Finance Offers

Hi all,



First post, sorry I am a noob, please forgive me if the topic has already been discussed.



I know that they are currently offering an APR of 2.9% on the Sienna.. I've heard that they rarely offers special rates on Siennas.. Is this true? I currently own an 09' and I am thinking about getting an 11'.. I did a google search for past finance rates offered from toyota and really couldn't find a website with consilidated results.. Just a bunch of random hits..



Any help you can give me would be greatly appreciated.. I've never bought a new car, so this is a big purchase for me.



To Summarize:

What do you all think of the current 2.9% offer..

What's the best you've seen? on an 11'

In your opinion, at what time of year do they release the best rates?

What's the best time of year to purchase a new vehical? (Summer when the next year model comes out?)



Thanks for all of your help in advance!

Reply 1 : Finance Offers

in december they were offering 0.9 % I believe. This has gone away now. The deals seem to change a lot. We were not financing , but in december the rebates were 3300 off MSRP, January were 2200 off MSRP and currently are $1500 off . This doesnt mean much because you can do much better than that . I ended up getting about 4700 off MSRP. Use tools like cars.overstock.com and shop around.

Since is it all based on how well they move their vehicles it is hard to predict. I would just wait a bit if you are not happy with the 2.9.

Generally towards the end of the month you get better deals on cars, since dealers are trying to meet a quota. End of the year is a great time too.

Reply 2 : Finance Offers

I would say 2.9 is not too bad a rate. Around Washington's birthday is often a good time to buy. I wouldn't be focused on only the rate but the whole package. If you're trading in your 09, know what NADA says it's worth based on it's mileage, options and condition and focus on your "out the door" price difference and use finance rate as 1 more piece of that puzzle.



My CU is offering 3.6 which I got last month for purchase of an 08 Camry. But as an example, to finance $10K for 4 years would cost about this much:

2.9% $603

.9% $184



Net difference is $419



That small a difference can easily be made up in getting a good trade value and aggressive out the door pricing. I've seen Toyota getting some more bad press in the last few days on national news about the whole accelerator business and the same story talked about how much their sales were down. February is traditionally a big month for dealers and I've known many people to walk in on the last day of the month and walk out with a pretty sweet deal.



Good luck

Reply 3 : Finance Offers

We bought our 2011 Sienna last Saturday and got 2.9%.

Reply 4 : Finance Offers

as a financial adv. I suggest you to use some online calculators to play with the number to see the different. 2.9% and 3.9% may seems alot but 1% is closed to $10-$15 more /month.



Just remember when buying a car, always go with the total purchase price, not by monthly payment. Once you have the purchase price, you can figure out payment.



I don't believe the 0.9% in Dec applied to 2011 Sienna though. 2.9% is pretty low

Reply 5 : Finance Offers

We bought our Sienna in November and got 2.77% (5 years) through Bank of America. They're a PITA to deal with, but had far in away the best rate available (and my dealer dealt directly with them - though I didn't know that in the initial shopping phase and had to deal with Bank of America's lack of customer service).



If you are going this route, definitely do an actual application. I believe that at the time we applied the rate that was advertised on the BoA website was 2.89% (as it still is today). There was tons of fine print stating a variety of reasons that your rate may differ from their advertised rate, but even calling them couldn't reveal what exactly they meant by that. I finally just decided to go ahead and apply and was shocked to find that our rate was actually lower than the rate that they were advertising on their website.



Should I have had to do a "blind" credit inquiry just to see what my rate would be? Absolutely not, but I'm glad that I did. Also, despite that having the dealer go directly to BoA would have saved me some hassle, in hindsight I'm glad that I already knew what the bank's rate was so that I didn't have to wonder if the dealer was screwing me.



A couple important pieces of info:

- I don't have any other BoA accounts (CC's, checking, mortage etc.)

- I have excellent credit

Reply 6 : Finance Offers

My dealership got me 2.19% through Harris Bank. This was a 36 month loan and he called it a super equity loan. Not sure what the cutoff is on the upper end, but I was told I had to at least finance $5K which is what I did.



This was also a used vehicle, though not sure that it makes a difference.

Reply 7 : Finance Offers

2.9 is better that a sharp stick in the eye but the best way to finance any car is to shop for the best percent before you you get to the dealer

I got 2.0 from my credit union for my 2011 Sienna in Dec

good luck

Reply 8 : Finance Offers

The best I was able to find was 3.09% through BOA but once I got to the dealer, I got 2.9% for the sienna.



that .19% difference adds up in 5 yrs.

Reply 9 : Finance Offers

I recently bought a 2011 XLE and the Toyota Finance guy quoted me 3.25%. I went to BoA and they quoted me 2.9%, so I took that to Toyota and they came down to 2.5% for a 5 year note, no money down.