According to a recent article published in Financial Times,

Toyota has begun offering cut-rate financing for the first time on used vehicles across the US, underscoring the widening crisis in the motor industry, especially in the fuel-thirsty sport-utility vehicle and pick-up truck segments.

It just goes to show you that even one of the most famous car makers responsible for some of the most economical cars can still be affected by the gas crisis. People tend to focus on the fact that Toyota puts out such economical vehicles such as the Toyota Prius and fail to remember that they also manufacture SUVs such as the Toyota Tacoma and Toyota Tundra. According to the article, Toyota is offering cut-rate financing for the first time ever-offering potential buyers discounts and incentives on purchasing used vehicles. For instance, people can now expect to pay an interest rate around 2,9% for a five-and-a-half year loan versus the older rates that fell anywhere between 5.3% and 8.4%.

But Toyota isn’t the only car company offering such deals. It seems that many dealers, such as General Motors are trying to launch similar deals in an effort to retain customers as well as to help get rid of some of their SUVs. What seems to be happening, however, is that people are bringing in their SUVs and trading them for smaller vehicles thereby adding to the growing surplus of SUVS at dealerships. In some cases, dealers have stopped accepting SUVs as trade-ins altogether, or they will offer very little for them.

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Tags: Auto Transportation, auto, auto news //