A Step-By-Step Guide
to the Financing Process
What are my options?
The financing process is similar to buying the car itself. You want the best deal
you can afford, with financial products that suit your needs and your pocket. You
need to begin this process by deciding on the best way to pay for your new car.
Decide if want to:
- Lease the car
- Buy and own the car
- Rent the car
Then ask yourself:
- Am I going to trade in another vehicle to use as a down payment?
- Do I have a cash down payment?
- How much can I afford on monthly repayments?
- Have I factored in the cost of insurance?
Shop around. Think of loans as any other consumer goods, and don't be afraid to negotiate
for a better deal:
- Always check the interest rate and factor any changes into your repayments.
- Look out for a deal with fixed or low interest rates.
- Do your homework and make comparisons in the marketplace: Is this your best finance
option for you?
- A good idea is to ask the dealer if he can show you examples of repayment plans
with and without extras. Remember to factor in extras as they can bump up your costs.
Time to apply! Once you have selected the type of finance you require you can complete
your loan application at your Toyota Dealership.
- Read the small print! Ask what all of the small print means and feel free to ask
lots of questions, you'll be responsible for the repayments so make sure you know
everything! If you don't understand anything or some of the jargon, ask them to
- Make sure you have all the relevant documentation with you.
- Normally you would pay a deposit on signing the agreement (if a deposit is required).
The next payment would be within 45 days of the signing of the agreement.
Behind the wheel. Once your finance is approved we will set up a debit order or make
payment arrangements for you.
- Don’t forget to get insurance for your new car.
- Make use of your new vehicle’s service & maintenance plans.
- Please feel free to contact us if you are having difficulty making your repayments.
Let us know so that we can try to help you. Toyota Financial Services 0861 10 1745.
Am I the Owner?
- If you made use of instalment finance - ownership passes to you automatically at
the end of the agreement once you have paid all amounts you owe.
- If you opted for Lease Finance - ownership passes to you if you pay the nominal
amount and meet the other conditions set out in the lease agreement.
- Rental Agreements require that you return the vehicle to the credit provider at
the end of the agreement.