[bugchucker]

Finally, I negotiated a deal for a new Tundra yesterday. It is incoming next month. The dealer asked how I was going to pay. I usually just write a check when I pick up the vehicle. However, that 3.9% 36 mo looks interesting when the bank is paying 5%. Anyone done this? I have never financed a vehicle. Any hidden charges?

 

[Justa Bum]

Finally, I negotiated a deal for a new Tundra yesterday. It is incoming next month. The dealer asked how I was going to pay. I usually just write a check when I pick up the vehicle. However, that 3.9% 36 mo looks interesting when the bank is paying 5%. Anyone done this? I have never financed a vehicle. Any hidden charges?

Yep, I did this a couple of weeks ago. No hidden charges (at least not from my dealer).

 

[TunTac]

Not sure what the restrictions are (if any) to qualify for the 3.9%, but if approved, there might be a significant down payment required to limit the total amount financed by TFS (Toyota Financial Services).

Also, find out if there are any pre-payment penalties, in case you want to pay the loan off early.

If no restrictions, I say go for it...that's "cheap" money.

 

[TundraWorld]

Not sure what the restrictions are (if any) to qualify for the 3.9%, but if approved, there might be a significant down payment required to limit the total amount financed by TFS (Toyota Financial Services).

Also, find out if there are any pre-payment penalties, in case you want to pay the loan off early.

If no restrictions, I say go for it...that's "cheap" money.

I asked about this yesterday at a local dealer. Right now, the 3.9% 36-month deal is for standard cab or double cab only (not for crewmax) and is for "Tier 1" credit people. I've heard varying definitions of "Tier 1" ranging from credit scores of 680 to 720.

I'm hoping to see the 3.9% offered on Crewmax this summer...perhaps even 0%. I plan to finance about half of the purchase price and do a 3-year finance deal to help minimize the interest I pay on a car loan.

 

[SFTundraMan]

in North Cali

There is 3.9% on all tundras including crew max. No prepayment penalty after 90 days

 

[TundraWorld]

in North Cali

There is 3.9% on all tundras including crew max. No prepayment penalty after 90 days

Awesome. Wish that were the case in Oklahoma. I guess it could be? Seems like I heard here that it was only for standard and double cabs. Can it be different in different regions? Oklahoma is under GST (Gulf States).

I won't be ready to buy until June or July, but it would be good if that's available here when I do buy.

 

[TunTac]

When I bought my Tundra in '05, I already had my financing set-up through my own bank. Toyota could not match the rate I had at the time. The "Tier 1" rate was almost a full point higher and at that time, "Tier 1" was considered a 740+ FICO. This numbers may vary.

 

[SFTundraMan]

Awesome. Wish that were the case in Oklahoma. I guess it could be? Seems like I heard here that it was only for standard and double cabs. Can it be different in different regions? Oklahoma is under GST (Gulf States).

I won't be ready to buy until June or July, but it would be good if that's available here when I do buy.

incentives vary between regions quite often.