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We don't and wouldn't do that at our bank baring very special circumstances everyone agreed to.

If a bank did it, they should be exposed.
Most still do, people need to read a loan document thoroughly, most sign it trusting the guy or girl across the desk.
99% of borrowers have no clue of the rate spead at a bank either. Personally I've never seen a bank make less than 3 points off a customer.
 

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On a $10,000 5 year loan at 5% interest, the difference on payoff at two years in is only like $2.50 or so.

Over a full term it doesn't matter.

I agree everyone should know what they are signing and everyone that sits at my desk gets that option. At the end of the day, though, unless you get into money beyond the typical consumer loan, there isn't a ton of difference. And that's not justifying it. I don't care for the practice.
Most still do, people need to read a loan document thoroughly, most sign it trusting the guy or girl across the desk.
99% or borrowers have no clue of the rate speed at a bank either. Personally I've never seen a bank make less than 3 points off a customer.
 

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On a $10,000 5 year loan at 5% interest, the difference on payoff at two years in is only like $2.50 or so.

Over a full term it doesn't matter.

I agree everyone should know what they are signing and everyone that sits at my desk gets that option. At the end of the day, though, unless you get into money beyond the typical consumer loan, there isn't a ton of difference. And that's not justifying it. I don't care for the practice.
I'm not referring to a 10k loan, it's the 100k+ they get really screwed on. I'm actually pleasantly surprised hearing your take on it, you're much different than most.

I'm with you on the rule of 78, it should have been outlawed for every lending institution, period. People need to educate themselves on borrowing money instead of blindly trusting.
 

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Guess the good news is there are very few consumer loans of 100k on a 61 month term or less! Even a smaller number, miniscule, being paid back early. People with that money typically understand money!

I'd sure like to make a few of those though! Simple interest is just fine!
I'm not referring to a 10k loan, it's the 100k+ they get really screwed on. I'm actually pleasantly surprised hearing your take on it, you're much different than most.

I'm with you on the rule of 78, it should have been outlawed for every lending institution, period. People need to educate themselves on borrowing money instead of blindly trusting.
 

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Does anyone have any luck getting them to come down much off a Toyota? I’ve bought two from a dealership and neither budged a whole lot. They basically said it would sell at there asking price.
I whittled almost $4,000 off the sticker on my 4Runner in January. I wanted more but realized I had hit the wall.
If the deal goes through on my daughters CH-R I’m disappointed in that I only got $1500 but Toyota is giving $2000 rebates so that will be $3500 off total. Probably should have pressed for more but they were getting punchy. Had already ran one sales guy off so the guy that sold me the 4Runner called me and I put him to work.
I’ll be mad because I’ll still have to pay sales tax on that rebate, which is so stupid it makes me sick.
 

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I whittled almost $4,000 off the sticker on my 4Runner in January. I wanted more but realized I had hit the wall.
If the deal goes through on my daughters CH-R I’m disappointed in that I only got $1500 but Toyota is giving $2000 rebates so that will be $3500 off total. Probably should have pressed for more but they were getting punchy. Had already ran one sales guy off so the guy that sold me the 4Runner called me and I put him to work.
I’ll be mad because I’ll still have to pay sales tax on that rebate, which is so stupid it makes me sick.
My buddy wanted me to go with him to look at and buy a vehicle with him the other day. Well the guy wanted x amount of money for the truck it was like 5k more than he owed on it. So he told the credit union what the guy wanted and that he would just give the guy the 5k cash well they charged him taxes on that 5k he told me. I didn’t know that was a thing I don’t guess. I really should study up on it more.
 

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Dude, don't get me started on sales tax and how it is all calculated. Especially if we enter the used car market. I'll have a coronary or a stroke.

Not the dealerships faults of course, just part of the whole process.
I whittled almost $4,000 off the sticker on my 4Runner in January. I wanted more but realized I had hit the wall.
If the deal goes through on my daughters CH-R I’m disappointed in that I only got $1500 but Toyota is giving $2000 rebates so that will be $3500 off total. Probably should have pressed for more but they were getting punchy. Had already ran one sales guy off so the guy that sold me the 4Runner called me and I put him to work.
I’ll be mad because I’ll still have to pay sales tax on that rebate, which is so stupid it makes me sick.
 

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Sales tax should be calculated as the difference in selling price and trade value. Unless there are dealer rebates. Those get added back in and you pay taxes on money that never existed. Scam in my opinion.
 

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A dealership would have to know your county and city to give you a complete tax included price, and still couldn’t give you a license price. When they say tax included it is only the state tax. Nothing else.
Have to disagree. Last 2 vehicles I bought, paid the price they quoted me (within $10.00), on the phone. It included, tax, title, license, inspection, etc. It was the total, drive out price. I am looking at the contract right now. Telling them the city & county I lived in, was no issue. I know all dealerships don't do this, but some can, & do. I live in Texas.
 

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Does anyone have any luck getting them to come down much off a Toyota? I’ve bought two from a dealership and neither budged a whole lot. They basically said it would sell at there asking price.
If possible, I always wait for rebates when buying a Toyota. Last rebate I got was $3,000 back in 2017. They'll usually come off the sticker a few thousand, just got to catch them at the right time. It also depends on which vehicle you are buying.
 

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I’ve been searching the country for a certain Tacoma for the last 3 days. Finally found one today in NC. I’ll say they didn’t deal much at all but I think it’s one of the only ones left in the country for sale.
 

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My curiosity is peaked. What are you looking for?
I’ve been searching the country for a certain Tacoma for the last 3 days. Finally found one today in NC. I’ll say they didn’t deal much at all but I think it’s one of the only ones left in the country for sale.
 

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My curiosity is peaked. What are you looking for?
Trd Pro Army green. I bought the one in NC. There seems to be none anywhere else remotely close. I looked for a regular trd as well in the quicksand color which is now discontinued. I talked about ordering a 2021 pro which is called lunar rock color and they could be any where from 3-6 months to get. I don’t have that kind of time. Hunting season will be over.
 
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