GM offers incentives to Toyota owners

January 27, 2010 2:51:42 PM PST
An American automaker is offering lease and buying incentives to Toyota owners. It follows Tuesday's announcement that Toyota is halting production and sales of many vehicles while it investigates an accelerator problem.

Beginning Wednesday, GM dealers are offering three incentives for people who own or lease a Toyota and want to get rid of it due to concerns over faulty gas pedals. GM will give Toyota lease holders up to $1,000 in lease payments to terminate their Toyota lease and buy or lease a g-m vehicle. Or buyers can get interest-free loans for 60 months on the purchase of a Chevrolet, Buick, GMC or Cadillac vehicle.

Cash buyers will get a $1,000 purchase bonus.

GM's offer for Toyota owners runs through the end of February.