Toyota: Oh, what a dealing
Drive-away models with a guaranteed buy-back figure
PREDICTING the future has just become easier, and potentially more profitable, for people considering a new Toyota.
Australia’s favourite brand is already doing interest-free finance deals— and now it has added a guaranteed buy-back figure for cars delivered via its Toyota Access plan.
To put things into perspective, someone buying a Toyota Camry Altise costing $28,998 can expect a guaranteed buy-back figure of $11,824.
That applies only to an on-the-road car delivered in NSW — prices will change with the car and state of purchase— but it points to the sort of certainty that helps people to pick the right car and deal.
Toyota claims its Access plan is a more affordable, flexible and reliable way to buy a car.
At the end of the three-year loan term, and after set monthly repayments, there is a ‘‘ guaranteed future value’’. This amount is similar to the balloon payment on any lease.
The difference is that Toyota guarantees— even before the customer signs a contract — to buy back the car at that price.
Looking again at the Altise example, the buy-back figure — depending on the car’s condition and mileage— is actually less than the current 48 per cent residual figure predicted by industry authority Glass’s Guide.
It says the predicted value is $13,920, so an owner who chooses to sell the car privately could pocket the difference.
But a few extra dollars at the end of the deal may not be the only attraction.
The Toyota Access plan is also flexible, so a customer can switch out of the car at the end of the loan term into another Toyota-financed car.
Or the car can be handed back to the Toyota dealer— probably without incurring a cost. Alternatively, the customer pays the guaranteed future value to own the car.
Apart from the 0 per cent deals on Australian-made Toyotas, and 1.9 per cent finance on a wide range of vehicles including the just-superseded Corolla, the car is covered by Toyota’s cappedprice service program so the customer has a predictable thread of costs.
This is available on the entire Toyota range.
Matthew Callachor, Toyota Australia’s sales and marketing executive director, says: ‘‘ It guarantees that the resale value of the Toyota will never be less than the final payment, totally removing any risk of being out of pocket.’’