Toyota Starts Rolling Out Deals to Attract Buyers

Washington DC February 25, 2010; The AIADA newsletter reported that even as Toyota executives face a grilling from lawmakers this week, the auto maker is trying to win over a bigger audience—consumers—not just with words, but with deals.

The Wall Street Journal reports that Toyota has sweetened lease deals on many models by increasing the "residual values"—the projected value of the car at the end of the lease contract—and dropping finance rates.

Toyota dealers are moving 2010 Corollas with a zero percent interest, five-year-loan offer. New Camrys are on sale for as little as $179 a month. The Lexus luxury division is promoting discounted lease offers as well, which vary by region and dealer.

Toyota is also offering deals to people who want to buy a new car. Depending on where you live, for example, you could get $1,000 off the price of a Camry, or 0 percent to 1.9 percent financing deals.

"The programs are very aggressive," says Tom Rudnai, president of Longo Toyota in El Monte, Calif., the highest-volume Toyota dealership in the country. "We are seeing quite a bit of traffic." Mr. Rudnai says the recall has brought hundreds of longtime customers back to Longo for service, which gives the dealership a chance to reconnect and talk about their next purchase.