Toyota is reportedly having great success
giving away money with their 0% loans. According to Bob Carter, general manager of the Toyota Division, the "Saved by Zero" ad campaign is building traffic and may be renewed when the program expires on November 3 (of course, he won't tell us now because that may slow traffic down again). Dealerships are reporting an increase in sales leads due to the no-interest financing, and the drastic sales declines in September seem to have eased-off a bit so far this month. The 0% financing is only good on 36-month loans making payments a bit steep for first-timers (longer terms also get reduced rates, but not the 0%). This is causing some dealers to ask for more rebates on Toyota cars and trucks in lieu of the aggressive financing -- the rebates are helpful as the cash incentives often provide customers with the down payments needed to originate the sales in the first place.
[Source: Automotive News, subs. req'd]