Access Toyota

[noisyhen]

I recall seeing someone mention paying in full after three months when on Access Toyota but I of course cannot see this when I need it.

Basically I went down this route when buying as I was told I would only have to pay the interest on the three months loan if I paid the loan off in full at this time (plus a £85 fee).

I received my settlement figure which is basically £500 more than I was expecting.

What I would kind of like to know is what other buyers have been quoted doing the same?

I contacted the finance guy at the dealer I bought it from and he was ... well I don't think I should say!

[daveybee]

I had a similar experience although I can't remember the exact figure involved - I think it was somewhere between £450 & £500. It appeared to be some kind of admin fee that was never discussed when I signed up, but when I questioned the finance guy at the dealership, he just said it was for me to sort out with Toyota Finance as he didn't know what the charge was and having signed up with Toyota Finance, the contract was between them and me - nothing to do with the dealership. Bottom line is, I won't be buying through Toyota Access again (if their hybrid cars had viable alternatives, I'd think twice about buying Toyota again)!

Thinking about it, there was some kind of additional extra charge for paying by card, it had to be by cheque, but you can avoid that charge (think it was 2 or 3%) by giving permission to take the final amount via your monthly payment direct debit via phone to Toyota Finance. D.

[Jan&tone]

Cant remember paying any extra, but we paid by bacs transfer, not via thw direct debit ot card or cheque.

[Gav 18]

When I was buying my Auris my dealer said that if I took the Toyota finance (not sure if this is the same as Access Toyota?) they could knock another £500 off. He said that I could repay the finance straight away (confirmed in the Consumer Credit Act I believe) and the only penalty would be any interest incurred.

I managed to pay off the finance within the first month and the interest was around £100, so I made a net saving of around £400.

I paid it off via telephone using my Debit card if I remember correctly.

[noisyhen]

Strange that I was told I would have to wait 3 months as this was the earliest I could pay off in full, I will check this out. In fact the finance guy where I actually purchased the car from said it was 6 months but I've discovered what a clever man he is!

I haven't paid anything yet I've just received the pay back figure.

Oh well I got free 3 years servicing, £500 cash back (looks like they are taking this back to me) and a cost price car so I suppose I had to lose out somewhere, although I await Toyotas answer to the charges being substantially more than I was informed they would be.

First time buyer of a car on this scheme will be more aware in future.

[Cyker]

Never buy anything expensive with a credit card; There is a ~3% surcharge which is the handling fee charged by the credit card company.

Most retailers just absorb the cost, but car dealers always pass it on to you.

Debit cards aren't subject to this charge, nor are cheques, or direct debit. Bank transfers can attract a charge but it depends on how it's done.

I try to avoid buying things on finance because you have to read the fine print so carefully or get caught out; You practically have to be a solicitor to understand the mumbo jumbo on those agreements!

They often try to sweeten the pot as they get commission on stuff like that, but I've been stung too many times (Once buying a TV and again buying garage!) to risk it!

[Jan&tone]

The only reason we did the finance was to get an extra 1200 quid discount... We paid nothing like that in interest over the 3 payments we made, so all in all it was a good deal.

[noisyhen]

Debit cards aren't subject to this charge, nor are cheques, or direct debit. Bank transfers can attract a charge but it depends on how it's done.

Finance state that 2% interest on credit cards payments, 1% on debit cards, so advised to use bank transfer to avoid any charges.

Have requested they update dealers on the correct information to avoid any further unhappy/disillusioned customers so I await their comments.

[Jan&tone]

When you call them for a settlement figure they will not give it to you on the phone! They will send you a letter within a week.

On this letter will be a reference number, the settlement figure and details of how to pay. One of these details is detailed instructions as to how to pay direct to your account with Toyota Financial services via direct bank transfer.

It took me 2 minutes to pay the Aygo and even less to pay the Prius (experience pays )

Do not use credit or debit cards, why give them more than you need to?

[noisyhen]

When you call them for a settlement figure they will not give it to you on the phone!

My initial contact was by phone, a settlement quote was given immediately followed by a written quote.

[Jan&tone]

When you call them for a settlement figure they will not give it to you on the phone!

My initial contact was by phone, a settlement quote was given immediately followed by a written quote.

I obviously got a jobsworth! Data protection act etc... But hey, it all worked out and I wasn't worried about it, I didn't really expect them to give it to me on the phone....