Payment Waiver Program

2012 TOYOTA AND SCION

SPRING PAYMENT WAIVER PROGRAM

Toyota Financial Services (TFS) and Toyota Motor Sales, USA (TMS) are excited to announce the 2012 Toyota/Scion Spring Payment Waiver Program (PWP), which begins on March 06, 2012 and runs until July 09, 2012.  Approximately 45,000 customers are eligible for this program.

PROGRAM OVERVIEW:

When qualified customers finance or lease an eligible NEW 2011/2012/2013 Toyota or Scion vehicle through TFS and their participating Toyota dealer, AND present the Payment Waiver Lease Certificate Number, the following benefits apply:

• TFS will waive up to SIX remaining lease payments on their current Toyota or Scion vehicle.  (This may include deferred but not delinquent payments.)
• Mileage charges will be assessed only on the portion that exceeds the total mileage allowed on the original lease.
• Security deposit waived when customer leases a new 2011/2012/2013 Toyota or Scion vehicle.

Please note that the offer can only be used at a Toyota dealership for a NEW 2011/2012/2013 Toyota or Scion vehicle.

Program Period

Payment Waiver Certificate is valid from March 06, 2012 through July 09, 2012.  Lease Agreements and Retail Installment Sales Contracts must be dated no later than July 09, 2012 and processed by TFS no later than August 08, 2012.

Program Compatibility

The Payment Waiver Program is compatible with most other incentive programs.  Please review your respective program announcements to determine compatibility with this program or confirm compatibility with your TFS DSSO.

Vehicle Eligibility

Any NEW 2011/2012/2013 Toyota and Scion vehicle financed or leased through a participating Toyota and Scion dealership and TFS qualifies for this offer.  Vehicles must be in dealer stock during the program period.  TCUV/SCPO or Lexus vehicles are not eligible.

Lease Payment Waiver Certificate Conditions and Restrictions and Customer Eligibility Guidelines:

1.     Lessees currently leasing a Toyota and Scion vehicle (New or Certified) that has a 24-60 month term with an original maturity date or revised maturity date (excluding lease extensions) of May 02, 2012 ? October 02, 2012 and who meet certain criteria will receive this offer (i.e., lessees that filed bankruptcy over the course of their existing lease are excluded from this program; lessees that have no unpaid remaining payments are excluded from this program, as well as lessees with 1Pay contracts or Open- End leases.)  Please note:  Not all maturing customers will qualify for the Payment Waiver Program.

2.     Customers have the choice of either participating in the Payment Waiver Program or purchasing their lease vehicle.  They cannot do both.

3.     To redeem the offer, customers must:

q  Obtain credit approval to lease or finance a new 2011/2012/2013 Toyota and Scion vehicle  from the dealer and TFS; and

q  Customer(s) from the original lease agreement must fulfill one of the following:

                                               i.     Submit their Payment Waiver Certificate to the dealership, or

                                              ii.     Provide the unique Payment Waiver Certificate Number to the dealership, or

                                             iii.     Have the dealership confirm their eligibility & obtain their unique Payment Waiver Certificate Number from TFS DSSO or CSC.

q  The new retail installment sales contract or lease agreement cannot be booked without the corresponding Payment Waiver Certificate Number.

q  At least one customer from the original lease agreement must enter into a retail installment sales contract or lease agreement for a new 2011/2012/2013 Toyota and Scion vehicle assigned to TFS.

4.     Dealerships have the option to purchase a customer's lease vehicle through this program.  In order to purchase a vehicle, they must do so via Dealer Direct, and will pay the Payoff Price or the Market Based Price (whichever is less).  The Payoff Price quote in (Dealer Direct) is available following the completion of the vehicle grounding process and throughout the dealer's exclusivity purchase time period.  The Residual Purchase option is not available under this program.  See the Dealer Instructions section for additional details.