Toyota has better finance rates for used cars than new

Toyota has better finance rates for used cars than new

It is possible to reconsider your plans to purchase a new Toyota.

The financing rates for new cars are usually better than those for used vehicles. This has been true for years. CarsDirect discovered that purchasing a factory-certified used Toyota vehicle could be a smarter move than buying one that is new. The CarsDirect report shows that the 60-month financing rate for a used Corolla or RAV4 and Camry is 1.99 percent. This is not just for gasoline-powered vehicles. Hybrid models can also be included in the low APR deals.

Toyota has better finance rates for used cars than new

CarsDirect stated that the APR for a new RAV4 was currently at 2.9 percent over 60 months. There may not be an APR deal for the midsize sedan in some cases, such as for the Camry in Southern California. These may seem extreme, but we recommend that you shop around for the best deals. One reason for the unusual financing rates is the shortage of new Toyota cars. It has been difficult to get a manufacturer incentive for a new Toyota. This is not surprising considering that supply and demand are increasing. CarsDirect also cited another unusual and unprecedented move made by Toyota dealers in Southern California. According to reports, dealers have asked the automaker not to advertise lease deals. However, this does not mean you cannot lease a car within the area. Dealers don’t push the offer to curb demand.

The pricing for Toyota cars, new and used, is affected by the shortage of inventory. Some preowned cars will be priced higher than the new.