Toyota Interest Rates Canada Reddit

What is everyone paying for an interest rate on their new Toyotas? through Toyota or a bank I am looking to finance my new Sienna 2024, so wondering what is the best those days? Thanks. Toyota is charging a whopping 5.99% (5.49 for returning customers, with the option to reduce it to 3.99 with a $5,500 security deposit). But with rates so low in the current environment, I just don't understand why theirs is so high.

I've looked around and a lot of other brands are charging only 1.99 (or less, with $0 security) for the same. The interest rate has nothing to do with the car's quality. It has to do with Toyota's borrowing numbers and market because they have to make money on the financing as well.

Canada. Toyota RAV4 Hybrid XLE 2022. Say I want to make a deposit to reserve an allocation spot.

Current financing rate is 4.79% on the Toyota.ca website. Can the dealer do a better rate? If I have to wait 6 months for the vehicle and the rate on the website drops or increases, what happens? I haven't bought a new car in almost 20 years so I have no idea how interest rates are handled. Toyota finance rates depend on the vehicle you are looking for.

For example, 3.99% 48months for Tacomas. I believe in the case of 4Runners is something like 8-9%. Consistently, Toyota has had the highest interest rates, which I just don't get.

If it was the difference between a quarter of a percentage point I'd understand, but sometimes the difference is literally 2-2.5%, which is massive. Obviously this varies depending on the terms, but what is consistent is Toyota is always the highest by quite a bit. Why are Toyota finance monthly rates so high? I was looking at a 4Runner and saw the monthly payment would be around $950.

That's way too high considering other options in the market. That also means Sequoia would be $1200 I guess. I could never justify Toyota with such high payments because, yes, they're reliable but that's about it.

Hi all, Got the call my vehicle is here and sooner than expected. I was planning on paying cash for the vehicle, but my money is tied up in a GIC for 2 more weeks. Toyota says they can't hold it for another 2 weeks.

Can I simply finance the vehicle for 2 weeks, then when my GIC matures and is free, pay it off right away? I've heard many instances of the interest rate being included in the. As I said just bought a new car. Is "bank fees" a thing? It popped out of nowhere on the final finance sheet and it was $800.

I asked what it. Toyota Financial Rate- 5.99% Its a time to shop a car to get rid of my old Toyota Gas vehicle which is killing me because of my usage and gas prices. I am looking to get Hybrid now.

I am surprised to see all finance/lease rates are as 5.99%. My old lease rate was 0.49%. are these new normal rate now -5.99%? Its just too much rate for car payment.