|
|
Article: Toyota lengthens service plan.(NEWS)(Brief article)
- Article from:
- Automotive News
- Article date:
- September 28, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Donna Harris
Toyota Financial Services is rolling out an 8-year/125,000-mile extended service plan at Toyota and Lexus dealerships. Toyota Financial's previous plan covered 7 years/100,000 miles.
The new plan is one of the industry's longest new-vehicle service contracts.
Most automakers have coverage that goes up to 7 years/100,000 miles. American Honda Finance Corp. offers service contracts up to 8 years/120,000 miles.
"Mileage and terms are creeping up, said David Robertson, executive director of the Association of Finance and Insurance Professionals.
The reason? Customers are keeping their vehicles longer, said ...