Any experience with Toyota Income Driver Notes?
Re: Any experience with Toyota Income Driver Notes?
From previous posts in this thread, it appears that a number of entities are issuing notes like these. Companies mentioned upthread include Ford, GM, Mercedes, and Dominion Energy, plus Toyota.
Does anyone know of a source that lists most, if not all, of the companies issuing such notes? I can’t find one online, but maybe I just haven’t looked in the right place.
It would sure be interesting to compare and contrast the offerings of multiple companies. Given the interest rate paid and credit rating of TMCC, I expect that the Toyota notes will look strong. But another entity might be as good or better. I just don’t know where to look to find them.
Does anyone know of a source that lists most, if not all, of the companies issuing such notes? I can’t find one online, but maybe I just haven’t looked in the right place.
It would sure be interesting to compare and contrast the offerings of multiple companies. Given the interest rate paid and credit rating of TMCC, I expect that the Toyota notes will look strong. But another entity might be as good or better. I just don’t know where to look to find them.
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Re: Any experience with Toyota Income Driver Notes?
Stinky,
Here is the GM site. I happened to know this because I know people who work for GM.
https://www.rightnotes.com/
Regards,
Here is the GM site. I happened to know this because I know people who work for GM.
https://www.rightnotes.com/
Regards,
If liberty means anything at all it means the right to tell people what they do not want to hear. -George Orwell
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Re: Any experience with Toyota Income Driver Notes?
I just got an email from Toyota approving my note. Timeline as follows...
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Scheduled “Next Execution Date” for ACH transfer of initial investment
I don’t know why they’re going to wait until March 8th to pull the funds from my savings account, but it doesn’t matter to me. I’m surprised that they approved it so quickly. My FICO score has been between 825 and 850 for many years, if that has anything to do with it.
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Scheduled “Next Execution Date” for ACH transfer of initial investment
I don’t know why they’re going to wait until March 8th to pull the funds from my savings account, but it doesn’t matter to me. I’m surprised that they approved it so quickly. My FICO score has been between 825 and 850 for many years, if that has anything to do with it.
Your attitude about risk changes significantly when the bear begins to maul you.
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Re: Any experience with Toyota Income Driver Notes?
Strange. I received my approval email yesterday. My account shows zero balance. Where do you see the Next Execution Date information?RetiredNewbie wrote: ↑Thu Mar 04, 2021 9:33 pm I just got an email from Toyota approving my note. Timeline as follows...
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Scheduled “Next Execution Date” for ACH transfer of initial investment
I don’t know why they’re going to wait until March 8th to pull the funds from my savings account, but it doesn’t matter to me. I’m surprised that they approved it so quickly. My FICO score has been between 825 and 850 for many years, if that has anything to do with it.
We plan. G-d laughs.
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Re: Any experience with Toyota Income Driver Notes?
You need to follow the link in the welcome email to complete the enrollment. After that, you will be able to see "Next Execution Date".MishkaWorries wrote: ↑Thu Mar 04, 2021 10:18 pmStrange. I received my approval email yesterday. My account shows zero balance. Where do you see the Next Execution Date information?RetiredNewbie wrote: ↑Thu Mar 04, 2021 9:33 pm I just got an email from Toyota approving my note. Timeline as follows...
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Scheduled “Next Execution Date” for ACH transfer of initial investment
I don’t know why they’re going to wait until March 8th to pull the funds from my savings account, but it doesn’t matter to me. I’m surprised that they approved it so quickly. My FICO score has been between 825 and 850 for many years, if that has anything to do with it.
My signature has been deleted.
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Re: Any experience with Toyota Income Driver Notes?
It has changed. When I logged in last night after receiving my approval email, it was on the home page. This morning it's no longer there. Now to see it I have to click on the "View History" link on the home page, and then select "All Pending Transactions". Then this pops up...MishkaWorries wrote: ↑Thu Mar 04, 2021 10:18 pm Strange. I received my approval email yesterday. My account shows zero balance. Where do you see the Next Execution Date information?
03/08/2021 ELEC INVEST ORIG - INITIAL ACH INVESTMENT $1,000.00
Your attitude about risk changes significantly when the bear begins to maul you.
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Re: Any experience with Toyota Income Driver Notes?
I believe the ACH cut-off time is 7.30am CT. So once that time passes, it moves into pending status.RetiredNewbie wrote: ↑Fri Mar 05, 2021 7:59 amIt has changed. When I logged in last night after receiving my approval email, it was on the home page. This morning it's no longer there. Now to see it I have to click on the "View History" link on the home page, and then select "All Pending Transactions". Then this pops up...MishkaWorries wrote: ↑Thu Mar 04, 2021 10:18 pm Strange. I received my approval email yesterday. My account shows zero balance. Where do you see the Next Execution Date information?
03/08/2021 ELEC INVEST ORIG - INITIAL ACH INVESTMENT $1,000.00
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Re: Any experience with Toyota Income Driver Notes?
I'm seriously considering rolling some CD $$ maturing next month into this fixed income vehicle (pun intended). Although riskier than an FDIC insured product, or state-insured MYGA, it probably falls between the two relative to risk and reward, with acceptable liquidity as well.
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Re: Any experience with Toyota Income Driver Notes?
Can anyone else get on the website? I've tried from my laptop and my mobile and I just get the timed out error message. I confirmed their server is down.
Can't say the clunkiness of the website is making my feel secure. I do like the simplicity of their site, I just wish it was more user friendly.
Maybe all the Bogleheads are rushing to put in their cash and it made the site crash
Can't say the clunkiness of the website is making my feel secure. I do like the simplicity of their site, I just wish it was more user friendly.
Maybe all the Bogleheads are rushing to put in their cash and it made the site crash
We plan. G-d laughs.
Re: Any experience with Toyota Income Driver Notes?
The website worked for me early this morning. And it's working right now - just checked.MishkaWorries wrote: ↑Fri Mar 05, 2021 9:32 am Can anyone else get on the website? I've tried from my laptop and my mobile and I just get the timed out error message. I confirmed their server is down.
Can't say the clunkiness of the website is making my feel secure. I do like the simplicity of their site, I just wish it was more user friendly.
Maybe all the Bogleheads are rushing to put in their cash and it made the site crash
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Re: Any experience with Toyota Income Driver Notes?
The website worked for me just now, but I notice some sluggishness earlier today.
"I started with nothing and I still have most of it left."
Re: Any experience with Toyota Income Driver Notes?
Similar timeline for me:RetiredNewbie wrote: ↑Thu Mar 04, 2021 9:33 pm I just got an email from Toyota approving my note. Timeline as follows...
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Scheduled “Next Execution Date” for ACH transfer of initial investment
3/3/21: Applied for account
3/5/21: Received e-mail approving note
3/9/21: Scheduled “Next Execution Date” for ACH transfer of initial investment
It appears that the timeline is 2-3 days for approval and 6-7 for funding. It is not clear why there is a delay in funding from approval.
Re: Any experience with Toyota Income Driver Notes?
I can definitely say that fundings after the initial one move a lot faster.gjlynch17 wrote: ↑Sat Mar 06, 2021 9:05 amSimilar timeline for me:RetiredNewbie wrote: ↑Thu Mar 04, 2021 9:33 pm I just got an email from Toyota approving my note. Timeline as follows...
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Scheduled “Next Execution Date” for ACH transfer of initial investment
3/3/21: Applied for account
3/5/21: Received e-mail approving note
3/9/21: Scheduled “Next Execution Date” for ACH transfer of initial investment
It appears that the timeline is 2-3 days for approval and 6-7 for funding. It is not clear why there is a delay in funding from approval.
See my post above for timelines on subsequent fundings, withdrawals, and interest credited. Link follows:
viewtopic.php?p=5853157#p5853157
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Re: Any experience with Toyota Income Driver Notes?
They are both administered by BNY Mellon. That’s their website, which is only so, so.indexfundfan wrote: ↑Thu Mar 04, 2021 7:47 am I just noticed that both Toyota Income Driver and GM RightNotes are administered by www.eaccountservices.com. So they look to have very similar online features.
The other thing I note is that GM is also paying 1.5%. So hopefully that encourages Toyota to maintain the same 1.5% rate to stay competitive with GM.
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Re: Any experience with Toyota Income Driver Notes?
Timeline update...
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Initial Investment deducted from savings account
3/9/21 Initial Investment credited to account
3/1/21 Applied for individual account
3/4/21 Received email approving note
3/8/21 Initial Investment deducted from savings account
3/9/21 Initial Investment credited to account
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Re: Any experience with Toyota Income Driver Notes?
Has anyone been able to link their Toyota IncomeDriver Notes account to an aggregator, such as Personal Capital? If so, what did you use as the financial institution when setting up the link?
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Re: Any experience with Toyota Income Driver Notes?
Has anyone been able to use the website to check their balance and account details? I was able to register on the website and set up initial funding, but I have not been able to login after that since last week to check the details
Re: Any experience with Toyota Income Driver Notes?
Website works just fine for me. Just now logged in, and everything is in proper order.stay_the_course wrote: ↑Mon Mar 15, 2021 1:58 pm Has anyone been able to use the website to check their balance and account details? I was able to register on the website and set up initial funding, but I have not been able to login after that since last week to check the details
It seemed that I was having some problems early on with getting onto the site - before my initial funding had cleared and posted. At that time, I learned that I had click on the link in the most recent "confirmation" email to get in.
That workaround disappeared now that my account is fully open, and funded with both initial and subsequent deposits. Plus one teensy withdrawal just to check it out.
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Re: Any experience with Toyota Income Driver Notes?
Well I'll be... I just tried the link from the email and that did work. Thanks for the tip!Stinky wrote: ↑Mon Mar 15, 2021 2:02 pmWebsite works just fine for me. Just now logged in, and everything is in proper order.stay_the_course wrote: ↑Mon Mar 15, 2021 1:58 pm Has anyone been able to use the website to check their balance and account details? I was able to register on the website and set up initial funding, but I have not been able to login after that since last week to check the details
It seemed that I was having some problems early on with getting onto the site - before my initial funding had cleared and posted. At that time, I learned that I had click on the link in the most recent "confirmation" email to get in.
That workaround disappeared now that my account is fully open, and funded with both initial and subsequent deposits. Plus one teensy withdrawal just to check it out.
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Re: Any experience with Toyota Income Driver Notes?
Ye olde GMAC Demand Notes (from before the bankruptcy) came with a checkbook and honored ACH pulls. One could then pay credit card bills from the account, making it effective and convenient for cash management. But I bailed on that when the storm-clouds for GM appeared on the horizon (well, maybe when it started to drizzle), and Ally (neé GMAC) has since ended the program.
These new Toyota and GM demand accounts appear to be clones of the old GMAC program (I think the BNY Mellon also managed the old GMAC account), but minus the checkbook. New GM Right Notes claims to support direct deposit. Has anyone tried to initiate an ACH push/pull to/from these accounts from another institution?
These new Toyota and GM demand accounts appear to be clones of the old GMAC program (I think the BNY Mellon also managed the old GMAC account), but minus the checkbook. New GM Right Notes claims to support direct deposit. Has anyone tried to initiate an ACH push/pull to/from these accounts from another institution?
Re: Any experience with Toyota Income Driver Notes?
What is this maintenance fee of $250? Is that a fee they take annually?SpaceCowboy wrote: ↑Tue Mar 02, 2021 7:40 pm I've completed my enrollment, initial deposit and additional transfers.
I think this is a really good offering in the current interest rate environment.
A couple of items. With the Mercedes version, MBFS, you have to be an accredited investor and the minimum for a fee free note is much higher. Toyota only requires US citizenship and SSN. Minimum is $500 to open and $250 maintenance.
You are only permitted to link one bank account, so make sure to use your main checking or a good online hub account like Ally, which allows a large number of linked accounts.
I just wonder is the interest rate premium will last.
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Re: Any experience with Toyota Income Driver Notes?
No, you must maintain a $250 balance. Not a maintenance fee.anonsdca wrote: ↑Sun Mar 28, 2021 1:35 pmWhat is this maintenance fee of $250? Is that a fee they take annually?SpaceCowboy wrote: ↑Tue Mar 02, 2021 7:40 pm I've completed my enrollment, initial deposit and additional transfers.
I think this is a really good offering in the current interest rate environment.
A couple of items. With the Mercedes version, MBFS, you have to be an accredited investor and the minimum for a fee free note is much higher. Toyota only requires US citizenship and SSN. Minimum is $500 to open and $250 maintenance.
You are only permitted to link one bank account, so make sure to use your main checking or a good online hub account like Ally, which allows a large number of linked accounts.
I just wonder is the interest rate premium will last.
Re: Any experience with Toyota Income Driver Notes?
That’s not a maintenance fee.anonsdca wrote: ↑Sun Mar 28, 2021 1:35 pmWhat is this maintenance fee of $250? Is that a fee they take annually?SpaceCowboy wrote: ↑Tue Mar 02, 2021 7:40 pm I've completed my enrollment, initial deposit and additional transfers.
I think this is a really good offering in the current interest rate environment.
A couple of items. With the Mercedes version, MBFS, you have to be an accredited investor and the minimum for a fee free note is much higher. Toyota only requires US citizenship and SSN. Minimum is $500 to open and $250 maintenance.
You are only permitted to link one bank account, so make sure to use your main checking or a good online hub account like Ally, which allows a large number of linked accounts.
I just wonder is the interest rate premium will last.
That’s the minimum account balance. I assume below that level they’ll close you out.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Re: Any experience with Toyota Income Driver Notes?
Got it! Thank you both!Stinky wrote: ↑Sun Mar 28, 2021 1:38 pmThat’s not a maintenance fee.anonsdca wrote: ↑Sun Mar 28, 2021 1:35 pmWhat is this maintenance fee of $250? Is that a fee they take annually?SpaceCowboy wrote: ↑Tue Mar 02, 2021 7:40 pm I've completed my enrollment, initial deposit and additional transfers.
I think this is a really good offering in the current interest rate environment.
A couple of items. With the Mercedes version, MBFS, you have to be an accredited investor and the minimum for a fee free note is much higher. Toyota only requires US citizenship and SSN. Minimum is $500 to open and $250 maintenance.
You are only permitted to link one bank account, so make sure to use your main checking or a good online hub account like Ally, which allows a large number of linked accounts.
I just wonder is the interest rate premium will last.
That’s the minimum account balance. I assume below that level they’ll close you out.
Re: Any experience with Toyota Income Driver Notes?
I signed up today, got accepted but when I tried to log in, I just get a spinning circle. Not a good sign. I have received no emails from them saying "Hi welcome" type of thing.anonsdca wrote: ↑Sun Mar 28, 2021 1:55 pmGot it! Thank you both!Stinky wrote: ↑Sun Mar 28, 2021 1:38 pmThat’s not a maintenance fee.anonsdca wrote: ↑Sun Mar 28, 2021 1:35 pmWhat is this maintenance fee of $250? Is that a fee they take annually?SpaceCowboy wrote: ↑Tue Mar 02, 2021 7:40 pm I've completed my enrollment, initial deposit and additional transfers.
I think this is a really good offering in the current interest rate environment.
A couple of items. With the Mercedes version, MBFS, you have to be an accredited investor and the minimum for a fee free note is much higher. Toyota only requires US citizenship and SSN. Minimum is $500 to open and $250 maintenance.
You are only permitted to link one bank account, so make sure to use your main checking or a good online hub account like Ally, which allows a large number of linked accounts.
I just wonder is the interest rate premium will last.
That’s the minimum account balance. I assume below that level they’ll close you out.
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Re: Any experience with Toyota Income Driver Notes?
It takes a business day or two for them to approve you and send out the welcome email.anonsdca wrote: ↑Sun Mar 28, 2021 5:11 pmI signed up today, got accepted but when I tried to log in, I just get a spinning circle. Not a good sign. I have received no emails from them saying "Hi welcome" type of thing.anonsdca wrote: ↑Sun Mar 28, 2021 1:55 pmGot it! Thank you both!Stinky wrote: ↑Sun Mar 28, 2021 1:38 pmThat’s not a maintenance fee.anonsdca wrote: ↑Sun Mar 28, 2021 1:35 pmWhat is this maintenance fee of $250? Is that a fee they take annually?SpaceCowboy wrote: ↑Tue Mar 02, 2021 7:40 pm I've completed my enrollment, initial deposit and additional transfers.
I think this is a really good offering in the current interest rate environment.
A couple of items. With the Mercedes version, MBFS, you have to be an accredited investor and the minimum for a fee free note is much higher. Toyota only requires US citizenship and SSN. Minimum is $500 to open and $250 maintenance.
You are only permitted to link one bank account, so make sure to use your main checking or a good online hub account like Ally, which allows a large number of linked accounts.
I just wonder is the interest rate premium will last.
That’s the minimum account balance. I assume below that level they’ll close you out.
My signature has been deleted.
Re: Any experience with Toyota Income Driver Notes?
When you do get approved, click on the link in the welcome email to log in.indexfundfan wrote: ↑Sun Mar 28, 2021 5:14 pmIt takes a business day or two for them to approve you and send out the welcome email.
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Re: Any experience with Toyota Income Driver Notes?
Ok, I will wait. Thanks.Stinky wrote: ↑Sun Mar 28, 2021 5:39 pmWhen you do get approved, click on the link in the welcome email to log in.indexfundfan wrote: ↑Sun Mar 28, 2021 5:14 pmIt takes a business day or two for them to approve you and send out the welcome email.
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Re: Any experience with Toyota Income Driver Notes?
Interesting investment for all those that ask "should I take the 0% (or 0.9%) loan from TMCC" across this forum. If you are about to pay cash for your car - take the TMCC loan then invest the money back into TMCC.
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Re: Any experience with Toyota Income Driver Notes?
How are they making money?SmileyFace wrote: ↑Mon Mar 29, 2021 9:35 am Interesting investment for all those that ask "should I take the 0% (or 0.9%) loan from TMCC" across this forum. If you are about to pay cash for your car - take the TMCC loan then invest the money back into TMCC.
Re: Any experience with Toyota Income Driver Notes?
“ Called “variable denomination floating rate demand notes,” the securities are basically unsecured bonds, paid by the company’s cash from operations. There is no public market and investors can typically withdraw their money at will. Rates can be changed at any time by the company, which can call the securities at its discretion.”
“Financial advisers, however, often advise clients against tying up their money in one company. Those who rely on fixed-income payments as a form of income, such as retirees, should particularly avoid such concentration, says Larry Swedroe, chief research officer at Buckingham Strategic Wealth.
“I would want to buy a huge portfolio of hundreds of these so I wouldn’t have the idiosyncratic risk of Toyota,” he said. “The average investor buying this stuff is not going to be able to analyze the risk in each of these floating rate notes.””
https://www.wsj.com/articles/car-maker- ... 1605781801
“Financial advisers, however, often advise clients against tying up their money in one company. Those who rely on fixed-income payments as a form of income, such as retirees, should particularly avoid such concentration, says Larry Swedroe, chief research officer at Buckingham Strategic Wealth.
“I would want to buy a huge portfolio of hundreds of these so I wouldn’t have the idiosyncratic risk of Toyota,” he said. “The average investor buying this stuff is not going to be able to analyze the risk in each of these floating rate notes.””
https://www.wsj.com/articles/car-maker- ... 1605781801
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Re: Any experience with Toyota Income Driver Notes?
my naive guess is that perhaps they lose money on the financing but they make money by selling the cars. offering cheap finance can help more people buy new toyotas than would otherwise. perhaps TMCC is run at a loss, or perhaps TMCC is run at a small profit and also receives funding from other bits of toyota that make money by selling cars.anon_investor wrote: ↑Mon Mar 29, 2021 10:47 pmHow are they making money?SmileyFace wrote: ↑Mon Mar 29, 2021 9:35 am Interesting investment for all those that ask "should I take the 0% (or 0.9%) loan from TMCC" across this forum. If you are about to pay cash for your car - take the TMCC loan then invest the money back into TMCC.
Another angle is that over the last 10 years or so, toyota achieved an annual return on invested capital of something in the range from 1% to 6%. While this is not very large, it is usually better than 1.5% rate being offered to investors for these notes. So perhaps if Toyota accepts outside capital from the market to fund TMCC operations, they free up more of their own capital to use in other more profitable investments.
Re: Any experience with Toyota Income Driver Notes?
Neither the website nor the prospectus shows any limits on the amount of transfers.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Re: Any experience with Toyota Income Driver Notes?
That's all I needed to see, they could (and likely will) lower the rates at some point. Or in a few months 1.5% won't seem so great anyway.
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Re: Any experience with Toyota Income Driver Notes?
The referenced WSJ article says that TMCC was paying 2.0% for most of 2020, and then reduced the rate to 1.5% in November 2020. Of course the rate could go lower.
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Re: Any experience with Toyota Income Driver Notes?
I opened an account yesterday and funded. No note number yet.
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Re: Any experience with Toyota Income Driver Notes?
Does opening an account result in a hit to one’s credit score?
Re: Any experience with Toyota Income Driver Notes?
Not to mine.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
Of course, YMMV.
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Re: Any experience with Toyota Income Driver Notes?
Do you know if it’s considered a soft credit pull or hard pull?Stinky wrote: ↑Sun Apr 04, 2021 4:50 pmNot to mine.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
Of course, YMMV.
Re: Any experience with Toyota Income Driver Notes?
I follow my credit score via Credit Karma, which shows info from Equifax and Transunion. As of this afternoon, Neither shows a hard pull from TMCC. CK does not show soft pulls.Kookaburra wrote: ↑Sun Apr 04, 2021 4:55 pmDo you know if it’s considered a soft credit pull or hard pull?Stinky wrote: ↑Sun Apr 04, 2021 4:50 pmNot to mine.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
Of course, YMMV.
I have had my Notes account open for about six weeks.
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Re: Any experience with Toyota Income Driver Notes?
I have free credit monitoring from a hack. I get instant update when my credit is checked. I'm not sure if they report a soft credit check.Kookaburra wrote: ↑Sun Apr 04, 2021 4:55 pmDo you know if it’s considered a soft credit pull or hard pull?Stinky wrote: ↑Sun Apr 04, 2021 4:50 pmNot to mine.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
Of course, YMMV.
I opened my Toyota note account about a month or so ago. Nothing reported to me as a credit check.
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Re: Any experience with Toyota Income Driver Notes?
I got a CD coming up and been looking for a place to make a little more interest than CD these days. Looks a little risky to me but the whole market is risky.
Re: Any experience with Toyota Income Driver Notes?
I was able to open a note even with a credit freeze at all agencies.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
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Re: Any experience with Toyota Income Driver Notes?
Why would there be a credit check at all? You're lending them money not the other way around. If there's any credit checking it should be on TMCC.done wrote: ↑Fri Apr 09, 2021 3:17 amI was able to open a note even with a credit freeze at all agencies.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
Re: Any experience with Toyota Income Driver Notes?
Financing arms of auto companies are very, very, very, very profitable. The average buyer is not getting 0% or 0.9% financing, and leasing is especially lucrative.pseudoiterative wrote: ↑Tue Mar 30, 2021 3:08 ammy naive guess is that perhaps they lose money on the financing but they make money by selling the cars. offering cheap finance can help more people buy new toyotas than would otherwise. perhaps TMCC is run at a loss, or perhaps TMCC is run at a small profit and also receives funding from other bits of toyota that make money by selling cars.anon_investor wrote: ↑Mon Mar 29, 2021 10:47 pmHow are they making money?SmileyFace wrote: ↑Mon Mar 29, 2021 9:35 am Interesting investment for all those that ask "should I take the 0% (or 0.9%) loan from TMCC" across this forum. If you are about to pay cash for your car - take the TMCC loan then invest the money back into TMCC.
Another angle is that over the last 10 years or so, toyota achieved an annual return on invested capital of something in the range from 1% to 6%. While this is not very large, it is usually better than 1.5% rate being offered to investors for these notes. So perhaps if Toyota accepts outside capital from the market to fund TMCC operations, they free up more of their own capital to use in other more profitable investments.
Re: Any experience with Toyota Income Driver Notes?
All financial institutions are obligated to "Know Your Customer" through the PATRIOT act, TMCC is no exception. In most cases, that process defaults to running a credit check. How does Toyota know that you aren't whitewashing drug money? << rhetorical >>jpmorganfunds wrote: ↑Fri Apr 09, 2021 8:35 pmWhy would there be a credit check at all? You're lending them money not the other way around. If there's any credit checking it should be on TMCC.done wrote: ↑Fri Apr 09, 2021 3:17 amI was able to open a note even with a credit freeze at all agencies.Kookaburra wrote: ↑Sun Apr 04, 2021 4:48 pm Does opening an account result in a hit to one’s credit score?
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Re: Any experience with Toyota Income Driver Notes?
Thank you for the insight Ryzen. I'm curious to learn about how different industries or niches work -- can you suggest any article or report I can read to better understand the economics & business model of the auto financing business?
Re: Any experience with Toyota Income Driver Notes?
For those of you putting money here - how many notes do you have in your account?
I've got 1 note and when I transfer money in I add it to the existing note.
I notice that there is an option to create a "new enrollment" which I suspect would create a new note.
Is there an advantage to having multiple notes?
I've got 1 note and when I transfer money in I add it to the existing note.
I notice that there is an option to create a "new enrollment" which I suspect would create a new note.
Is there an advantage to having multiple notes?
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Re: Any experience with Toyota Income Driver Notes?
Is anyone having issues logging into their Income Driver Notes account?
Just spinning here!
Just spinning here!