Auto Loans

[Objective]

They got me in on 2.99% then when I went to finance it was 5%, I got them down to 4.5%.  They said rates vary depending on vehicle.  True?

[StartingOver10]

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Objective wrote:

They got me in on 2.99% then when I went to finance it was 5%, I got them down to 4.5%.  They said rates vary depending on vehicle.  True?

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I have heard of them charging more for used vehicles and vehicles with higher milage - but not based on the model type.

I bought a Toyota Venza, used, in Jan 2011.  The F&I guy tried to charge me a high rate and come down tremendously during the negotiations. I believe that that is what they do to everyone - they try to get a higher rate because it nets them a large commission check. Is your deal done? Or can you get him to lower the rate? For me, I had to walk out to get a decent rate.

[pizzadude]

Rates vary based on lots of factors, including how much they think they can add on without losing a sale. So it's really up to you to negotiate it.

[mrcrush20]

rates do differ on model 

the trucks are not selling so well 

35K plus high gas milage TFS will incentivse the trucks with low rates 

vs cars that do really well camery corolla dont need as much help to move

you hear rates as low as 0 % guess what most cases that sort term on the smalles cars up to 36 months or standard term on the stucks and suvs up to 72 months

[bbb3601]

When we bought our corolla a few months ago this model was 1.9%. Camry, Rav, and Prius was 0.9. Nothing for Tacoma. Dealer also told me it can vary by region??? Needless to say the following month Corolla went to 0.9!!!!!  FWIW I love TFS!!

[Watchmann]

We are talking apples and pineapples here.  The rates offered by, say, Toyota Financial are subvented rates and will vary by model depending on how badly they want to move the iron to keep production in line with demand.  They subsidize a lower than market rate, you see this all the time.  But if you go into a bank or CU and ask for a loan on a new 2012 Toyota car it doesn't matter if it is a Corolla, Camry or an Avalon, you get the same rate.

[mrcrush20]

^^^^^

what he said 

and yes they do change by market area