Does anyone know the current rates coming out of Toyota Finance. I'm trying to determine if I should go through Toyota Finance or my bank for a loan. Generally, which is lower?

Also, would I be better off getting pre-approved for a rate over the phone, with Toyota Finance, or to get approved at the stealership?

... help me break free from my Honda! :-p

 

You use to be able to get an idea from www.scion.com Have you tried there? A lot of times you can get a lower rate from your bank.

 

but if you go through the dealership they are usually working to haggle on the price alot more since they make more money off the loan than they do the actual car. so if you go with your bank you might pay less interest, but possibly more for the car.

 

unless your getting a new car, in which case the lower interest loan from the bank would pay off. If your buying a new Scion car then the dealer cant haggle on the price. Unless I guess they try to find loopholes in the extra fee's they might charge for w/e.

 

Poop... according to the Scion site, the Zone 1 APR is 8.0%. I can get about 5.64% through my place of employment. Thanks all for your help. I'm thinking I'm gonna go through my job+capital one.

If anything, I'll make the dealer try to finance me for cheaper and if they cant, at least I'll have my rate locked in. It may affect my credit but, I don't intend on making any more huge purchases for a long while.

 

Pre-pay on your loan. Always pay more than your minimum by maybe $100 or so and your gonna pay it off faster and save a ton on interest.

 

Most definitely. I'm actually going to put a couple of thousand on my credit card but, I'll be able to pay those off within the 45 days before that first note is due. After that first month of payment, it'll take another 2 months to kill my lowest debts and after that... at least double the car payment each month until I either pay it off or move out, whichever comes first.

2 jobs is killing me but the income is freakin' nice! :-p

My student loans are gonna own me for a while though

 

ya they are. btw this is a bit off topic. people say school is your best investment. the average college graduate makes around 2 million over the course of their entire life. If you take lets say $15,000/year and put it in a mutual fund at 12% every year for 4 years starting at age 20. (cost of an average state school) at the end of the 4 years you will have $60,000 invested. If you never put anything else in and leave it there until age 67, you can spend every single dime you ever earn and retire with around 7-8 million.