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Discussion Starter #1
Hi does anybody know in order to get the Incentives cash from Toyota. Do I have to get the Loan from the dealer? From my own experienced they give out much higher interest and I'm trying to avoid that. Thank you
 

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2020 Highlander Platinum AWD, 2017 Tacoma OR DCLB 4x4
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Typically the incentives are through Toyota Financial, so yes, you likely have to "get a loan from the dealer" though YMMV.

My dealer's finance guy told me Toyota often matches rates if you're pre-approved. Also, Toyota doesn't charge a fee for paying off early, so you can finance through them and immediately pay it off with a loan from your bank. (Just make sure your bank is okay with it first.)
 

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2020 Highlander Hybrid
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The cash back incentives are usually subtracted from your total price when you sign it over to the dealer whether you use Toyota Financial Services or not. The TFS incentives only apply if you finance through them.
 

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2020 Toyota Highlander Hybrid XLE
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You'll have to look at the fine print on the incentives. Some "cashback" offers require Toyota financing, while some don't. I know with any special apr offers you either get the incentives or the interest rate only. Make sure to triple check with your dealership on how whatever offers are available work. My salesperson told me I could get the 0% in addition to the rebates only to say otherwise the day we went in for the purchase.
 

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straight cash homie
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Discussion Starter #6
You'll have to look at the fine print on the incentives. Some "cashback" offers require Toyota financing, while some don't. I know with any special apr offers you either get the incentives or the interest rate only. Make sure to triple check with your dealership on how whatever offers are available work. My salesperson told me I could get the 0% in addition to the rebates only to say otherwise the day we went in for the purchase.
Yes I'm looking for 2020 Hylander XLE Incentives cash back. Right now they have $1750 Incentives cash back if I could get the deal that you had Incentives cash back plus 0% that would be great thanks 👍.
 

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2020 RAV4xse hybrid 2020 Highlander Pl
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Get out your calculators and apply a little 6th grade Mathematics. A comparison of net calculations based on MSRP for the cheapest Highlander "L" exclusing any additional costs for taxes, tags and minus any additional cash off you can chisel from the dealer's net price. Upscale models will cost much more accordingly.

You can get the $1750 cash back for a straight cash deal or one financed through your finance company or available through the dealer the dealer, but not financed by Toyota through TFS, leased, etc. You can get the $2250 cash back plus a loan from Toyota at rate from TFS based on your credit score.

Using the example of a cash buy vs. loan for the Highlander "L" which stickers for $35775 with an excellent credit rating of 720+ with the $2250 cash back and a down payment of $2000 the payments at 4.94 APR are $537/month.

If you pay cash your equivalent cost is $35775 - $1750 cash back = $34025

If you use your own finance company your cost will vary, essentially being : $1750 cash back + sum of monthly finance charges charges based upon your credit rating and the period of the loan.

If you take a TFS loan having an excellent credit rating it would be $2250 cash back - $2000 cash down payment + ( $537x 72 = $38664) sum of monthly payments = $38414

That's a total cost of $4389 extra over the period of the loan for a loan over a cash buy with the $250 lower cash back offer.
 

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straight cash homie
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A dealer is more likely to discount if you finance...keep that in mind when considering the financing options too. Can always refinance the car too with a credit union, given how good interest rates are right now.
 

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My incentive was $2750 for my 2020 XLE Hybrid purchase a couple weeks ago. I had to finance through TFS to get that much (plus a little over $3k in dealer discount). I lost a certain amount of it if I didn't use TFS.

The interest rate from TFS was only a quarter point higher than what I could get at my Credit Union. I am still ahead if I don't do anything but I could save about $300 more if I re-finance through my credit union. They do not charge any fees so I may do it or, look around for an even better rate to refinance the loan.
 

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Discussion Starter #10
2020 XLE AWD white pearl with premium sound and all weather liners package $41k OTD what do you guys think
 
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