What’s everyone’s car loan rate been lately?

Seeking Advice
1

Curious to see what kind of rates people are getting right now. Share your experiences.

2

I miss the days when we got 0% financing. Got that deal on our Prius in 2017. Feels like a lifetime ago.

3

4.7% with Navy Federal. Picking up my XSE tomorrow, pretty excited.

4

Just bought yesterday at 5.24%.

5

Raven said:
Just bought yesterday at 5.24%.

Same here, got the same rate.

6

I’ve got great credit, hardly any debt, and a decent income, but Toyota hit me with 7.57%. I was shocked.

7

Indra said:
I’ve got great credit, hardly any debt, and a decent income, but Toyota hit me with 7.57%. I was shocked.

Wait, did you actually take that rate?

8

Tim said:

Indra said:
I’ve got great credit, hardly any debt, and a decent income, but Toyota hit me with 7.57%. I was shocked.

Wait, did you actually take that rate?

Nope, ended up not going through with it.

9

4.99%—just bought on November 6th.

10

Some of these rates sound pretty low. Are they all from outside financing?

11

AlexJordan1 said:
Some of these rates sound pretty low. Are they all from outside financing?

Wondering the same thing. Toyota’s rates seem to be between 7.5% and 8.9% for 2025 Siennas, though I’ve noticed 2024s sometimes have slightly better offers.

12

@Roux
Mine was through the dealership but from an outside bank. It was actually cheaper than two credit unions I checked.

13

Raven said:
@Roux
Mine was through the dealership but from an outside bank. It was actually cheaper than two credit unions I checked.

Makes sense. My dealership said they’d try to beat any rate I find with nearby banks or credit unions, but Toyota’s rates rarely compete with them.

14

@Roux
Dealer made us use their finance options. We got 6.85%, I think. Not great.

15

4.34% with Toyota. I had 4.99% from Bank of America, and Toyota beat that offer.

16

Willie said:
4.34% with Toyota. I had 4.99% from Bank of America, and Toyota beat that offer.

Did you have to go through the process of applying with BofA first to get Toyota to lower their rate?

17

@Roux
Yeah, I compared rates beforehand because I expected Toyota to offer between 5–7%.

18

Almost perfect credit, no debt, never missed payments, $48,000 down… still got 6.98% from Toyota in September.

19

Micah said:
Almost perfect credit, no debt, never missed payments, $48,000 down… still got 6.98% from Toyota in September.

You put down $48k? That’s more than I put on my house!

20

Thanos said:

Micah said:
Almost perfect credit, no debt, never missed payments, $48,000 down… still got 6.98% from Toyota in September.

You put down $48k? That’s more than I put on my house!

I know myself. If I leave money sitting in my account, I’ll end up spending it. This way, I have manageable payments, and I’m less tempted to splurge.