New truck interest rates?

Curious what kind of interest rates those of you who have bought new trucks have been getting lately? I know RBFCU is doing a 2.44 for 72 months. I can't find what Toyota is doing. Thought I may just do the pre-approve with RBFCU and be ready to go once my truck gets here.

Just didn't want to leave any money on the table if Toyota was offering anything lower.

Let me know if you care to share. Thanks..!

 

toyota deals and incentives
https://www.toyota.com/deals-incentives/apr/

 

Exactly.. they dont show anything. That's my point.

 

Monday (4/19/21) got 2.39/63mo through Yoda

 

Yes they do. Choose the vehicle you want info on, drill down and it will show you the rates based on credit scores, click on the purchase option to see the terms. For Tundras, excellent credit, it was like 4.7%

 

like this-
https://www.toyota.com/payment-estimator/?series=tundra&year=2021&zip=21052&trim=8242&tab=finance

 

4.7%?!?! I don’t pay that on my my old mortgage, let along my new one

 

Yeah I'm not going based on that. And I dont see a list of rates based on credit score.

 

use your mouse and click- in the credit score field, is showing excellent below but there are other rates based on credit score to choose from. It is not a table or PDF, is an interactive website that changes based on the criteria you input. It would appear 4.79 is lowest for Toyota Tundra right now, goes up in APR from there.

 

Always go with a credit union, especially now.. Interest rates are going up! If you have good credit, you'll have no trouble with your local CU.

 

Reality is your better off with a CU or local bank over Toyota credit in general.

Toyota credit standards are a bit more liberal in my experience - but if you've got equity or a 720 score with solid history - you can do better.

Toyota doesn't "subsidize" sales like the big 3...no 0% financing for 240 months here...lease deals are ok - but in the past US Bank was better (but also super tight at turn in).

Stick with a local bank for best rates - go with Toyota if dealer nudges you that way...they don't get any incentives to use TMCC, so they are probably telling you that's the best rate they can qualify you for if pushing them.

 

not great. they used to have a 0% apr on tundras but since covid nope.

 

I know people are going to scoff at such a long loan term but I financed my 2021 new for 3.05% through my local credit union, Toyota Financial wouldn't match it. It actually turned out for the better because at the time they were doing rebates still and because I didn't take Toyota's special finance terms I was still qualified to take the rebate.

 

1.49% for 48 at my local CU

 

I'm at 3.49 at 84 months

 

Navy federal credit union. Their best rates

New & Used Car Loan Rates
Loan Type Up to 36 mos. APR as low as 37-60 mos. APR as low as 61-72 mos. APR as low as 73-84 mos. APR as low as 85-96 mos. APR as low as
New Vehicle 1.79% 2.19% 2.29% 4.69% 5.59%
Late Model Used Vehicle 2.19% 2.29% 3.79% N/A N/A
Used Vehicle 3.79% 3.79% 4.19% N/A N/A

Rates as of Apr 21, 2021 ET.

Late Model Used Vehicles: 2020, 2021 and 2022 model years with 7,500-30,000 miles.
Used Vehicles: 2019 and older model years or any model year with over 30,000 miles. If the vehicle is 20 years or older based on the model year, the vehicle is considered classic or antique and subject to collateral loan rates.

 

In January of this year I got 3.01% for 60 months on a 2019 TRD Pro. I was happy with that.

I would like to pay the principal down ASAP.

 

2.38% through my credit union.

 

Toyota is usually anywhere from 2.5 to 3.9. I can tell you that the dealer sets your interest rate and payment amount, not the lender.

 

Absolutely! Never go in a dealer and tell them you want a certain payment. They’ll get you that payment no matter if it takes 72, 84 months and at a ridiculous interest rate. Its all a numbers game. They’ll never do you any favors even though they try to make you feel like they are.

 

Great Googly Moogly.
7 years for a car note?

 

I always get a 6 year or so car note - not because I've ever needed it but because one never knows.

In fact, I bought my truck last March. It's more than 1/2 paid off now, and will be paid off by the end of this year....but it never hurts.

 

In Nov. 2020, I got 3.99% for 72 months at my CU...with ok credit....I think that’s a good deal...

 

Saved money until could pay cash, then interest rate = 0%

 

Lol, like the other guy said, you never know. I usually pay my debt faster or I'll refinance in a year to shorter term. Actually I'm not a big fan past 60 months but with covid last year, nothing was sure.

 

If I recall, I did really well signing up for dealer financing (that’s another money maker for the dealer and helped my sale), and then refinanced with my credit union the first month. Talk to your CU first.

 

Always secure before going in. The unethical dealers will lie to you about what rate you were approved for. They pocket the difference in the rate they give you and the rate you were approved for. It’s one of their tried and true money makers.
If you go in with a rate secured they almost always will beat it.

 

+1. Dealer car salesmen are BS. Lie to you all day long. Make them spend half of their day so they are invested. Be ready to walk at any time. But get them invested. Know your price and do your research. Those guys only make money if they screw you. Now today, it’s harder for us I know. But, regardless, if they spend half of their shift with you and you might walk, they become more motivated. The manager has a role as well. In this market I would go private for sure, the Toyota jobs got easier. But the salesman makes 25-50 bucks even if it’s sold at a loss. I had one manager begging me to pay more, it was hilarious. But I made them invest half their day and I could walk away. I got my price.

 

agreed! I negotiate each part of my deal separately. First negotiate the new vehicle (I have always done my homework and know what I am going to pay, and am willing to walk if they do not give me what I want), then the trade if I have one, then in the finance office I give them a chance to meet the terms I already have established with another bank.

This time I went with the dealer as he beat the rate I got from my bank. On my wife MB GLS450 I also went with the dealer when he matched my online rate. For my f150 ford had 0% so I went with that. On my first tundra I went with my local CU as they were better by nearly 2%!

I also never buy on the first day and always go home and think about my deal. If the next morning it sounds good I call back, put $500 down on my credit card (POINTS BABY!) and then go sign the deal.

yes I have missed vehicles in the past but I also live within my means and never have buyers remorse. Well almost never: I have buyers remorse when I got my F150 but that is because I got a Ford F-150

 

I was preapproved through my bank (USAA) @ 2.49% for 72 months and when I told Toyota that they came down to 2.19%. But that was through M&T, not Toyota financial. Good credit score.