After posting a 32 percent drop in sales for September, Toyota has announced zero percent financing on eleven models in an effort to balance out the effects of tight credit and growing consumer fears.

Although no-interest loans may stop the sharp decline in Toyota's sales figures, the company still predicts a further 7 percent drop in the U.S. to just 2.44 million vehicles for 2008.

Hideki Homma, a spokesman for Toyota, said, "Needless to say, it's quite obvious dealer traffic is decreasing. We needed to promptly do something."

Analysts responding to the move say Toyota has the cash on hand to offer the deal and have put rivals in a position of not being able to offer anything better.

An auto analyst with CLSA Asia-Pacific Markets, Christopher Richter, quoted by Automotive News, said, "This is a great marketing ploy when people think there's no credit out there. And at the end of the day, I don't think the costs to Toyota will be that great."

The offer runs through November 3 and covers loans of 36 to 60 months dependent on model. Those qualifying include: Matrix, Corolla, Camry, RAV4, Highlander, FJ Cruiser, 4Runner, Sequoia, Sienna, Tacoma, and Tundra.

Elevated requirements will likely be applied making it difficult for some potential customers to qualify, but for those who do, the zero percent loans should be a powerful incentive to buy.