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How Desperate Is Toyota Motors?

58 comments

Desperate enough to extend credit to someone like me, apparently.

After being turned down by everyone from Ford Motor Credit to Benny the loan shark, my credit union came through with financing terms. I was waffling between a 2006 Toyota Tacoma SR5 4×4 with 91k miles (but in excellent condition with tons of extras), and a brand new 2010 Tacoma 4×4, which I could have had for 2% lower interest than I’d get with the used one, and 72 month financing, to boot.

In the end, having a new vehicle with a 100k mile factory warranty for only $100 more in monthly notes was just too good to pass up.

So I went to the dealership this morning to sign the buyer’s agreement, and they asked if I’d like to try getting approved through Toyota Motor Credit. “What the hell,” I figured. “One more hit to my credit record won’t be too bad, and this is the last time I’m going to be financing anything for a long time. They’ll probably turn me down, but I still have the credit union to fall back on.”

Well, not only did they approve me, but at an interest rate so much better than my credit union that I could finance the truck for 60 months for only $70 a month more in payments. That will save me roughly $7,000 over the term of the loan.

So thanks, Toyota Motor Credit!

Hopefully, I’ll have pics of Frankenhoopty II by the end of the week!

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Posted by on February 23, 2010 • Filed under: Uncategorized
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  • http://roguemedic.blogspot.com/ Rogue Medic

    It is usually the best time to buy something, when there is a misconception of danger, rather than when it is popular.

    Go pedal on the right.

    Stop pedal in the middle.

    Change pedal on the left.

    If you can mange that, you can probably drive a Toyota or an Audi without any problems.

    Well, maybe you couldn't. You would probably have a fit at the suggestion that you drive something made in America.

  • http://roguemedic.blogspot.com/ Rogue Medic

    Traffic Inj Prev. 2004 Jun;5(2):122-31.
    Methods to reduce traffic crashes involving deer: what works and what does not.

    Hedlund JH, Curtis PD, Curtis G, Williams AF.

    Highway Safety North, Ithaca, New York, USA. jhedlund@sprynet.com

    More than 1.5 million traffic crashes involving deer, producing at least $1.1 billion in vehicle damage and about 150 fatalities, are estimated to occur annually in the United States. Deer-related crashes are increasing as both deer populations and vehicular travel increase. Many methods have been used in attempts to reduce deer crashes, often with little scientific foundation and limited evaluation. This article summarizes the methods and reviews the evidence of their effectiveness and the situations in which each may be useful. The only widely accepted method with solid evidence of effectiveness is well-designed and maintained fencing, combined with underpasses or overpasses as appropriate. Herd reduction is controversial but can be effective. Deer whistles appear useless. Roadside reflectors appear to have little long-term effect, although additional well-designed evaluations are needed before firm conclusions can be drawn. Both temporary passive signs and active signs appear promising in specific situations, but considerable research is required to evaluate long-term driver response and to improve and test deer detection technology for active signs. Other methods using advanced technology require substantial additional research and evaluation.

    PMID: 15203947 [PubMed - indexed for MEDLINE]

    This study was done by the Insurance Institute for Highway Safety, which has specific agenda, but I don't think they involve deer. The link to the full text below is from a wildlife protection organization.

    Free PDF

  • http://roguemedic.blogspot.com/ Rogue Medic

    topv7051,

    You are more concerned about where the executive offices are, than where the plants are?

    If you are interested in American jobs, Toyota and other foreign-owned brands have been moving plants to the US, while American-owned brands have been moving plants out of the US.

    If you want to blame someone for the problems in Detroit, perhaps you should blame the failed business model that the US brands and the UAW have come up with.

    When i bought my last new car, I was interested in reliability. I have owned a lot of American brand name vehicles. I have spent a lot of time with these vehicles in repair shops. I bought a Hyundai. I have over 100,000 miles on it, and I am happy with the car. I cannot say the same about the Ford I owned before that, the Chrysler I owned before that, or any of the other American brand name vehicles, except for my old '66 Mustang. Of course, I could do all of the work on the Mustang.

    The only other reliable vehicle I have owned was a Mazda B2200 pickup. I looked for an American-made minipickup, but all of them, at the time, were made over seas. Mazda offered me a better deal for their pickup, than Ford did for their Mazda-made pickup.

  • http://roguemedic.blogspot.com/ Rogue Medic

    I don't make an exception for Ford. I've owned too many fords. I kept going back and buying more, because my '66 Mustang was such a good car. No other Ford has been reliable for me, and I have owned a couple of vans and three other cars.

  • http://roguemedic.blogspot.com/ Rogue Medic

    It is usually the best time to buy something, when there is a misconception of danger, rather than when it is popular.

    Go pedal on the right.

    Stop pedal in the middle.

    Change pedal on the left.

    If you can mange that, you can probably drive a Toyota or an Audi without any problems.

    Well, maybe you couldn't. You would probably have a fit at the suggestion that you drive something made in America.

  • perlhaqr

    The cool thing that you may not know about your credit score is that “clusters” of credit checks only count as one check, for the purposes of tallying your credit rating. So a whole bunch of people running your credit in one month only counts as one hit, basically.

  • perlhaqr

    The cool thing that you may not know about your credit score is that “clusters” of credit checks only count as one check, for the purposes of tallying your credit rating. So a whole bunch of people running your credit in one month only counts as one hit, basically.

  • perlhaqr

    The cool thing that you may not know about your credit score is that “clusters” of credit checks only count as one check, for the purposes of tallying your credit rating. So a whole bunch of people running your credit in one month only counts as one hit, basically.

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