Toyota launches dollar-denominated loans to purchase brand-new cars with rates starting at 9%.

Toyota Argentina introduced a new line of secured loans in US dollars for the purchase of brand-new vehicles. The proposal was launched in partnership with Banco Galicia and aims to expand access to financing in a challenging economic context.

The option includes rates starting at 9% per year (TNA) and allows financing up to 90% of the value of the car, SUV, or pick-up. Payments can be made in installments of up to 48 months and target customers authorized to operate in foreign currency.

How does Toyota's new dollar financing work?

The loans are designed for the acquisition of any model from Toyota's brand-new vehicle line-up. The amount to be financed can reach up to 90% of the vehicle's invoiced value, according to the automaker.

The secured loans are offered with rates starting at 9% per year in US dollars and terms ranging from 12 to 48 months. They are available exclusively to those with commercial activity authorized to operate in foreign currency.

What did Toyota say about this new credit tool?

Gustavo Salinas, president of Toyota Argentina, stated that the measure seeks to "facilitate and expand access to Toyota vehicles". He also emphasized that dollar financing allows adaptation to different customer profiles.

"It's a tool that boosts the growth of the automotive sector and the economy in general," the executive explained in the official announcement.

An alternative for SMEs

Toyota explained that this financing scheme is focused on customers with dollarized income or exporters. In these cases, taking on debt in US dollars becomes more convenient than accessing loans in pesos with higher rates.

In addition, this type of financing seeks to stimulate sales in the pick-up, SUV, and utility vehicle segment, which currently has strong corporate demand.

Models available for the new line of loans

The range of vehicles that can be purchased through this line of loans includes:

• Yaris
• GR Yaris
• Corolla
• GR86
• Corolla Cross
• Hilux
• SW4
• RAV4
• Land Cruiser 300
• Hiace