Toyota and GM have both announced 0% financing on 2010 models, reports Automotive News [sub]. GM will offer the 60-month financing deal on 55 percent of its new models, while Toyota will offer the same terms on its Camry, Corolla, Matrix, Avalon, Yaris, Highlander, RAV4 and Tundra (not including hybrids). According to GM’s Susan Docherty, Toyota’s woes had nothing to do with the decision to offer finance deals, telling AN [sub]:
Obviously, with our hot launch products, we don’t need to put 0 percent financing for 60 months on that. That 0-for-60 will be primarily on products like our pickups. That’s completely in line with what our marketing strategy is. We’re going headstrong into truck month for both Chevrolet and GMC, which is a traditional play that we have normally done during March.
And no wonder: GM’s truck sales were flat in February. According to Automotive News [sub], Toyota will also offer several lease and dealer cash deals which vary from region to region.
GM’s 0% financing means the taxpayers are funding the interest loss on each sale. Sort of like “Cash For Clunkers (To Be)”.
GM’s 0% financing means the taxpayers are funding the interest loss on each sale. Sort of like “Cash For Clunkers (To Be)”.
.
.
Precisely. Government Motors is leveraging taxpayer cash to prime the sales pump. A brilliant analogy with C for C, gslippy.
As a Pontiac owner GM has now sent me two “Keep You in the GM Family” letters. The last letter is good for an additional $2,000 off the current $4,000 rebates offered on GMC/Chevy trucks or $1,000 off a Camaro or Corvette. I think the wife threw it out in fear that I might use it.
I wish the lease on my wife’s 08′ Camry SE was up this month instead of March 2011. There are some nice deals out there. All I can hope for now is that she calls me on her Bluetooth to hear my voice one……….last……time.
When do we see the incentive charts for February? With Toyota’s slumping sales when everyone had good gains, I wouldn’t be surprised to see Toyota becoming more like GM in incentives. I am guessing that will last as long as it takes for the UA problems to get out of the news.
If I understand her correctly:
“Obviously, with [cars people want to buy], we don’t need to put 0 percent financing for 60 months on that. That 0-for-60 will be primarily on [cars people don’t want to buy].”
Nothing to see here.
There will never be enough incentive for me to set foot back in a GM dealership ever again. I don’t feel the need to make another routine visit to or from Dave at the service desk, Mack the mechanic or Charlie the towtruck driver.
“http://images2.auction123.com/f9bec8cc-f6ab-4a56-a51c-2f3df9a01247/11VA813E86A000055/01.jpg?webimage001l” alt=”Spotter” width=”395″ height=”300″ />