Toyota Finance analysts set the Guaranteed Future Value (GFV), based on what they estimate the vehicle will be worth in the future. This is done through sales results of similar vehicles, new model data and economic factors, with your loan term and agreed End Odometer factored in.
The Guaranteed Future Value (GFV) is the minimum value that Toyota Finance believes your vehicle will be worth at the end of your contract term. This is subject to the vehicle being returned in a condition that meets Fair Wear and Tear guidelines, and not having travelled more kilometres than agreed. With this in mind, the Guaranteed Future Value (GFV) may be more or less than the actual value of the vehicle.
Yes - if you want to take advantage of Toyota Finance's offer to buy the vehicle from you for the Guaranteed Future Value (GFV). You will be given a Fair Wear and Tear Guide before you enter into your contract.
If your vehicle doesn't meet Fair Wear and Tear guidelines, Toyota Finance will give you the opportunity to have the vehicle repaired. Otherwise, Toyota Finance can organise the repairs and deduct the cost from your Guaranteed Future Value (GFV). This adjusted Guaranteed Future Value (GFV) will then be the price that Toyota Finance will offer you if you return the car at the end of your term. Of course, if you keep the vehicle, the condition doesn't matter. And if you trade it in or sell it privately, the condition will obviously impact your sale price.
Yes. You can trade your car at any time for a new vehicle, however you will need to pay the remaining balance of your account and forgo the Guaranteed Future Value (GFV).
Yes. You simply pay out your finance contract during or at the end of the term. Toyota Finance may offer you the chance to extend, vary or refinance the final payment. If you choose this option, the Guaranteed Future Value (GFV) will no longer apply.
Yes. Simply pay out the remaining balance of your account. If you do this the Guaranteed Future Value (GFV) will no longer apply.
Yes. Providing your vehicle meets the Fair Wear and Tear guidelines and you have not travelled more kilometres than agreed, Toyota Finance will use your Guaranteed Future Value (GFV) to pay the final payment.
An excess usage adjustment will apply if, at the end of the term, you have travelled more than the agreed End Odometer. This will be deducted from your Guaranteed Future Value (GFV), which then becomes your adjusted Guaranteed Future Value (GFV).
No. If you enter into a Toyota Access Consumer Loan Contract or Toyota Access Business Vehicle Loan, you own the vehicle, with Toyota Finance taking a security interest over it. However, if you enter into a Toyota Access Term Purchase agreement, Toyota Finance owns the vehicle until your finance contract is paid out. You may then be given the opportunity to purchase the car.
Toyota Access is competitively priced. As the final payment equates to the Guaranteed Future Value (GFV), the interest is higher than that of a loan with a similar amount and term without a balloon final payment. Of course, the deposit and any prepayment of monthly payments will help reduce charges. We suggest you seek financial advice to ensure this product is right for you.
Toyota Finance does not provide business or tax advice. We suggest you seek independent advice.
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