Toyota Says It Has Credit To Give, Just Fewer People Are Buying Their Cars

"The vast majority of our customers are able to get approved for loans," Jim Lentz told reporters after the ribbon was cut on the company's new research-and-development center south of Saline Thursday. "In our case, credit is not the biggest challenge. Our biggest challenge is consumer confidence."

Lentz said a record number of consumers are postponing new car purchases.
 

Many mistakenly believe they can no longer get car loans because of the dramatic reports from Wall Street that suggest even those with excellent credit are being turned away by lenders.

Earlier this week, the head of the National Automobile Dealers Association, Annette Sykora, said in Detroit that "credit is the lifeblood" of the retail car business and that some of her group's members say they can no longer get loans for customers with good credit.

But Toyota is not alone in calling concerns about car credit overblown.

 

Lemonade - 10/10/2008 12:30:43 PM

-6 Boost

Boy 009, you sure have a great way of exaggerating these Toyota articles to feed the ego's of these German Fan girls. Don't quit your day job buddy, you're doing great.

Agent009 - 10/10/2008 1:40:10 PM

0 Boost

Where did you get German out of this? Sounds like you have an insecurity issue.

M35MT - 10/10/2008 1:40:38 PM

+3 Boost

you must be new....

Lemonade - 10/10/2008 3:19:20 PM

-2 Boost

I as referring to the Header that was conveniently reworded in a sense to make Toyota seem like a desperate company. And don't act like you don't know what I'm talking about when bringing up the German "Fan Boys". You might want to revisit that last Toyota article with the prediction of a 40% profit shortfall just to give you an idea, as if you didn't already know. Oh! and by the way, no insecurities here my friend, just annoyed with exaggeration.

Agent009 - 10/10/2008 4:11:13 PM

+2 Boost

Well, again the only desperation in the title is what you can read into it. You might take note that the 40% shortfall is not limited to Toyota but others as well. But you also have to remember when you are on top everyone is gunning for you. So when the ultra-profitable Toyota hits a snag, everyone will pick it up, including Bloomberg who report the shortfall.

Lemonade - 10/10/2008 8:42:45 PM

-4 Boost

Once again, you're purposely missing my point so let me just spell it out for you. When an article Headed "Toyota boss: Credit isn't at fault for poor sales" is changed to "Toyota Says It Has Credit To Give, Just Fewer People Are Buying Their Cars" it totally changes the perception of what the entire article is about. I understand that it's purposely changed that way get these Fan Boys fired up and increase the traffic on this site, but that doesn't change the fact that it's still B.S.

investor27 - 10/10/2008 2:57:27 PM

+4 Boost

What the hell? There's nothing in the article about German cars.

I find the article genuine journalism since it provide an important fact: That there is no credit problem with Toyota, and fewer people are buying cars right now due to the recession. That was straight from Toyota's mouth, not Agent009.

LexSucks - 10/10/2008 4:59:12 PM

+1 Boost

Can someone name a single exciting car that Toyota Builds? They are appliances.

QuantumMatrix - 10/11/2008 7:17:59 AM

+1 Boost

No, they have just mass produced thousands of cars and have no place to put them except on dealer lots and warehouses.

Again as Huu has mentioned so many times in the past about BMW, TOYO/Lexus has ZERO percent...

Your one talking point now flushed out with all of your other useless dribble on the internet.

golfer38 - 10/13/2008 10:48:52 AM

+1 Boost

This echos what I've been trying to tell 009 all along. Honda Finance is also not having any problem giving credit, nothing's changed, we simply don't have enough people asking.