Auto Loans

[Monkeygirl531]

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?

[Monkeygirl531]

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.

[coreyb80]

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.

[bigpayback]

Hi

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

[germaine47]

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.

[Paperboy999]

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.

[dabrian]

You won't have any issues.