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Interest Rates

Discussion in '3rd Gen Tundras (2022+)' started by jmay86, Jun 15, 2022.

  1. Jun 15, 2022 at 11:55 AM
    #1
    jmay86

    jmay86 [OP] New Member

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    Josh
    Columbus, Ohio
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    I know credit and memberships and such plays a big role, but I thought it would be nice to see what kind of rates people are seeing out there currently.

    For example, Toyota is offering qualified buyers 60 @ 2.75%, and 72 @3.75%.

    A local credit union has quoted me 60 @ 2.24%, and 72 @ 2.54%, with an additional .25% discount for opening a checking account with a $300 min balance.

    Long gone are the 0% offers it seems like we had on the wife's Corolla.
     
    TheBeast likes this.
  2. Jun 15, 2022 at 11:58 AM
    #2
    Tundra_Vita

    Tundra_Vita New Member

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    I got a 3.5% on my Certified Tundra through Toyota Financial. and that was "prime."
     
  3. Jun 15, 2022 at 12:02 PM
    #3
    mountainpete

    mountainpete Explore more

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    Alberta, Canada
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    Function before sparkle.
    Up here in Canada, the rate you are being quoted for 72 months is a heck of a deal, even for someone with fantastic credit.

    Canadian Prime is 3.7% still and getting -1% is considered rock star level for an auto loan.
     
    Outbound likes this.
  4. Jun 15, 2022 at 12:04 PM
    #4
    Taco-Spike

    Taco-Spike From Tacoma World. Fueled by bacon & bourbon

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    2.2% on my truck from my local CU in February.
     
  5. Jun 15, 2022 at 12:05 PM
    #5
    19TurdPro

    19TurdPro New Member

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    Those are pretty good rates your CU is offering. I'm unloading my Tundra soon and just got pre-approved at the CU I work for for 3.24% @ 84 months before my employee discount.
     
    jmay86 [OP] likes this.
  6. Jun 15, 2022 at 12:12 PM
    #6
    rpjones68

    rpjones68 New Member

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    I got 1.38 for a 60 month at the end of May from my local CU. Even the FI guy at the dealership got his loan there. They laughed when I said I'd finance with them if they'd match it.
     
    jmay86 [OP] likes this.
  7. Jun 15, 2022 at 12:49 PM
    #7
    Wahayes

    Wahayes Older I get the wiser I realize my dad is

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    325/60r20 falken at3w, 2.25 dobinsons ,20x9 +20 fuel torque wheels, leer xr100, bmc
    Will be interesting to see what happens to all those long term auto loans with the fed rate hikes
     
  8. Jun 15, 2022 at 1:14 PM
    #8
    rpjones68

    rpjones68 New Member

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    Yes agreed. I only borrowed a little and savings rates are going to be higher than that in the next 2 weeks.
     
  9. Jun 15, 2022 at 2:18 PM
    #9
    Kagisexton

    Kagisexton New Member

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    3% for 84 months back in March. I get a car allowance from work so I like to stretch out the payments as long as possible. I could have gotten 2.5 for 72 months though. Considering the recent increase in interest rates, I’d say you have a pretty good offer from your local CU.
     
    jmay86 [OP] likes this.
  10. Jun 15, 2022 at 3:44 PM
    #10
    fordguy1470

    fordguy1470 Member-ish

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    West Columbia, SC
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    Getting there
    2.5 for 72 on mine a couple of weeks ago. Through my wife’s employee CU
     
    jmay86 [OP] likes this.
  11. Jun 15, 2022 at 4:11 PM
    #11
    brucega7x

    brucega7x New Member

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    3.2%
    Credit Union
     
    jmay86 [OP] likes this.
  12. Jun 15, 2022 at 4:44 PM
    #12
    JohnnieBoy

    JohnnieBoy New Member

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    I missed Toyota's 2.49% by 2 days.... 60 months at 2.75% Oh well, I only financed $10k, so only talking a few coins difference.
     
    Njmike13 and jmay86 [OP] like this.
  13. Jun 17, 2022 at 5:55 AM
    #13
    RGSIII

    RGSIII New Member

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    0.9% 36 months Through a special with Toyota a couple of months back. I was about to pay cash and decided to finance.
     
  14. Jun 17, 2022 at 8:42 AM
    #14
    Zarex

    Zarex New Member

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    I wish I could get those kind of rates. really good credit and dealerships here are all 4.9% no matter the years for finance
     
  15. Jun 17, 2022 at 9:44 AM
    #15
    mass-hole

    mass-hole New Member

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    My credit union has always been super low and so ive always financed though them, but right now they are at 2.74% up to 65 months with all their member discounts and stuff.

    At one point I had financed my Legacy GT through them for like 0.9% and I wanna say my F150 was at 1.5%.
     
  16. Jun 20, 2022 at 12:14 PM
    #16
    king_fish

    king_fish I caught you a delicious Bass...

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    2.75 for 60 months...
     
  17. Jun 20, 2022 at 12:19 PM
    #17
    TheBeast

    TheBeast The Beach

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    car market should be interesting end of the year....between high % and recession(?)/lay offs (?)...I'm guessing those dealerships high markups not gonna be sustainable and the used market should drop. I'll be watching from the sideline.
     
  18. Jun 20, 2022 at 12:25 PM
    #18
    BrunoTheRescuePup

    BrunoTheRescuePup New Member

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    For historical reference, Toyota was 3.49% for 60 months in May of 2021. We got 2.49% through local CU.
     
  19. Jun 20, 2022 at 12:37 PM
    #19
    brucega7x

    brucega7x New Member

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    Anyone in the market should be buying now.

    Interest rates will begin going up now.
     
  20. Jun 20, 2022 at 2:17 PM
    #20
    mannyg84

    mannyg84 New Member

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    2.49 at my credit union last month. Now they are 3.0. It does seem they going up.
     
  21. Jun 20, 2022 at 2:22 PM
    #21
    iantung

    iantung So much mod, so little money

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    Credit union back in March 0.9% for 36 months. Had about $18K left at that time but I am paying however much I feel like every month (always over, not under) so I might get this paid clean in a year or so, pending other spending.
     
  22. Jun 20, 2022 at 2:44 PM
    #22
    Coal Dragger

    Coal Dragger New Member

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    I wanted a faster vehicle so I also bought a Chevy SS... because 4 door sedans with big V8’s are hilarious.
    Maybe.

    Or just wait till the bubble pops, and dealers and manufacturers have to start offering incentives to sell anything.

    I’ve seen 0.0% APR before in 2007 and the Federal Reserve was at a 4.25% rate so auto loans were well into the 8% range at that time. So manufacturers including Toyota offered special rates because the economy was slowing down.

    A lot of similar symptoms today in the economy. If you’re buying now and it’s not out of absolute necessity I think you’re paying too much. This vehicle price bubble is going to burst.
     
    Henry1jg, LukeS, alb1k and 6 others like this.
  23. Jun 20, 2022 at 3:02 PM
    #23
    Jernik

    Jernik New Member

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    My Tundra is the ONE time I've timed a purchase right. Bought it March 20, 2020, right as the 'Rona panic was starting to set in - I think lockdowns started a couple weeks later. I got 0% for 72, a few grand off MSRP, and actually a decent trade allowance for my Jeep. With the 4Runner paid off and Tundra at 0%, it's gonna be a while before I'm willing to even look at the car market.
     
    BrunoTheRescuePup likes this.
  24. Jun 20, 2022 at 3:06 PM
    #24
    DrZoidberg

    DrZoidberg New Member

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    I'm doing 1.79% on my Lightning. The TRD Pro if I got it would have 2.29%.
     
  25. Jun 20, 2022 at 3:51 PM
    #25
    1lowlife

    1lowlife Toxic prick and pavement princess..

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    I know times are different now but I bought my 2005 and 2014 with 0% interest with Toyota credit.
    I agree with others that when they start filling up on stock of unsold 2022 Tundras towards the end of the year, maybe they will do it again.

    Dodge Ram is offering 0% now.
    But who would want to buy a Dodge..:confused:

    Ram Brand Bonus Incentives, Offers and Truck & Van Deals (ramtrucks.com)
     
    Last edited: Jun 20, 2022
  26. Jun 20, 2022 at 4:15 PM
    #26
    Apica

    Apica New Member

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    2.5% through CU. Pre approved in May before interstate rate hike.
     
  27. Jun 20, 2022 at 4:31 PM
    #27
    Wixo

    Wixo The Best Member

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    Tint
    I never really worked on my credit so I was barely starting it when I got my last truck. Rate 3.5 or so. This time around I could only get 5.89%. Then I got a letter in the mail saying they’re gonna lower it to a whopping 5.7%…hey atleast my payment went down $2 instead of up, right?
     
  28. Jun 20, 2022 at 4:31 PM
    #28
    Coal Dragger

    Coal Dragger New Member

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    I wanted a faster vehicle so I also bought a Chevy SS... because 4 door sedans with big V8’s are hilarious.
    Solid info, plus many of us with paid off but otherwise serviceable vehicles would be well served to cautiously observe just how bad the economic conditions get before:

    1.) Parting with large sums of cash to pay for a depreciating asset like a vehicle, and forgoing potential investment bargains that could use that capital for instead.

    2.) Taking on debt in a weak economy to acquire a new vehicle if those economic conditions could or likely will affect our income or job security.
     
  29. Jun 20, 2022 at 4:32 PM
    #29
    Outbound

    Outbound SSEM #2.5, Token AmeriCanadian

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    I'm being quoted 4.99% on a '22 Tundra with $20K down....
     
    1lowlife likes this.
  30. Jun 20, 2022 at 5:51 PM
    #30
    Buildn

    Buildn 2022 Tundra Limited CM TRD

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    Question

    What if you put more down? With great credit. Like over 40% down.

    Would you get a better interest rate?
     

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