Finance Options
Vehicle Funding Options From Toyota Fleet Management
Toyota Fleet Management has a AA credit rating (through Toyota Motor Corporation) and as such has access to very competitive funds sourced locally and overseas. We are committed to continuously reviewing your vehicle funding options to ensure that each asset type is on the optimal arrangement.
Toyota Fleet Management boasts a full suite of funding options including:
Operating Lease
An operating lease is an off balance sheet asset funding option for businesses who do not want to take on the risk of selling the vehicle at the end of the lease. The customer may choose any or all of the Fleet Management Services as part of their monthly payment.
Finance Lease
Under the present ATO residual value guidelines, a finance lease offers the customer the lowest monthly payments. A finance lease transfers the risk of ownership to the customer without transferring legal ownership. Toyota Fleet Management provides a fixed interest rate for terms between 12 and 84 months. At the conclusion of the lease, Toyota Fleet Management may extend the lease term for a further term, or allow the customer to pay out the lease and enter into a new lease agreement on another vehicle.
Novated Lease
A novated lease is a three-way agreement. The employee, as lessee, and the employer enter into a novated lease agreement with Toyota Fleet Management as the lessor. The employer makes payments to Toyota Fleet Management on behalf of the employee for the term of the novation, or until employment ceases. At the end of the lease, the employee pays the residual value to Toyota Fleet Management and has title to the vehicle.
Term Purchase
Term purchase transfers the risk of ownership to the customer and legal ownership when the final instalment is received. Toyota Fleet Management provides a fixed interest rate for terms between 12 months and 84 months. Customers may pay back the total cost in equal instalments or specify a balloon, depending on cash flow preferences. The balloon can generally be refinanced at maturity. The customer can pay out the vehicle at any time.
