How to finance your pre-owned Toyota
Bring these documents along
Buying a used Toyota from Automark can certainly save you money, but you may still want to finance it through an authorised financial service provider like Toyota Financial Services.
Toyota Financial Services is the leading financier of Toyota vehicles, both new and used, and they know just how to help you afford the Toyota of your dreams.
When you have identified your ideal used Toyota, you can ask your Automark representative to meet with one of the dealer’s Finance and Insurance (F&I) specialists. They will be able to create a custom-made financing plan for the used Toyota that you would like to buy.
Bring these documents along
To best assist your local Toyota Finance and Insurance manager with preparing a finance proposal, you will need to provide him or her with certain documents. These documents are required by law and help them to best structure a deal that works for you.
The first document you need is your identity document or new identity card. This is required by the Financial Intelligence Centre Act (FICA) and protects you, the dealer and Toyota Financial Services.
Second, when buying your ideal used Toyota, is your driver’s license. This is required by the National Road Traffic Act. Next up is proof of residence. This is always required when you enter into any type of contract and it is no different when you finance your Toyota.
With these documents in hand, the F&I Manager can start applying to Toyota Financial Services for a finance deal on any used Toyota that you would like to buy. The manager will now ask you some questions to determine what your level of income is and how you would like to structure your finance. This may get quite personal, but relax, it is kept in confidence.
To best structure a finance deal for your used Toyota, you will have to bring along a payslip and proof of income. This will help the finance and insurance manager to structure the finance deal with a specific repayment term, interest rate and monthly repayment amount that you can afford and that fits into your budget. Normally, Toyota Financial Services will require the latest three payslips or one payslip with three months’ worth of supporting bank statements.
Once you have provided all the necessary information and the F&I Manager has asked you a couple of questions, he or she will speak to the Toyota Financial Services team to structure a repayment deal. This last step is done electronically and will be presented to you to think it over at your leisure.
This repayment deal is called a pre-agreement and it is not binding on you until you decide to sign it and go ahead.
Once you are comfortable and you decide to proceed, you can simply speak to your Automark representative and F&I Manager and they will do the necessary paperwork to get the financing in place and transfer ownership to you. Keep in mind that Toyota Financial Services remain the title holder of the vehicle until you have paid all the instalments and other costs that were part of the signed credit agreement.
Lastly, when you have signed the financing credit agreement and are ready to take ownership, you will have to arrange for insurance. You can either work with your personal insurance representative or leave it to the F&I Manager that helped you to finance the vehicle.
Automark and Toyota Financial Services specialise in financing new and used Toyota vehicles, so they will make sure the process of buying your ideal pre-owned Toyota will be as quick and as painless as possible. You can also apply for financing online at toyota.co.za. Simply visit toyota.co.za/finance and follow the prompts.
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