What does everyone think my odds at finance are? I would like to pay at least $20k cash and finance the rest, never financed anything before infact I don't even own a credit card.

Have been saving money away for an M3 but after many months of research I don't think that's the best idea for me right now.

With finance you have two options

1) Personal Loan through a bank , credit union or small lender. These days you can get a personal loan at 10 - 12 % unsecured which means the lender has no interest in the asset you purchase. Depends on your income levels too, If you have a net monthly income of $2500 per month you shouldnt have any issues.

2) Asset finance
This is the option which most of the car dealers will offer you, usually you need an ABN number as it has benefits. With this option the lender registers an interest in the car and the interest rate is much lower.

I do not know your situation , age , salary etc etc . but these are your options as far as getting the car financed.

hope this helps

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Woah! I cannot believe the price!

When you look at what other (read: fun) options you have for that price range, why would you consider anything else?

So excited! :D

Thank you for taking the time to reply, I have been doing some research but the best course of action will have to just pop into Toyota and have a chat IMO.

It's a shame they haven't extended the 2.9% finance to the 86 yet otherwise I'd be more keen to jump on one sooner. I suppose the demand is great enough that they won't have trouble shifting any that hit the country (at least over the next year) so it wouldn't be in their best interests to be offering it on such a car.

I might just need to hold off a bit longer.

Bounce - the interest on most Secured/Unsecured Car Loans or Personal Loans is nasty unless you plan to be paying it off quickly, so save as much as you can before comitting to a loan because you will be far better off in the long run.

Asset finance -which is secured via your car - roughly 8 - 9 % , these have recently come off. be mindful to ask them about all the hidden charges and stuff, some deals are very sneaky with decent rates but higher admin cost plus establishment fees and stuff.

just take time to read all the stuff before putting pen to the paper

Awesome pricing! How good is that!!
I ordered a velocity orange GTS back in March so expecting it early next month
Anyone else going the orange?
Also any official word on the options?
Cheers

Absolutely. I do have financial commitments bigger than a car though so it's something I can't rush into. That's funny coming from me seeing as the amount I've spent on cars on an average income would make most people have an aneurysm.

All I know is I'd really like one. I can keep dreaming a bit longer. My test drive is booked with my local dealer who is receiving a white GTS Auto later this month. They are trying to squeeze a deposit out of me (I must be the only one who has shown them interest?) but I'm not going to cave.

PS. I recognise a good number of names in here. Hi guys!

Without prejudice, I'm not a finance guy and am not giving you professional advice here but i think you'll find the rates will be much higher on an unsecured loan unless you are asset backed (own your own home or are paying one off) or have a triple A credit rating (which most likely you don't have any rating if you haven't borrowed money from a finance company before).

Asset Finance is not the only method of secured car loans from a finance company, bank or dealer financier and not all of them require you to have an ABN. As for tax advantages you would be better off speaking to your accountant about your financials as they are tax specialists but there are several advantages via different types of loans and they may not all suit your needs - some methods may even cost you more money than necessary.

The simplest way of finding out is to contact a credit union, bank, dealer's finance guy/girl and find out which one better suits your needs; although you will most likely find more support will come from the dealer to help you get the loan and in alot of cases the finance company may be more lenient on rate/terms if the loan is being established by a dealer who has their floorplan with them.

P.S. 20k deposit is nothing to be sneezed at, however, you will still need to meet the capacity to pay off the borrowed amount. If anyone would like, please feel free to contact me at any time and i can put you in touch with some awesome finance people - and no, I'm not making any referral fees out of it - just trying to help.

They won't be doing the 2.9% comparison rate finance offer on the 86, don't waste your time waiting for nothing - if you want an 86 this year in the colour of your choice get your order in ASAP. By the way, any deal you make for the new car must be stated whether it is subject to finance or not by law. Subject to finance means if finance cannot be obtained then they must give you your deposit back - the actual terms and conditions vary from state to state so as one of the previous posters suggested, read everything - if you don't understand what something in a contract means - ask them or your financial adviser.

I always put down subject to finance on my contract even if I'm paying cash!!!

Definitely not waiting for Toyota finance, I realised they wouldn't be doing it. I don't need it this year really, I might just wait and save up for a bit longer. I've had plenty of loans in my time so I know what I'd be getting myself into.