How Desperate Is Toyota Motors?

Desperate enough to extend credit to someone like me, apparently.

After being turned down by everyone from Ford Motor Credit to Benny the loan shark, my credit union came through with financing terms. I was waffling between a 2006 Toyota Tacoma SR5 4×4 with 91k miles (but in excellent condition with tons of extras), and a brand new 2010 Tacoma 4×4, which I could have had for 2% lower interest than I’d get with the used one, and 72 month financing, to boot.

In the end, having a new vehicle with a 100k mile factory warranty for only $100 more in monthly notes was just too good to pass up.

So I went to the dealership this morning to sign the buyer’s agreement, and they asked if I’d like to try getting approved through Toyota Motor Credit. “What the hell,” I figured. “One more hit to my credit record won’t be too bad, and this is the last time I’m going to be financing anything for a long time. They’ll probably turn me down, but I still have the credit union to fall back on.”

Well, not only did they approve me, but at an interest rate so much better than my credit union that I could finance the truck for 60 months for only $70 a month more in payments. That will save me roughly $7,000 over the term of the loan.

So thanks, Toyota Motor Credit!

Hopefully, I’ll have pics of Frankenhoopty II by the end of the week!