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Cash Back/1.9% financing potential issue

Discussion in 'General Tundra Discussion' started by gspdawg, Feb 13, 2020.

  1. Feb 13, 2020 at 5:27 PM
    #1
    gspdawg

    gspdawg [OP] New Member

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    Sat down and agreed on a deal tonight on my first ever Toyota, but will sign papers (hopefully) tomorrow. At the end of the day, there was a debate about the cash back and financing.

    My region is offering $2500 cash back. Nowhere on the dealer website does it say "Either". Additionally, when you click on available offers from Toyota, I'm not seeing where it says "Either". The sales rep tried to tell me it was one or the other, but she couldn't prove it to me.

    Bottom line, I"m expecting both the cash back and financing deal. Our credit is impeccable, and will qualify us for 1.9%. I really don't want to walk, but I may. Am I being unreasonable? Thoughts?

    If all goes as planned, I'll post pics of the new rig asap and give some numbers to help folks out.
     
  2. Feb 13, 2020 at 5:31 PM
    #2
    plinyyounger

    plinyyounger New Member

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    Rebate v cash back is typical. Stick to your guns though, try to get both.
     
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  3. Feb 13, 2020 at 5:31 PM
    #3
    truckguy84

    truckguy84 New Member

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    so I think what you need to do is tell them to make the deal they need to drop the price $2500 before the 1.9 financing. You may need to walk away to get the deal. You have to play hardball sometimes to get a good deal.
     
  4. Feb 13, 2020 at 5:44 PM
    #4
    Danman34

    Danman34 New Member

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    It’s one or the other. Never have you been able to combine Toyota offers. Doubt you’ll win that battle.
     
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  5. Feb 13, 2020 at 5:45 PM
    #5
    The Californian

    The Californian Good Vibes Only

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    I'd stick to my guns, I think it's common for it to be one or the either - but if it doesn't explicitly state that, I'd hold my ground.
     
    Tundyfundy likes this.
  6. Feb 13, 2020 at 5:47 PM
    #6
    JohnLakeman

    JohnLakeman Burning Internet Daylight

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    TRD Pro grille, 2018 LED Headlights, Undercover Flex bed cover, Neoprene seat covers, Bed/tailgate mats, Power tailgate lock, auto headlights, illuminated key switch
    If it's cashback on a Special Edition package, you may be able to get both. But if it's just cashback on any Tundra, maybe not. In 2017, I got the Special Edition package cashback ($2500) with 0% financing, but they wouldn't give me the "buy any Tundra, get a rebate" ($2000) cash too. Hang tough...1.9% is better than a sharp stick in the eye, but it ain't 0%.
     
    TheBeast likes this.
  7. Feb 13, 2020 at 6:01 PM
    #7
    Tundyfundy

    Tundyfundy Petunia The Tundra, and her sidekick Colbie

    Joined:
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    Southern California
    Vehicle:
    Magnetic Grey DC SR5 4x4 2016
    SUSPENSION: Bilstein 6112 coilover (1.9") w/ Powder Coated Springs and Spring Perch (TRD Red), JBA Upper Control Arms, Bilstein 5160's w/Billet Aluminium Reservoir Brackets, +2 Coachbuilder Shackles, Diff Drop Kit, Carrier Bearing Drop Kit, Brakeline Extensions, ABS Extension, Poly Bushings for Leafs, Coachbuilder Shims (2 Each Side), Coachbuilder Bumpstop Extensions, TRD Rear Sway Bar, TRD Front Sway Bar, Air Lift 5000 airbags w jounce bumpers, Daystar Airbag Cradles WHEELS AND TIRES: BF Goodrich KO2's 275/70/r18, BORA wheel spacers 1.25", TRD Wheel Caps,TRD Valve Stem Caps, Spare Tire Lock PERFORMANCE: Bullydog GT Tuner(Performance Tune), TRD Intake, TRD Dual Exhaust (with Modified Exhaust Hangers for Levelling Tail Pipe),TRD Brake Pads, TRD Oil Cap (US), TRD Radiator Cap, TRD Oil Filter, Optima Yellow Top Battery,GP Battery Distribution Blocks, StopTech Slotted Cryo Treated Rotors, Goodridge G-Stop Steel Braided Brake Line Kit PROTECTION: PNP Engineering Type 4 Rock Sliders (With Full Dimple Plate) ,ADD Stealth Fighter Rear Bumper w Red/Blk Shackles and Custom Stomp Pad, TRD Skid Plate with ReadyLift Spacer Kit, Victory 4x4 LCA Skid Plates, JOMAX ABS Sensor Armor, Rear Diff Breather Mod, ARK splash guards INTERIOR: Husky Liners X-Act (Front and Full Coverage Rear and Front Weather Beater Trans Hump), Interior LED Bulbs, WheelSkins Genuine Leather Steering Wheel Cover(EuroPerf), Clazzio Genuine Leather Seat Covers(BLK/DRK GRYwith custom stitching and embroidered headrests), Clazzio Seat Heaters (Front and Rear), Entune Startup Screen MOD, Entune Off Screen Mod, Tinted Windows with Windshield Visor, AJT Key Fobs,Eagle Claws Floor Mat Clips, Bodyglove Visor Organizer,Custom Door Cup Inserts, Glass Break Sensor,AJT Radio Knobs, Custom Dior Cup Inserts EXTERIOR: Full Debadge, LED Brake Light Bulbs, LED Rear Turns, LED Reverse, LED Plate Lights, LED Cargo Lights, LED Third Brake Lights, LED Front Marker Lights, LED Fog Light Bulbs, Lamin-X Fog Light Covers (Amber),2018 OEM LED Headlights, iHacker harness, VLED Universal Puddle Lights, VLED Interior Footwell Lighting (Front and Rear),VLED Extreme Amber Fornt Turns, NSV Knight Rider Light bar, Baja Designs Sport Squadron Pods in Rear Bumper (Driving/wide), Painted Red Tow-hooks, Bed Rail System, Blind Spot Mirrors, Hitch-safe, Tail-gate lock, EAG Raptor Grille, Custom Grille Badge,Full Vinyl Wrap (Matte Black/Matte Pine Green Mettalic), Charvonia Designs Tie Bed Tie-Downs, Bull Ring Bed Rail Anchors, Line-X, Tundra Bed Mat, Bakflip F1 Bed Cover SOUND: Noico 80Mil Sound Deadening and Noico 170 Mil Thermal Insulation (All 4 Doors, Roof, Floors, Rear Panel, Dash). Hertz Uno K170's Component Speakers (Front Doors with Upgraded Sail Panels), Hertz Uno K170 Coaxial Speakers (Rear Doors), JBL C1-075ct Tweeters (Total 4) in Side Dash and Center Speaker, JBL Stadium 5 Amp w/Remote Bass Adjustment Knob and Amp Rack, 12" Infinity Reference Subwoofer in Custom Enclosure w/ “TUNDRA” Logo, Fast Rings Foam Speaker Rings System(4 Doors), Fix 86 DSP
    We took the cash back and the higher interest rate of 3.9 percent through the dealer and then drove to our credit union and they paid off the loan and gave us a 1.74 percent rate. You should be able to get prequalified before you ever walk into the dealer. This pretty much takes the "Either" "or" stipulation out of the equation.
     
    Black Wolf, Slayer, GODZILLA and 2 others like this.
  8. Feb 13, 2020 at 6:04 PM
    #8
    Tundyfundy

    Tundyfundy Petunia The Tundra, and her sidekick Colbie

    Joined:
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    Southern California
    Vehicle:
    Magnetic Grey DC SR5 4x4 2016
    SUSPENSION: Bilstein 6112 coilover (1.9") w/ Powder Coated Springs and Spring Perch (TRD Red), JBA Upper Control Arms, Bilstein 5160's w/Billet Aluminium Reservoir Brackets, +2 Coachbuilder Shackles, Diff Drop Kit, Carrier Bearing Drop Kit, Brakeline Extensions, ABS Extension, Poly Bushings for Leafs, Coachbuilder Shims (2 Each Side), Coachbuilder Bumpstop Extensions, TRD Rear Sway Bar, TRD Front Sway Bar, Air Lift 5000 airbags w jounce bumpers, Daystar Airbag Cradles WHEELS AND TIRES: BF Goodrich KO2's 275/70/r18, BORA wheel spacers 1.25", TRD Wheel Caps,TRD Valve Stem Caps, Spare Tire Lock PERFORMANCE: Bullydog GT Tuner(Performance Tune), TRD Intake, TRD Dual Exhaust (with Modified Exhaust Hangers for Levelling Tail Pipe),TRD Brake Pads, TRD Oil Cap (US), TRD Radiator Cap, TRD Oil Filter, Optima Yellow Top Battery,GP Battery Distribution Blocks, StopTech Slotted Cryo Treated Rotors, Goodridge G-Stop Steel Braided Brake Line Kit PROTECTION: PNP Engineering Type 4 Rock Sliders (With Full Dimple Plate) ,ADD Stealth Fighter Rear Bumper w Red/Blk Shackles and Custom Stomp Pad, TRD Skid Plate with ReadyLift Spacer Kit, Victory 4x4 LCA Skid Plates, JOMAX ABS Sensor Armor, Rear Diff Breather Mod, ARK splash guards INTERIOR: Husky Liners X-Act (Front and Full Coverage Rear and Front Weather Beater Trans Hump), Interior LED Bulbs, WheelSkins Genuine Leather Steering Wheel Cover(EuroPerf), Clazzio Genuine Leather Seat Covers(BLK/DRK GRYwith custom stitching and embroidered headrests), Clazzio Seat Heaters (Front and Rear), Entune Startup Screen MOD, Entune Off Screen Mod, Tinted Windows with Windshield Visor, AJT Key Fobs,Eagle Claws Floor Mat Clips, Bodyglove Visor Organizer,Custom Door Cup Inserts, Glass Break Sensor,AJT Radio Knobs, Custom Dior Cup Inserts EXTERIOR: Full Debadge, LED Brake Light Bulbs, LED Rear Turns, LED Reverse, LED Plate Lights, LED Cargo Lights, LED Third Brake Lights, LED Front Marker Lights, LED Fog Light Bulbs, Lamin-X Fog Light Covers (Amber),2018 OEM LED Headlights, iHacker harness, VLED Universal Puddle Lights, VLED Interior Footwell Lighting (Front and Rear),VLED Extreme Amber Fornt Turns, NSV Knight Rider Light bar, Baja Designs Sport Squadron Pods in Rear Bumper (Driving/wide), Painted Red Tow-hooks, Bed Rail System, Blind Spot Mirrors, Hitch-safe, Tail-gate lock, EAG Raptor Grille, Custom Grille Badge,Full Vinyl Wrap (Matte Black/Matte Pine Green Mettalic), Charvonia Designs Tie Bed Tie-Downs, Bull Ring Bed Rail Anchors, Line-X, Tundra Bed Mat, Bakflip F1 Bed Cover SOUND: Noico 80Mil Sound Deadening and Noico 170 Mil Thermal Insulation (All 4 Doors, Roof, Floors, Rear Panel, Dash). Hertz Uno K170's Component Speakers (Front Doors with Upgraded Sail Panels), Hertz Uno K170 Coaxial Speakers (Rear Doors), JBL C1-075ct Tweeters (Total 4) in Side Dash and Center Speaker, JBL Stadium 5 Amp w/Remote Bass Adjustment Knob and Amp Rack, 12" Infinity Reference Subwoofer in Custom Enclosure w/ “TUNDRA” Logo, Fast Rings Foam Speaker Rings System(4 Doors), Fix 86 DSP
    Basically get your loan elsewhere and take the cash back. You'll have to sign on the dotted line at whatever rate they give you then take the papers to whoever has preapproved you at the lower rate. Our credit union had a portal on their site where we could apply and get pre approved. Good Luck!!
     
    GODZILLA and AZBoatHauler like this.
  9. Feb 13, 2020 at 6:09 PM
    #9
    AZBoatHauler

    AZBoatHauler SSEM#140/ASCM#3/2ndGenNaysayer/BAF140

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    This is what I do with USAA. I’ve bought 4 cars this way and never spent more than 5 minutes with the finance guy at the dealership.
     
  10. Feb 13, 2020 at 6:12 PM
    #10
    Danman34

    Danman34 New Member

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    Same thing I did. Took all the rebates in lieu of financing. Got the dealership to my target out the door note even with the higher rate. Waited till the loan was processed then went through my credit union at 1.9 and dropped the note another $55/month.
     
    Tundyfundy[QUOTED] likes this.
  11. Feb 13, 2020 at 6:14 PM
    #11
    GODZILLA

    GODZILLA Hail to the King, Baby.

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    Honestly, hit up your bank or credit union to see if they can match or beat the financing. Even if they can't do the 1.9 you might be happy with the CU financing rate with the added $2500 rebate from toyota. A happy compromise?

    Personally, if you don't NEED the vehicle, there is no harm in sticking to your guns and walking if they won't budge. Give them your number when you leave and tell them to call you when they want to sell the truck. If you don't hear back after a week, you can reconsider. The deal isn't going to evaporate.
     
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  12. Feb 13, 2020 at 6:18 PM
    #12
    PWMDMD

    PWMDMD New Member

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    USAA can almost never match most manufacture's rates...the best they offer right now is 2.59%. My last three purchases have been 0.9%, 0% and 1.9% - all manufacturer financing. I too have never spent more than 5 mins in the finance office even taking the dealership financing. For Honda, Lexus and Toyota I filled out a form and with absolutely no verification of income or even employment and with nothing other than my credit score I was approve in less than 2 mins. This is or is almost free money.
     
  13. Feb 13, 2020 at 7:18 PM
    #13
    8MINT8

    8MINT8 #NotBetty

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    Ask to see the spreadsheet of credit score vs term/apr breakdown. The finance lady showed me because I kept asking for 0% and best toyota financing could do was 0.9% on tundras.

    I saw a commercial with 0% for tundras a few months back but it may be seasonal. You can also take your deal and see if another toyota dealer can do better.
     
    gspdawg[OP] likes this.
  14. Feb 13, 2020 at 7:32 PM
    #14
    AZBoatHauler

    AZBoatHauler SSEM#140/ASCM#3/2ndGenNaysayer/BAF140

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    Unless you’re financing almost the whole purchase for 60 months or more it makes sense to take the rebate. 1% difference on the interest rate for a $20k note isn’t much compared to leaving a $3,500 cash incentive on the table.
     
  15. Feb 13, 2020 at 8:11 PM
    #15
    gspdawg

    gspdawg [OP] New Member

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    Thanks for all the feedback!!! I am heading to a local credit union tomorrow. We are usaa members, and the rate isn't that great. Also checked a few other sites. I'll try to stick to my guns, but man that new truck smell was pretty intoxicating. LOL
     
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  16. Feb 13, 2020 at 8:15 PM
    #16
    Theonlyway

    Theonlyway New Member

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    2500 cash back is a joke. I was recently quoted almost 5k off the trd pro
     
  17. Feb 13, 2020 at 8:16 PM
    #17
    GODZILLA

    GODZILLA Hail to the King, Baby.

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    Even if you know you'll take the deal, you can still walk away. Lots of salesmen wait for the walk away moment to see if the buyer is serious. You walk away, and if they don't chase you, or call in a few hours and you are willing to settle for their terms, you can go back and get the same thing you were eyeing.
     
  18. Feb 13, 2020 at 8:23 PM
    #18
    Joe333x

    Joe333x Member

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    Take the cash back and show the 1.9 deal to a local credit union and see if they will match it. I did that and it worked out for me, it's a win win since you get the cash plus 1.9 and get to deal with a local credit union instead of Toyota Financial.
     
    GODZILLA likes this.
  19. Feb 13, 2020 at 8:32 PM
    #19
    TheBeast

    TheBeast The Beach

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    stick to your guns but that new Tundra smell...hmmm how long can you resist..haha
     
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  20. Feb 13, 2020 at 10:52 PM
    #20
    Doylfish

    Doylfish New Member

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    What is all this ‘showing rates to credit union’ ie outside of dealership ... when I bought my tundra it was like every other deal .. cash back or better financing rate through Toyota .. either or .. except my dealer used plenty of local banks and credit unions as well and financed me through a credit union that I had had another car loan through previously. This was for the same rate as what Toyota was offering as their promo at the time of 0.9% ... so I got the cash back, and the better rate, all in house no extra swapping out loans after the fact
     
  21. Feb 14, 2020 at 12:26 AM
    #21
    Tchase

    Tchase MostlyLurk

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    I have not read the other comments but I will tell you how it went for me.

    Wife and my credit scores are both over 840 we had zero problems qualifying for 0 APR when we were purchasing in October of 2019 for a new 2019.

    The offers were I think it was $3500 cash back or zero % financing thru Toyota. One or the other and I remember reading it somewhere, you can bet it’s in writing somewhere some how it may not say either but way at the bottom in small print with an * somewhere it will say something along the lines of valid with one discount/ offer blah blah.

    So I knew I was not getting both...

    Now here is the kicker and I suck at math, the finance lady at the dealership said you know I’m not sure but I think you would save money taking the cash back with 3% loan from the credit union. I told her no way zero is zero...

    She came back laid it all out and was right we saved $1,200.00ish by taking the cash back and adding it to the down payment.

    Anyways my advice do the math, but I can’t see you getting both...
     
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  22. Feb 15, 2020 at 3:04 PM
    #22
    tdiantonio

    tdiantonio New Member

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    I just bought my 2020 today...I could not combine the cashback with the TFS special rate. I ended up taking the 2k cash back and financing through b of a for 2.99 for 60 months.
     
  23. Feb 17, 2020 at 9:32 AM
    #23
    PWMDMD

    PWMDMD New Member

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    Toyota was giving $2000 cash incentive when I bought or low financing at 1.9%. For 60 months and a modest downpayment at 0% and 0.9% it's cheaper to take the low financing and at 1.9% over 60 months you break even. Yes, it make more sense to take a $3500 cash incentive but I have not seen that in my area. Also, USAA is also only giving 2.59% with a reduction of 0.25% for autopay and 0.50% off for car buying program. Most people don't use the car buying program the best they can do is 3.09%.

    https://www.dinkytown.net/java/auto-rebate-vs-low-interest-financing-calculator.html
     
    Last edited: Feb 17, 2020
  24. Feb 17, 2020 at 9:47 AM
    #24
    TundraLaw

    TundraLaw Fourth Year Member

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    yup. Always take the low interest rate. Even the piece of mind knowing that you have free money.
     

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