TORRANCE, California — Toyota confirmed for Inside Line on Thursday that its new Toyota-branded credit card, slated for release in October, can help consumers with the purchase of vehicles, including the 2009 Toyota Prius. Customers build up points through purchases and those points can be redeemed toward the down payment on Toyota vehicles.
"The points structure is still in development for the Toyota card and we'll announce that structure closer to launch," said Toyota Financial Services spokeswoman Kerry Rivera in an e-mail to Inside Line.
Points can also be redeemed for discounts on vehicle parts and maintenance.
Rivera noted that Toyota Financial Savings Bank will carry the credit card balances, as well as maintain customer data and portfolios. Customers will be able to apply for the card online or get instant credit at a dealership.
Toyota has issued about 50,000 Lexus-branded credit cards since 2005, resulting in $11 million in points accrued and $4.5 million redeemed, Rivera said.
What this means to you: A good way to whittle down the price of a Prius and other Toyota vehicles. — Anita Lienert, Correspondent
"The points structure is still in development for the Toyota card and we'll announce that structure closer to launch," said Toyota Financial Services spokeswoman Kerry Rivera in an e-mail to Inside Line.
Points can also be redeemed for discounts on vehicle parts and maintenance.
Rivera noted that Toyota Financial Savings Bank will carry the credit card balances, as well as maintain customer data and portfolios. Customers will be able to apply for the card online or get instant credit at a dealership.
Toyota has issued about 50,000 Lexus-branded credit cards since 2005, resulting in $11 million in points accrued and $4.5 million redeemed, Rivera said.
What this means to you: A good way to whittle down the price of a Prius and other Toyota vehicles. — Anita Lienert, Correspondent
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