locking in interest rate incentive in GST.

bmc4041 · #1 (**permalink**) 05-18-2007, 04:04 PM

I just placed an order for new tundra that may take up to 60 days. I might get lucky and get one that matches what I want on the allocation coming out next week and my dealer can grab it and get delivery in a couple weeks. Either way they have 2.9% for 60 months till June 5th here in the Gulf States distribution area. Few questions. Can I lock that rate in now even if delivery is in June or worst case July. If I do, can I get a the better rate of hopefully 0% if the incentive rate gets better in June. (Heard it is 0% for 60/m in California right now.) My fleet sales lady told me today I am stuck w/ whatever the rate is at time of delivery when I sign paperwork. May get better, may get worse but just have to cross you fingers as nothing we can do.
That just doesn't sound right to me. Anyone out there know the reality of the situation and how to go about getting it. Thanks for any help you might be able to offer.

steveaggie · #2 (**permalink**) 05-18-2007, 05:11 PM

I haven't tried it, but the word I've been hearing from the streets is that you can't lock in any rates. You have to take what you get when you sign the papers.

Let's hope that the 0%/60mo. will come to GST!

dareads · #3 (**permalink**) 05-18-2007, 09:54 PM

You can't lock rates in. You'll get whatever rate is available at the time when you take delivery of your truck. Everyone I have been talking to thinks the rates are going to get better before they get worse. But again, that's just speculation.

Rustywrenches · #4 (**permalink**) 05-19-2007, 12:50 AM

Care to elaborate on that Dareads? How do you get a better rate than 0%? Are you saying a 0% rate in addition to a rebate? What are the chances?

dareads · #5 (**permalink**) 05-19-2007, 01:39 AM

Very possible. There was a time about 3 years ago when they were running lease specials with pretty much 0% interest and a 3 year lease with a 2 year residual. As gas prices continue to climb, they are going to stay or get even more aggresive with the incentives to get people to buy the bigger vehicles. Of course this again is just all speculation. 0% for 60 months on any Toyota product is unheard of, but the fact that it's on a newly redesigned vehicle makes me think it won't be going away anytime soon.

Rustywrenches · #6 (**permalink**) 05-19-2007, 11:06 AM

I wonder if Dianne and SFTundraman would give us their comments on this subject. They seem to have a good grip on whats happening!

rfs830 · #7 (**permalink**) 05-19-2007, 12:55 PM

I have my order for my truck on hold untill my area (KY) can get more crewmax trucks in and waiting for 0% for 60 months. It will come if they want to keep the sales ups with gas prices going up.

Stuff · #8 (**permalink**) 05-19-2007, 05:15 PM

Well, as I think I understand it, you get whatever rate when you sign the loan paperwork. The paperwork can be signed as soon as you get the VIN number, which is when the truck is built. So to "lock" in the rate, you essentially buy the truck before it gets delivered... but you will get your payments earlier...

Rustywrenches · #9 (**permalink**) 05-19-2007, 05:55 PM

I was trying to get SFTundraman or Dianne to weigh in on what dareads said about an even better interest rate and or rebate starting in June.

bmc4041 · #10 (**permalink**) 05-25-2007, 11:47 AM

Anyone have a speculation on what the interest rates in GST will do next month. I have a feeling they will get better, or worst case, stay pretty much the same w/ the rising gas prices and Toyota wanting to push this new truck against ford and general motors. On the other side, how are sales doing. I hear of people having trouble finding tundras. Not sure if that is just people not being able to find one equipped as they want or a general strong demand that the factories are behind on. I See quite a few on the lots. I also here the 5.7's are in much stronger demand and scares me the incentives may get better for the 4.7 but may lose some on the 5.7 that I am getting. What does everyone else think?

GrounD~PoundeR · #11 (**permalink**) 05-25-2007, 12:04 PM

I dont know how far in advance if at all they'll find out what the rate will be if any. I would think the finance guys would get some type of heads up, but that could be the same day as it takes effect. If the Tundra is selling as fast as they're building them then I wouldn't expect to see a change. I'm hoping it drops since I'm also wanting to purchase a Crewmax 4x4.
I'm also waiting to see what kind of miles per gallon they're getting and not what a sticker says. Seems that all vehicles are over rated in that department.

bmc4041 · #12 (**permalink**) 05-25-2007, 12:41 PM

I know the dealers rarely if ever get a heads up before the day of the change. Just wanting to get a feel how quickly they are moving off the lot and if they are exceeding, meeting, or below projected sales goals. Just some opinions on what people think they will do and why. Realize I might have just as good a guess throwing a dart board.

SFTundraMan · #13 (**permalink**) 05-25-2007, 12:44 PM

You folks should know by now that I dont guess, estimate or pull rates out of my butt. The second that I see it in writing I will let you know.

Is it possible, of course but I dont see it happening. If 0% financing isnt enough to get you in to buy the truck, you probably dont really want the truck.

You cant lock in rates that are a special rate by Toyota. Some credit unions let you do that for a certain period of time but special aprs are only for a specified time period.

Once you get the vin or in some cases, figure out what the vin will be, you can sign paperwork and submit it to Toyota Financial to lock in that rate. Without signing and submitting, you cant lock squat