Toyota Finance Options

Find out whether Toyota’s car financing and interest rates are right for you and compare your options with Savvy.

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, updated on July 11th, 2023       

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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.

Car Loans for Toyota RAV4

Popular Toyota models

The features and benefits of our car loan

Choose from any Toyota vehicle

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.

Select your repayment term

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.

Optional deposit

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.

Include on-road costs in your loan amount

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.

Receive a personalised interest rate

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.

Fixed rates for stable repayments

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 Finance Options

Which car loan products does Toyota offer?

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:

  • Keep your car and pay out the balance on your loan
  • Trade your car in for a new model, putting the difference between the trade-in value and outstanding loan debt towards your next car
  • Hand your car back to Toyota, who will pay you the GFV and subtract it from your outstanding loan debt

What are the documents I’ll need for my Toyota car finance application?

As part of your application, you’ll be required to supply evidence of these areas using the following types of documentation:

Proof of identity

  • Your driver’s licence (supplied by at least one member of an application if it’s a joint vehicle purchase)
  • Your passport or a proof of age card
  • Either a current Medicare, credit, debit or Veteran card

Proof of income

One of the following:

  • Standard employees can provide either:
    • One payslip including a year to date (YTD) summary*
    • Three successive payslips without YTD summary*
    • If newly employed, your contract and three months of bank statements
  • Self-employed workers can provide either:
    • Your most recent tax return
    • Your business’ financials

Proof of residence

If you are:

  • A home owner: provide your most recent rates notice
  • A renter: provide a copy of your tenancy agreement
  • A boarder/living with parents: proof of address (such as a recent utility bill)

Further frequently asked questions about Toyota car loans

What are the fees I’ll have to pay on my Toyota car loan?

The fees which can apply to your Toyota financing agreement are (mandatory fees in bold):

  • Establishment fee: $395
  • Account administration fee: $8 per month
  • Vehicle security registration feel $6
  • Dealer agency fee: $890 plus GST
  • BPay payment fee: $1.50 per payment
  • Other payment fee (such as direct deposit, cheque or BillPay): $3 per payment
  • Account payment card fee: $5
  • Payment dishonour fee: $3.25
  • Late payment fee: $25
  • Information fee: $25
  • Early termination fee: $750 multiplied by the whole months remaining, divided by the total months in the contract term
Can I take out a novated lease with Toyota?

Yes – Toyota offers novated leasing products both for employees and employers. Salary sacrificing to buy a car comes with a number of key benefits, such as reducing your taxable salary (due to coming out of pre-tax income) and offering various tax deductions. However, you can apply for a novated lease right here with Savvy and get approved for a great deal with the help of our expert consultant team.

Will I be able to use a guarantor on my car loan?

Yes – a car loan guarantor can help you get approved for a better car finance deal than you otherwise would’ve on the back of your own profile. This is an individual who agrees to take on the responsibility of repaying your loan should you become unable to do so yourself, giving your lender more confidence in their loan being repaid.

Does Toyota offer car loans for business purposes?

Yes – you can take out a fixed rate loan to purchase a vehicle for your business with Toyota. It’s important to consider your options if you’re looking for a car loan for your business, which is why Savvy can help you find the right one for you thanks to our streamlined application process and dedicated team of consultants.

How can I find the best car loan for me?

Quite simply, comparing as many car loan offers as possible will put you in the best position to choose the best product for you with confidence. Savvy takes the hard work out of comparing and crunches the numbers for you, taking your application and profile into consideration when searching for the best car loans. You can get started today and drive away in as few as two days when you apply with Savvy.

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