That's right but there are also lots of words that are absolutely different or words that sound similar and mean different things. If the grammar may be simpler in Estonian then pronounciation and the gradation system is certainly more difficult.
What comes to the contacts of Finnic peoples to Turkic peoples, one period could be the old State of Bulgars on Volga river (where now the Chuvash live). There was a waterway from Baltic Sea to Volga. Old coins from Arabia have been found in Estonia from that period.