Guys... you can't get "duped" on interest with Scion. The rates are pure priced and are tied to your credit score. If your score is under 620, you're getting a 12.75% APR. If we contract you at any rate other than that, TFS sends the contract back to us and we have the customer come in an re-sign at the correct rate. We can not mark up the rate.

As for refinancing and shopping around, you're more than welcome to do this. You are not required to use Toyota finance unless you are using the college grad rebate. If your score is under 620, you're likely to find 12.75% is extremely low. This isn't to bag on those with low credit scores, but that is the reality of how bad credit affects you for a very long time.

 

right cliffy1.

I have an excellent credit score and the interest rate is 4.5% on my xB loan. I made a few phone calls around prior to purchase, and that Toyota rate was right there in the mix.
That tells me that they're competitive... at least on the low end.

However, for people with low credit scores, Toyota may take a conservative approach to things and charge HIGHER than other lenders. That person should definately shop around. He has nothing to lose... he will either (A) find a lower rate loan, or (B) discover that Toyota is also competitive on the high end and they he didn't get "duped".

 

I live in Ellwood City, picked it up in Cranberry TWP, and my doc fee was the same.