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We have good news and bad news to report regarding Toyota's 0% financing deal that's currently going on in the U.S. The Japanese automaker must be seeing positive results from the operation, as it's extended the incentive through the month of November. That's the good news. The bad? This announcement likely means that we'll all need to put up with the excruciatingly horrible "Saved by Zero" commercials that have been infecting our TV screens these last few weeks. *Shudder*

For the month of October, Toyota saw its average daily sales rate drop 24%. While that's surely not the direction in which the automaker would like to see its sales slide, that figure is dramatically better than that of General Motors, it's largest rival in the U.S., which posted declines of around 45%. It may be a shallow victory, but it's apparently enough that these financing deals will remain in effect on 11 models through all of November.

[Source: The Detroit News]

Saved by Zero? Toyota extends 0% financing through November originally appeared on Autoblog on Tue, 04 Nov 2008 08:01:00 EST. Please see our terms for use of feeds.

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Further proof that no automaker is immune to effects of the sales downturn in the U.S. comes as Toyota has just announced 0% financing on 11 of its models, including the hugely popular Camry and Corolla and a slew of SUVs and trucks. Last month, incentive-averse Toyota posted a drop in sales of over 30% 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]

Continue reading The end is nigh: Toyota announces 0% financing on 11 models

The end is nigh: Toyota announces 0% financing on 11 models originally appeared on Autoblog on Fri, 03 Oct 2008 15:58:00 EST. Please see our terms for use of feeds.

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