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Discussion Starter · #1 ·
Hey there! I'm buying my tundra in the next couple of weeks, and would like to pay for it outright. If I don't sell my Corvette in time though, I will have to finance the Tundra until I do. I don't want a car payment; I'll want to pay off the loan as soon as possible.

If I finance through Toyota (TMC?) will there be an early termination fee? and if so, how much does this typically run?

Thanks for the help!!:)
 

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Why would you want to pay it off so quick? I mean i know a payment every month no matter how big or small can be a pain but it doesn't help your credit. They say to make payments for atleast two years then pay it off.
 

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Why would you want to pay it off so quick? I mean i know a payment every month no matter how big or small can be a pain but it doesn't help your credit. They say to make payments for atleast two years then pay it off.
I hear ya:)

One word sums it up...interest...I hate paying it. I don't want to pay extra money to anyone longer than I have to. Because of HSBC not cancelling a credit card 4 years ago, and some funky recurring charging hitting it, my exemplary credit was shot to hell last year. My credit score of 758 went to 535 or thereabouts. I can't get the APR that I used to. HSBC won't work with me on it, so now I refuse to pay them.

Also, I'm getting a new horse this year, and want to focus those car payments on saving up for that new QH paint and a trailer.
 

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Why not go with your local bank or credit union? They are usually simple interest with no prepayment charges. I feel you on paying interest on anything. Paying cash if you can do it is the way to go.
 

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Try becoming a member of USAA insurance the company in unbelievable, I secured a lone for my vehicle at 5.9 % and if I pay it off early there is no fee. LOOK into USAA Insurance!!!!!!!!!!!!!!!!!
Casey G
 

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Discussion Starter · #7 ·
Try becoming a member of USAA insurance the company in unbelievable, I secured a lone for my vehicle at 5.9 % and if I pay it off early there is no fee. LOOK into USAA Insurance!!!!!!!!!!!!!!!!!
Casey G
Yeah, actually, I have USAA for Home and Auto insurance, as well as a credit card. I thought about getting a loan through them...didn't realize they had no prepayment penalty. Good to know! You reopened that option for me I just need to decide how I'm going to go about the whole deal...I don't think I'm going to be able to sell my corvette before my truck comes in.

SFTundra...how do dealers feel about taking 2 trade-ins? I don't think they'd be too keen on handing me a new truck and a check for the difference, but hey, I'm trying to figure out everything that is possible...:D
 

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Yeah, actually, I have USAA for Home and Auto insurance, as well as a credit card. I thought about getting a loan through them...didn't realize they had no prepayment penalty. Good to know! You reopened that option for me I just need to decide how I'm going to go about the whole deal...I don't think I'm going to be able to sell my corvette before my truck comes in.

SFTundra...how do dealers feel about taking 2 trade-ins? I don't think they'd be too keen on handing me a new truck and a check for the difference, but hey, I'm trying to figure out everything that is possible...:D
I have taken in two trades several times. Not a problem. Just getting them all there at the same time is a pain but what ever it takes

And with Toyota, there isnt a penalty after 90 days
 

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Discussion Starter · #9 ·
I have taken in two trades several times. Not a problem. Just getting them all there at the same time is a pain but what ever it takes

And with Toyota, there isnt a penalty after 90 days
That's cool that you've done 2-trades before. I'm still debating what exactly I want to do with my vehicles. I'm considering trading-in my corvette...have had no nibbles after 3 weeks on several websites and in the paper. I just want to be done with it. Dealer says to bring it in on Thursday and they'll have 15 appraisers on site through Saturday, so they'll be able to give a final offer on the Corvette. He says that they want to bulk up their used car stock, so they are interested in it. Would a Toyota dealer want an 05 vette sitting on their lot, or do you think they'd auction it?...maybe another dealer owned by the same owner would try to move it?...idunno. So I'll take it in Thursday and see what they'll give me for it. He said that if the value of the vette is higher, that they'll just hand me my new truck and a check...sweeeet. My Tacoma would probably sell more quickly private party, so I think I'll just hang onto it and sell it as I go.

I've set up financing through USAA, if I end up just trading in the Truck.

Oh, one more SFTundra...I have a lot of mods (performance and cosmetic) on the Vette...valued at about 5k. I know that I won't recover what I put into it, but should I just keep quiet about the modifications like the Callaway race shifter, intake, and tunnel plate? I've also redone the interior in a tasteful Carbon Fiber finish. It seems like dealers would prefer not to have those mods on a car since buyers would rather have something closer to stock. Your thoughts? Do those mods devalue it?
 

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that all depends on the dealer. stock is always better but those mods dont sound too far fetched.

by the way, the 15 appraisers are the first 15 regular sales man that show up that day. That is a bunch of bull. It did make me laugh very hard though so thanks for that. To answer your question. A toyota dealer is scared to death to have a high priced domestic sports car on their lot. If it was up to us, nothing on our lot would be anything but a Toyota and Honda. At least that is the way it is up here in NorCal. I cant speak for the rest of the country
 

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That's cool that you've done 2-trades before. I'm still debating what exactly I want to do with my vehicles. I'm considering trading-in my corvette...have had no nibbles after 3 weeks on several websites and in the paper. I just want to be done with it. Dealer says to bring it in on Thursday and they'll have 15 appraisers on site through Saturday, so they'll be able to give a final offer on the Corvette. He says that they want to bulk up their used car stock, so they are interested in it. Would a Toyota dealer want an 05 vette sitting on their lot, or do you think they'd auction it?...maybe another dealer owned by the same owner would try to move it?...idunno. So I'll take it in Thursday and see what they'll give me for it. He said that if the value of the vette is higher, that they'll just hand me my new truck and a check...sweeeet. My Tacoma would probably sell more quickly private party, so I think I'll just hang onto it and sell it as I go.

I've set up financing through USAA, if I end up just trading in the Truck.

Oh, one more SFTundra...I have a lot of mods (performance and cosmetic) on the Vette...valued at about 5k. I know that I won't recover what I put into it, but should I just keep quiet about the modifications like the Callaway race shifter, intake, and tunnel plate? I've also redone the interior in a tasteful Carbon Fiber finish. It seems like dealers would prefer not to have those mods on a car since buyers would rather have something closer to stock. Your thoughts? Do those mods devalue it?
Why in the world would you want to get rid of the 'Vette??

If there's a nearby Chevy dealer, they may call and get a "buy-bid" from them.
 

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Why in the world would you want to get rid of the 'Vette??

If there's a nearby Chevy dealer, they may call and get a "buy-bid" from them.
I don't WANT to get rid of my Vette, but it's not practical for me right now...even if I'm only a bachelor with no kids and a dog. It's my dream car, and I hate to part with it, but I need a big truck to pull horses and equipment, so I've got to do what I've got to do.

I took it to CarMax, a high-end used car dealer, a Chevy dealer, and a dealer in Spartanburg who specializes in Vettes. No offers, and the Vette guy said that sales are down a bit right now, and he already has more on his lot than he ought to.

SFTundraMan
that all depends on the dealer. stock is always better but those mods dont sound too far fetched.

by the way, the 15 appraisers are the first 15 regular sales man that show up that day. That is a bunch of bull. It did make me laugh very hard though so thanks for that. To answer your question. A toyota dealer is scared to death to have a high priced domestic sports car on their lot. If it was up to us, nothing on our lot would be anything but a Toyota and Honda. At least that is the way it is up here in NorCal. I cant speak for the rest of the country
Yeah, they're not too bad really...it has aftermarket wheels and some other small things, but nothing gaudy or flashy...it's all subtle and classy. In fact most Chevy dealers don't have a clue that there are any mods.
I thought the appraiser thing sounded weird. It didn't make any sense to me why they would have 15 appraisers on the lot for 3 days. Whatever, I'll take it to him on Thursday and see what they want to offer. He sounded excited about the car, but it seems like a stretch that they would want it. To your point...folks going to a Toyota dealership aren't looking for a Corvette, but as it turns out, I did some research and there is a Dick Dyer automotive group that owns the toyota dealer...they also have a rather nice used car lot and a Volvo/Mercedes lot just down the road...a la autocenter just owned by one guy, so they may just move it to another yard/lot.
I'll let you know what they offer...I'll decide how I'm going to work the deal based on how much they offer for the Vette (I know I'll take a good loss on it)

Thanks for all of your help BTW, it's great to have a dealer's POV on this...it's a bit stressful trying to sort it all out.
 

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Discussion Starter · #14 ·
I don't WANT to get rid of my Vette, but it's not practical for me right now...even if I'm only a bachelor with no kids and a dog. It's my dream car, and I hate to part with it, but I need a big truck to pull horses and equipment, so I've got to do what I've got to do.

I took it to CarMax, a high-end used car dealer, a Chevy dealer, and a dealer in Spartanburg who specializes in Vettes. No offers, and the Vette guy said that sales are down a bit right now, and he already has more on his lot than he ought to.



Yeah, they're not too bad really...it has aftermarket wheels and some other small things, but nothing gaudy or flashy...it's all subtle and classy. In fact most Chevy dealers don't have a clue that there are any mods.
I thought the appraiser thing sounded weird. It didn't make any sense to me why they would have 15 appraisers on the lot for 3 days. Whatever, I'll take it to him on Thursday and see what they want to offer. He sounded excited about the car, but it seems like a stretch that they would want it. To your point...folks going to a Toyota dealership aren't looking for a Corvette, but as it turns out, I did some research and there is a Dick Dyer automotive group that owns the toyota dealer...they also have a rather nice used car lot and a Volvo/Mercedes lot just down the road...a la autocenter just owned by one guy, so they may just move it to another yard/lot.
I'll let you know what they offer...I'll decide how I'm going to work the deal based on how much they offer for the Vette (I know I'll take a good loss on it)

Thanks for all of your help BTW, it's great to have a dealer's POV on this...it's a bit stressful trying to sort it all out.
Well they bid out the vette, and the best offer was 31k...turns out the mods were the killer. All the other dealers had said the same thing. No one out here wants to deal with a vette that has a race shifter, cold air intake, exhaust, carbon fiber interior trim, aetc, etc. Also, I didn't have any of the OE, which would have made it better. They didn't have a fleet of appraisers...just the used car manager and his man that knows vettes.
They came back the next day with an offer of 31,000 from a wholesaler.

I'm fed up with everything, and said I'd take it...even though it's 8 grand less than the trade-in value. My brother told me to drop my asking price on the internet to a crazy price like 34k, and sell it over the weekend. I changed the price to 36k, and got 2 calls within an hour. Guy flew down from chi-town yesterday, and we are going to the bank tomorrow morning to handle the money...at least I got some more money out of it...and I kept the warranty which is worth $2350 when I cancel it.

New truck comes on Thursday-ish, and I will trade in my Taco, and get another 2k off of our already negotiated price (negotiated in march when there was crap for incentives)

I reckon I'll take the new truck down to the farm on the weekend and see what kind of balls it has.
 
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