In the market

[DailyDriver]

Go to toyota cerritos. Go straight to internet sales. The reason your interest rate is so high is that you are stretching it out for so long. If you go down to 60 mo. You'll get the 1.9% special. it's not going to be in your budget. So you're not gonna get close to a 1.9% due to the term length that you're after for the budget. Whenever I go car shopping (frs was the 6th car that I had bought) I never tell them what I want to pay. I say give me the best deal possible. They came back with 1.9% and you'll have it paid off in 60 mo (5 years) not 84 mo (7 years)

Personally I will not go over 60 months. Although the payments are higher, I'll own it sooner rather than later.

Just my .02

[BrianFRS]

Originally Posted by Turbo95eg6

How old are you OP?

I'm 24 in July, and I just checked my score...702. Not bad for a young blood.

[BrianFRS]

Originally Posted by DailyDriver

Go to toyota cerritos. Go straight to internet sales. The reason your interest rate is so high is that you are stretching it out for so long. If you go down to 60 mo. You'll get the 1.9% special. it's not going to be in your budget. So you're not gonna get close to a 1.9% due to the term length that you're after for the budget. Whenever I go car shopping (frs was the 6th car that I had bought) I never tell them what I want to pay. I say give me the best deal possible. They came back with 1.9% and you'll have it paid off in 60 mo (5 years) not 84 mo (7 years)

Personally I will not go over 60 months. Although the payments are higher, I'll own it sooner rather than later.

Just my .02

No worries, I've contacted other dealers, and they offered me 1.9, with 0 down. And thats with the College Grad Rebate. I can't afford the finance option, but that still applies to the lease, and I can walk out the door, at $350 for 36months/36k miles. Plus, no payments for the first 90 days.

Once the term is up, I'll keep it and pay the rest off. By then I'll have a promotion and possibly a pay increase.

[jeepmor]

Originally Posted by BrianFRS

That's exactly my thoughts, but it's not. So I'm just thinking they're trying to screw me over.

Oops, you got that info. Pay your insurance on time, it's one of the most impactive to your credit score. I autopay mine, my credit is 800+, but I'm also 20 years older than you.

[Idriveft86]

Wait for Toyotathon or go to a different financial services .... wait maybe try another dealer first.

[stevesnj]

Go through your bank, the dealer isn't the only place to secure financing.

[kthxbai]

Welcome to the worlds most frustrating roller coaster, buying a car!

If you say your credit is good, I agree with everyone that is saying you should be able to get at least a 3% rate if not better depending on your actual credit score. Do not give up, there will be many more obstacles you will get to, this is just the process. They have what you want and are trying to get as much out of you as they can. I would suggest seeking loan information from other credit unions, maybe even your personal bank as you have an established relationship with them already.

In reference to the college rebate, you can get the $750 rebate however if your finance term is more than 60 months they will not give you the delayed payment incentive. Gotta read the find print as I am not sure what it states for the current rebate. When I was in the market, my fiance had just graduated from college and we were putting this car in both of our names. Math aside, we decided to go with the lower payments and that meant 65 month term, which negated the delayed payment incentive they were offering then which was something like 90 day delay from your first payment if you had a credit score of 740+, but we still got the $1,000 rebate (We bought our FRS in December 2013).

Good luck on your journey, stay strong and don't settle for nothing less than what you want.

[stevesnj]

This is the reason I'm saving and buying mine cash! In and out no interest. Not everyone can do this but I finally can.

[MokSpeed]

They should have a promotion going on right now and you should be able to get 1.9% easily. I'd continue to shop around. If that dealer isn't willing to work with you another one will!

[strat61caster]

Originally Posted by BrianFRS

I can't afford the finance option, but that still applies to the lease, and I can walk out the door, at $350 for 36months/36k miles. Plus, no payments for the first 90 days.

Once the term is up, I'll keep it and pay the rest off. By then I'll have a promotion and possibly a pay increase.

Have you budgeted for insurance? Future license and registration fees? Maintenance?

It sounds like you're stretching yourself a little thin financially which may end in tears, check out the classified section and see how many people are selling due to 'changing life circumstances' = I can't afford it anymore. I hope you get a good deal, but it sounds less like you're saving yourself money and more like you're digging a financial pit to afford this dream.

Also: don't bank on that promotion to be able to pay off the car, you never know what will happen.

[tyrantcf]

I'm surprised not many have addressed this yet but, I don't think you can afford to buy the car. I wouldn't ever buy a brand new anything without at minimum 10% down. You're going to be upside down on that car for quite a while. If I were you and if it were possible, I'd hold off a while until you can afford to put a chunk down and lower the loan term. If you need a car asap I'd get something a few years old and save until you can afford the FRS/BRZ. I'm not a fan of leasing because it's a glorified rental.

Hope I helped a little

[LXXXV1]

Originally Posted by BrianFRS

Once the term is up, I'll keep it and pay the rest off. By then I'll have a promotion and possibly a pay increase.

Same mentality when I decided to lease!

I'm 24 also with a score of 777...should've broken the car in with a drive to Vegas...

Some #'s for you to play with, my lease payments are $343 for 36 months/36k miles, with $3k down on a Monogram. Seeing that you want a base, depending on your down, it should definitely be less than or really close to mine as the Monogram has a sticker of 3K more.

I don't think the 2014's will drop lower than 1.9% either though. Look at their current deals for 2013's and it should be really similar.

This is the good thing about Scion's "Pure" lease things and you're in Tier 1 so you should qualify for this deal.


http://www.scion.com/promotions/pure...t=e#model=FR-S

[Synack]

Don't accept anything more than 3.5% and please don't go over 60 months. You can't truly afford something if you're dragging the payments out for 84 months.

[LXXXV1]

Originally Posted by jeepmor

Oops, you got that info. Pay your insurance on time, it's one of the most impactive to your credit score. I autopay mine, my credit is 800+, but I'm also 20 years older than you.

Originally Posted by strat61caster

Have you budgeted for insurance? Future license and registration fees? Maintenance?

It sounds like you're stretching yourself a little thin financially which may end in tears, check out the classified section and see how many people are selling due to 'changing life circumstances' = I can't afford it anymore. I hope you get a good deal, but it sounds less like you're saving yourself money and more like you're digging a financial pit to afford this dream.

Also: don't bank on that promotion to be able to pay off the car, you never know what will happen.

Definitely budget for insurance BEFORE you crunch numbers. I pay my annual policy all at once because I can and it's cheaper.

Originally Posted by tyrantcf

I'm surprised not many have addressed this yet but, I don't think you can afford to buy the car. I wouldn't ever buy a brand new anything without at minimum 10% down. You're going to be upside down on that car for quite a while. If I were you and if it were possible, I'd hold off a while until you can afford to put a chunk down and lower the loan term. If you need a car asap I'd get something a few years old and save until you can afford the FRS/BRZ. I'm not a fan of leasing because it's a glorified rental.

Hope I helped a little

I could've/would've done 20%(I thought 20 was the recommended?) if I financed but I didn't want to be tied down to a 6 year payment of $400+/month. Also leased in case they turbo the car or the value of the drops significantly and I have a warranty.

Assuming you just graduated in a pretty stable career, and you're not stretching your budget too thin (hope you're smart enough to not fully disclose your budget as some people here are already assuming), you should be ok.

Some food for thought for those who saved up to buy it all at once...you can't buy back your time. I've read on a random forum somewhere on rolex's that some guy waited 5 years to save $2k on his watch...that's 5 year's he could have been wearing the watch. The time it takes anyone our age to actually save up to buy this car straight cash, that's time wasted being envious of drivers. Unless one lived in a cave and had no social life than yea you can probably save in 1-2 years. And by the time we REALLY save up for this car, how many years would we be able to enjoy it before the wife makes you sell it for a van?

***Assuming a college grad is smart enough to save for the engagement ring, wedding, and down payment on a house that should all happen around the age of 30 + or - a few.***

Not implying that the advice everyone's been giving here is wrong, just different for everyone! All the advice in this thread is very helpful and should be taken seriously into your decision. Lol I'm only giving you the benefit of the doubt bc I know how it feels to have people assume less of you because we're so young. Anyone in the sciences field should be able to easily afford the finance. Yes, those can argue about getting laid off or other circumstances, but again, giving you the benefit of the doubt! Should go without saying that if you get yourself fired for doing somethign wrong, you're an idiot...