The Auto Writer

It used to be that finding and purchasing any new Toyota model for less than the sticker price was a difficult proposition. Like Honda, Toyotas have long been considered one of the benchmark brands by which most others are measured. Clearly, this holds true for today, but there is one problem: Toyota is having difficulty moving their inventory.

A First For Toyota

Beginning immediately and running through November 3^rd, Toyota is making the unprecedented move to slap 0% financing on eleven of its models. Like every other manufacturer, Toyota was hammered in September by a huge drop off in sales, a decrease of 32.3%, one of the sharpest losses of the Big 6 automakers (ie, GM, Toyota, Ford, Honda, Chrysler, and Nissan). Most of these losses can be attributed to the virtual collapse of the credit industry as the federal government wrestles with what is now a gargantuan $850 billion dollar bail out bill.

Due to the dry up of the credit industry, cash rich Toyota is tapping its own financing arm to offer special interest free financing on select models for terms ranging from 36 to 60 months. These eleven models include the Camry, Corolla, Matrix, Tundra, FJ Cruiser, 4Runner, Highlander, Sequoia, Sienna, RAV4 and Tacoma. Noticeably absent is the Yaris and hybrid Prius as well as any models from Scion and Lexus.

GM, Others Offer Incentives Too

Other automakers have already announced their inventory clearing incentives including General Motors which replaced its successful “employee pricing” plan with a zero percent financing or cash back program of its own. The company is offering $2000 bonus cash on the 2008 Buick Lucerne, $5000 bonus cash on its big pick up trucks and 0% APR for 72 months on the Chevrolet Tahoe, among other offers.

For consumers who have plenty of cash on hand, shopping for a new car between now and the end of the year can save you thousands of dollars. Expect that a Toyota dealer will lower their sticker price for customers who don’t want financing and who choose to pay cash. With the market is such bad shape, clearly the consumer with excellent credit and/or cash in hand can call the shots and ensure themselves of securing the best deal on their new vehicle.

In the coming weeks, I’ll post a feature covering all of the incentives being offered, particularly the year end deals which tend to crop up right after Thanksgiving. With September 2008 domestic sales falling below one million units, automakers are scrambling for ways to get you into a new car. Of course, the current financial climate will play have a strong impact on whether you buy now or put your purchase on hold, a decision you’ll make based upon your personal confidence in the market.

Cooler air has surged in across much of the country, making this weekend the perfect time to take in a car show or auto display in your area. Although the major car show season for the US market won’t be kicking off until the L.A. Auto Show next month, three shows are in progress right now.

Let’s take a look at what is going on this weekend from coast to coast and everywhere in between:

The Orange County Auto Show — Running through Sunday, the Anaheim show runs from 12 noon to 10 p.m. today, 9 a.m. to 10 p.m. on Saturday and from 9 a.m. to 7 p.m. on Sunday. All of your favorite manufacturers will be present and side events include a Sugar Ray contest and a beauty pageant.

Delaware Auto Show — The state’s lone auto show begins today and runs through Sunday. A good selection of popular and exotic brands will be represented at the Chase Center located on Wilmington’s waterfront.

Harvest Moon Festival/Classic Car Show — If you find yourself in the Forsyth, Missouri area this Saturday, then you won’t want to miss this special classic car show. At least 100 cars are expected to be entered this year, with judging taking place in the early afternoon, followed by prizes. There will be concession stands, a karaoke contest, 50/50 raffle and attendance prizes at the event being held at the Forsyth Elementary School parking lot.

2008 Huntley Fallfest — The car show portion of Fallfest was rained out last month, therefore it has been rescheduled for this Sunday at Deicke Park from 10 a.m. to 3 p.m. Located in Huntley, Illinois, as many as 41 trophies are expected to awarded at this year’s show.

26th Annual Antique and Collector Car Show — To be held this Saturday at Landmark One Park in Dothan, AL. Muscle cars of 1964-1973 will be featured at this year’s show. Awards will be given for first, second and third places in each class, best in show, club with the most participation, longest distance driven and oldest vehicle registered.

The San Antonio Auto & Truck Show — Running through this Sunday, the San Antonio show is marking its 40th anniversary and will feature a number of special cars including the new 2009 Corvette ZR1, a 638-horsepower super car with a $103,000-plus price tag, making it the most expensive Chevrolet model ever. In addition to the all-new Ford F-150 and Dodge Ram, Suzuki will feature its new Equator, a rebadged Nissan Frontier truck.

And, if you are in Paris, then Saturday marks the start of the bi-ennial Paris Motor Show, an event that runs through October 19th and will feature some of the most anticipated cars of the year including an electric model from Nissan, the Lexus IS convertible, Chevrolet Cruze, and more.