0% comparison rate

[thtupid]

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...

[SuperDave]

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.

[ben yip]

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

[fillit]

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.

[thtupid]

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!

[ben yip]

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

[STYLSH]

* 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