BRZ Limited for the same monthly payment as FR-S?

[Big T]

Please correct me if I'm wrong but I was looking at the financing tiers for Toyota financial and Subaru financial and it appears that Subaru offers a lower interest rate for their tier 1 (best credit) customers than the tier 1 customers of Toyota. Subaru's financing goes as low as 2.9% for 72 months whereas Toyota's goes down to just 5.9%.

This means that a 25k FR-S at 5.9% APR interest would have an almost identical monthly payment as a 28k (estimated obviously) BRZ limited at 2.9% APR.

[86fanatic]

Financing at a dealer sounds like a bad idea. I wouldn't pay anything more then 2% through a credit union. 6% APR is highway robbery in my opinion.

[tranzformer]

Originally Posted by 86fanatic

Financing at a dealer sounds like a bad idea. I wouldn't pay anything more then 2% through a credit union. 6% APR is highway robbery in my opinion.

[Big T]

Originally Posted by 86fanatic

Financing at a dealer sounds like a bad idea. I wouldn't pay anything more then 2% through a credit union. 6% APR is highway robbery in my opinion.

True, but both Toyota and Subaru have a 1k rebate program for college grads (I'm just getting my degree, don't hate) that also qualifies them for the lowest APR's. For anyone with less than stellar credit this may be the only way to get a halfway decent rate on a new vehicle.

[tranzformer]

Originally Posted by Big T

True, but both Toyota and Subaru have a 1k rebate program for college grads (I'm just getting my degree, don't hate) that also qualifies them for the lowest APR's. For anyone with less than stellar credit this may be the only way to get a halfway decent rate on a new vehicle.

Originally Posted by Subaruwrxfan

My dealer emailed me back, sounds like the college graduate program just means Chase will look more kindly at you for loan approval, essentially. I wouldn't expect any lower rates, and I know most people won't be handing out discounts, so I wouldn't count on anything more than the ability to get a loan easier.

Originally Posted by dsgerbc

College Graduate Program is designed to help recent graduates without sufficient credit history. So, if during your college years you didn't have CC/cellphone bill/utility bill to pay regularly and you don't have a credit score at all, it might help getting qualified. But you have to have a job/ signed job offer. Here's a random link from google with some delail.

I would bring it up at the latest possible moment when talking to finance people. If you bring it out too soon - dealer will use it to his advantage to claim that he's done everything he possibly could to get you a decent rate and you might feel the same way.

http://www.ft86club.com/forums/showt...?t=4273&page=5


Just remember that Scion could potentially not include the FRS in this program.

[Big T]

Originally Posted by tranzformer

http://www.ft86club.com/forums/showt...?t=4273&page=5


Just remember that Scion could potentially not include the FRS in this program.

exactly. The program ends 4/3 but usually resumes in early May through September. The Scion Grad program states on the website that being a recent grad automatically qualifies you for their best rates. The Subaru site said something about "as long as you have no delinquent accounts in the past 24 months" then you would qualify for their lowest rates. I can see Scion saying that the FR-S is not a qualifying vehicle.

[cmspooner]

Originally Posted by Big T

True, but both Toyota and Subaru have a 1k rebate program for college grads (I'm just getting my degree, don't hate) that also qualifies them for the lowest APR's. For anyone with less than stellar credit this may be the only way to get a halfway decent rate on a new vehicle.

I had been trying to see about rebates for recent/soon grads and hadn't found anything except that Subaru of Keene will help finance a higher amount then they would otherwise (up to $25,000). I am finishing grad school in August so this is of interest to me, would you mind posting a link to the deal?

[Big T]

Originally Posted by cmspooner

I had been trying to see about rebates for recent/soon grads and hadn't found anything except that Subaru of Keene will help finance a higher amount then they would otherwise (up to $25,000). I am finishing grad school in August so this is of interest to me, would you mind posting a link to the deal?

here you go.


http://www.cars101.com/subaru/rebates.html#collegegrad

[SixSpeed]

Originally Posted by tranzformer

http://www.ft86club.com/forums/showt...?t=4273&page=5


Just remember that Scion could potentially not include the FRS in this program.

Actually, they will. I asked Scion on their Facebook page, they said the FR-S should qualify for all their promos.

[Big T]

Originally Posted by SixSpeed

Actually, they will. I asked Scion on their Facebook page, they said the FR-S should qualify for all their promos.

here's hoping they relaunch the grad rebate program just in time for the fr-s debut. Current grad program ends 4/3

[brufleth]

Originally Posted by 86fanatic

Financing at a dealer sounds like a bad idea. I wouldn't pay anything more then 2% through a credit union. 6% APR is highway robbery in my opinion.

Nothing bad about it unless they aren't offering as good a rate. I financed my car through the dealership because I got something like that 2.9% (don't remember what it was now). My bank (USAA) wouldn't offer anything close to that. It isn't like the dealership is going to magically screw you. They just have deals with various banks and can often get better rates than you can individually. They'll often offer special lower rates on new vehicles to promote them. If they do that for the BRZ it could very easily be an excellent deal.

[eikond]

Just because Toyota is only offering 5.9% doesn't mean that your Scion dealer can't still offer you a better rate. Dealers get to work with multiple banks. If the manufacturer offers the lowest promo rate, they will give it to you, but they can also get you low rates from other places.

You'll have to inquire with the finance department to see what they can offer.. then shop your favorite local credit unions/banks. You can also try a national lender (ie. Penfed credit union ~1.9% for 48 and 2.49% for 60).

[tranzformer]

Originally Posted by brufleth

Nothing bad about it unless they aren't offering as good a rate. I financed my car through the dealership because I got something like that 2.9% (don't remember what it was now). My bank (USAA) wouldn't offer anything close to that. It isn't like the dealership is going to magically screw you. They just have deals with various banks and can often get better rates than you can individually. They'll often offer special lower rates on new vehicles to promote them. If they do that for the BRZ it could very easily be an excellent deal.

No the dealer would never try to screw a customer. / sarcasm

[brufleth]

Originally Posted by tranzformer

No the dealer would never try to screw a customer. / sarcasm

For financing the dealership (the car salesman probably doesn't handle the financing) is dealing with banks just like you (except sometimes they get better rates because of deals with banks or because they subsidize the loan). Mine was through Chase if I remember correctly. They want you to get financing that you're happy with because they want you to be able to buy the car. It is definitely good to show up prepared to finance the car through your own bank or whatever but if the dealer can get you a special low rate then there's no reason not to take it. Car loan terms are pretty straight forward. Obviously read through the terms before signing anything.