Toyota Models 2020 And How To Finance Them
Toyota is the largest car manufacturer in Japan and the second largest in the world in terms of unit sales. It’s the global market leader in the selling of hybrid, electric vehicles and is also recognized as the industry leader in hydrogen, fuel-cell vehicles.
With a wide range of affordable vehicles, read on to learn more about the best Toyota models of 2020 and how to finance them.
Financing Your Next Toyota
Most car purchases are made through financing but you should keep in mind that financing a car increases the total cost. As with most loans, getting a good rate and lenient terms depends on your credit score, debt-to-income ratio, monthly income, and a few other factors.
It’s also important to consider a few factors like the total cost of the car, the APR, and the loan term. If you have a limited credit history or low credit ratings, it’ll be difficult to get approval. In such cases, you may bring along a cosigner to get better rates.
Start by checking your credit score and researching auto loan options from different sources (private lenders, banks, credit unions, and dealerships), considering trade-in options, and trying to get preapproved for the loan.
Selected Toyota Models
Toyota offers a selection of reliable and fuel-efficient vehicles, ranging from tiny hatchbacks to big SUVs. In 2020, the brand launched the revived Supra model that won the 2020 10 Best Cars Award.
Here are our picks for the best Toyota models of 2020.
Toyota Corolla
Toyota Corolla is one of the highest-selling compact car models. It’s been around for decades, but the 12th generation model got a much-needed transformation, including:
- Advanced safety features
- Solid interior design
- Extremely comfortable ride quality
- Fuel economy
- Apple CarPlay and Amazon Alexa compatibility
- Adaptive cruise controls
- Low maintenance costs
- Multiple models and engine capacities to choose from
The MSRP of this model is between $19,600 - $25,500 with financing options available.
Toyota Prius
The 2020 Prius model is the right blend of a hybrid and electric car. It offers outstanding mileage and is spacious compared to the previous models.
- Comfortable ride quality
- Fuel efficiency (up to 50 miles per gallon)
- 7-inch center display is included with all models
- Apple CarPlay and Amazon Alexa compatibility
- All-wheel drive
- Generous cargo space
- Roomy seating arrangement
Priced between $24,325 - $32,500, this is a great option if you’re looking to save money on fuel costs. Financing options are available.
Toyota Camry
The 2020 Camry model sits at the top of the midsize family-sedan car rankings. Packed with advanced features and new upgrades, this car is worth every penny.
- Roomy cabin
- Good trunk space
- Comfortable ride
- High scores in crash safety tests
- Fuel efficient
- All-wheel drive
- TRD Trim model
- Android Auto on all models
- Family-friendly features
The MSRP of the car is between $24,425 - $35,130, varying by your choice of model and financing options are available.
Toyota RAV4
Available in six trim levels, the RAV4 ranks at the top half of the list of compact SUV cars for 2020. New upgrades include a powerful TRD engine, bolder styling, and additional safety features.
- Plenty of space for cargo and rear passengers
- Advanced driver-assistance and safety features
- Android Auto integration
- Smooth ride
- Easy-to-use controls
- Fuel efficient
- 203 HP 2.5 liter four-cylinder engine
Priced between $25,950 - $36,400, the RAV4 has multiple trim levels that make it a good choice for everyone. Financing options are available.
Toyota Highlander
The 2020 Highlander and Highlander Hybrid are great options in the mid-size, SUV car segment. These models have an updated style and come with a lot of features, even at the base level.
- Ample cargo space
- Roomy seats
- Gasoline V-6 and hybrid 4-cylinder engines
- Driver assistance and safety features
- Upscale interior design
- Above-average fuel economy
- Apple CarPlay, Android Auto, and Amazon Alexa compatibility
With an MSRP tag ranging between $34,600 - $48,800, this is a great choice if you’re looking for a mid-size, SUV souped-up with features. Financing options are available as well.
Loan Options
If you’re looking to get a new car and have a good credit rating, it’s best to apply for financing from a bank or a credit union as you'll get lower rates. For instance, if you apply for pre-approval with Carvana, you can qualify without a hard credit check.
If you want to compare multiple lenders, LendingTree can help you get the best rates. Based on your credit ratings and other factors, the platform will connect you to the best lenders. Moreover, if you’re looking to refinance an existing loan, check out OpenRoad Lending. If you meet the eligibility criteria, you can get an extremely good rate.
Bottom Line
When it comes to choosing a car model, always opt for the one that fits your budget and requirements. By doing your due diligence and researching various online lenders and their offers, you’ll be able to close the best rates and drive your Toyota out of the lot in no time.
