Are you looking for the best auto loan and wondering if Toyota Financing is the best deal? If the Toyota credit has the best rate? Best Lender brings you the answer.
Credit Toyota Financement, what is this business?
Toyota France Financement is the financial sector of the Toyota group in France. Its role is to offer Toyota credit and financial products to support the sales of its vehicles. Knowing that more than one vehicle in two is financed on credit, Toyota could not fail to offer this service to its customers.
Toyota Financement offers a Toyota credit (classic car credit) as well as a Toyota LOA (rental with option to buy) or the Toyota combination which is actually a Toyota LOA with maintenance included.
You can find information on Toyota credit and other financial services on www.toyota.fr in the finance and insurance section. On the other hand, we did not find an automatic simulation for the Toyota credit rate on the site… but we will come back to it.
Toyota Credit: Toyota France Financing Has the Best Rate?
We are not going to go there by 4 paths, Toyota financing through Toyota credit is expensive. Take the example given on the Toyota website: for a credit of $ 10,000 (probably a Toyota Yaris credit) over a period of 60 months, the fixed APR announced is 6.90%! Or 60 monthly payments of $ 196.70 for a total cost of the Toyota credit of 11,804.82 USD and therefore an interest cost of 1,804.82 USD including 190 USD in administration fees!
By way of comparison, at Best Lender, the best car loan rate for the same amount and the same duration is offered at the fixed APR rate of 4.50% (recorded at Bankate on 09/11/2014), ie a total cost of credit of 11,161.20 USD and a total interest cost of 1,161.20 USD.
Thanks to Best Lender, you can therefore save more than 600 USD on the cost of Toyota credit by taking the best car loan on the market.
But do not forget to compare and perform a car loan simulation, it is the only way to know if you will benefit from the best car loan rate.
We therefore go further than a simple comparator to offer better than Toyota credit, we offer a service like an online car credit broker. Because what interests us is that our customers really get the best rate possible.
Moreover, like any self-respecting broker, we are officially registered in the ORIAS register, the official file of intermediaries in banking and credit operations. You will find our number at the bottom of the page.
The Toyota LOA, or rental with option to buy Toyota has advantages and also disadvantages. Its advantage is to allow you to change your car regularly (usually every 3 years) without having to worry about the resale of your old vehicle. But the flip side of the LOA Toyota, as with virtually all LOA, is that this product is expensive, more expensive than Toyota credit.
Take the example of a Toyota Yaris at 179 USD per month in LOA Toyota financing. The offer for this rental with Toyota purchase option breaks down as follows: LOA Toyota Yaris 179 USD / rent 179 USD over 49 months / price of new vehicle after delivery: 11,500 USD (Toyota Yaris MC69 VVT-i Tendance 3 ports). Value of the purchase option: 5,550 USD.
Or a total amount in the event of acquisition of the Yaris by LOA Toyota at 179 USD per month: 14,321 USD.
If you finance the same car with a Toyota credit whose Fixed APR indicated on the Toyota site is 6.50% over the same period of 59 months, the total cost of the credit is 13076 USD. Or more than 1200 USD less for the Toyota credit . And as, we saw previously that you could find cheap car loans thanks to Best Lender and a 12000 USD loan, we let you decide if you are ready to pay thousands of USD more not to have to manage the resell your vehicle and take a Toyota LOA.