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Toyota Offering 2.9% Finance on Selected Yaris, Corolla, Camry, RAV4 Models

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Toyota Offering 2.9% Finance on Selected Yaris, Corolla, Camry, RAV4 Models
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AssociatedLPinzVidz on 03/05/2012 - 13:42 toyota.com.au (677 clicks)
Last edited 13/05/2012 - 11:09

First post! Toyota are once again doing some sharp finance rates, this time 2.9% Comparison Rate, on the following vehicles;

Yaris YR 3 and 5 door hatch
Yaris YRS sedan
Corolla Ascent hatch and sedan
Corolla Ascent Sport hatch and sedan
RAV4 CV 2WD and AWD

UPDATE: Now includes 2011 plate Camry Altise, and Atara S, SX and SL (ASV50R/new generation/new shape only).

Manual or auto for all above-listed variants. Terms and conditions apply. See the link for more information or visit your local Toyota dealer.

Ends 30th June 2012.

Disclaimer: I don't work for Toyota Motor Corporation Australia, but I do work for a Toyota dealership.

Automotive Car Loan Loan Toyota

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Toyota Australia
Toyota Australia

closed Comments

    • salem on 03/05/2012 - 13:47
      +12

      is it? "Finance"/loans can be considered a product. The interest rate is the measure of their price. Can you point to a cheaper loan rate for new cars somewhere?

    • prosserd on 03/05/2012 - 14:18
      +2

      Considering many finance rates are around 10% then a 2.9% rate is actually quite a good deal.

      • prosserd on 03/05/2012 - 14:23
        +6

        I retract this comment, bad deal because you have to pay full retail price for the car. No bargaining is lame.

  • orange123 on 03/05/2012 - 13:46
    -4

    Why would you buy a new car when they depreciate ~ 30% after the first year.

    • bemybubble on 03/05/2012 - 13:49
      +4

      Because if you buy it for a business that depreciation is claimable… :P

      • ferguscan on 03/05/2012 - 14:06
        +3

        So you get a 30% discount on the depreciation, meaning that in after-tax dollars your car only depreciates 21% after the first year. Yay!

    • samfisher5986 on 03/05/2012 - 13:51
      +11

      Its simple.

      A brand new car has no history, how you care for it will shape the car.

      A second hand car is basically a gamble on how its been treated in the past. You have no idea if the previous person treated the car very badly and decided they they were a mechanic overnight and put twice as much oil as it needed etc.

    • erd on 03/05/2012 - 13:51
      +1

      not every brand. and this depends a lot on what you pay for the new car (and therefore your negotiation skills).

      • Doey21 on 03/05/2012 - 13:53
        +2

        Think of it this way:

        People buy new cars = more second hand cars on the market + Fewer second car buyers = Cheaper second hand cars

        Win for me :)

    • robinsoa on 03/05/2012 - 13:55
      +4

      because you like your cars new and you are willing to take a financial hit for that privilege.

      I used to swear buying a new car wasn't worth it, but these days I do always buy new - replacing old car every 8-10 years. I just had to give up drinking the Grange.

      • altomic on 03/05/2012 - 14:02
        +4

        your logic is backward.

        I gave up driving, cheers.

        • Doey21 on 03/05/2012 - 14:06
          +17

          Did a judge make that decision for you? :P

        • prosserd on 03/05/2012 - 14:20
          +3

          @Doey21 - well played sir, well played.

    • mop36 on 03/05/2012 - 15:37

      because for me i would buy a small car and by the time i buy a second hand car with no warranty u dont know where its been or who has been driving it it could cost u more than that new car u bought

  • spida on 03/05/2012 - 14:03
    -3

    pretty sure if we called Toyota they would tell us you are not a 'representative' of their company

    • samfisher5986 on 03/05/2012 - 14:04
      +5

      Nobody cares about that.

      Ozbargain has listed what a "representative" is and he is according to that.

      • get-innocuous on 03/05/2012 - 17:17

        I'm not a big fan of it though - working in a store but being marked as a 'rep' for the company caused some friction at my old job. There should be a distinction between 'having a vested interest in this post' and 'just working for the company' - plenty of bargain posts come from people who work for the retail store but gain no direct benefit from posting it.

    • prosserd on 03/05/2012 - 14:21
      +3

      the key point though is that he is being transparent about who he is and that is all I care about when evaluating a deal

  • Merlict on 03/05/2012 - 14:09
    +2

    I'd be a bit more excited if this was offered on the FT86

  • spackbace on 03/05/2012 - 14:10
    +5

    2.9% - for those that pay full retail and are in an ideal finance position etc etc. Read the PDS guys! Is it worth it if u cant bargain the price down? Doubt it!
    Negged for the above reasons and that its only available to a very few people

    • tae on 03/05/2012 - 14:26

      OP can you comment on this? You cannot bargain the price for the rate? Then this is a spam for sure.

      • AssociatedPinzVidz @ Toyota Australia on 03/05/2012 - 14:42
        +4

        C'mon guys give me a break, my first post and you're already labeling me a spammer? Sheezzz… :)

        You can't have more than one bite of the cherry, the manufacturer doesn't offer incentives during these promotions, full stop. Hence, there's little or no room for discounting.

        Try looking at it this way. Generally, the repayments still work out less for a car with no discounting on the lower rate, compared to a discounted car on a conventional rate.

    • prosserd on 03/05/2012 - 14:46
      +7

      Good find in the PDS.

      I have done some quick sums using the Toyota finance calculator on their site and it may still work out better paying the full retail cost and getting the low finance rate.

      Full retail example:
      $40k loan @ 2.9% finance over 5 years (+$265 establishment fee, 0 onroads, 0 tradein)
      gives repayments of $727/m
      gives a total cost of $43.6k

      Bargaining example:
      bargain $5k off the $40k retail price = $35k
      pay 9% finance (just as an example - most banks are around 10%)
      $35k loan @ 9% finance over 5 years (+$265 establishment fee, 0 onroads, 0 tradein)
      gives repayments of $738/m
      gives a total cost of $44.2k

      So in the end paying full retail and getting such cheap finance (in some cases - not all) still can leave you better off than bargaining and paying the full rate.

  • cloud226 on 03/05/2012 - 14:17

    how often this comparison rate comes around?

    • spackbace on 03/05/2012 - 14:28
      +3

      Every few months at the moment

  • virtualds on 03/05/2012 - 14:33

    What's the difference between Finance & bank loan?
    what factors any one has to check before going on loan or finance?

    • prosserd on 03/05/2012 - 14:52

      Finance and bank loans are basically the same beast.
      See my calculations above. You have to factor in the total vehicle cost, the term of the loan, the interest rate etc.
      The main factor to check is that you can afford the repayments without crippling yourself financially :)

      • bemybubble on 03/05/2012 - 21:59

        Not all people can get a bank loan, this loan is secured against the car itself. I think this is a better benefit for business owners as I have discovered some financiers won't lend towards specific structures i.e. trusts & companies

  • burnstar on 03/05/2012 - 14:47

    My friend bought his Aurion last year on the finance deal and got a pretty good discount on the price as well

  • kaikor on 03/05/2012 - 15:01
    +1

    Me too, I bought mine last Nov on this 2.9% finance and still got a 12% on RRP.

    This is the best option rather than taking money out from your mortgage, where else can you borrow almost $30K and ended up only paying around $2K interest in 4 years?

    DONT BE LAZY! Please go and shop around.

  • spackbace on 03/05/2012 - 15:10

    Rrp and campaign pricing are different. Even reading the ts and cs says that its on paying full price.
    Feel free to find out guys, but u wont know your interest rate till after you buy the car, so you might not be in the position to actually get the 2.9%!

    To the OP, are you a car salesman or Business Manager? What im getting at, is can u legally talk about finance? 1 can and 1 cant, what category are you in?

    • AssociatedPinzVidz @ Toyota Australia on 03/05/2012 - 15:22
      +1

      Yep, the category that can/BM.

  • colaman on 03/05/2012 - 15:34

    This surely is a financial offer and not an Automotive offer. I only say that because if I pay cash, I get a better deal because I am not paying interest (but I have to have the money) even if I pay the rrp.

    • spackbace on 03/05/2012 - 16:15

      Cash vs finance is no longer an issue, both can buy the car for the same amount

    • pmupsinep on 03/05/2012 - 17:11

      No, because if you invest the cash that you have while paying off the loan your return will be higher than 2.9%.

  • fishandchips on 03/05/2012 - 15:41
    -2

    Every where is 2.9%, Everywhere say you need to pay full price, if I am going to buy new call, go everywhere and ask for better price.
    Example, if the car is $15,000 and delivery fee (sales commission = delivery fee)is $1,999 and they asking a car for $18000 then you better ask the sales people, can you have the car for $16500 or the most $16700. So remember delivery fee is sales commission, so if they say delivery fee that mean the salespeople get the delivery fee.

    • spackbace on 03/05/2012 - 16:13
      +2

      Thats highly misinformed

      • snappy1234 on 03/05/2012 - 18:52

        Glad you understood cause i'm still scratching my head> WTF

  • fchis on 03/05/2012 - 16:14

    In Taiwan, 0% (up to $33k AUD depends on the model) for all Toyota model is a norm nowadays during promotion.

  • berger on 03/05/2012 - 18:13

    I think Lexus are 2.9% too?

    • oringal on 03/05/2012 - 18:45

      extra taxes on luxury :L

  • MrZ on 03/05/2012 - 22:08

    In USA, 0% financing on Prius. 0% on Highlander (Kluger). 0% on RAV4. 0% on new Camry. 0% on Corolla. 0% on Tacoma, Tundra, Venza, Avalon, and Sienna.

    • spackbace on 04/05/2012 - 01:33
      +1

      Yeh, hence their lousy finance/retail position ;)

      • Cluster on 07/05/2012 - 14:54

        Indeed. 0% finance is often a sign of a sick economy, just as much as double digit finance for mortgages is also a sign of something not working right. The only exception to this is 'interest free' Harvey Norman style, where the real cost is just rolled into the price.

        If 0% finance was so great then Japan should be booming. They've had essentially zero percent financing for over a decade.

  • Cluster on 07/05/2012 - 14:58

    Some people have the cash to buy a new car and find haggling with car salesmen to be about as pleasant as visiting the dentist for a root canal treatment. For these people this deal is a win: finance at 2.9%, keep the cash in UBank at 5.5%. After tax it's still a win overall.

    • giggles on 07/05/2012 - 19:19

      I find haggling with car salesmen amusing. I recently went through 3 dealerships (partly to find out what the real fleet and rock-bottom price was) and purchased at the third once I was confident I pretty much knew their fleet/wholesale price.

      Bargaining with salessharks is great fun, you just have to want to play their game and be better at it than they are (they make slip ups and give away important info if you are listening carefully).

      Not that many 'surplus' vehicles in the country to get rid of though - ours had to be ordered as stock levels are now kept low locally. The surplus may be overseas, but with Japan's earthquake and Thailand's floods etc it's all over the place with supply depending on what you are looking to buy. I know that the Honda Civic has been in very short supply, and thought the RAV 4 was in the same situation.

      Still, noone is buying so give them a free loan (almost) if they don't bargain what can usually be a 15% saving on a new vehicle.

      FYI, VW were doing a similar finance offer recently (may still) though I don't know the full details. Therefore, Toyota are not the pioneer of this idea.

  • skinny on 07/05/2012 - 21:22
    +1

    Do we need buy a car? I just want the finance at 2.9% to re-finance my home loan :b)

  • AssociatedPinzVidz @ Toyota Australia on 12/05/2012 - 16:48

    Hey all, just an update on this, 2011 plated Camry (new shape, not the old one) is now included in the 2.9% finance offer. This info won't show on Toyota's site, but all dealers should be aware of the inclusion.

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