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blog large image - Toyota Access Explained for Toyota Sunshine Coast Buyers

Toyota Access Explained for Toyota Sunshine Coast Buyers

Toyota Access Explained - Your Frequently Asked Questions

Securing finance to buy a car can be a daunting process, but with Toyota Access, Sunshine Coast buyers are in control. As a Toyota Guaranteed Future Value finance option, there are a few things to consider before signing up. In this article, we answer some of the most frequently asked questions. 

What is Toyota Access?

Toyota Access is a finance option first released by Toyota in 2012. With Toyota Access, Sunshine Coast car owners enter into a Toyota Guaranteed Future Value loan that estimates the value of the car you purchase based on the estimated kilometres you will travel in your vehicle (and how it will be used), as well as the estimated wear and tear of the car.  

What’s Guaranteed Future Value Mean?

Based on the car you choose, the estimated wear and tear of the car and the kilometres you expect the vehicle to travel over the life of your loan, Toyota Access’ experts determine what the expected value of your car will be at the end of your chosen loan term, by comparing it to similar cars on the market.  

The amount they decide is your Toyota Guaranteed Future Value and will be the amount you pay at the end of your loan term.  

How does it work?

Toyota Access is a lot simpler than other finance options. To qualify for Toyota Access, you have to follow the same protocols as you would Toyota’s other finance options, including providing legal ID, as well as proof of residence and employment.  

From there, it’s a matter of: 

  • Choosing your Toyota 
  • Deciding on the deposit amount you want to pay 
  • Estimating the number of kilometres you expect the vehicle to travel (factoring in the kilometres already on the odometer at the time of purchase) 
  • Choosing the repayment option that suits you – weekly, fortnightly or monthly 

Much like a fixed rate home loan, the repayments you make on Toyota Access are at a fixed rate, and will not change over the lifetime of the loan you decided on. However, you will also need to factor in other charges such as interest, an establishment fee, vehicle security registration fees, and account admin fees. For a full list of potential fees, click here. 

If the estimated wear and tear or kilometres travelled differs at the end of your loan period, you may have to pay an additional amount on your Guaranteed Future Value. Click here for more details.  

Once you reach the end of your Toyota Access loan period, you have the following options: 

  • Trading your car for another car – the Toyota Guaranteed Future Value price will be factored in if you choose this option 
  • Keep your Toyota and simply pay out the Guaranteed Future Value amount as determined by your Toyota Access conditions 
  • Return your car by “selling” it back for the Guaranteed Future Value amount against any finance you already owe. 

Is this Toyota’s Novated Lease Option?

Toyota Access is not the same as Toyota’s Novated Lease options 

Is Toyota Access Right for Businesses?

With Toyota Access, Sunshine Coast residents and businesses can benefit. It’s open to everyone. 

With Toyota Access, Sunshine Coast buyers now have more control over their finance options when purchasing a new car. But as with any loan agreement, you need to consider whether it’s right for you as an individual, or your business. We recommend you consult with your own trusted financial advisor before entering into a contract. 

If you think Toyota Access is right for your next car purchase, give us a call or visit our showroom.