Traditional Financing

When shopping for a Toyota or Scion, ask your sales associate about financing through Classic Toyota-Scion. Finance your vehicle through Toyota Financial Services or one of our other financial partners including local banks and credit unions and you can expect the same high standards you associate with Toyota and Scion vehicles.

How Traditional Auto Financing Works
When you choose your new Toyota, Scion or pre-owned vehicle from Classic Toyota-Scion and apply for an auto loan you and your finance specialist  will agree on a down payment and the term - and then calculate your monthly payment based on the purchase price, term, and annual percentage rate (APR).  All new Toyotas, Scions and current through five-year-old Toyota/Scion Certified Used Vehicles (TCUVs) are eligible. Contract terms of 24 to 72 months are  available (terms depend on vehicle age). To save time use our convenient online credit application to get pre-approved.

Your monthly payment will depend on: 

  • The vehicle you select
  • Annual Percentage Rate
  • Length of finance term
  • Amount of down payment
  • Amount you finance

All About Equity
Throughout the term of your auto financing contract, part of your payment will be applied to the principal amount and part to the finance charges. At the beginning, your monthly payment covers mostly finance charges, but as the term progresses, the ratio of finance charges to principal changes. Each payment you make increases the amount of equity you've built in your new Toyota or quality pre-owned vehicle. Payment by payment, as the amount of principal you're paying increases, the amount of finance charges decreases. After making your payment each month for the duration of the financing contract, the vehicle is all yours.

So what comes next?
Negotiating a trade-in with Classic Toyota-Scion may be a great way to come up with a down payment for your next Toyota Camry, Toyota Corolla, Toyota 4Runner, other Toyota model or Scion tC, Scion xB or Scion xD. You can also sell your vehicle privately or keep driving it for years to come - it's your decision to make.

Auto Financing Options: Lease or Buy?
Is buying right for you? Good question. If you typically keep your vehicle for five to 10 years, then buying may be your best option. Buying a vehicle means you can drive as many miles as you wish and make changes to your vehicle's appearance. Buying also gives you the pride of ownership. Still wondering whether to buy or lease? Looking for help in choosing a vehicle protection program? Answer the questions on our Buy or Lease Quiz, and we'll help you decide.