Ok so my FICO score is well over 750 and I am getting a dumb rate of 5.8% on my purchase????

Dont get me wrong... its an Ok rate...
BUT
shouldnt people with scores like this get rates closer to 3% when purchasing a car???

very annoyed now.

 

Not really... it depends on the financer. Don't go with Scion's financing... their rates are high. Try Capital One Auto Finance... If you're a costco member you can get 4.9%... if not, 5%... shop around.

 

ya i was a little po'd about toyotas credit i went to go by my xb and applied for finiancing through them, well my credit is perfect absoulutly perfect but since my bank only reports to one of the credit bereau and scion only looks at only 2 of the 3 major ones the other one that toyota doesnt look at being mine i dint get the best rate possible. i ended up going through a differnet bank and got a pretty good rate but i was still a little ticked

 

I have to COMPLAIN about your spelling

 

I got 4.74% With Excellent Credit.

 

i got 4.4 but is under as my moms because i havent built up credit yet. with it under my name it was gunna be 12.5%

 

hmmmmm.... i am kindda stuck though now, I cant go elsewhere cause I am picking the car up tomorrow! gRrrRRrrrRRRRrrr.... payment is at 300/month so I am not that worried.

whatever.... thats how Scion makes their money... not on the cars but on the rates they give people with excellent credit.. I could only imagine if I had fairr credit.... it would be like 15%! BAD! BAD! BAD SCION CREDIT...

 

There is no way you're going to get a 3% rate on a car. This isn't 2003.

 

I got 4.19% through E-Loan this June (with Sam's Club membership)

It is not so much about the monthy payment, money is money.... higher interest means you pay more!

 

Rates aren't what they were 6 months ago. The fed keeps hiking the rates which trickles back down to every type of credit we get eventually. When I bought my tC in Sept, Scion had a lower rate than all of the local banks. My bank beat their rate by a bit so I would go through them instead.

 

$hit still just ____ed me off... plus I ordered the mud guards and the front mask and the dealer is telling me that the factory doensnt put that on the car.... the front mask i could see... but the mud guards? how are those not put on the car..... anyone living in NY and is buyin a Scion... i'll tell you where not to go.

They sold the first one because it came in too early, I told them I needed it the first weekend in Nov. they get it the first weekendin oct and expect me to pick it up .... btw I told them my current lease is up in Nov.

Whatever... all i know is I better be happy with the car.

 

haha you guys are lucky...i had a credit score of 0..thats ZERO! i put $10k down on the car in cash. and well my rate % is like 3 times some of your rates!.

 

Pretty much all of the options are dealer or port installed. The only options that I am aware of that are factory are the side curtain airbags, color, and which tranny you get. Everything is installed at the port or at the dealer.

 

Actually my pops got 1% for 60 months on his liberty. And I konw several people who have gotten 0% on 48 months so its possible just all depends.

 

How long ago was this? There is also a big difference in domestic vs. import financing options. The domestic generally have rebates and such that can be used to lower the interest rate, while most of the imports do not.

 

I got 5.6% back in August.

However with the $400 college credit, it made it 4.5% when you looked at how much I saved.

That was worth financing with Scion....

 

P.S. The college grad rates are all the same for a given locale... if you put in different zip codes, you'll see the rates deviate a little from one region to another... not sure why.

 

Also think about the age. They would probably give lower interest rates to a 35yr old male who has had an established credit, rather than a 23 year old with great credit but for a shorter amount of time.

 

It's not age dependent... It's credit dependent. 1% and other low rates like that are more dominant for DOMESTIC cars - it's additional incentive to buy domestic.

 

That can't be. with a score of over 750 you should of gotten a lower rate then I did from TMCC. My score isn't far from yours (its a little lower) and I got a 5.4%. TMCC goes by teirs and with a credit score like that, you should of gotten a lower rate. Have you checked your score lately? Ask the finance person to give you the score they got on the credit report. Maybe it may have been 750, but it could of dropped for whatever reason...definately get that checked out.