Toyota: No interest for 5 years - Page 2

MILK · 03-13-2010, 08:15 PM

I drive a Toyota and they don't interest me. Bought it used from a relative knowing it was a good car. Resale won't hurt me either because when I'm done with it, it will probably be ready for the junkyard. I miss having a Honda though, that's for sure.

101lifts2 · 03-13-2010, 01:56 AM

Most OEMs are offering ultra low APR financing. However, if your credit is decent, you are better off finding a car with good rebates to lower the principle amount of the loan.

goof2 · 03-13-2010, 10:38 AM

Quote:

Originally Posted by Rangerscott

If you're gonna talk recall/bs then gtfo. Just wondering about the sale.

Is this a "great" thing?

It doesn't suck. Using a $20k loan over 5 years you would pay around an additional $5,500 over the life of the loan and have a payment over 20% higher if it was financed at 10% interest instead of 0%. Where it can hurt is when people don't negotiate as hard over the sale price of the vehicle. Treat the sale price and the financing as separate transactions and get the best deal you can for each one.

Cutty72 · 03-13-2010, 10:47 AM

It's good because maybe Ford will do the same thing so I can get 0% on my new pickup!

But yeah, like already said, if you are in the market, it's great, especially if you don't have to give up other rebates.
If you do have to give up other rebates, make sure you figure out which one will save you more money.

Also, if you get a 0% rate, don't pay it off early. Leave your money in an account gaining interest. Even if it is only 1% you are still getting something, and it's not costing you anything.

Particle Man · 03-13-2010, 02:22 PM

what's the price on the dollar for the loan? 0% is great but most times there's still a cost (the fine print usually says $X for every $1,000 financed).

Rangerscott · 03-14-2010, 12:24 AM

Quote:

Originally Posted by Particle Man

what's the price on the dollar for the loan? 0% is great but most times there's still a cost (the fine print usually says $X for every $1,000 financed).

I saw that. I'll try to remember when I see the commercial again.

CrazyKell · 03-14-2010, 12:53 PM

I've been lusting over a Tacoma for years. Hell I even convinced an ex to buy one.

But unfortunately I'm driving my current car until it can't drive anymore.

Trip · 03-15-2010, 10:29 AM

I wanted a Tacoma, but the dealership I went to said they aren't on the 5 years no interest deal.

fasternyou929 · 03-15-2010, 10:41 AM

Quote:

Originally Posted by Trip

I wanted a Tacoma, but the dealership I went to said they aren't on the 5 years no interest deal.

Pretty standard practice, usually the big trucks or coveted sports cars aren't part of the deal.

Just saw a 0% ad for Nissan yesterday, have a feeling the Titan will be excluded too.

Trip · 03-15-2010, 10:50 AM

Tacoma is the small truck. The Tundra, big truck, is part of the 5 year deal.

03-13-2010, 01:56 AM	#2
101lifts2 WSB Champion Join Date: Nov 2008 Location: Anaheim, CA Moto: 2009 Kawi ZX6R Posts: 5,570	Most OEMs are offering ultra low APR financing. However, if your credit is decent, you are better off finding a car with good rebates to lower the principle amount of the loan. __________________ Train Hard Ron Paul - 2012 Mark of Excellence GM

03-13-2010, 02:22 PM	#5
Particle Man Custom User Title Join Date: Nov 2008 Location: Central NY Moto: 2003 SV650S Posts: 14,959	what's the price on the dollar for the loan? 0% is great but most times there's still a cost (the fine print usually says $X for every $1,000 financed). __________________ I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away.

03-13-2010, 08:15 PM	#1
MILK The cows want you dead. Join Date: Nov 2008 Posts: 2,087	I drive a Toyota and they don't interest me. Bought it used from a relative knowing it was a good car. Resale won't hurt me either because when I'm done with it, it will probably be ready for the junkyard. I miss having a Honda though, that's for sure.

03-14-2010, 12:53 PM	#7
CrazyKell Vrooom Join Date: Nov 2008 Moto: 06 ZX6R Posts: 4,427	I've been lusting over a Tacoma for years. Hell I even convinced an ex to buy one. But unfortunately I'm driving my current car until it can't drive anymore.

03-15-2010, 10:29 AM	#8
Trip Hold mah beer! Join Date: Feb 2008 Location: 80 Miles South of Moto Heaven Moto: 08 R1200GS Posts: 23,268	I wanted a Tacoma, but the dealership I went to said they aren't on the 5 years no interest deal.

03-15-2010, 10:50 AM	#10
Trip Hold mah beer! Join Date: Feb 2008 Location: 80 Miles South of Moto Heaven Moto: 08 R1200GS Posts: 23,268	Tacoma is the small truck. The Tundra, big truck, is part of the 5 year deal.