Any Toyota salesman in this board?

[mickey513]

Anyone know what is the lowest or APR average for a 2002 Toyota Celica or Toyota Rav4 is right now?

[David Draper]

Originally posted by mickey513
Anyone know what is the lowest or APR average for a 2002 Toyota Celica or Toyota Rav4 is right now?

Depends on credit. What's your score?

BTW, Toyota has not gotten into the same thing GM has with the extremely low/non-existant APRs....

[mickey513]

Here is the situation, my friend(a girl) was looking to buy either a Celica or Rav4, but she lean toward the RAV4.

So she is in her mid 20's single, makes 40k a year. So I went to the Toyota dealer with her because she never bought a new car and didn't want to get ripped off.

Here is the situation, she picked a top of the line RAV4, MSRP $26920. Plan on putting $10000 down, finance the rest.

So the stupid sales man tells us that since this is her first time buying a car, the bank would only finance her for 5years ONLY(*I was like here we go, the usual sale person B.S.*). And that how would $402 for 60months sound to her. I was like wait wait wait, $400 for 60 months is $24000 after the 5 years, they would of made $7000 in interested from her! I ask the sales person to tell us what was the interest rate on this was, he said it didn't matter. Was $400 a month comfortable for he. I told him to go in his finance dept, get me her credit score, her APR rate, and montly payment. I said tell me what is the APR rate for the RAV4 now, he doesn't tell me. We went on and on for this for 1 1/2 hours and the guy wouldn't get this for us. So I said "Kiss my ass then", and we both left. As we left, the sales person ran after us, he said, how about I drop the month payment to $350 a month you.

I looked him in the eye and said, don't waste my time. Get me her credit score, APR rate and monthly payment. The guy wouldn't do it, so I said DON"T WASTE MY TIME THEN. The poor bastard then gives me his PERSONAL CELL PHONE NUMBER and said trust me, I can work out a good deal for you. I was like **** YOU, kiss my ass and **** off you stupid lieing POS. Threw his phone # out the window of my car as we drove off in front of his face.

We went home, calculate what the sales person recommended at $402 for 60months. Guess what, that was a whopping 15% interest rate. Thats why all I can say is that car salesman can kiss my ass and fu@ck off.

I was skeptical the moment he said the bank only finance new buyers for 5 years(60months)....knew we had a **** for a sales person.

[oldster]

It is better to be preapproved by your bank or credit union before you even go to the dealer. Once you have negotiated the price of the vehicle you can find out through your lender what your payments will be for your desired loan period. If the dealer can beat it with his financing then he gets the business, if not you can normally close on the car with a call to your lender. Unless you are a terrible risk, financing can be negotiated just like the car. Don't know what the current market is on RAV4s but did you even negotiate on the price?

[Drew]

For a $25K car (SUV...whatever) and 60 months with "good" credit and $10K down she should be at $320 to $340 a month.

[mickey513]

So Drew, will financing through Toyota Motor Credit be only for 5 years since she is a first time buyer or was that a lie?

[oldster]

Originally posted by Drew
For a $25K car (SUV...whatever) and 60 months with "good" credit and $10K down she should be at $320 to $340 a month.

What would the APR be?

[Drew]

Well, that could be a lie. It all depends on her credit score. There is a 3 digit score they get. If she is 700+ she can finance for whatever term she wants. If she is 650-699, she may have some slight problems in dictating what she can and can't do. If she is below 650, the dealership pretty much calls the shots. I've never in my life heard that since she is a first time buyer she needs to pay over a longer term...that's horsesh!t. If anything, they would want her to finance over a shorter term...think about it...the longer you finance something, the more the creditor is risking capital. If they got their money sooner, they'd be happy. Sounds like you are getting taken for a ride and I'd go somewhere else if I were you. Try going to something like www.myfico.com and getting your own credit report...that way she will know what her credit score is and won't be relying on the dealership to tell her what she can and can't do.

Keep us updated on you/her progress.

[Drew]

Originally posted by oldster


What would the APR be?

Depends on her credit score...if she has good credit...anywhere from 6.5% to 7.9% for 60 months (without a manufacturer promotion like 3.9% or something). So-so credit will get you 8% to 9.9%. Crap credit will get you over 10%.