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Posted

Hello. Sorry if this is in the wrong area but i read that Toyota is offering 0% comparison rate on all camry/aurions. What does that mean? Does it mean 0% interest rate repayments on a loan for a private buyer? Would be nice if it was...but it sounds a little too good to be true. I will jump right into a dealer if it's 0% interest though...

Posted

Cehck the fine print to see if there is a balloon payment at the end, how long is the rate for? et cetera.

The comparison rate thing is a way to compare loans with differing fees. So if it is 0% it would appear that there are no monthly fees or establishment fee. But check the fine print.

Posted

it is by law in nsw that when you have a mortgage (house or car) to have comparison rate listed. Bank like to charge fees to deceive people. Comparsion rate is the real interest rate including all the fees

Posted

it's 0% as toyota takes out their facility loans in USA, which is almost no interest, they therefore can afford to sell cars at 0% comparison, where they make their profits from purely turning over the cars.


Posted

Sorry when it comes to money terms i'm totally daft...so other than fees and stuff, there are no interest repayments right? So say if i borrow 100 bucks, a 0% comparison rate would mean i will pay back 100 bucks plus additional costs right? Compared with say 10% comparison rate i will have to pay back 110 bucks plus costs? Thanks for the help!

Posted

no cost at all, if they charge you cost, then it is not comparison rate..

Comparison rate includes all fees and cost

NO FEES SHOULD BE CHARGED

Posted

* 0% comparison rate available to approved personal applicants & a 0% annual percentage rate is available to approved Bronze Fleet & primary producer applicants of Toyota Finance for the financing of current generation Camry, Camry Hybrid & Aurion models. Excludes demos. Finance applications must be received and approved between 19/9/2012 and 31/12/2012 and vehicles registered and delivered by 31/12/2012. Maximum finance term of 48 months applies. Conditions, fees & charges apply. Comparison rate based on a 5 year secured consumer fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Toyota Finance is a division of Toyota Finance Australia Limited ABN 48 002 435 181, Australian Credit Licence 392536

^^ Fine print

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