Toyota may extend 0% interest rate incentive beyond Nov. 3rd

Toyota’s zero percent interest loans incentive hasn’t even come close to its deadline and Toyota is considering extending the expiration date. According to Jim Lents, Toyota’s top North American executive, Toyota could extend the deadline (Nov. 3rd) for its new zero-percent interest rate on 11 models.

“We will see how things are going,” Toyota’s Jim Lentz told Reuters in an interview.

Toyota kicked off the new incentive in the beginning of Oct. after its Sept. sales slide 32 percent, the biggest drop for the Japanese automaker in years.

Lentz said that he feels the drop in consumer traffic at Toyota dealership is due to the lack of consumer confidence in the market rather than the lack of credit available to consumers.


Source: Automotive News (Subscription Required)