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Motor 1
6 days ago
- Automotive
- Motor 1
‘This Should Be Illegal': Customer Gets Approved for 2024 Jeep Wrangler. Then An Expert Exposes the Reality of Financing
Some people buy a house. Others, apparently, buy a Jeep Wrangler with a seven-year loan and enough interest to make an accountant run screaming for the hills. A TikTok clip from the descriptively named creator I'm Just A Finance Guy (@imtheautofinanceguy) shows how outrageous financing deals can get these days, especially for those with bad credit scores. The video, which has been watched more than 290,000 times, zooms-in on the paperwork of a Truth in Lending Disclosure for a 2024 Jeep Wrangler that might just be the most expensive base model in recent memory. The financing terms feel more like a cautionary tale than a dealership win: Loan amount: $74,599 Finance charge (interest): $56,931.56 APR: 17.69 percent Term: 84 months (that's 7 years) Monthly payment: $1,565.84 Odometer reading: 860 miles The paperwork shows a total repayment of $131,530.56, or the cost of a house in small-town Ohio, all for a Jeep with less than 1,000 miles on the odometer. If that's not gruesome enough, let's break it down further: $1,565.84/month × 84 months = $131,530.56. That's over $56,000 in interest paid over the life of the loan. At 17.69% APR, the buyer ends up shelling out nearly double the Jeep's sticker price by the time it's paid off. You could make the same payments on a 15-year mortgage in parts of the country. According to Zillow, the median home price in Toledo, Ohio is just under $130,000 . More Jeep Stories From Motor1 The Jeep Cherokee Is Back The Best Performance Cars of 2025 (So Far) The New Gas Jeep Compass Is Strictly Front-Wheel Drive The Recon Will Be Jeep's 'New Defender,' Says Exec Every Three-Row SUV You Can Buy in 2025 Here's Your First Look at the 2026 Jeep Grand Cherokee The Jeep Wrangler Willys 41 Edition Rules. But There's One Big Catch 2026 Jeep Compass Unveiled: Hybrid or EV With Up to 375 HP While it's tempting to treat this loan as an outlier, it's more of a warning sign. In 2025, the average APR for a new car loan in the U.S. sits between 7 and 9 percent, depending on the borrower's credit score. A 17.69-percent rate suggests a borrower in a deep subprime category or someone who secured financing through a 'Buy Here, Pay Here' dealer known for predatory terms. And then there's the matter of the loan amount itself. A base model 2024 Jeep Wrangler typically starts around $35,000. Higher trims like the Rubicon can edge toward the $55,000 range with options. So, How Do We Get to Nearly $75,000? There are a few possibilities. The dealer may have loaded the vehicle with costly add-ons like extended warranties, off-road packages, or appearance upgrades that look good on paper and pad profit margins. It's also possible the buyer traded in a previous vehicle with negative equity, rolling the unpaid balance into the new loan. And in many cases, high-interest loans like this are pitched to buyers who are told it's their 'only option,' a favorite tactic of high-risk financing outfits. Whatever the case, it's a tough look. Seven years is a long time to pay off a car, especially one that may see some serious depreciation before it's halfway through the loan term. The Rise in Long-Term, High-Interest Auto Loans Is Becoming a Serious Financial Concern According to the CFPB, Americans now carry over $1.6 trillion in auto loan debt, and loan terms of 72 to 84 months are increasingly common, even though they often leave buyers "underwater" on their loans for most of the repayment period. Financial advisors generally recommend: Keeping loan terms under 60 months, avoiding APRs over 6–7 percent unless necessary, and never financing add-ons or extended warranties unless you've calculated the long-term cost. There's no indication on the term sheet of who the dealer or financier was for the proposed loan, but commenters on the clip were ready to grab their pitchforks and torches in outrage. 'This should be illegal. Someone tag the repo man!' one of them wrote. Another offered that the proposed deal is another example of buyers being preyed upon: 'In case anyone wondered why we need a consumer protection agency. These loans should be criminal.' And another wasn't feeling great about the idea of making a mortgage payment for a depreciating asset on wheels, writing, 'I'm not paying $131k for anything except a house and I'd do that extremely reluctantly.' Motor1 reached out to the creator via direct message and to Jeep/Stellantis via email. If we hear back, we'll be sure to update this article. Now Trending 'Missed My Bonus By One': Dodge Salesman Says May Was Terrible For Sales. Here's Why Kia Mechanic Says Even a 5-Year-Old Can Fix This Common Issue Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Yahoo
06-05-2025
- Automotive
- Yahoo
Toyota Financial Services Instagram Goes Live--And It's Anything But Ordinary
PLANO, Texas, May 6, 2025 /PRNewswire/ -- Things are about to get reels good, reels fast. Toyota Financial Services Instagram Goes Live—And It's Anything But Ordinary Toyota Financial Services (TFS) is flipping the script on auto finance storytelling with the launch of its brand-new Instagram® channel—a fresh, immersive, and unexpected take on the digital customer experience. In a world where billions of users scroll through social media channels daily, TFS Instagram (@toyotafinancial) is carving out a unique space, where auto finance meets creativity to reimagine financial storytelling. PERSONIFYING OUR PRODUCTS With Instagram's cutting-edge creative tools, TFS is embracing a new era of brand engagement that goes beyond the expected. What's ahead? Reels that feel more like entertainment than education—but deliver both Videos that help viewers de-stress while learning about lease-end options Content that turns financial terminology into a sensory experience Tutorials that unfold the benefits of smart auto financing At TFS, we're not just talking at our audience—we're immersing them in unexpected, unforgettable experiences. MORE REACH. MORE ENGAGEMENT. The expansion to Instagram—alongside our existing TFS Facebook presence—amplifies our ability to connect with a younger, more engaged audience looking for brands that inform, entertain, and inspire. Through our signature content approach, we'll bring to life: Products & Services – Made simple, engaging, and interactive Customer Care & Support – With content that meets people where they are Loyalty & Lifestyle Moments – Celebrating the joy of Toyota ownership like never before FUELING DEALERSHIPS WITH SOCIAL POWER Through Toyota Social Publishing, Toyota dealers can now opt in—at no cost—to receive ready-to-post TFS social content that can be customized and shared directly on dealership feeds. This powerful tool ensures that TFS storytelling extends beyond a single channel—becoming part of the larger Toyota ecosystem. JOIN THE MOVEMENT Toyota fans, dealers, team members, and partners are invited to follow @toyotafinancial on Instagram and be part of a movement that's redefining what it means to engage with financial services. This isn't just another Instagram page—it's a whole new way of thinking. Buckle up, because this is just the beginning. ©2025 Toyota Motor Credit Corporation d/b/a Toyota Financial Services. All rights reserved. Toyota Financial Services is a service mark used by Toyota Motor Credit Corporation (TMCC). Retail installment accounts may be owned by TMCC or its securitization affiliates and lease accounts may be owned by Toyota Lease Trust (TLT) or its securitization affiliates. TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization affiliates.
