Refinanced after 11 months...
 

I was paying 8.25% apr through Toyota Financial, refinanced through my credit union (navy federal) and they gave me 2.09%! I'll have it paid off like 6 months sooner and my payment is ~50 per month lower :)


:happyanim:

This is good info for now. I'm thinkin of doin this, too. My APR is pretty low, but of course it never hurts for it to be lower. Hey, i'll take all the help i can get.

Damn how old are you? I'm 24 and my APR is like 3.XX (low 3s) through some random bank my dealer found paying ~450 with tax and 2k down. Subaru offered i think 3.9

8.25?!?! DAMN. I'm 25, and my rate is 3.2 through toyota financial services, on a 5 year note.

Navyfed here aswell....1.99% for 72 months...$0 down....Im 22.

Yeah same here.. Holy cow 8.25% that's crazy..must have very low down payment or non..not sure what type of payment plan OP signed up for..

I'm doing 6 years but I'll have it paid off 4/5 years

Good for you. :happy0180: Makes the car more fun knowing it costs less...

Yea I think I will be refinancing after about 1 year of payments. 4.9% through toyota but I took off $1000 from removing my warranty and I want my loan readjusted.

Congrats, can't wait to refinance mine! lol think I'm paying 6% at 455 a month. I'm 21.

Damn.. I am 25 and my APR is just over 2%! It's not through Toyota, but instead through the bank that the dealer deals with (Huntington Bank). Oddly enough, before approaching the dealer, I went to Huntington directly and they wanted to get me 4.9% XD

I tried to refinance with my bank (USAA) and the offer was piss poor. Double the interest rate, $50 MORE expensive payments. I was surprised.

Currently: 21 years old, $2,100 down, 6% Interest Rate, $545/mo payments.

holy hell!!! You actually originally financed a car at 8.25%!!! :confused0068:

Glad you got it lowered, but DAMN, I wouldn't have touched a car payment with that much interest!!

My debt/income ratio was fine but I had a lot of maxed out revolving credit lines and some other negative-ish stuff. Originally put 3k down, 72 months. Also worth noting that I traded in my wife's SUV, which we were about 4.5k underwater on. So that probably has a lot to do with it.

Banks usually suck. Credit unions will give you good rates. I also got 1.99% 0 down loan from local credit union buying mine used.