Toyota announces 0% financing on 11 models

[Good Times]

A sign of rough times ahead.



PRESS RELEASE:

Toyota Announces Zero-Percent Offer

TORRANCE, Calif., Oct. 2, 2008 - Toyota Motor Sales (TMS), U.S.A., Inc., today announced a zero-percent interest rate offer on eleven Toyota models for qualified buyers. Expiring November 3, 2008, the loan offer varies by model, with terms ranging from 36 to 60 months.

Taking aim at the credit squeeze which has sidelined many of today's new-car buyers, the attractive offer is unprecedented for Toyota.

"Not only do we have the inventory of today's sought after fuel-efficient models, but we have the capacity through Toyota Financial Services to finance or lease them," said Toyota Division General Manager Bob Carter.

The Toyota models qualifying for this offer are: Matrix, Corolla, Camry, RAV4, Highlander, FJ Cruiser, 4Runner, Sequoia, Sienna, Tacoma and Tundra.

[Whitey]

"taking aim at the credit squeeze" is complete B.S. because it's only going to be the folks with perfect credit that qualify anyways.

[Good Times]

you reward the individuals that are smart enough to hold great credit while you deny those that don't know how to control their spending. the problem we face is that we had many individuals who purchased beyond their purchasing power causing this economic mess. auto dealerships are experiencing the same pain so I'm not surprised they're trying to attract those with $$ to buy their products.

[Whitey]

you reward the individuals that are smart enough to hold great credit while you deny those that don't know how to control their spending. the problem we face is that we had many individuals who purchased beyond their purchasing power causing this economic mess. auto dealerships are experiencing the same pain so I'm not surprised they're trying to attract those with $$ to buy their products.

This much is obvious. What I'm saying is that this incentive isn't going to create a huge influx of new business, when it's only a handful of those that walk through the door that qualify. It will convince some who are on the fence about buying, but 0% for 36 months on some cars isn't going to sell too mant people, IMO.

[Good Times]

Indeed it won't bring a big rush of buyers but it will give enough of an incentive for those that were considering buying but are holding off because of the difficult market. Being able to buy a Toyota at 0% is pretty amazing if you ask me as you rarely see something like this happen (esp on many of the popular vehicles).

The other angle is that it'll at least bring in those that aren't the "perfect" credit to step in the doors of the dealership and window shop. It can still spur impulse buying from it.

Bummer the LC isn't in the mix (not that I'd be able to afford any of the Toyota line doh!)

[YotaFun]

Bummer the LC isn't in the mix (not that I'd be able to afford any of the Toyota line doh!)


Yeah, huge bummer, step dad is due for a new truck and he wanted to get the LC