LIFESTYLE

Toyota Access vs. A Standard Car Loan:
Which is right for you?

Toyota access vs. a standard car loan
Toyota access vs. a standard car loan

Comparing costs, convenience and flexibility

Purchasing a new or used car involves countless decisions — from the make and model to the colour and features. If you plan to finance your vehicle the choices across lenders, loan types and terms can be overwhelming.

To help you make an informed decision we’ve compared a Toyota Access loan to a standard car loan similar to those offered by most banks and lenders.

The key benefits of Toyota Access[F3]

Guaranteed

Guaranteed Future Value (GFV)[F2]

Lower

Lower monthly repayments[F9]

Flexible

Flexible end-of-loan options

Toyota access vs. a standard car loan
Toyota access vs. a standard car loan

3 key differences from Toyota Access[F3]

A standard loan may suit if you want traditional finance or a longer loan term. If you finance via your bank, they can offer the convenience of managing your car loan alongside your other accounts. But it’s unlikely they will offer:

  • a Guaranteed Future Value (GFV)[F2]
  • access to lower monthly repayments[F9]
  • options at the end of your loan.

1. A guarantee on your vehicle’s future value


A key difference is that generally standard loans don’t offer a Guaranteed Future Value (GFV)[F2]. When a standard loan ends, your vehicle’s worth (if you want to sell) will depend on an unpredictable market rate.

A GFV is the minimum value of your Toyota at the end of the Toyota Access loan term; you’ll know exactly how much your car is worth at the end of your loan. If you decide to return your car to Toyota Finance at the end of your term, we will pay you the agreed GFV, which will be put against your final payment subject to Fair Wear and Tear Guidelines and agreed kilometres being met.

Toyota access vs. a standard car loan
Toyota access vs. a standard car loan

2. Find your freedom with
the option of lower monthly repayments[F9]


Want the option of lower monthly repayments[F9]? With a standard loan you generally pay a deposit and choose a loan term based on your budget. Some banks and lenders offer variable rate loans – if interest rates rise, so does your monthly repayment.

A Toyota Access loan has a fixed rate for the life of the loan, so even as interest rates change, you have the peace of mind of knowing your repayment stays the same. And the GFV that comes with Toyota Access – equal to your final loan payment – may also contribute to lowering your repayments[F9] compared to a standard car loan.

3. Keep your options open


A standard loan ends after the final repayment with you owning the vehicle. It's yours to keep or sell at the mercy of market conditions.

We don’t always know what the road ahead will bring, so it’s good to have flexibility. Toyota Access puts you in the driver’s seat with three flexible options at the end of your loan:

Trade

Trade

Keep

Keep

Return

Return


Trade your vehicle

When you’re ready for that new car feeling, talk to your local dealership about upgrading your Toyota. If the trade-in value is higher than your loan balance (equal to your GFV), you can put the difference towards your new vehicle or keep it.

Keep your vehicle

If you’re attached to your Toyota, you can make it yours by paying out or refinancing the remaining loan balance (equal to your GFV).[F6]

Return your vehicle

If you're ready to hand back the keys at the end of your term, we will pay you the GFV to cover your final loan repayment subject to Fair Wear and Tear Guidelines and agreed kilometres being met.

Toyota access vs. a standard car loan
Toyota access vs. a standard car loan

The right finance for your next Toyota

The right loan for you depends on your personal financial goals and budget. Taking out a loan is an important decision and requires thorough research. Everyone’s personal financial circumstances are different, so finance that’s suitable for one person may not be the right choice for someone else.

There’s a range of Toyota Finance products to help get you on the road.

Find out more about Toyota Access from your local Toyota dealer or visit toyota.com.au/access


Disclaimers

This information provided is of general nature and does not take into account your personal needs and financial circumstances. Nothing on this page constitutes or should be considered to constitute financial advice. TFA recommends that you seek independent advice from a qualified financial advisor, who can advise you about your personal circumstances.

[F2]  The Guaranteed Future Value (GFV) is the minimum value of your Toyota at the end of your finance contract, as determined by Toyota Finance. If you decide to return your car to Toyota at the end of your term, Toyota Finance will pay you the agreed GFV, which will be put against your final payment subject to fair wear and tear conditions and agreed kilometres being met. The information provided is general in nature. You should seek your own financial advice to determine whether Toyota Access is appropriate for your individual circumstances. Terms, conditions, fees and charges apply. Toyota Access GFV products are available to approved customers of Toyota Finance, a division of Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536.

[F3]  Terms and Conditions, fees and charges apply. Toyota Access Guaranteed Future Value products are available to approved customers of Toyota Finance a division of Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536.

[F6]  Approved applicants only. Terms and conditions apply. Toyota Finance is a division of Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536.

[F9]  Lower monthly repayments compared to a similar term with no Guaranteed Future Value (GFV) or equivalent balloon final payment. Total interest charges will be higher if a GFV or balloon final payment is selected.