Toyota Finance

At Inchcape Toyota we have a wide variety of funding options and insurances available. From Toyota's highly popular Personal contract purchase schemes to insurance for your alloy wheels! Here we explain how our funding and insurance options can work for you.

Personal Contract Purchase is a highly attractive and very popular way to own a new, nearly new or used car. It combines fixed monthly payments with exceptional flexibility at the end of the agreement.

Your car's Guaranteed Future Value is calculated (based on a pre-agreed mileage per year and the age of the car) and is deferred as a final payment. At the end of your PCP agreement you have total control in deciding which of these choices suits you best:

  1. Retain - Buy the car by paying an agreed minimum residual value (Final Payment)
  2. Return - Return the car with nothing more to pay, subject to mileage and condition. (i.e. If car prices fall substantially and you find you have negative equity you hand the car back with nothing to pay!)
  3. Renew - Part-exchange your car, any equity after the final payment is taken care of is yours to use as deposit or take as cash-back.

Why choose Personal Contract Purchase?

  • Fixed change cycle - know when your car is due for upgrading, with the flexibility to do this early if your circumstances change
  • Guarantee - A minimum Future Value for your car is guaranteed by the lender
  • Great Monthly payments - perfect for budgeting
  • You’re in control - Buy the car, just return it or part-exchange it, the choice is all yours!
  • Tax breaks - If you're opting out of a company scheme, your cash alternative isn't subject to company car tax

Many thousands of UK consumers have already benefitted from PCPs and the vast majority are using PCP as their preferred method when it comes to changing for their next car!

The contract hire option is available to our customers who wish to use a tax and balance sheet efficient method of fixed term vehicle rental. The monthly rental is calculated based on VAT beneficial vehicle pricing for VAT registered customers. Mileage and initial rental is also part of the calculation.

Many of our business customers have found contract hire to be the most efficient method of funding a vehicle for them, having the choice to include all of your servicing and maintenance costs can also prove to be excellent for monthly budgeting.

Call us to discover how contract hire could prove VAT, tax and cash flow efficient for you.

Hire Purchase is perhaps the most traditional of funding methods. The monthly payments are determined by the amount of deposit initially paid, the period of the contract and the overall price of the vehicle. Once all the payments due under the agreement have been made the title passes to you and you are free to keep or dispose of the vehicle as you see fit. Should your circumstances change you are able to settle the agreement early, and your finance company will be happy to provide a figure for this at any time.

A typical hire purchase option will consist of paying a low deposit amount (maybe 10% of the vehicle price), have no mileage restrictions and entitle you the customer to eventual ownership of the vehicle.

Essentially, the Hire Purchase funding option is best suited to those customers who want simplicity. With the funding secured against the vehicle, finance acceptance may be easier to obtain than an equivalent unsecured personal loan and as such can help in protecting the customers first line of credit, the amount of money that the customers bank will lend without asking for further security.