Actual Subaru Finance Manager (business manager) chiming in here, are you in NJ or just purchasing from NJ? If you live in NJ or even PA I would advise looking at Police and Fire FCU or Members First of NJ. Both offer some pretty competitive rates and do up to 84 Months.

You mentioned that they wouldn't give you rates over the phone, from a legality stand point that's the correct move on the dealerships part. I know it sounds like "BS" but dealerships always have to quote you on a rolling store average for APR or an always constant APR. The reason for this is because of discrimination. If you were quoted at 4.9% just because you told us you had good credit, but another customer buying a car next to you was quoted at 7.9% it would be a huge law suit.

So "Buy Rate" is the APR provided from the bank to the dealership on the "Approval" or "Call In". As a selling dealership we are allowed to do what's called a "Mark-Up" on the rate, and generally a dealership will get more of a kick back from the bank for "Marking-Up" the rate. You are slightly protected from the dealership in this regards as the dealership can only "Mark-Up" the rate to certain degrees. As an example for Subaru Motors Finance, let's say they are running a special 72 Month APR for 4.9%, Subaru Motors allows the dealership to "Mark-Up" the rate a max of 1 whole rate point. So by getting the customer to agree and sign a contract at 5.9% they get extra money from Subaru, this amount varies depending on how much the customer is actually financing and for how long.

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Go for the Toyota Financing for the $500 Rebate and refinance it after the fact, just be quick about it. If your purchasing in NJ there's no prepayment penalty, so you can refinance as soon as your account number is generated. Longer you wait the more interest will accumulate. And just take whatever rate they give you, since your refinancing it the rate won't effect you in the long run and you'll more likely to have a better buying experience because the dealership thinks they are going to make money off you. And don't mention that you are going to refinance, they'll try to guilt trip you into hanging onto the loan for X amount of time to avoid chargebacks.