$500.00 cash back or 0%APR, but not both?

I order my Four today and was surprised when the salesman wanted me to choose between the $500.00 cash back or 0%APR. I chose the $500.00 cash back, since I'm only financing about half the cost, but I would have liked that 0%APR also. Did he see me coming, or is it one or the other? Of course, since I wanted red with beige interior, it had to be ordered. He gave me a window of 2 months max, which is ok with me. I have a high credit score and am hoping Toyota gives me a great rate. Is this likely, or should I have gone with the 0%APR?

BTW, I got a Truecar price, but he tacked on a destination charge. Anyone know if that was supposed to be in the Truecar price.

Anyway, with 8.75 tax, it came out to a hair over 30k, after some haggling to take most of the destination charge off the final price. It's a Four with no options.

 

He couldn't tell me, saying that the car has to be delivered first. I don't trust any of the dealerships in my area, and am always skeptical as to anything they tell me. I'm calling Toyota tomorrow to see what they say. The fine print on the 0%APR ad on their site doesn't say it can't be combined with any other offer, but the fine print on the $500.00 cash back does. I have to do the math to see which is a better deal if I have to choose. Yes, paying all cash would have been the way to go, but right now I'm not able to do it. Wonder what Toyota will charge APR-wise for 800+ credit score?

 

Yes, they knew I was ready to walk out, and this is a place that won't let anyone walk. I was hoping the Truecar price wasn't only for in-stock vehicles. They didn't seem to mind to have to place a special order. They gave me a window of up to 2 months, then I get my deposit back. No matter, I have a nice '08 to use in the meantime.

 

Yes, they had several Two's but not one Four. I'd be real lucky if they locate one at a dealership in this region, and without the optional packages.

 

Yes, that's the smart way, but psychologically I enjoy smaller monthly payments, and so does my wife!

 

Funny, my dealer didn't have 0.9% on his computer at all, only 0%. They also had the 500.00 cash back. Guess it's a crap-shot as to what will show up in a particular area.

 

After mulling it over a bit, I might go with the 0%APR and forfeit the $500.00 cash back. That will bring my price up to a little over $30500.00, which includes taxes and other charges.

 

"Penfed has 1.5% auto loans for 36 months. 1% if you use their true car link. Personally I'd take the $500."

Yes, at that rate it pays to go with the $500.00 cash back. Seems you can't find out what the Toyota rate will be until you're ready to pick up the car. I'd rather lock in a low rate now, than be at the mercy of Toyota. I'll check out the link...thanks!