• Oct 3, 2008
Further proof that no automaker is immune to effects of the sales downturn in the U.S. comes as Toyota has just announced 0 compared to a year ago and the rest of the year isn't expected to look much better. General Motors, which still posted a decline in sales, fared better than most of its rivals, including Toyota, thanks to aggressive incentives including its employee pricing for everyone.

Toyota itself is calling the move to offer 0% financing "unprecedented," and indeed it is. Historically, the Japanese automaker has not needed to offer such sweeping deals to move its metal. It apparently has the cars, the means to finance them and just needs buyers. If you want in on the deal, it's available until November 3. See the full press release from Toyota for more details after the break.

[Source: Toyota]

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.


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  • 29 Comments
      • 6 Years Ago
      I remember a line in the Matrix "people define their existence by their misery". Cars that people find "boring" are usually the ones that just work. Get in, the controls are where you expect them to be. The car runs find without problems.... i guess that's boring. The cars that people love tend to be the ones that they make excuses for quality, reliability, etc. Odd...
        • 6 Years Ago
        You can go ahead and turn in your man card now. This site is for people that love cars, not transportation appliances.
      • 6 Years Ago
      The crisis is toyota's fault for years of mediocre vehicles to be quite honest.
      • 6 Years Ago
      Personally, I would be scared if automakers offered negative APR financing.

      How would -1.9% sound?

      What?! Can't a guy dream once in a while?


        • 6 Years Ago
        Negative rates? That's actually not a bad marketing idea. Given that some trucks are having incentives close to $10,000, It probably comes close to 1.9% a year over 5 years.
      • 6 Years Ago
      Can we start a 0% offer list. I know GM, Chrysler, VW offers it. Who else?
      • 6 Years Ago
      If anyone needs me, I will be hiding under a rock waiting for the apocalypse.
        • 6 Years Ago
        "Best avatar ever"

        +1
        • 6 Years Ago
        Best avatar ever
      • 6 Years Ago
      Bad times are here. My brother works for Toyota and he told me he is hearing that they will be discontinuing the FJ Cruiser after the '09 model year. They are looking at a major revamp of their lineup after 2010.
      • 6 Years Ago
      Holy balls, they MIGHT be able to come out of a sales slump with 0% financing.
      • 6 Years Ago
      Worldwide economic collapse.
      Ain't I fun?
      • 6 Years Ago

      With the credit mess going on I bet you have to have at least a 800 beacon to even be considered for 0%.

      But the 0% offer will get some traffic on the floor and that's all this is about.

      I bet the overall percentage of vehicles financed at 0% will be under 5%.
      • 6 Years Ago
      Let me know once Big 2.5 best Toyota's offering with a negative interest rate financing. I'll buy a couple of cars then.
        • 6 Years Ago
        Negative financing is already here folks. Ever here of 0% plus rebate?
      • 6 Years Ago
      0% on top quality boredom. You can have mine.
      • 6 Years Ago
      I'm very worried. I don't get this. Toyota makes very nice cars.
        • 6 Years Ago
        Perhaps it's because their whole marketing campaign is that 'smart people buy Toyotas' and right now smart people are playing 'wait and see'? The pitfall of making your whole brand about sensibility.
        • 6 Years Ago
        What Toyota needs is a good enema, because they are full if it.
        • 6 Years Ago
        Yes... nice, but boring as hell. I drove a toyota camry from high school through college. It'll get you around, but thats about it. Toyota needs a halo car, and not a extremely expensive one either. Honda has the S2000, so why can't toyota bring back a turbo I-4 supra? Keeps the gas mileage high, and it can still pump out near 300HP.
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