Toyota Launches First National APR Program for Select Certified Used Vehicles

Toyota Motor Sales (TMS), U.S.A., Inc., today announced its first-ever national Annual Percentage Rate (APR) program for select Toyota Certified Used Vehicles (TCUV). The national APR program offers eligible customers a 2.9 percent interest rate up to 66 months, and applies to certified used Tundra and Sequoia vehicles.

"We're excited to offer this special program for our customers and dealers alike," said Norm Olson, sales operations manager of Toyota Certified Used Vehicles. "With this program, consumers, on average, will see a $50 to $60 improvement on their monthly payments for a used Tundra or Sequoia -- a significant savings in today's economic climate."

Effective from May 23 through July 31, 2008, the program was developed in order to bolster sales of full-size pickup trucks and SUVs.

The TCUV program combines the confidence of purchasing a new vehicle with the value of a used vehicle to provide a "like new" ownership experience. Certified used vehicles offer consumers a smart alternative to traditional used car options and give them the peace of mind they seek in a used vehicle. TCUV posted sales of 95,260 vehicles this year through April, an increase of 7.3 percent over the same period last year. Calendar year through April 2008, Sequoia posted certified used sales of 2,464 units while Tundra recorded certified used sales of 6,728 units.

Toyota Motor Sales (TMS), U.S.A., Inc. is the marketing, sales, distribution and customer service arm of Toyota, Lexus and Scion. Established in 1957, TMS markets products and services through a network of more than 1,400 Toyota, Lexus and Scion dealers. Toyota directly employs over 36,000 people in the U.S. and sold more than 2.6 million vehicles in 2007.

Launched in 1996, the Toyota Certified Used Vehicles (TCUV) program offers the next best thing to the purchase of a new Toyota. TCUV provides peace of mind in the purchase of a used vehicle that only a Toyota factory-backed certification program can offer. Since its inception, TCUV has sold over 2.2 million certified vehicles. Under TCUV, all vehicles undergo a 160-point quality assurance inspection, including mechanical and appearance reconditioning. TCUV also offers a 7-year, 100,000-mile limited powertrain warranty, a 7-year, 100,000-mile 24-hour roadside assistance plan, and a 3-month, 3,000-mile comprehensive used car warranty. Currently, over 93 percent of Toyota dealers offer vehicles under the TCUV program.

Source: Toyota