In Los Angele Toyota is offering 60 months at 4.9 APR for the 2019 Prius Prime. That's the "advertised" rate. I have good credit and normally qualify for the 0.9 APR . So does that mean if I use Toyota financing im stuck with the 4.9 advertised APR or can I get a better rate from Toyota. ( I know I can get a better APR from a outside lender, but prefer to stick with Toyota financing if I can get a better deal ). Anyone have any experience or input on this matter ? Thank you in advance.
@Mendel Leisk I have called couple of dealers. As you can expect they have ten different stories. Would like to know the facts before I walk in to the dealer. Thanks for the reply.
I don't know how the US works but in Canada, the advertised rate is the rate that everyone gets and is set by the manufacturer financial arm of Toyota. Dealers can give additional discounts but since that comes out of their pocket and not the financial arm of Toyota (and they don't get reimbursed by them), they will only be willing if they want to move that vehicle (or if you're a returning customer etc). If you can get a lower rate elsewhere, then go with that. Over 60 months, that's a big difference between 0.9% and 4.9%. Edit: I should say the rate is set by Toyota Financial, not the manufacturer if we want to be correct.
60 months at 4.9 APR for the 2019 Prius Prime does not seem to be much incentive. I would go with other lender if TFS dose not offer better rate. FYI, for 2018 PRIME TFS is offering 0.9% APR for 60mo.
How far are you willing to drive? North Hollywood Toyota says they have one 2018 Advanced in Classic Silver Keyes Toyota in Van Nuys says they have a 2018 Premium in Titanium Glow
@Tideland Prius . Thanks for the info. Spoke with Keys Toyota. They currently have zero incentives for the 2018. $500 off and 5.9 APR on the 2019. LA is a crazy market. Thanks again.
Wow, that's crazy. No incentives to move last year's model? Yeah even checking toyota.com shows no incentives for 2018 Primes and only 4.9%/60 months for 2019 Primes. The 2019 Prius has a better rate at 2.9%/60 months.
I really wasn't shopping around, but I haven't seen any 2018 advertised here in Southern California. I think the volume of 2018 Prius Primes must to be very low in our area. There eventually was a large quantity of 2017's, plus they were brand new, a good reason for discounts. Also, even my Schoolsfirst Credit Union has jacked interest rates way up to 2.99%, for excellent credit, 60 month financing. Used to be 1.84% when I bought my Prime. Wait and lose. Fairly soon, most EV incentives will disappear, I believe. Still no TV advertising whatsoever for Primes out here, at least not on the channels I watch!! Posted via the PriusChat mobile app. AChoiredTaste.com
Two local Kia dealers are advertising in giant banners the Soul EV. Also, I’ve seen bus ads on the Soul EV, Ioniq Electric Plus (PHEV) and Niro Hybrid (save gas, use less gas, use no gas in reverse order). Very little from Toyota. I saw one online banner ad. That’s it. No paper ads or banners at dealerships. Surprisingly, trucks are still out front and centre.
Open Road Pomo has 8 Primes (about 50/50 2018/2019), and one Prius (2018). New Car Inventory | OpenRoad Toyota Port Moody A while back one of the service writers mentioned he was driving one, their demo or something.
I'll would wait. Somewhere in later in the summer time that's when they have better deals. Posted via the PriusChat mobile app.
FYI So basically the answer to my question is that Toyota will not offer a rate better than what's advertised for the car model and year. This is the case for Los Angeles . Not sure if it's the same everywhere else. I went with my bank and got a very good rate and got a 2019 Prime Premium. Thanks for everyone's input and advice.
One factor is that interest rates are creeping up. I was just offered a 17 month CD at 3.5% interest from the Navy Credit Union. Last year the rate was 2.1%
