Traverse City Record-Eagle

Business

October 16, 2013

Toyota: Defer payments for gov't workers

DETROIT (AP) — Toyota has joined Hyundai and Nissan in offering to defer car loan and lease payments for government workers on furlough during the partial shutdown.

The automaker’s financing unit says customers of Toyota or Lexus financial services can apply to put off making payments for up to three months. The customers’ accounts must be in good standing.

Toyota says the offer also is being made to government contractors and suppliers, and to other businesses and employees whose work is directly affected by the shutdown.

Hyundai made a similar offer to government workers on Oct. 1, shortly after the shutdown began. Nissan followed with its own offer.

Hyundai said about 1,000 people have applied to defer payments under its program. It was unclear how many deferrals have been granted.

There were signs on Tuesday that the shutdown and stalemate in Washington over raising the government’s borrowing limits could be coming to an end.

House GOP leaders unveiled a plan to counter an emerging Senate deal to reopen the government and forestall an economy-rattling default on U.S. obligations.

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