Thousands of military personnel have recently returned from overseas deployments, and to mark the occasion, Toyota and Lexus are offering America's men and women in uniform special financing on new vehicles for the next several weeks. Cash-back rebates are included in the deal, too.
On the Toyota front, the Welcome Home Special APR Program offers loans at 1.9% APR for up to 60 months on new 2011 and 2012 vehicles. Toyota is also offering a $500 military rebate on those rides. To take advantage the loan offer, purchases need to be made by March 5, 2012. The rebate offer continues much longer -- until January 2, 2013.
The arrangements work similarly at Lexus dealers, where military personnel can receive 0.9% APR loans on 2011 and 2012 vehicles from the ES and IS lines, as well as the 2012 RX350. Other Lexus vehicles can be financed at the 1.9% rate, and the rebate on all Lexus vehicles is $750. The loan offer runs through February 29 of this year, while the rebate continues a few weeks longer, through March 31, 2012.
To take advantage of these deals, you'll need to meet a few criteria:
1. Applicants must be on active duty in the U.S. Military or U.S. Military inactive Reserve. Retired military personnel aren't eligible for this promotion.
2. You'll need to find a dealer participating in the "Welcome Home Special APR Program". You can find a list of dealerships at www.toyota.com/dealers and www.lexus.com/dealers -- though you may need to place a few calls to determine if the dealers nearest you are participating in the program.
3. You'll need to finance the vehicle through Toyota Financial Services or Lexus Financial Services.
4. You'll also need to receive regular credit approval and to prove that you earn a salary sufficient to cover both living expenses and vehicle payments.