What interest rate did you get on a 60 month loan from Toyota Financial?

5.0% in mid february, not through toyota. In fact, our dealership said "The best rate we can get for people right now is through xyz bank and that's who we deal with"...

We said thanks but, no thanks and did our own at 5.0 for 60 months.

 

bah... toyota financial shminancial... i got 4% from credit union! :lol:

 

<div class='quotetop'>QUOTE(eak354 @ Apr 14 2006, 05:51 AM) [snapback]239628[/snapback]</div>

8.25% so I paid it off.

 

1.9%

And the only reason I financed it was to get a better price on my trade in. As soon as I'd owned the car for a few months, I paid it off fully. Toyota doesn't need any more of my money.

 

<div class='quotetop'>QUOTE(Jonnycat26 @ Apr 14 2006, 07:40 AM) [snapback]239677[/snapback]</div>

How long ago did you get the 1.9%? That is an excellent rate.

 

I used Capital 1 for my financing (5.9%) and had my blank check in hand when I walked in to purchase my Prius. Toyota ran my credit through their financial dept nonetheless to see if they could give me a 'better deal' and they came back with a 7.75% rate I believe. No thanks!!! Needless to say, I passed up on their offer.

 

Toyota was offering in the neighborhood of 6.5 to 7.5 when I bought my car. I got 4.99% through my credit union.

 

My credit score is 580. Toyota Financial offered me 17.5%.

Beat That!

All because I have a check off on my credit caused by me paying off my Solara earlier than expected (I sent them an $8000 final check).



I wonder what options I have If I can't get it fixed.

 

<div class='quotetop'>QUOTE(uclabruins @ Apr 14 2006, 10:44 AM) [snapback]239680[/snapback]</div>

It was June 2004. And they had initially offered me something in the 4s, but I used the fact that I could finance thru my credit union as a bargaining chip.

 

My credit score was in the mid-700's and all they could offer me was some BS 7.5% rate. I called my CU the next day and got it down to 5.49% and took a check back to them.

 

<div class='quotetop'>QUOTE(Screwdriver @ Apr 14 2006, 12:07 PM) [snapback]239723[/snapback]</div>

I would make some serious inquiries...I've always paid off my loans early (car loans and student loans) and I've got a FICO score of 830, although the score is affected by many different variables, such as the amount of time you've had credit in your name.

 

Carlsbad matched my CU 4.99% in 8/05.

 

5.3% in February.

 

As you can see from the examples, the rates can vary widely. The way this usually works is that after checking your credit TFS, and the other banks that your dealer works with, sets a price. If your dealer sells you a finance contract at a higher interest rate, they get extra profit. To sell you a contract at a lower rate, they have to pay the finance company - like paying points on a mortgage. If they do that, they are usually getting the money back from you in some other part of the transaction. Like any part of the transaction, the best way to go is to negotiate the interest rate separately from the other parts (the car price, the trade in, any additional service contracts, etc) and know how much each should cost. If they see you aren't paying attention to each item you are buying, they will give you a good price on one of them to make the deal look good, and jack up the price somewhere else.

 

My dealer lied to me when he said I'd get 6.0% (back in August), I actually got 6.3%. Just for that, I paid the car off after 6 months. TFS can bite me.

 

Paid Cash, 29,195...Pkg 8...2006

 

Same 5.95%, but with 400$ cash back

 

I got my loan a year ago from my credit union. I think it is 4.69% for four years. Toyota couldn't come close and didn't try. Perhaps that's why the finance guy tried so hard to sell me lojack, extended warranty, et al.

It's not just the rate of the loan, it's also the life of the loan. In other words are they giving you 6% for 5 years and 5% for 6 years? Because the lower rate will cost you more over the long run.

 

Sept '05 when I got my used '04 with very low milage,my credit union give me 4.14 for 48 month against Toyo finance at a superb 7.40 something. I took my money and Shove it to de dealer...................... an also they offerme a great deal of an extended warranty at $1600.00 on another loan, I surely pass on it.
But I got a great deal on my car.