Pinhook

Ssia

JTS97Z28

iTrader: (4)

Not sure I understand this post. If your asking what kind of rates are out there for used cars, right now you can get in the 1's or low 2's.

If your asking each individual person what they owe on their TL and what their rates are thats a little unusual I guess. A loan I had on a previous Type S (last year), I owed somewhere in the mid teens with a 1.49% rate.
Just bought my wife a new 2014 Highlander Limited Platinum. Rate is 2.01%. We both have excellent credit.

Vlad_Type_S

iTrader: (3)

A lot. Lol. I financed it with very little down in 2011 and have about 24 payments left. I got an interest rate of 5.24%. I was 22 when I purchased my 2008 TL.

Edit: Damn James, where do I get a rate like THAT!!??

JTS97Z28

iTrader: (4)

Everywhere as far as I know. I just thought those were the going rates now. The loan on my 08 Type S I had last year was through penfed.com which was just their standard rate for used cars. Its a little higher now at like 1.99% or something.
The wifes new SUV is 2.0, but it was a pricier vehicle so we financed it for a decent amount of time. That was through the dealerships Toyota Financial.

I know you only have two years left, but if you want refinance that thing with a much lower rate (if your able). You should be able to easily cut that rate in half or more.

justnspace

iTrader: (1)

in 2010, I bought my TL for 23 thousand and some change.

I put $5k down and financed the rest over a period of 5 years with 4.25% APR.
I took care of the loan in three!

it's been about 6 months since I paid her off and I plan to keep her for an additional 10 - 15 years. allowing me to save up for a home and an exotic car

JoshD_99EM1

I bought mine for 5900. I put 1000 down lol.
Financed 5k over 3 years at a rate of 2.3%

I owe 26xx.xx somewhere in there. I dont really pay attention. Car payments are in a separate account that get direct deposit and I never see it. Goes in an auto drafts on the 17th of every month.

NBP04TL4ME

Check in with your local credit unions. I have always found them more competitive. Here are the current rates with the one I have used in the past - https://www.sharoncu.com/rates/auto-loan-rates/

Agreed depending on credit score. See the link I posted above.

Brock79

4.25? Holy crap, my my home loan isn't even that high. With good credit any car used or new should not be over 2%. The two last cars I bought new both had 0% but you had to finance at least 7500 and make at least 4 payments to get that deal. That was on my 2013 Sho and the GFs. 2011 Maxima. If I had to take a loan on my TL it would have been 1.3%, that was through Honda.

RxWorld

That's the way to do it!

BlueAc

iTrader: (2)

Brought mine in 2010 for $26k and put $9500 down. I have $2,546.38 left with a 3.49%, should have that paid off in the next month or so.

nfnsquared

$0 and 0%

JoshD_99EM1

2500 in a month? Hell thats impressive!

Dwilliams92

Just bought an 04 TL sunday. The loan was just over 9k at 4.74%. I'm only 21 and this was my first auto loan.

anx1300c

iTrader: (2)

These threads are so amusing. They always end up with everyone ignorantly critiquing the terms of others'. Firstly, you can't compare rates assigned to a loan from several years ago to a loan written today, since today's rates are lower across the board. When I bought my car in January 2008, the best rate I could get from a local credit union was 4.9% for 72 months. My Experian FICO was 793 at that time. Now, the same rate, same institution would be 2.9% for a 2012-2014 used vehicle. The length of the loan also makes the rate vary wildly. The swing between a 12 month and 84 month term can easily be as high as 2%. And also, the age of the used vehicle drstically impacts the rate.

Secondly, rates vary wildly from bank to bank, credit union to credit union and manufacturer to manufacturer. Just because Honda is running a new vehicle special this month for .9%, doesn't mean you're going to get that rate on a Chevy next month. Also, the rates will swing from vehicle to vehicle from the same manufacturer. That's simply due to certain cars being more profitable than others.

And then there's an individual's credit worthiness, which is pretty much a no-brainer. And let's not forget region. Yes, even national lenders have rates that vary by state.

And for those who think 1.xx or even 2.xx is the one size "fits all" rate, it isn't.


http://www.bankrate.com/finance/auto/rate-roundup.aspx

https://www.bankofamerica.com/auto-l...-loan-rates.go

BlueAc

iTrader: (2)

I was saving for a new car but recently changed my mind. Now I can pay this off and be car note free for a while.


Congrats and that's pretty good for a first time loan. I had to get my Mom to cosign for my first loan to get a good rate.


Bingo!

thoiboi

Check out credit unions for the best rates on car loans versus big banks. I am a part of Alliant and School's First FCU and both are right at 1.99% for used cars. But echoing what everyone else says, YMMV due to credit worthiness.

screaminz28

iTrader: (1)

This thread makes me cry because I just looked and the rate I can get now is down to 1.24% vs. the 1.99% I have on my wife's truck.

I know everyone says the length of time financed and type of vehicle matters, but it's 1.24% on any term up to 60 months, and only goes to 1.74% at 72 months. They also have an 84 month term, but seriously?

They also have NO mileage limits, and I think they even finance older vehicles than most banks. I referred my buddy and he got his 06 F-350 @ 1.9% a few months back. He is self employed and had no verified income last year either. I know it's not a house, but it's amazing how decision systems and credit scores make decisions, lol.

Brock79

If you had that credit score and got anything over a 3.5 in the last 10 years you got screwed. It doesn't matter where you live or the vehicle.

stm25rs

I just bought an '07, and financed $7000 of the purchase. My bank, USAA, preapproved me for up to $10k, at 4.25% for anywhere from a 12 month to a 60 month term.

The dealer offered me 3.99% for 48 months, so I did that.

I am 26, with excellent credit - 824 out of 850 via equifax when the dealer ran my credit.

JTS97Z28

iTrader: (4)

Don't beat yourself up too much over it, you got a great rate no matter what. On $20,000 financed the difference between those two rates is like 7 bucks a month. No think you'll be fine :-)

revolutn

Secured 2.49 just through a local CU for 48mo's on $14.5k

I could have gotten as low as .074 if I'd been willing to do only 24 mo's and to have all the pre-requisites, like direct deposit into that account, another checking account tied to that account and a certain # of transactions per mo

I wasn't willing to do ALL the incentive items so 2.49 was the best I could swing.

I felt I should have been able to do better, but honeslty 2.49 isn't bad and it's the lowest rate I've ever secured for an Auto Loan.

My # moves with time and the multitude of various factors but my FICO has always been in the "excellent" range swinging from ~ 780-820 or so.

Rev

screaminz28

iTrader: (1)

LOL yeah it was more a tad of sarcasm. I'm shocked at some of the rates I'm seeing in current loans. 4% + is what I'd consider for subprime or 500 FICO.

Jackass

You must be clueless or lucky if you actually believe that.

Exact experience we had in 2008 when we bought my TL. I worked for a bank and the employee rate was still over 4%. Shopped around to all four of my banks and a couple of Credit Unions and the dealer is who ended up getting us the best rate.

Also to note, most of my banks don't care anymore about the age of the car. None of them even asked what I was buying. They ran my credit, told me the rate, then asked how much I wanted and when I was picking up the check. That was my experience in 2008 and 2001 when we bought our last two used cars. In 2005 I bought a new car (bank didn't know that) and I literally walked in, signed a paper, and left with a check for $16000 10 minutes later.

justnspace

iTrader: (1)

Clearly delusional.

iHeartmyHonda

Paid cash $5700+ used car tax=$6239 cash for mine.. bumper is pretty beat up tho and will need to respray came etest and saftied too. 135km

anionrings

iTrader: (2)

To be honest im reading some interesting numbers...

price of the car... the interest rate...

everyone's TL was in the 20k range new?..


i bought all my Previous TL even the one i have now with Cash....

my question is how much for insurance do you guys pay per year on your vehicles?..rather than the interest rate....interest rate goes by Credit..i financed my SC430 for 2.25% lol..

Brock79

I'll be the jackass that has bought well over 6 cars in the last 10 years, not at one point or on any car was an interest rate above 3.5 even mentioned. I'll be a jackass if it means saving money and staying with lower rates. Also two of the cars were purchased out of state, one in Ohio and the other in Missouri. The other 4 in NJ. I'm sorry that your own personal experiences haven't been better. You must be one of those guys that gets a better rate if you buy the extended warranty. It's people like you that the banks and car dealers love.

Brock79

Get a life and get out of your moms basement, you have a 100% activity level on here! which means you have a 0% activity level in the real world with real people.

I hate cars

2.9% $42k payoff. $701/month. It's been paid off for a looong time.

I hate cars

Don't talk about Justin like that. He has plenty time in the real world to spin out and hit trees....







Sorry Justin. It's Majofos fault.

kocyk123

I bought mine for 12K cash and I pay $250 insurance every 6 months.

6spd-GERCO

Interesting Thread...

I paid $13k in 2011 for my 04 TL. I had a stupid interest rate of 7.5% (first loan ever). I paid it off in exactly a year, actually waited until just over a year with a balance of $16 to avoid the $100 penalty for paying the loan off in less than a year.

nfnsquared

Hehe, until he gets that crank bolt off, he's safe from curbs and trees

SHOstopper1992

About $12,5k left at 4.6% Interest rate.

Healingduck

Actually just paid mine off. $15,000 after 4k down payment at 5% (First time financing at 18, excellent co-signer)

GOOSEej

iTrader: (2)

i feel like i got robbed!!

Im at $14k with a 4.5% rate 6 year loan. But im paying double to finish in 1yr 1/2

Cubsfan2154

owe like 11k at 3.74%, bought last September at 5 year loan

justnspace

iTrader: (1)

that's a moot point, as you're sitting on your ass and doing the same as me.
you're not too bright, are you?

plus, I'm not the one with the okcupid account.

Mr Majestic

Headed to my local credit union in a couple hrs to see what rate i qualify for. looking at a 2004TL with 60k miles, 1 owner at 9k.

bouncer07

^ That price, looks too good to be true. Walk away on Savage/Rebuilt titles. That $4K below KBB, sum ting wong!