Written by , updated on July 11th, 2023
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Find out whether Toyota’s car financing and interest rates are right for you and compare your options with Savvy.
Fact checked
Toyota is a Japanese car manufacturer which has expanded since its inception in 1937 to become one of the largest in the world. With such reach, they’re expanded their product selection to also include finance on their vehicles.
However, it’s important to understand dealership finance before you sign up for a loan without knowing its conditions, which is why Savvy has taken steps to ensure you understand the ins and outs of Toyota’s car finance products.
We can help you secure the best car loan for your situation by comparing from our wide range of car lenders and ensuring your application meets the mark each and every time, maximising your chances of finance approval.
*Savvy does not represent Toyota for their car loan product.
When you apply to Toyota, you can choose between a range of vehicles, including their standard car range, SUVs and 4WDs, utes and vans, and GR and performance.
You can access finance terms of as little as one year and as many as seven, giving you the ability to tailor your car loan’s repayments to your income limitations.
If you wish to, you can contribute a lump-sum deposit towards your vehicle purchase, which reduces your loan debt, the cost of interest overall and your monthly repayments.
You’ll be able to borrow more than 100% of the cost of your vehicle by adding a range of on-road costs in your loan, such as stamp duty and other costly expenses.
Toyota finance interest rates are tailored to the profile of the applicant (as is the case for all lenders), so you can receive a rate which is reflective of your individual situation.
Your Toyota finance interest rates will be fixed, meaning you’re protected from any increases in rates during your term and will be able to budget ahead with more confidence.
Toyota offers financing in the way of two main consumer vehicle products: their Fixed Rate Car Loan and their Toyota Access Loan. It’s important to know the difference between these two products before you apply.
Toyota Personal Fixed Rate Car Loan
This product is just like any other standard secured car loan in terms of the way it’s set up; if you know what a car loan is, you’ll be able to understand this product. You can borrow money to pay for a new or used Toyota vehicle and repay it in instalments over up to seven years with interest and fees. These will typically come in weekly repayments, which are to be paid until the conclusion of your loan (at which point your agreement will be completed and, if you’ve repaid ahead of schedule, you’ll be required to pay a fee).
Toyota Access Loan
Toyota Access works differently to their other car finance product. Part of this agreement involves setting the Guaranteed Future Value (GFV) of the car, which serves as the balloon payment at the conclusion of the loan. You can repay the loan over between one and four years, at the conclusion of which you can either:
As part of your application, you’ll be required to supply evidence of these areas using the following types of documentation:
Proof of identity
Proof of income
One of the following:
Proof of residence
If you are:
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.