Toyota Offers Interest-Free Car Loans

Japanese giant capitalizing on US automakers' woes
By Peter Fearon,  Newser Staff
Posted Oct 17, 2008 4:01 AM CDT
People crowd around Toyota's tiny new "ultra-compact" iQ in Japan.   (AP Photo/Katsumi Kasahara)
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(Newser) – Toyota is moving aggressively to fight slowing sales with a $250-million advertising campaign that offers zero-percent financing on 11 vehicles. The Japanese auto giant is flush with billions of dollars in cash and plans to use it to boost its market share, just as Ford, GM and Chrysler are at their weakest, reports the Wall Street Journal. 

"We're not coming into the office every day worried about GM and Ford. We're worried about our 1,400 dealers," said a Toyota marketing executive. "We will emerge from this cycle potentially even stronger." The massive ad campaign touting the interest-free car loans began this week.