Gas prices hitting new records every day. Filling up the tank of a great big, gas guzzler SUV or pick-up truck feels like it is costing your entire week's paycheck to drive to the supermarket, where simillarly rising prices eat up another week's paycheck.
It's even a problem for Toyota, which is offering bargain interest rates on certified used Tundra trucks and Sequoia SUVs.
Certified pre-owned anything is a great deal. I'm a great believer in CPO vehicles. These are leased cars and trucks, and the conditions of the lease mean they are in better condition, and with lower mileage after two or three years. They come with new-car manufacturer and dealer warranties, even some brands even include 24/7 roadside assistance. Much more reliable than a 'plain vanilla' WYSIWYG used car.
Toyota is offering a low 2.9% interest rate for up to 66 months. That can save you $50-$60 a month in interest payments -- or the price of filling up the thirsty tank one time. "We're excited to offer this special program for our customers and dealers alike," said Norm Olson, sales operations manager of Toyota Certified Used Vehicles.
He's probably excited that maybe -- just maybe -- there's a sucker out there who thinks $4 gasoline is a good time to buy a 6500 pound hulk that gets 14/17 mpg according to the EPA, even less by the automotive website Edmunds.com. Let's do the math.
$60 a month interest saved, monster Sequoia that gets around 15 MPG, gas $4-plus. Wow, thank you Toyota, for giving me the gift of around 200 miles a month for this great drive. That makes all the difference.
Give me 2.9APR on one of your fuel efficient CPO models, like the Camry or even the RAV4 small SUV, and I'll run, not walk, to the nearest Toyota showroom. Or, maybe I would even drive.