If you’ve ever wanted to buy a new Toyota, now is probably the best time ever. In the wake of its recall crisis, the automaker has launched one of its most aggressive incentive campaigns.
The incentives, which run through April 5, include no-interest financing for five years on eight models, including the Camry, Corolla, RAV4 and Yaris. Toyota is also offering low lease rates on nine models, including the Avalon, Highlander, Matrix and Prius. Toyota is even giving current Toyota, Lexus and Scion owners who buy a new Toyota two years of free scheduled maintenance.
“For a company that has traditionally spent less on incentives than other automakers, this aggressive incentive campaign represents a substantial change,” writes the Detroit Free Press.
While the incentives are good news for buyers, they may have a negative impact in the long run by decreasing resale value.
“KBB.com has reported that used Toyota, Lexus and Scion vehicles have already been dropping in resale value between one and 1.5 percent each week since January as safety concerns loom,” says Left Lane News. “Historically speaking, vehicles that are moved from dealer lots due to abnormally high incentives also face reduced resale on an accelerated pace compared to models sold closer to the manufacturer’s listed asking price.”
Check out the latest Toyota recall news and information, including how the company's recent troubles affect our rankings. If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals.