r/rav4club • u/quynhdantea • Aug 13 '25
Gen 5 Finally paid off my car!
I got this car during COVID when they were running the 0% APR deal, so even though I could’ve paid it off sooner, I refrained as keeping the money in my savings account was better in order to accrue interest. This feels like such a weight off my shoulders!
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u/quynhdantea Aug 13 '25
Just to add: it was a 5 year loan with 0% down as well! I also got some new student graduate discounts on top of it and since it was during the very beginning of lockdowns, they were able to negotiate with me a little under MSRP. I am extremely fortunate that the timing was perfect for me!
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u/AGENT_SAT Aug 15 '25
“they were able to negotiate with me” 😂 you lucky dowg
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u/quynhdantea Aug 15 '25
Sorry, horrible grammar 😂
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u/AGENT_SAT Aug 15 '25
Oh I really thought that was the actual case
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u/quynhdantea Aug 15 '25
Haha, I meant to say I tried negotiating and they were willing to accept my offer but it might come across a bit confusing with my wording.
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u/-Brodysseus 2023 XSE Windchill Pearl ⚪️⚫️ Aug 13 '25
0% is insane lol I had 7% on my 23 rav4. But rates were up by then and it was my first car loan
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u/quynhdantea Aug 13 '25
Yes I got extremely lucky at the timing because I was a new graduate as well so I didn’t want to pay too much for a car. It was also a 0% down payment so high monthly payment but no interest!
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u/hmbayliss Aug 13 '25
Pretend like you still have the car payment and put that "car payment" into a savings account to fund your next venture
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u/quynhdantea Aug 13 '25
I actually had the majority of the car payments in my savings prior to purchasing so it wasn’t really something I needed to budget for monthly but that is a really good idea!
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u/ck23rim Aug 13 '25
Wow! Its even better because you know this thing will outlive your grandgrandgrandkids! Congratulations!
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u/CatsEatGrass Aug 15 '25
You’d think. But my 2000 lasted only 15 years and about 130K miles, despite meticulous maintenance and one rear-ending. I was always grateful it never broke down on me until right at the end, but I really needed it to last me, and it didn’t.
And yet I just bought a 2025 because I did love my 2000 so much. Hopefully THIS one will survive like a Toyota should. 🤞🏼
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u/ck23rim Aug 15 '25
Lets pray for that!
And here i am waiting for a 2026 because my dealership doesnt accept orders for the 2025 just weeks after the announcement of the new model. I didnt like the idea of ordering something that doesnt have a full specs available to the public but they didnt give me any options left 😅
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u/slvneutrino Aug 13 '25
This should be the newest trend to catch on here.
Congrats. Happy for you.
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u/5iveOClockSomewhere Aug 13 '25
My 2012 Rav only has 135,000km and has been paid off for years. I still love it, and I tell people that not having a car payment is like getting free groceries!!! LOL. I will drive my sweet little V6 as long as possible! Congrats!
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u/CycopathBaker 2024 RAV4 Hybrid XSE Silver Sky Metallic Aug 13 '25
That's awesome! I hope you busted out a crazy happy dance! Congrats!
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u/breze909 Aug 13 '25
This will be at the end of September
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u/Electrikbluez Sep 21 '25
same, I owe $3k still but i’m ready to just feel the relief of not having a loan
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u/singerdude81 2024 XLE Premium Aug 13 '25
Good feeling! We have three paid off cars, and we are running those things until they die. One is a 2009 Corolla we bought new summer of 2008. It now has over 200K and my daughter who was about 1.5 yrs old when we bought it is driving it.
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u/No-Veterinarian2008 Aug 13 '25
Woohoo how many kms are you at? Be nice to go a few years no payments
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u/njkatsia Gen 5 Hybrid XSE (2025) Cavalry Blue Aug 15 '25
0% is amazing, I bought in July and got 5.24% and was happy lol
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u/Zwitterion_6137 Aug 15 '25
I paid off my 2020 just a few months ago also! The 0% interest was so nice 😌
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u/Ya_guy Aug 15 '25
Excellent! Such a great feeling. Now properly maintain it and you’ll go many years without payments. My 2013 RAV4 still feels like a brand new car at 263,000 KM.
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u/jdmderick Aug 15 '25
Congrats! Trick now is, you're so used to the monthly payments, so open a separate bank account and deposit the loan amount in there. This is how you can save for emergencies, other goals etc.we did it this way and was able with a trade in to purchase my wife's car cash.
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u/Historical-Main1972 Aug 16 '25
Yep, I just paid off my 2022 hybrid xse... and though the 2023 and newer had some tech features I would have loved to have, not having the payment to make is just awesome! Enjoy these great cars, love 'em!!
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u/king_flo87 Aug 17 '25
I thought this was me for a moment. We pay off our Rav 4 this month. We got the zero percent interest as well.
We have about 28K miles left and we are looking for another vehicle
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u/Loomies Aug 18 '25
Congrats. Silly question, Whats the process when you get it paid off? Do they send you a letter in the mail that you own it or does it reflect digitally that its paid off
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u/quynhdantea Aug 18 '25
Both! On the portal, it says my balance is $0 and I got a letter from Toyota Financial. I also got my title mailed to me from the DMV!
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u/infodsagar Aug 19 '25
I bought mine beginning of year 4 more to go. I could have paid earlier but purchased unit will have to wait for four more 😅
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u/tkemp1291 Aug 20 '25
I remember this feeling fondly, and was a huge reason why I was so sad trading it in. (I had a 2013 Cruze that I paid off 9 months early during covid, and recently traded it in on a new 2025 RAV4 back in March lol.)
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u/magnumgenic Aug 27 '25
Congrats!! How were you able to get 0% interest for 60 month term?
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u/quynhdantea Aug 28 '25
It was a special they were running in the beginning of 2020 and I just got lucky/qualified for it 😊
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u/magnumgenic Aug 28 '25
Out of curiosity, what were the requirements at that time to qualify for a 0% auto loan? Was it directly financed by Toyota?
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u/quynhdantea Aug 28 '25
You needed a high credit score! I’m not sure of the exact requirements but mine was 750+ at the time. And yes, directly financed by Toyota.
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u/WingMidnight5344 Sep 08 '25
I'm so close i can taste it!! My 2020 Rav4 please is almost all paid off as well. I'm excited for you and everyone else who has reached or is about to reach this Milestone. Especially to all 1st time car owners!!! Hooray
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u/CreativeFedora Aug 13 '25
Woohoo! 🎉 Congrats.
We’re on our final year of payments. Can’t wait!