In an effort to buoy sales of its recalled and repaired used vehicles, Toyota Motor Sales U.S.A. Inc. is offering incentives both to dealers who buy its certifiable used vehicles at auction and to consumers who buy the certified used vehicles.
Justin Leach, Toyota Financial Services spokesman, confirmed that Toyota dealers earn a credit of $450 for each certifiable used vehicle they buy from the company at its auctions from March 9 through 31. Through April, dealers can use the credits to cover the per-vehicle fee Toyota charges for vehicle certification.
In addition, Toyota is offering 2.9 percent financing on contracts of up to 60 months to consumers who buy certified used Camrys, excluding Solara, and Corollas, excluding Matrix, spokeswoman Zoe Ziegler confirmed in an e-mail. The national program started March 2 and ends April 5.
Toyota's incentive programs to support certified used vehicles typically are run on a regional, not national, basis. The current national programs do not include states handled by private distributors Gulf States Toyota and Southeast Toyota.
To qualify for certification, vehicles must be no more than seven model years old, have fewer than 85,000 miles on the odometer and pass a third-party vehicle history check. Certified vehicles undergo inspection and mechanical and cosmetic reconditioning.
Toyota, not including Lexus, sold 18,382 certified used vehicles in February. That was 7 percent fewer than in February 2009, but more than any other single brand.