1. Welcome to Tundras.com!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tundra discussion topics
    • Transfer over your build thread from a different forum to this one
    • Communicate privately with other Tundra owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

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

    Joined:
    Nov 17, 2019
    Member:
    #38775
    Messages:
    20
    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

    Joined:
    Aug 4, 2019
    Member:
    #34174
    Messages:
    238
    Gender:
    Male
    First Name:
    Ken
    El Dorado Hills
    Vehicle:
    19, Tundra limited TRD off road
    Rebate v cash back is typical. Stick to your guns though, try to get both.
     
    50 Buck and Tundyfundy like this.
  3. Feb 13, 2020 at 5:31 PM
    #3
    truckguy84

    truckguy84 New Member

    Joined:
    Jan 8, 2020
    Member:
    #40899
    Messages:
    81
    Gender:
    Male
    Vehicle:
    2011 Black Tundra SR5 TRD
    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

    Joined:
    Sep 19, 2018
    Member:
    #19579
    Messages:
    1,805
    Gender:
    Male
    First Name:
    Danny
    Vehicle:
    2018 White Tundra TRD Sport
    It’s one or the other. Never have you been able to combine Toyota offers. Doubt you’ll win that battle.
     
    TheBeast, Tundyfundy and AZBoatHauler like this.
  5. Feb 13, 2020 at 5:45 PM
    #5
    The Californian

    The Californian Good Vibes Only

    Joined:
    Oct 16, 2019
    Member:
    #37446
    Messages:
    989
    Gender:
    Male
    First Name:
    Eric
    SoCal
    Vehicle:
    2020 Super White Tundra TRD Pro Crewmax
    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

    Joined:
    Feb 21, 2019
    Member:
    #26430
    Messages:
    3,021
    Gender:
    Male
    Outside of Weird, TX
    Vehicle:
    2017 MGM DC TSS 4.6L
    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:
    May 5, 2017
    Member:
    #7567
    Messages:
    2,595
    Gender:
    Male
    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, +3 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. 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 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 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, 50 Buck and 2 others like this.
  8. Feb 13, 2020 at 6:04 PM
    #8
    Tundyfundy

    Tundyfundy Petunia The Tundra, and her sidekick Colbie

    Joined:
    May 5, 2017
    Member:
    #7567
    Messages:
    2,595
    Gender:
    Male
    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, +3 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. 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 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 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!!
     
    50 Buck and AZBoatHauler like this.
  9. Feb 13, 2020 at 6:09 PM
    #9
    AZBoatHauler

    AZBoatHauler ASCM#3 Desert Dweller

    Joined:
    Aug 13, 2019
    Member:
    #34576
    Messages:
    1,975
    Gender:
    Male
    First Name:
    Adam
    Arizona
    Vehicle:
    2017 CM LTD TRD 4x4 MGM
    6112 and 5160 w/ CB +2, JL Audio with Kenwood HU, DD 10" Exhaust, RC light bar BD fogs, Platinum LED headlights, RCI skids, WKOR sliders otw
    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.
     
    Zero One Actual and Tundyfundy like this.
  10. Feb 13, 2020 at 6:12 PM
    #10
    Danman34

    Danman34 New Member

    Joined:
    Sep 19, 2018
    Member:
    #19579
    Messages:
    1,805
    Gender:
    Male
    First Name:
    Danny
    Vehicle:
    2018 White Tundra TRD Sport
    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 likes this.
  11. Feb 13, 2020 at 6:14 PM
    #11
    50 Buck

    50 Buck ASCM#1 Douchebag formerly known as AzureNightmare

    Joined:
    Sep 2, 2019
    Member:
    #35514
    Messages:
    10,127
    First Name:
    Adam
    Wyoming
    Vehicle:
    2019 Cavalry Blue SR5 Crewmax
    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.
     
    Bob_Wiley, TheBeast and Tundyfundy like this.
  12. Feb 13, 2020 at 6:18 PM
    #12
    PWMDMD

    PWMDMD New Member

    Joined:
    Nov 4, 2018
    Member:
    #21332
    Messages:
    532
    Worcester, MA
    Vehicle:
    2020 Tundra Platinum
    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

    Joined:
    Jan 2, 2018
    Member:
    #11922
    Messages:
    562
    Gender:
    Male
    Lost
    Vehicle:
    2018 Unicorn TRD
    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 ASCM#3 Desert Dweller

    Joined:
    Aug 13, 2019
    Member:
    #34576
    Messages:
    1,975
    Gender:
    Male
    First Name:
    Adam
    Arizona
    Vehicle:
    2017 CM LTD TRD 4x4 MGM
    6112 and 5160 w/ CB +2, JL Audio with Kenwood HU, DD 10" Exhaust, RC light bar BD fogs, Platinum LED headlights, RCI skids, WKOR sliders otw
    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

    Joined:
    Nov 17, 2019
    Member:
    #38775
    Messages:
    20
    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
     
    Bob_Wiley, TheBeast and 50 Buck like this.
  16. Feb 13, 2020 at 8:15 PM
    #16
    Theonlyway

    Theonlyway I am all that is man

    Joined:
    Aug 14, 2017
    Member:
    #9046
    Messages:
    377
    Gender:
    Male
    First Name:
    User
    Vehicle:
    2015 Tundra crewmax trd or
    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
    50 Buck

    50 Buck ASCM#1 Douchebag formerly known as AzureNightmare

    Joined:
    Sep 2, 2019
    Member:
    #35514
    Messages:
    10,127
    First Name:
    Adam
    Wyoming
    Vehicle:
    2019 Cavalry Blue SR5 Crewmax
    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

    Joined:
    Apr 4, 2019
    Member:
    #28632
    Messages:
    449
    Boston
    Vehicle:
    2019 Tundra CrewMax Platinum
    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.
     
    50 Buck likes this.
  19. Feb 13, 2020 at 8:32 PM
    #19
    TheBeast

    TheBeast The Beach

    Joined:
    Apr 27, 2016
    Member:
    #3246
    Messages:
    12,028
    Gender:
    Male
    SoCal
    Vehicle:
    2012
    stick to your guns but that new Tundra smell...hmmm how long can you resist..haha
     
    Tundyfundy, gspdawg [OP] and 50 Buck like this.
  20. Feb 13, 2020 at 10:52 PM
    #20
    Doylfish

    Doylfish New Member

    Joined:
    Feb 25, 2018
    Member:
    #13144
    Messages:
    176
    Gender:
    Male
    Vehicle:
    2016 Tundra 1794 Crewmax
    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

    Joined:
    Sep 14, 2019
    Member:
    #36090
    Messages:
    622
    Gender:
    Male
    Buckley WA
    Vehicle:
    2019 White Tundra Limited
    In work
    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...
     
    AZBoatHauler likes this.
  22. Feb 15, 2020 at 3:04 PM
    #22
    tdiantonio

    tdiantonio New Member

    Joined:
    Feb 8, 2020
    Member:
    #42348
    Messages:
    74
    Gender:
    Male
    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

    Joined:
    Nov 4, 2018
    Member:
    #21332
    Messages:
    532
    Worcester, MA
    Vehicle:
    2020 Tundra Platinum
    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 Third Year Member

    Joined:
    Oct 24, 2017
    Member:
    #10505
    Messages:
    1,157
    Gender:
    Male
    Northern Nevada
    yup. Always take the low interest rate. Even the piece of mind knowing that you have free money.
     

Products Discussed in

To Top