How to Finance a Scion
Scion, a marque of Toyota, offers financing and leasing for used and new Scion models through Toyota Financial Services (TFS). TFS offers numerous finance options to help consumers obtain a loan that fits their needs, such as Certified Preowned Financing (limited by age and mileage of the car), several military programs, a college graduate program and even financing for consumers with little or no credit history. Learn where to find Scion financing information and how to obtain your loan.
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Instructions
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Go to Scion.com to view models, specifications, options, standard warranty and finance or lease offers. Doing so before you arrive at a Scion dealership can help to better prepare you for your purchase. Hover your mouse over "Buying & Leasing" to access finance programs, details, offers and more information about TFS lending opportunities.
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Click on "Find a Dealer" from the top of the page. Input your ZIP code to view the dealers closest to you. From the results, you can click on the Scion dealership name to go to the dealer's independent website, where you can find dealer hours, contact information or even dealer email address for contact, if you prefer.
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Go to the Scion dealership and ask for a salesperson. Tell your sales representative which car you'd like to finance. If you are shopping for a used car, work with your salesperson to find one you'd like that qualifies for TFS's used car finance program; it must be less than six years old and under 85,000 miles with a clear CARFAX report.
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Test-drive the Scion model to ensure it is the car you want.
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Ask to fill out the TFS credit application for loan approval. Your Scion salesperson will discuss your financing needs, such as monthly terms, money down and your payment needs, as well as walk you through the credit application.
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Wait for your TFS approval, which can take up to an hour. Go over your approval rate and payment. If the payments is affordable and you are satisfied with the vehicle, continue with your purchase.
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Give your Scion salesperson you insurance information; he will add the Scion to your insurance policy, providing the proper vehicle information and adding TFS as the loss payee. You will likely call your agent together so the salesperson can ensure correct information is provided and have proof of insurance faxed to the dealership. Make an appointment to pick up your Scion or pick it up same day, if the Scion dealer allows.
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Sign your TFS contract and state motor vehicle paperwork with the dealer. You do not have to go to a motor vehicle office, as the dealer completes all of the paperwork with you and submits it on your behalf. Provide the dealership with your money down, if applicable.
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Go over the Scion with your salesperson to learn how to use its features and options. Check the vehicle over for scratches or damages before leaving. Your salesperson will attach your plates for you.
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Tips & Warnings
You can apply for financing online through TFS, but it is quicker to do so at the dealership. The Scion website forwards your application to a dealership who will contact you, but the Scion website warns this can take up to a week.
You do not have to use TFS. Your Scion dealer uses other banks or you can apply to an outside lender on your own.
