Toyota extending no-interest loans, discounts on some models

(April 7, 2010) LOS ANGELES — Toyota is extending no- interest loans and discount leases for another month on some U.S. models and expanding an offer of two years of free maintenance to hold onto sales gains after record recalls.

The incentives include zero-percent financing for as long as five years on 2010 Camry, Avalon, Corolla and Matrix cars; Highlander and RAV4 SUVs; and Tundra pickups. All consumers are now eligible for the service plan, not just repeat customers. The deals run until May 3.

“We're extending the two-year complimentary maintenance program, that proved to be very popular with existing Toyota owners in March, to all buyers in April,” Bob Carter, group vice president and general manager of Toyota brand sales, said today in a statement.

Toyota is trying to build on momentum in U.S. sales in March, when discount loans and leases helped the world's biggest automaker boost deliveries 41 percent after two monthly declines. The company has recalled more than 8 million vehicles to adjust brakes and fix flaws linked to sudden acceleration.