Toyota's Best Car Deals for October 2024

For most car shoppers, buying a new car involves obtaining a loan to help cover the cost of the car, which you then will repay over time with interest.

Where your loan comes from is primarily your decision. However, external factors such as your income, credit score, etc., can limit your choices. Typically, your financing comes down to three lender options.

1. Your bank or credit union: Many new car shoppers finance directly through their bank. However, credit unions may offer lower interest rates―especially if you are a member.

2. An online lender: Online auto loan lenders might also offer competitive rates, and you can shop around and pre-qualify with multiple lenders simultaneously to compare offers and choose one that's right for you.

3. The dealership's financing department: Car dealerships often offer financing directly through partnerships with banks and other financial institutions. The dealership may present multiple offers, but their rates can sometimes be higher due to additional fees or markups.

Regardless of which of the three you will eventually choose, a savvy shopper will go through a pre-approval process with a bank, credit union, and even an online lender ahead of time before heading to a car dealership lot. The benefits of this are that it helps you determine your actual borrowing capacity and, at the same time, arms you with your list of interest rates when it is time to negotiate with a car dealer. In other words, it helps put you in the drivers’ seat when the dealer starts talking about car pricing and financing.

Related article: Negotiate The Best Deal With a Car Dealer For a 2025 Model

CARFAX's Updated Best Car Deals

To help new car shoppers know what kind of financing deals dealerships are offering right now, CARFAX offers an updated list courtesy of their website blog that covers all makes and most models within each make. Some models will require a dealership-by-dealership inquiry to determine a particular model's current financing rate, which is often dependent upon the locale.

However, you will also want to consider looking for manufacturer-sponsored incentives.

According to the CARFAX blog post:

"Manufacturer-sponsored car incentives are subsidized by automakers and offered through local dealers. They can include offers on new or used cars, and financing or lease deals. Manufacturers offer these incentives to boost sales and make their cars more competitive. Less popular and slower-selling cars are more likely to get better incentives, but even popular models in extremely competitive segments get them. Most car deals are updated every month, and most carmakers offer car deals targeting major U.S. holidays."

That said, here is a summary of the Toyota models they listed.

Please note: Deals vary by region, with some expiring by the end of the month or the first week of November; check the Toyota website for terms and conditions.

Toyota Financing Deals

RAV4: 3.99% for 48 months on 2024 models

RAV4 Hybrid: 5.99% for 48 months on 2024 models

Highlander: 6.99% for 72 months on 2024 models

Highlander Hybrid: 6.99% for 72 months on 2024 models

bZ4X: Contact your local dealer for the latest financing offers.

Corolla: 5.49% for 60 months on 2024 models

Corolla Hybrid: 5.99% for 60 months on 2024 models

Corolla Hatchback: Contact your local dealer for the latest financing offers.

Camry: 4.99% for 60 months on 2025 models

Tacoma: Contact your local dealer for the latest financing offers.

Tundra: Contact your local dealer for the latest financing offers.

For additional articles related to buying a new car, here are a few useful ones recently posted for your consideration.

• Truth from a Toyota Mechanic Might Offend Toyota Truck Owners
• Toyotas That Last a Lifetime Discussion by Experts
• Cheap Cars That New Car Shoppers Are Buying Today Recommended by Consumer Reports

Timothy Boyer is an automotive reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter at @TimBoyerWritesfor daily news and topics related to new and used cars and trucks.

Image source: Deposit Photos