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Old 10-09-2021, 11:00 AM #31
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The best rate is usually offered by a bank. But as far as we know, it is not very easy to take a loan from a bank.
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Old 10-09-2021, 03:48 PM #32
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Purchased my 2021 TRD ORP about a month ago, 1.99% 72 months. Went through the Toyota dealer who got the rate from Bank of America.
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Old 12-22-2021, 03:20 AM #33
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Quote:
Originally Posted by osugsxr View Post
correct try local credit unions and banks, i've always had better luck with credit unions for the best rates.
I totally agree with our on this, I highly recommend.
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Old 12-22-2021, 10:19 AM #34
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Suncoast Credit Unions have always given me the best rates.

I'm currently at 3% for 84 months.
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Old 12-22-2021, 10:23 AM #35
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rates are pretty good at 84 months and with the residual value of a 4runner it can make sense do 60/72/84 . I usually stay around 36 month or less
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Old 01-13-2022, 01:22 PM #36
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Quote:
Originally Posted by vondy21 View Post
I have 1.65% for 72 months through my credit union. You might have to go back and forth between them and the dealer, it's their "beat the dealer" rate.
Yes I have about the same rates for my vehicle. Over the years I’ve found that the Credit Unions always had the best deal. But the current inflation increase may end those cheap rates soon.
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Old 03-26-2022, 08:28 PM #37
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Don't all 5th gen buyers pay cash! And have an Audi in the garage?

Joking of course
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Old 03-27-2022, 01:10 AM #38
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Don't all 5th gen buyers pay cash! And have an Audi in the garage?

Joking of course

Jesus if you watch enough YouTube and TikTok you’d sure think so!


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Old 03-29-2022, 05:28 PM #39
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Quote:
Originally Posted by Mattei213 View Post
Can anybody enlighten me? I'm currently at 4% for 48 months. I wonder if I'm being mugged? After reading the thread, I've seen many better conditions than mine. What are these companies taking into consideration when performing loans with various interests?

How’s your credit and history? Who’s the bank? There are so many pieces to your story that we can’t really apply a blanket statement or reasoning.

As a former finance manager, I have seen some banks put a higher buy rate on 36 and 48 months. As a consumer, it seems counterintuitive, but remember a bank seeks to make money on these loans. So they’ll put a higher rate in exchange for the shorter term, in short the bank always gets their money.

Either that or the dealer added a point or two to the buy rate and you accepted it.


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Old 03-29-2022, 06:03 PM #40
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Can anybody enlighten me? I'm currently at 4% for 48 months. I wonder if I'm being mugged? After reading the thread, I've seen many better conditions than mine. What are these companies taking into consideration when performing loans with various interests?
I would say your credit score usually is the biggest factor. Next is who you borrow the money from. Dealers are usually the worst unless they are desperate to make a sale. Rates between banks can vary a lot. The big banks usually charge more than smaller banks. I’ve found Credit Unions almost always have the best rates. Did you shop around? How much have you already paid off? If you already paid 20% banks may give you a better deal if you try to refine the loan because it’s a lower risk to them. But even if you just bought it shop around anyway because there is a good chance that your car is worth more now than what you paid and that works in your favor especially if you have a popular car.
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Old 04-01-2022, 12:11 PM #41
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Old 04-01-2022, 12:59 PM #42
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Penfed credit union usually has good rates. I've used them and logix credit union in los angeles.

Current Rates
1.99% for 60 months
2.39% for 72 months
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Old 05-23-2022, 11:52 AM #43
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I decided to buy a car on credit. I know many pitfalls as a former bank employee, so I carefully chose a car loan. When choosing the company with the most favourable conditions, I used reviews of borrowers on forums, studied information, and looked around all the top search engines. I chose 18 banks that offered car loans on the most favourable terms and started calling loan officers. After talking to them, I generated a dozen offers with the best car loan terms. Then I chose a particular company to which I entrusted wealth management. The specialists reviewed a number of my ideas and helped me plan the best solution.
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Old 05-26-2022, 08:47 AM #44
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I also decided to buy a car on credit. Being a bank employee in the past, I know about many pitfalls, so I approached the choice of a car loan carefully. When choosing a company with the most favorable conditions, I used the reviews of borrowers on the forums and in the end I came to the conclusion that it doesn’t really matter which bank you take a loan from, the main thing is that it be a well-known and reliable bank. Here's what's more interesting, you can also take a goodlifehomeloans.com reverse mortgage to pay off your current loan, and thereby increase the loan term in fact by almost 2 times.

Last edited by Astralopitec; 06-01-2022 at 05:08 AM.
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Old 05-26-2022, 11:01 AM #45
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I picked 5 banks that advertised low terms either as an existing customer (my credit union, etc), or a new one (where I have never had an account with).

I chose:

2 local Credit Unions (1 I have an account with, 1 I don't)
2 Online Banks
- Ally (never banked at before)
- Capitol One (have well established credit card)
1 regular bank
Bank of America

and checked them all in an afternoon so the hit would only count once on my reports.


Middle 600's FICO, high salary, though only 10 months on this salary and job.

Winner is...:

Ally Financial with 30k at 3.8% for 72/mo

I always go a longer term, with enough savings/plan to pay off at 24-36 months. This ensures you pay the least in interest, BUT if life shit hits the fan, you have a lower monthly payment to worry about.

Walked into dealership, offered the check, talked them into giving me the toyota care warranty thingie (basically since it was certified used, it restarts the warranty on 98% of the parts, for the next 100k miles), denied all of the dealer bullshit, they signed up the paperwork, and I was out the door in maybe an hour.
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