To apply for car finance you will need to provide the following:

Proof of Identity

• Driver’s license – at least one person on the finance application
• Passport or Proof of Age card

One of the following:

• Valid Medicare
• Valid Credit/Debit card
• Valid Veteran card

Proof of income – one of the following combinations

Employed

• Payslip including year to date summary (unless Jul/Aug) or
• 3 x consecutive payslips (if no YTD or Jul/Aug) or
• Employment contract and 3 months bank statement
  (if recently started)

Self Employed

• Tax Return or
• Business Financials

Proof of residence

Homeowner/buyer

• Rates notice

Renting

• Tenancy Agreement

Boarding or living with parents

• Proof of address

Understanding of monthly expenses – you will be asked about your current monthly expenses. It is best to be prepared with a list of your monthly expenses.

Kochie helps explain each of the documents and we have a checklist you can print to make sure you have everything you need.

PDF Checklist

At the time of purchase, you’ll be asked to choose a car, loan term, deposit amount (if any) and agree on the number of kilometres you expect the car to travel before the loan ends. We’ll then guarantee the minimum future value of your new car, otherwise known as the Guaranteed Future Value (GFV)^[F2], which will be used as the final balloon payment on your loan (subject to fair wear and tear and the estimated kilometres being met). When your term is up, you’ll have the flexibility to trade, keep or return your car as needed.

An excess usage adjustment of $0.0635 per kilometre 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)^[F2], which then becomes your adjusted GFV.

If your car doesn't meet the fair wear and tear guide, Toyota Finance will give you the opportunity to have the car repaired. Otherwise, Toyota Finance can organise the repairs and deduct the cost from your Guaranteed Future Value (GFV)^[F2]. This adjusted GFV will then be the price Toyota Finance will offer you if you return the car at the end of your term. Of course, if you keep the car, the condition won’t matter; however, if you trade it in or sell it privately, the condition will impact your sale price.

Toyota Finance analysts set the Guaranteed Future Value^[F2] based on what they estimate the car will be worth in the future. This is done through sales results of similar cars, new model data and economic factors, with your loan term and agreed end odometer factored in.

No. If you enter into a Toyota Access Consumer Loan or Toyota Access Business Vehicle Loan, you own the car and Toyota Finance will have a security interest over it.

When your loan term ends, you have the choice of one of three flexible options:

1. Trade for a new model - If the trade-in value is higher than your outstanding loan balance, you can put the difference towards your new Toyota.
2. Keep your Toyota – Simply pay the remaining balance owing on your loan, or we can help you refinance that amount, if you don’t have the cash on hand (conditions apply).
3. Return your Toyota - Toyota Finance will pay you the Guaranteed Future Value^[F2] agreed at the start of your loan, (subject to fair wear and tear and agreed kilometres being met) and put it against the remaining balance owing on your account.

You’ll just need to let us know what you would like to do around 180 days before your car loan term ends.