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Toyota 0% financing, what kind of credit needed?

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Established Member

Toyota 0% financing, what kind of credit needed?

Hello, im looking to purchase either a new Rav 4 or new Camry soon, since my current work vehicle is starting to get real old, and my 2nd car is for leisure only. I would like to get a 0% financing deal. My current score for eq here on myfico is 713, my utilization is 30%. I make 90k per year. I do have a Mercedes Benz loan paid off just recently in May. can anyone give me an insight on my creditworthiness for 0% with Toyota?
Message 1 of 7
6 REPLIES
Established Member

Re: Toyota 0% financing, what kind of credit needed?

Also forgot to add, current minimum debt payment for cc is 500 month, house is $1500. I make 7400 per month before taxes. No late payments ever. Im also gonna guess my auto enhanced fico is higher than 713 since I have a clean history on car loan payments and recently paid off. Does Toyota use auto enhanced ficos.
Message 2 of 7
Regular Contributor

Re: Toyota 0% financing, what kind of credit needed?

From what I've seen posted on here from here posters you shouldn't have any issues at all.  If I recall correctly Toyota usually wants 650 or better.  Don't quote me on that number.  Blessings on the future purchase.

Message 3 of 7
Established Member

Re: Toyota 0% financing, what kind of credit needed?

Hi

 

My local Toyota dealer advised me, he could get me approved for a toyota lease with 620 credit score.





Starting Score: 524
Current Score: 542
Goal Score: 700


Take the FICO Fitness Challenge
Message 4 of 7
Frequent Contributor

Re: Toyota 0% financing, what kind of credit needed?

Was approved for Toyota Camry for 1.9% for 63 months with Equafax at 652.  Would have gotten 0% for 48 months they also pulled Transunion which pushed me to Tier 1 Fico was I think around 700.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Message 5 of 7
New Contributor

Re: Toyota 0% financing, what kind of credit needed?

I Dont think they have high qualifications. I was approved for 2.9% on a used car with a 650ish fako 18 months ago. I don't think you'll have any problem getting their best rate.
11/09 EX 564
10/12 EX 673 TU 674
1/13 TU 686
2/13 EX 701
Goal 750+
Message 6 of 7
Frequent Contributor

Re: Toyota 0% financing, what kind of credit needed?

You won't have any issues.

NFCU Sig Cash-20k/ Amex BCP-19.4k/ Amex Costco-1.2k/Chase Marriott-12k/CSP-13.4k/ Freedom-5.5k/ Discover IT-14k/NCSECU-5k/Walmart-10k/Lowes-25k
Message 7 of 7