0% financing on 2020 Tacoma

[LexusAllTerrain]

If you can get vehicle at 200 over invoice minus rebates plus 0% interest you are a winner!!!!

 

[Smileyshaun]

I believe the savings/cost you are referring to depends on state but I am not completely sure.

And yeah- If you're paying cash for a vehicle and not getting some type of cash discount then you're getting ripped off and should be financing it but if it's MSRP at 0% APR or MSRP using cash they cancel eachother out.

But paying cash is Not always the best decision especially with a favorable interest rate like 0%. Dropping 30K one time takes a big chunk out of your account value for "rainy day" reasons if you will vs borrowing that 30k for 72 months with no interest wont have the same affect. Instead, it increases your monthly budget. When it comes to 0%- paying cash for a car almost does not make sense, financially. However- if you're doing a higher interest rate then yeah cash makes more sense- if you have it and it financially makes sense.

It's all a game few people really understand. When I buy a car I'm most worried about my APR, then how much I'll be paying for the duration of the loan (including interest) and then finally my monthly payment.

I'm looking for a new truck as we speak and I got some quotes with the industry standard of 4.9% APR where I would have paid more TOTAL (including 7 years of interest) for the truck than what MSRP is.

I would look at local credit unions for a loan , my last new car loan was 2.1% and the loan I just took out for a 2006 truck is at 3.1% . It depends a lot on your credit score if you can get it up above a 760 your interest rate drops dramatically. And to get the 0% interest rate deals you have to have tier 1 credit anyways

 

[toylandcruiser]

ummm, yeah... in my post I literally listed 10+ yr generations for 3 Toyota vehicles. Of course I know that’s how they operate. Given the post of yours I replied to, I thought YOU didn’t understand how they operate. You replied to a guy who was basically saying that the 4th gen Taco is 6 yrs away (showing that he *does* understand how toyota operates), and you accuse him of not understanding how Toyota operates. That’s why I listed the extremely long gens of Tacos, 4Runners, and Tundras—I was giving examples to support his post that Toyota generally keeps a platform for a long time.

The way he wrote it out it seemed as if he was being a ****************** as to how Toyota doesn’t change lot. I’m sorry your feelings were hurt.

 

[phsycle]

The way he wrote it out it seemed as if he was being a ****************** as to how Toyota doesn’t change lot. I’m sorry your feelings were hurt.

I have yet to read a post of yours that was remotely helpful, thoughtful, or not demeaning. Keep up the good work.

I would look at local credit unions for a loan , my last new car loan was 2.1% and the loan I just took out for a 2006 truck is at 3.1% . It depends a lot on your credit score if you can get it up above a 760 your interest rate drops dramatically. And to get the 0% interest rate deals you have to have tier 1 credit anyways

For financing, credit unions seem to have best rates. Although, if you buy from a dealership, I’ve had better rates quoted from the CU through the dealer financing dept than reaching out to them privately.

 

[Smileyshaun]

I have yet to read a post of yours that was remotely helpful, thoughtful, or not demeaning. Keep up the good work.



For financing, credit unions seem to have best rates. Although, if you buy from a dealership, I’ve had better rates quoted from the CU through the dealer financing dept than reaching out to them privately.

The thing I like about going direct to your credit union is your credit only gets ran once , years ago when I bought a rig I found out the dealer had ran my credit at 9 places checking for rates , I wasn’t happy at all .

 

[johnnyshaner]

I had been looking at Tacomas for quite a while (my former daily driver, now weekend cruiser, is a 1987 Land Cruiser), but just . . . couldn't pull the trigger. The 0% financing for 60 months and the huge discount on the truck made me pull the trigger. I was happily surprised by my experience, and am extremely happy with the truck.

 

[givemethewillys]

The thing I like about going direct to your credit union is your credit only gets ran once , years ago when I bought a rig I found out the dealer had ran my credit at 9 places checking for rates , I wasn’t happy at all .

Your credit only gets dinged once when it gets ran a bunch of times all at once, so it doesn't really affect your credit score beyond the first one. At least that was how I understood it when shopping mortgages.

 

[Todd780]

Your credit only gets dinged once when it gets ran a bunch of times all at once, so it doesn't really affect your credit score beyond the first one. At least that was how I understood it when shopping mortgages.

That is the way I understand it as well.

 

[phsycle]

RE: credit pull. No, once you start pulling with different institutions, it WILL start dinging your score. Even a soft pull will affect it after several inquiries. Now, it’s not going to be a 100pt drop. But it will affect it some. I make it a point to keep the pulls to a minimum.

 

[toylandcruiser]

I have yet to read a post of yours that was remotely helpful, thoughtful, or not demeaning. Keep up the good work.



For financing, credit unions seem to have best rates. Although, if you buy from a dealership, I’ve had better rates quoted from the CU through the dealer financing dept than reaching out to them privately.

Ok? You’re being kinda of selective in what you see but that’s your issue not mine.

 

[LexusAllTerrain]

The thing I like about going direct to your credit union is your credit only gets ran once , years ago when I bought a rig I found out the dealer had ran my credit at 9 places checking for rates , I wasn’t happy at all .

Why???

 

[Over The Silent Planet]

The way he wrote it out it seemed as if he was being a ****************** as to how Toyota doesn’t change lot. I’m sorry your feelings were hurt.

Nah man. Nothing confusing about what he said, unless you’ve got a chip on your shoulder. ✌

 

[seb345]

I feel like it’s an amazing option especially in this economy and in this pandemic. I personally feel like a lot of people are struggling right now because of the pandemic and the fact that a lot of people lost their primary source of income and trying to find a decent enough credit or loan option is very important. I personally am currently in the process of looking for a new car and I have been worried about my potential credit and the percentages the bank my loan me money for. I am not very knowledgeable when it comes to banks and economics and all that crazy stuff so I decided to do some research online. I was lucky enough to find a really good website that kind of explained to me what I needed to do and what a credit line is in general. If you guys need to you can check the website here: https://www.moneyexpert.com/loans/home-improvement-loans/ Hopefully it will be of use to you guys as well.

 

[arctic04trd]

RE: credit pull. No, once you start pulling with different institutions, it WILL start dinging your score. Even a soft pull will affect it after several inquiries. Now, it’s not going to be a 100pt drop. But it will affect it some. I make it a point to keep the pulls to a minimum.

Not to barge in on the thread (as I was enjoying the comments) but this is simply not true.

What others have said above it the reality. Once an institution runs a credit check on you, it is open for 2 weeks, if Im not mistaken. Anything in this period will not affect it after the first hit. Also, a soft hit doesnt affect the score, but they also have limited info they can view and so usually have to run a credit check. Maybe they also "lie" about saying its a soft check when its actually hard.

 

[phsycle]

Not to barge in on the thread (as I was enjoying the comments) but this is simply not true.

What others have said above it the reality. Once an institution runs a credit check on you, it is open for 2 weeks, if Im not mistaken. Anything in this period will not affect it after the first hit. Also, a soft hit doesnt affect the score, but they also have limited info they can view and so usually have to run a credit check. Maybe they also "lie" about saying its a soft check when its actually hard.

Ok. I’ve only been in the banking industry for the past 15 years. What do I know.