a shorter term. I'm wondering if I can switch over since it's only been less than 1 month?

 

1. I used the pre approval though the Toyota financial website, just so I knew where I stood. It was not through any dealer. 2. Not sure about that, I just found from Prius chat and other dealerships what people were paying and went in armed with what I was willing to pay. 3. After I negotiated the price, the dealer applied for 0% for me, took about 10 min. The pre approvial was less than a min on the website.

0% did not cost me more, not even a charge or small % for every thousand, Just my total divided by 60 months.

 

It's always unfortunate when things change ... but they rarely are "very" different, for the most part. You can't rewrite when you're that far off in time... it's not the dealer's *deal* but the manufacturer's.
I try to put this in perspective for folks: if it's 0.9% today and it changes to 1.9 tomorrow, you wouldn't offer to rewrite to pay more... you bought when you bought.
We never know when they are going to improve things or worsen them. They rely on some serious data assessment with weekly, daily, and monthly sales and compare region to region... and even down to district to district. They figure out of they are - by ratio or percentage - above or below supply vs demand... and this isn't done till the bitter end (of the month and incentive period)... so things don't change when they are where they wanna be (is "it's working, don't fix it) or, if they are getting above their projected numbers and worry about having enough cars to meet demand, they might raise the rates to slow sales or leases. And, vice versa. rates drop if the supply gets a tad too high. No way for you, or me to know if this is the case across the states or regions... so just get your car when you need it and let the universe bless you in some other way! It usually does.

 

Dianne thanks for your insight how those things work. When manufacturer incentives such as special financing are announced, is there normally a set period or end date? Or, can they be rescinded or changed at any time?

 

I was not able to change over.

The promo always note an end date. I see this one is 4/30 over here.

 

So the offer says "Offer available only through Toyota Financial Services to well-qualified buyers with premium-rated credit. 36 monthly payments of $27.78 per $1,000 borrowed. No down payment required if qualified. Offer ends 4/30/13."

That makes it technically not 0% APR right? That's getting charged 2.8% up front to borrow money for 3 year

 

Do the math, it's no interest. 27.78x36= $10,000.08. It's just a note to assist you to estimate monthly payments.

 

dont you mean 27.78x36 = $1,000.08?

Kenji, it 0% interest. Say you finance $25,ooo. 36 monthly payments of 27.78 per $1,000 borrowed --> $27.78 x 25= $694.50 per month. $694.50 x 36 months = $25,002.
So you're technically right that its not completely 0% because you're paying that extra $2 :-P

 

Thanks guys for the clarification. I stand corrected