New Toyota was giving me 8-9%. I just picked up a used one instead but I went with my bank at 5.74%

 

Thank you for the info. Toyota's high rate is just another example their decision to maximize their profit per new Sienna. Toyota is offering much lower rates on their other vehicles. I think 5.74% is a great rate for a used Sienna. What bank did you go with?

 

I purchased a brand new 2025 Sienna Platinum last month at the end of January 2025 and the interest rate was 5.64% through a bank.

 

Thank you for the reply. I appreciate it. I think 5.64% is a great interest rate these days. What bank or credit union did you use?

 

Honda Odysseys have a 1.9% offer.

 

It’s 1.9% because the Odyssey isn’t selling. There are over 8 Odysseys on the lot at the local Honda dealership and they’ve been sitting there unsold for over 2 months.

 

Go with your own bank.

 

I think that might be a mistake in some cases. Things have really changed since the fed rate has been so high for so long. The interest rates vary widely now. I'm actually going to get a quote from my credit card, Capital One. Supposedly, they have a very low interest rate on car loans. I was hoping someone would post a rate from one of the online only lenders as they consistently advertise the lowest rates.

 

You might as well shop around.

 

DCU, PenFed, Navy Federal, SeaWest - we've always gone with the online CUs and gotten the best rate, however our Sienna purchase utilized SeaWest and the dealer facilitated the bank and financing. It was the best rate at the time - surprised us. We still paid it off early b/c it was 5.74%.

 

5.74% isn’t bad but it isn’t great either. Those days of 1.9 are over

 

Absolutely right. The only way to get truly low interest rates now is if it comes directly from the manufacturer. - And then only on vehicles that aren't selling well.

 

Toyota has a 4.9% on the RAV4, it’s the best selling car in America.

 

I know, frustrating isn't it. It just goes to show they could be offering good rates on the Sienna (if they wanted to). According to another thread on this forum, Toyota has chose to maximize their per unit profit on the Sienna. That means full MSRP on every one sold and no low interest deals which apparently costs them more money in the long run than offering rebates and sales. I'm guessing it's because they just don't have the capacity to significantly ramp up the production on the Sienna, beyond what they've already announced.