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Zero Percent Financing Driving Dealer Sales, Profits Higher Gerson Lehrman Group

21.04.10

Contrary to what many experts predicted, zero percent financing kicked off by Toyota in early March, not only has spurred sales but also impoved dealer gross profit margins.

When Toyota kicked off Zero Percent financing in early March there was general agreement the move would help to drive more car sales. Other OEMs quickly followed suit. So much so that more than 22% of financed new cars in March were purchased with zero percent finance deals. Last March the total was 13%. The prior high was 21% in July 2006.

Toyota, which led the 0% charge  following recalls and negative publicity as a way to win back consumers, had the highest level of 0% financing purchases, a whopping 71%-the previous Toyota record was 39% in August 2009.

The two brands with the next highest percentage of such deals were Mazda at 58% and Mercury at 32%.

Another result of 0% financing has been giving dealers the

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