Hi everyone, this might be a long shot but I still want to give it a try and ask for help
I'm on a financial help point and the dealership is only giving me a couple options to buy due to my credit score. I got approved for a
1. 2015 rav4 LE at $442/monthly at 23.02% apr
2. 2022 rav4 XLE at $773/monthly at 22.86 apr
Which one seems more reasonable as if I get the #1 2015 rav4 I can give $600 monthly and help pay off faster or do #2 2022 rav4 and keep it at a decent interest rate
Thank you for everything
Do not pay those interest rates, it will lead to financial ruin. You're going to have to save a few thousand and buy a used car.
@crawfordjohn unfortunately I don't have the enough timing. My current car will be taken by the bank and I want to get one of this cars before I'm out of vehicle in general. Plus the state that I'm from, I'm a few months for snow season. So I need something quick just to maintain a steady income
Wow! That interest rate and prices are insane. I would go with the cheaper one if I were you, but I'd really try to find something else. They're really sticking it to you
@scottykilmer thank you Scotty! I know it's a bad rate but due to my current financial level that what i have to deal until everything get situated again and I can refinance.
Thank you for the response!
@scottykilmer hi Scotty, thank you for replying to my original post.
I have one more question. On the cars I mentioned
The 2015 rav4 le has 95k miles on it
The 2022 rav4 xle has 62k miles on it
Which one sounds good to get? Excluding the interest rate. I just saw a video of you saying that you don't recommend a 2015 rav4 over 150k miles on it. I just wanted to hear your thoughts.
Thank you for everything!
@scottykilmer Scotty doesn’t answer follow up questions but I think either car is a good car if you can afford the payments
Unless you have a job that requires you to have a newer car such as Uber, I would get something older, at least 15 years. You’re already buying a Toyota anyway. So what if it has 150k miles on it, you’ll still be able to put another 150k on it if you take care of it.
@bobthehatking thank you, I thought of that and even navy federal couldn't help me.
I got this aprs through capital one so I was even surprised on the rates I got.
So far due to my financial level and capacity. This might have to be to at least have something to be able to drive to work. I even tried to buy an old 2008 toyota camry and they wanted 9k cash. I was surprised.
I might have to be suck with the toyota rav4 2015 le 95k miles on it but the rates are not too bad where I can be consistent on payment
The dealership is asking 800$ policy which is a robery but that's all I got at the moment
Find yourself another old Camry. No 08 Camry is worth 9k unless it’s got super low mileage. Plenty of good used cars out there for $6k or less.
Actually, Camry is a larger car. Look more at corollas or even a Yaris. Also look into Hondas, Mazdas, Subarus as well. And some of the Fords, GMs, and Nissans from 15+ years ago were somewhat decent, won’t last as long as a Toyota but you’ll probably pay less.
Also remember that scions are basically Toyotas
Avoid financing if possible, or try financing through your bank or credit union and see if they can do you better
I just wanted to hear your thoughts.
Scotty does not usually return to topics he has already answered.
It sounds to me like you're being taken to the cleaners on either deal. You can easily look up the the inherent issues on each model via a simple internet search.
@chucktobias thank you!
that's a terrible rate. Worse than credit card. And in a time when rates are low.
@imperator sadly due to my current situation, that's the best I had. I went thru a couple dealership and even credit unions. This is the best so far.