Toyota Financing Deals

	Starting APR 0.00%	Loan terms 24 to 72 months

Nothing beats 0% APR.

If you’re in the market for a new car, Toyota Financial might snag your attention with its interest-free financing and special discounts for leasing and purchasing. Plus, they’ll even sell you insurance coverage for your new ride.

But there’s a catch: Zero-percent APR and some other Toyota specials aren’t available for all car buyers. You might need great credit to qualify, and Toyota financing deals vary depending on the model and age of the car and the dealership you visit.

Toyota financing options

Buying a Toyota

Toyota Financial can assist with the purchase or lease of a new, used or certified pre-owned Toyota vehicle. If you’re a buyer with great credit, you could qualify for unbeatable financing with no fees and no interest. But even with a credit score as low as 610, you may be approved for a Toyota car loan.

Toyota also offers special discounts and limited-time offers, but they vary by location, so be sure to contact your local Toyota dealership to see what’s available before you apply for a loan.

Leasing a Toyota

Every Toyota lease includes some attractive perks.

The standard lease covers 15,000 miles a year, and payment terms span from 24 to 60 months on new and qualified pre-owned vehicles. Each lease also includes ToyotaCare — a scheduled maintenance plan that lasts two years or 25,000 miles — and roadside assistance for two years.

If you’re looking to lower your monthly payments or reduce your overall cost of leasing, you could also consider one of these special Toyota lease deals:

• 1 Pay Lease: You may be able to reduce your overall cost to lease by making one lump-sum payment up front, instead of paying the lease in monthly installments.
• Low-mileage lease: Your monthly payments could be lower on a brand-new vehicle if you opt for a lease that covers just 10,000 miles per year, with a 33- to 60-month payment term.
• Multiple Security Deposit Program: Lessees can reduce their monthly payments by making up to nine separate refundable deposits at the start of their lease (not available in New York).

Keep in mind that your credit can impact your ability to get approved for a lease through Toyota Financial. Some Toyota dealerships require scores of 620 or higher just to qualify, and 680 or higher to get good (aka low-cost) financing.

Toyota financing pros and cons

Toyota Financial offers low starting APRs, and buyers might qualify for one of several discount programs or special lease options to help lower the cost of car-buying. But it’s hard to know what you’ll ultimately qualify for since terms can vary from one dealership to the next.

A closer look at Toyota financing

If you’re in the market for a new or used Toyota, whether leasing or buying, you might consider going through Toyota Financial Services. Borrowers with good credit might find Toyota’s financing options especially attractive.

While some Toyota dealerships will approve you for a loan with scores as low as 610, you’ll need good or even great credit to qualify for Toyota’s best offer: 0.00% APR. A specific minimum score isn’t disclosed, but according to Toyota, you must be a “very well-qualified buyer.”

Toyota deals vary by state, by dealership and by the vehicle’s model and age. So if you’re looking for a specific incentive, you might want to start the car-shopping process by contacting your local Toyota dealer.

Even if you can’t qualify for a low APR, you might still qualify for one of Toyota’s special discounts. They include:

• Military rebates
• College rebates
• Repeat customer discounts

Note: These rebates are not available in the following states: AL, FL, GA, HI, NC and SC

Certified pre-owned Toyotas

Toyota sells used cars and certified pre-owned vehicles, also known as “Toyota Certified Used Vehicles” or TCUVs. Owning or leasing a TCUV can give you extra peace of mind as a driver, since each one comes with the following:

  160-point inspection

  CARFAX Vehicle History Report

  12-month/12,000-mile comprehensive warranty

  7-year/100,000-mile limited powertrain warranty

  24/7 roadside assistance for 1 year

How to apply for financing through Toyota

You can apply for Toyota Financing online, or you can print out the application and take it to the dealership with you. Here’s an overview of the online application process:

1. Locate a dealership: Enter your ZIP code to find dealerships in your area.
2. Enter your details: Enter details about the car you plan to buy, plus your income and contact information.
3. Review & submit: You’ll have a chance to review the details of your application for accuracy before submitting.

Toyota will review your application within 60 seconds of submission, and you’ll receive your next steps via email within one business day. If you’re preapproved, you’ll receive a preapproval certificate that you can use at any participating Toyota dealership within 30 days.

How Toyota financing compares

Like Toyota Financial Services, you may be able to get 0% APR at certain Honda and Chevrolet dealerships.

All three companies offer discounts for military, recent college graduates and returning customers, but Chevrolet takes it a step further by providing incentives for teachers and first responders, too. Where Honda stands out, however, is that you can apply for a loan AND order your car online, and then have it delivered to you.