APR for financing brand new TRD Off Road?

[rodralig]

Good morning!

I'm a newbie here and looking to getting my first 4x4, and yes, 4Runner.

That said, been shopping around, and the dealer quoted me 3.9% for a 60/72-term financing plan through Toyota Financial Services (TFS) for a brand new 2018 TRD Off Road Premium. This is in spite of me having very good credit (770+) and a repeat customer with TFS.

Why is it so high? Both my cars (my commuter and my wife's daily driver) were paid with 0.0% with 4-years (ending in March '18) and 5-years' term (ending July '18); while my motorcycle is at 1.9%.

What APR do you have for your 4Runner, assuming you're financing? And if you don't mind - through what bank, credit union, credit provider, etc?

Thanks!!!


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[Morphyne]

It's because the economy is improving and automakers no longer need to loan you free money. You can thank pres trump for the recovery.

 

[Muzzle of Bees]

Good morning!

I'm a newbie here and looking to getting my first 4x4, and yes, 4Runner.

That said, been shopping around, and the dealer quoted me 3.9% for a 60/72-term financing plan through Toyota Financial Services (TFS) for a brand new 2018 TRD Off Road Premium. This is in spite of me having very good credit (770+) and a repeat customer with TFS.

Why is it so high? Both my cars (my commuter and my wife's daily driver) were paid with 0.0% with 4-years (ending in March '18) and 5-years' term (ending July '18); while my motorcycle is at 1.9%.

What APR do you have for your 4Runner, assuming you're financing? And if you don't mind - through what bank, credit union, credit provider, etc?

Thanks!!!


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We have credit unions that are offering a 1.79 rate in our area. Toyota finance will try that crap to bump their profit.
keep looking.

 

[TacoRunn0517]

Not sure if that is the case or not ha. What I do know is based on Toyota's website, ,https://www.toyota.com/deals/4runner/, there isn't a 0.0% APR offer like there is for other vehicles on deck. Could it be the high demand? That would be my first educated guess.

 

[rodralig]

It's because the economy is improving and automakers no longer need to loan you free money. You can thank pres trump for the recovery.

Makes sense, indeed... And that I will understand...

But living here in Komiefornia with the state tax hurts the wallet so much... Hahaha!!!

We have credit unions that are offering a 1.79 rate in our area. Toyota finance will try that crap to bump their profit.
keep looking.

*nod*

Understood. Will do so. Thanks!

Not sure if that is the case or not ha. What I do know is based on Toyota's website, ,https://www.toyota.com/deals/4runner/, there isn't a 0.0% APR offer like there is for other vehicles on deck. Could it be the high demand? That would be my first educated guess.

Non-Zero APR is fine; but was expecting in the 2-range...

But I guess what hurts more than the APR is the Komiefornia state tax... *LOL*


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[scubajosh77]

I have good/excellent credit. 775ish. Best I could find in my area was 3.19 for 72 months.


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[arehman11]

2.49 with excellent credit. Rates are just not as low as they used to be. My previous car was 1.6% and prior to that was 0.9 for a Lexus.

 

[rodralig]

Got it!

I have a 2.25% pre-approval from my credit union a few weeks back (expiry December 15). I guess I'll have to go with that...

Cheers,

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[NZDZRT]

Interest Rate

The reason that Camry and Corolla (and others) offer the 0% is because Toyota does everything it can to sell lots of those vehicles. With 4Runner, Sequoia, Land Cruiser and such: People will buy them if they want them. If you can get your BEST local rate, TFS will match it. Also: you won't get 0% locally, only from a manufacturer.

NZDZRT

 

[SSDuck8]

keep in mind prime rate is currently 4.25 and the market is expected to see a jump in rates again next month. Buy now my friend...

 

[Kelevra]

keep in mind prime rate is currently 4.25 and the market is expected to see a jump in rates again next month. Buy now my friend...

Truth.

Also, for the OP, good to keep in mind that rate may get you additional incentives ie $ off rebates etc, if you finance with Toyota.

 

[Senorlechero]

Toyota doesn't incentivize the 4runner, at least not in my area, so you get TFS standard rates.

You can possibly get lower rates if you go through your CU or bank, which the dealership can often do for you, saving a trip or two and a bunch of time.

 

[rodralig]

Correct. There are not much incentives nor rebates on the 4Runner, so, it doesn't really make sense to go with the 3.9% from TFS, now that I've gotten a pre-approval of 2.25% from my credit union. Luckily, too, with just one phone call an hour back.

That, plus, I negotiated the OTD price before any mention of financing options.

Cheers,


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[mscot]

Show that 2.25 to the finance manager and they may match it. I got them to beat my banks pre-approval.
Aside from convenience at the dealer I'm not sure why you wouldn't go through your credit union anyway - if they treat you right as a customer, treat them right as a business.

 

[rodralig]

Show that 2.25 to the finance manager and they may match it. I got them to beat my banks pre-approval.
Aside from convenience at the dealer I'm not sure why you wouldn't go through your credit union anyway - if they treat you right as a customer, treat them right as a business.

I am going with my credit union. They've always treated me nicely from day #1...! To get pre-approval for today at 2.25% for 72-months didn't take more than a 10-min phone call. Now, that is SERVICE!!!

Cheers,


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[screamoon]

I am going with my credit union. They've always treated me nicely from day #1...! To get pre-approval for today at 2.25% for 72-months didn't take more than a 10-min phone call. Now, that is SERVICE!!!



Cheers,





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That’s the exact route I ended up with recently. 2.74 for 72 months. So you did good. That’s the best I have heard of for this truck.


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[manganos]

I ended up with 1.9 for 72 months. I went to my credit union and got this rate and Toyota matched it. It also got me a deal on an extended warranty on the 4R. Credit is score is in the low 800's.

 

[rodralig]

Thank you for everyone's responses...

I just pulled the trigger yesterday at the local dealer when I received notification that the 4Runner from Japan just arrived.

Have also opted for the TRD wheels the BF tires option - would be waiting for the parts to arrive for installation.

Cheers!! :rapture:

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[DriveT4R]

2% or less is doable. And don't do 72 months.

 

[manganos]

I'd do 172 months if it was almost free money. My 4Runner is a toy for me and usually I pay cash for toys unless the interest rate is incredibly low.

2% or less is doable. And don't do 72 months.