Toyota Financial Services (TFS) has introduced its Toyota Access guaranteed value program to pre-owned vehicles.
Available exclusively on 'Toyota Certified Pre-Owned' vehicles, the scheme allows buyers to tailor a package based on usage, from light usage at 80,000km to heavy usage at 200,000km.
Vehicles eligible for the Toyota Access guaranteed future value offer have to be under five-and-a-half years old at the start of the loan term.
The value of the vehicle is determined by analysis of sales results of similar models, new model data, economic factors, and the agreed end odometer reading.
At the end of the loan, a 'guest' is able to sell their vehicle back to Toyota Financial Services for the guaranteed future value, subject to fair wear and tear conditions and kilometre allowance, or choose to buy it outright or trade it in for another model.
"Toyota Access determines the value of a vehicle at the end of a loan term by analysing sales results of similar cars, new model data, economic factors and factoring in an agreed end odometer reading," the company said in its media release.
The Toyota Access initiative was first introduced in 2012, and has since been part of over 100,000 finance contracts in Australia.
"Toyota Access was one of the first GFV products in Australia and has been massively successful as it is a win for dealers and consumers,” said Craig Neville, Toyota Financial Services general manager for retail finance and insurance.
"In the development of the product, we worked collaboratively across the entire business to ensure we could provide the guest with the certainty of knowing what their vehicle will be worth at the end of their loan term."
"Sales of new vehicles has often been the focus for manufacturers and extending Toyota Access across Toyota Certified Pre-Owned Vehicles shows our commitment in supporting all of our guests," he added.
Toyota Certified Pre-Owned Vehicles have a full service history, an independent background check, a quality inspection by a qualified Toyota technician, and 12 months of Toyota roadside assist.