jkchang626

The APR varies by region. Los Angeles area Scion is currently at 3.25% APR for 60 months (720 plus FICO) with .25% APR reductions for equity/super equity (up to .50% total reduction). This is the lowest it's been in years. My last purchase of an xD in 08 gave the stellar rate of 5.85% for a 767 score.

The dealership's interest rates MUST be posted on their respective Scion website to be within regulations of Pure Pricing.

If you plan to purchase, I would recommend visiting your credit union with a print out of the rates. This way you can get a preapproval for the car and get the lowest rate they will offer. Sometimes they are able to beat it, but not in every case. It's good to go prepared so you can get everything taken care of in 1 trip.

axesd

Thank you for the replies everyone!

Occam

3.39x72. They had promotional rates on a 2010, but one sit in that camped pup was enough to scratch that idea.

FICO 790 with two of the agencies, 820 with the third. Nothing down. I was planning on just paying it off (had to get Toyota financing to get the $1000 military rebate) but if the inflation rate is anything above 1%, I'll probably do just as well putting that cash in a money market and paying the regular payments, and not take a bite out of my savings.

johnmk

So who really got jacked on their interest rate? I know it's off-topic to this thread, technically, which is about the lowest interest rate, but still, I'm more curious as to what a typical interest rate is. There's a built-in bias I would think keeping those with higher interest rates from posting so it's probably not realistic to expect a representative sample.

I'd also like to know if my dealership really tried to profit off me by selling me a 5.14% interest rate on my loan and pocketing the difference between that and the 4.14% interest rate Toyota Financial is in fact charging me.

Occam

I'd expect that more with used cars or customers who can't get financed through the manufacturer. You know, FICO score of 7, paying 10+% interest.

Druidiron

Johnmk, Im 99% sure, that is what happened. When the stealership sent the request to Toyota for thier rate margin kick back (not sure the exact term, I never worked in finance, but was around it enough to know this is how the finance guys make money), Toyota was like, no, you cant do that on Scion's, you goons. I looked it up, and the Scion pure pricing is for both the purchase price and the finance side, so this senario is very likley.

But, in the very slim chance that there was a mistake, maybe the finance guy had signed you up on the rate for 72 months instead of 60. Longer terms are always higher interest, unless, like I said before, there is a promotional rate. (which there isent)

I could be completely wrong, but again, 3+ years in the car buisness, 1 1/2+ for Toyota, I am very confident that I am right about them trying to make profit. Luckly Scion had your back!

johnmk

My loan is 72-months, btw. Curiously, they never offered me a choice in term length. Overall they did satisfy me though, in ways I don't think WellesleyScion would appreciate me mentioning. ;)

WellesleyScion

Well some dealerships dont really care much about Scion's Pure Pricing(usually are dealerships that dont emply Scion Managers and have no clue what they are doing when it comes to paperwork) Take for example that on the dealer rate lists, it clearly states "dealer participation not allowed" which means that dealers have to go by the Toyota Buy Rate.

Druidiron

Dang, 4.14% for 72 months? Thats not bad at all. Better than what my bank would have gave me at 72 months. They probably dident offer a diffrent term it to you because you had a payment range you were trying to stay in, im guessing?

@ Wellesley, yeah man, when I was shopping, had a dealer here in AR not only try the super high pressure method,(you know what Im talking about) but also as Im walking out, the sales manager tells me he would take $500 off the car. This is also the same dealer that told me the 3 tC's on thier lot where the only ones in the gulf states........

JetStream

I got 3.39 for 60 here, tier 1+ credit.

Druidiron

Mine is 3.75% for 60 with myself at the absolute bottom of tier 1, and my wife as the cobuyer with horrible credit. I was extremly happy when they offered us that rate.

NitOxYs

They sent me a letter saying that my APR is now 3.99

Tazz_DeVille

I am getting a 72 month and was told mine would be low 4% as well for my RS 7