Toyota Finance Interest Rates

[AussieAndy Find all posts View Profile Close AussieAndy]

Hey lippa, what dealer is this through? Did you do much haggling on the price? Can you pm me if you want, looking at a new GXL manual, got an awesome price locked away, just getting me on finance now, best they can do is 7.5% apparently. Cheers

[AJ120 Out of control poster! Find all posts View Profile Close AJ120]

Minus 500% is the current effective rate on the only money we owe at that rate I can't afford to pay it off

Cheers Andrew

[lippa Member Find all posts View Profile Close lippa]

finance rates, extra care warranty ect are all negotiable just like the vehicle price, mine was a chattel mortgage. Just tell 'em, if the rate doesn't start with a 5, ill use my bank. they will come down.

[antpower Junior Member Find all posts View Profile Close antpower]

I don't want to dig up an old thread but it's right down the alley of the question I'm about to ask. Has anyone taken toyota up on the 1% they're currently offering? It'd be interesting to see how much you actually got it for.

Not due for a replacement for a few months but 1% is enough to make me think about an early changeover. What seems crazy is they seem to be profiteering out of the finance rate, 2014 plate GXL auto diesel is just on $60K, 2013 MY14 (suppose to be part of the deal) is $63K+ And closer to $66K if they mention the rate. Sent out the feeler to a few dealers asking if they will do 1% on the 13/MY14 stock they have but they don't seem too keen to bother to even follow me up with anything more than an Automated email. Anyone else jumped on the deal? What are you finding out there? PM me if you like.

[Dan James Lurker Find all posts View Profile Close Dan James]

I think this 1% thing seems pretty legit.

I ran some numbers with a mate in finance and even though the car costs more (obviously because they have to pay for 1% somehow) it actually still turns out cheaper in payments and over the term.

Definitely worth a look !

[wanted Member Find all posts View Profile Close wanted]

I think this 1% thing seems pretty legit.

I ran some numbers with a mate in finance and even though the car costs more (obviously because they have to pay for 1% somehow) it actually still turns out cheaper in payments and over the term.

Definitely worth a look !

Humm, not sure how you have done your numbers but if you negotiate the price you are far better off than 1% with a 'normal rrp'. I went looking and just like other members found dealers to be sticking to higher price and guess what I do not plan to buy an 2013 model to pay higher price. I can wait. For me Prado will be a huge jump from my Corolla so I am willing to wait. Just as a side question did you actually buy something or not? If you did, mind sharing the details, I might come on board as well!

[antpower Junior Member Find all posts View Profile Close antpower]

Just doing some really rough numbers on the trusty HP 12C calculator (finance industry standard), and let's say based on 64K car (no fees), 30% residual over 4 years you pay $9030 more between 1% and 6%, now if you pay $5-6K more upfront your only in front by $4-5K (I know I should really re-calc off the principal, so waiting for the finance boffins to shoot me down, besides as haven't used the Interest functions for some time)! Yet the plate is a year older as 2014's are cheaper than 2013 MY14's that attract the deal, so probably loose that at at time of sale after your 4 years?
But who is actually paying? Toyota finance is offering the deal to move some old stock so should hardly impact the dealer? Keep in mind Prado sales are down 15% so they need to stimulate channel sell through otherwise they will end up with a bottleneck. So is it really a great deal?

[wanted Member Find all posts View Profile Close wanted]

Good point and that is what I got told as well, that the numbers are not making sense just dealer trying to cover some ground lost in sales. But if someone finds a dealer ready to move stock at the right price well surely there will be people ready to look at that. I find it strange that one dealer that I spoke he showed no interest when asked a few curly ones around the deal and one without the deal. So no deal! The offer is from Toyota and not the dealers, I even asked if they had a document to say not to sell under a certain price with 1%, the line dropped.

[AussieAndy Find all posts View Profile Close AussieAndy]

Ummmmm......
1% is for the first two years only, don't know about you guys but I can't afford to pay off a new prado in two years.
I can also negotiate a better price on a 2014, so for me doing the numbers (5 year loan compared to 2 years at 1% with balloon and get a personal loan for balloon after 2 years) making the same repayments for the first two years as I would be for the five year loan I was actually better off buying the 2014.
After the five years I was about $600 better off getting a 2014 at the better buy price.
No suprise I have a 2014 GXL manual on order in silver.

[wanted Member Find all posts View Profile Close wanted]

Where did you get the 2 years term information from? This is from the website,"Maximum finance term of 48 months applies."

[antpower Junior Member Find all posts View Profile Close antpower]

Didn't know the 2 year clause, going to have to take a closer look today.

[DSS150 Find all posts View Profile Close DSS150]

So much mis-information.... its amazing...

Find a decent salesperson at a good dealership and talk to them about the terms

Its really not that difficult!

[prado2004 Advanced Member Find all posts View Profile Close prado2004]

Find an honest finance broker who will tell you if it is a better deal then the broker can offer. That way you get a professionals opinion not a salesman's opinion....

Had a client recently buying a brand new ranger for 50k. They told him they had a 5% interest rate, my rate was 5.75% but with the additional fees from the dealer my monthly repayments still worked out cheaper...

Dont ask for interest rates, compare repayments as it is the ONLY way to really compare apples with apples.

[bruggie Junior Member Find all posts View Profile Close bruggie]

I had an interesting experience today... The 1% Finance deal on a 2013 plated Prado GXL sounded really appealing, so I made some inquiries at a dealership I won't mention. Anyway, around $815/Month for a brand new Prado on a 4 year finance with around $31k guaranteed trade in. I then asked what purchase price this was based on, which was $68k. I asked him to re-calculate this with a more realistic price tag of $60k, but the answer was that I won't be getting it for less than $68k with this 1% deal. Shifty little buggers if you ask me. Admittedly, I had not entered serious price negotiations, but with such an inflated price one wonders about the "comparison" rate. So buyers beware! I doubt that a 2014 plated GXL at around $60k and going interest rate would be (much) more than that per Month.

[wanted Member Find all posts View Profile Close wanted]

What was the total amount financed for 815/m? I am getting more than @ 1500 for 68k with 1% over 4 years

Edit: Okay that was after the trade in price. Got it.