What Are My Options for Financing a New Toyota?

Toyota is known for making reliable vehicles that require fewer repairs and that last longer than their competitors. Toyota’s commitment to producing vehicles that focus on function over form results in longer-lasting engines with high fuel efficiency. For this reason, they are considered both reliable and economic.

If you are looking to purchase a new car, a Toyota is an economic choice. New vehicles are costly, but Toyota’s record for longevity makes it a good purchase for long-term ownership. A vehicle built to last is more affordable. Less reliable vehicles need more repairs and have to be replaced sooner and more often, making them more expensive over time. If you have decided to buy a new Toyota, what are your financing options? Below are some of the ways you can take advantage of a Toyota loan.

Different Finance Programs Available

If you are looking to take out a Toyota loan, the options available to you are determined by your credit score. Do you always make your payments on time? Have you missed a payment or two? Is your credit far from perfect and you need to rebuild it?

Typically, higher credit scores provide you with more options and flexibility. This measure allows a lender to predict how well you will repay your loan. A good credit score communicates to the lender that you make all of your payments on time and are therefore considered low risk. Because you are considered low risk, a lender may offer better rates or zero-percent financing on a car.

A low credit score does not mean you will be disqualified from buying a car. It simply means there are different terms or conditions you will have to meet to qualify. This could mean higher interest rates or a larger down payment.

No matter your credit score, Toyota can custom design the right financing package to help you purchase your next vehicle. Whether your credit score is perfect or not so great, Toyota has a financing program for you.

Financing With Good Credit

If you have good credit, the Toyota loan process can help you find the best interest rate for your next purchase. You can use the quick pre-approval form to qualify for a finance program with competitive rates. Toyota also offers a payment calculator so you can estimate your buying power or monthly payments. With a high credit score, you can qualify for a great new vehicle APR.

Even if your credit score is not perfect, Toyota can help. Toyota has a special arrangement with both local and national lenders, enabling them to help you purchase a new vehicle even with less than perfect credit.

Options for Lower Credit Scores

Are you trying to buy a new vehicle but have been turned down before? If you have low credit, there are ways to rebuild your credit so you can qualify for a loan. Toyota strives to work with each customer and has programs designed to help rebuild credit. If you have a credit problem, Toyota can help.

Despite low credit scores, purchasing a new car is possible. Simply fill out an online application and a sales manager will work to put together loan options available to you.

Leasing Your New Toyota

You may also have the option of leasing a Toyota. While it isn’t the same as owning your own car, it does come with its benefits. Monthly payments tend to be a little lower, for instance, and you’ll spend less on needed repairs. Because you’ll only drive the car for two to three years, there are unlikely to be any major repairs necessary, and if something larger does come up, the vehicle is likely to still be under warranty. Plus, when you lease a Toyota, you get two years of ToyotaCare, which covers most standard maintenance.

Leasing also gives you some flexibility. At the end of the leasing period, you can return the car or choose to purchase it. And if your credit score has improved during that time, you’ll have even more options, such as purchasing a new vehicle altogether.

Finance Services

Toyota prides itself on customer satisfaction. This translates directly to vehicle performance and quality service. Not only should your next vehicle rank high in safety and performance, but it should also be affordable and convenient.

For these reasons, Toyota offers a host of financing services. These include easy online credit applications so you can get pre-approved for your next vehicle, competitive rates direct from the manufacturer and local banks, value-added services to protect your vehicle investment, and extended warranty programs. You also might be eligible for other benefits, such as college, military, or Uber driver rebates.

If you live in Oregon, Beaverton Toyota has financed customers from all over, including Beaverton, Hillsboro, Tualatin, Aloha, and Tigard. When you’re ready to purchase your next vehicle, our friendly sales team is here to help! With competitive rates and quick approvals, we work hard to ensure your satisfaction. Fill out our free credit application online and we will help you find the right financing.

Value-Added Services

If you are purchasing a new vehicle with your Toyota loan, you will want to protect your investment and its resale value. Toyota offers a variety of value-added services designed to protect your vehicle from damage.

Wear and tear is inevitable, especially to your vehicle’s tires and wheels. Road hazards such as potholes and road debris can damage the tires and wheels, comprising your vehicle’s safety and performance. They’re expensive to repair or replace, so adding on a tire and wheel package can maximize safety and protect the resale value of your car, without any out-of-pocket expense.

Though proper maintenance is integral to a vehicle’s safety, regular maintenance is often overlooked or routinely delayed. However, regular maintenance every six months will improve the life of your vehicle. A factory-trained technician regularly inspecting your car can catch minor problems that otherwise could develop into major issues if left unchecked. This can improve the longevity of your engine, transmission, tires, and brakes. If you pre-pay for maintenance, this will not only ensure the safety and longevity of your vehicle but also lock in today’s prices for many years to come.

Newer cars are built with a collection of computers and assemblies—multiple parts that work closely together as a part of a system, connecting to one of the computers. When one part fails, the whole assembly or computer must be replaced. Though this improves the performance of the vehicle, it also increases the cost of repairs. As a part of your Toyota financing, you can budget a few dollars a month toward repairs as a part of the vehicle service agreement.
With so many options available, it’s easy to find the right financing option so you can buy a new Toyota that will last for many years to come. Contact Beaverton Toyota to discuss financing for your new Toyota.

Tags: Toyota Lease, Toyota Loan, ToyotaCare, Value-Added Services
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