Toyota financing in Australia
If you’re looking for finance for a new or used Toyota, you’re certainly not alone. Toyota is comfortably Australia’s most popular car brand, selling over 241,000 vehicles in 2024. That’s more than double the sales of its closest competitors, Ford (100,170) and Mazda (95,987).
The Toyota RAV4 was Australia’s second-best-selling car in 2024, just behind the Ford Ranger, while the Toyota HiLux closely followed in third. The popular Toyota Corolla also secured a spot in the top 10 best-selling cars of the year.
There’s certainly no shortage of Toyota finance options either, with dozens of car loan lenders competing to attract the large numbers of Toyota buyers. Comparing your options is key, as getting the best Toyota finance interest rate will make a big difference to your overall costs.
Toyota finance options at a glance
- Finance for popular Toyota models, including Corolla, Camry, RAV4, HiLux and more
- Low rate secured car loans
- Toyota commercial finance options
- Novated lease for Toyota available
- Borrow up to $150,000
- Fixed or variable interest rate
- Finance terms from 1 - 7 years
- Flexible repayment options
- Pre-approval available
Toyota finance interest rates compared
Compare a selection of car loan interest rates for various Toyota models to see your estimated monthly repayments.
Toyota model | Yaris (Ascent Sport) |
|---|---|
Estimated cost | $25,880 |
Monthly repayments (6% p.a. interest) | $500 |
Monthly repayments (8% p.a. interest) | $525 |
Monthly repayments (10% p.a. interest) | $550 |
Toyota model | Corolla (Ascent Sport Hybrid) |
Estimated cost | $32,110 |
Monthly repayments (6% p.a. interest) | $621 |
Monthly repayments (8% p.a. interest) | $651 |
Monthly repayments (10% p.a. interest) | $682 |
Toyota model | Camry (Ascent Hybrid) |
Estimated cost | $39,990 |
Monthly repayments (6% p.a. interest) | $773 |
Monthly repayments (8% p.a. interest) | $811 |
Monthly repayments (10% p.a. interest) | $850 |
Toyota model | CH-R (GXL Hybrid) |
Estimated cost | $42,990 |
Monthly repayments (6% p.a. interest) | $831 |
Monthly repayments (8% p.a. interest) | $872 |
Monthly repayments (10% p.a. interest) | $913 |
Toyota model | RAV4 (GX - AWD Hybrid) |
Estimated cost | $45,260 |
Monthly repayments (6% p.a. interest) | $875 |
Monthly repayments (8% p.a. interest) | $918 |
Monthly repayments (10% p.a. interest) | $962 |
Toyota model | HiAce (LWB) |
Estimated cost | $48,886 |
Monthly repayments (6% p.a. interest) | $945 |
Monthly repayments (8% p.a. interest) | $991 |
Monthly repayments (10% p.a. interest) | $1,034 |
Toyota model | HiLux (SR - 4X4 Dual Cab) |
Estimated cost | $55,190 |
Monthly repayments (6% p.a. interest) | $1,067 |
Monthly repayments (8% p.a. interest) | $1,119 |
Monthly repayments (10% p.a. interest) | $1,173 |
Toyota model | Kluger (GX - AWD Hybrid) |
Estimated cost | $60,920 |
Monthly repayments (6% p.a. interest) | $1,178 |
Monthly repayments (8% p.a. interest) | $1,235 |
Monthly repayments (10% p.a. interest) | $1,294 |
Toyota model | Prado (GX) |
Estimated cost | $72,500 |
Monthly repayments (6% p.a. interest) | $1,402 |
Monthly repayments (8% p.a. interest) | $1,470 |
Monthly repayments (10% p.a. interest) | $1,540 |
Toyota model | Landcruiser (LC300 GX - 4X4) |
Estimated cost | $96,991 |
Monthly repayments (6% p.a. interest) | $1,875 |
Monthly repayments (8% p.a. interest) | $1,967 |
Monthly repayments (10% p.a. interest) | $2,061 |
| Toyota model | Estimated cost | Monthly repayments (6% p.a. interest) | Monthly repayments (8% p.a. interest) | Monthly repayments (10% p.a. interest) |
|---|---|---|---|---|
Yaris (Ascent Sport) | $25,880 | $500 | $525 | $550 |
Corolla (Ascent Sport Hybrid) | $32,110 | $621 | $651 | $682 |
Camry (Ascent Hybrid) | $39,990 | $773 | $811 | $850 |
CH-R (GXL Hybrid) | $42,990 | $831 | $872 | $913 |
RAV4 (GX - AWD Hybrid) | $45,260 | $875 | $918 | $962 |
HiAce (LWB) | $48,886 | $945 | $991 | $1,034 |
HiLux (SR - 4X4 Dual Cab) | $55,190 | $1,067 | $1,119 | $1,173 |
Kluger (GX - AWD Hybrid) | $60,920 | $1,178 | $1,235 | $1,294 |
Prado (GX) | $72,500 | $1,402 | $1,470 | $1,540 |
Landcruiser (LC300 GX - 4X4) | $96,991 | $1,875 | $1,967 | $2,061 |
Types of Toyota finance options available
1
Secured loan
A popular option is a secured car loan, where the Toyota you purchase is used to secure the loan, reducing the lender’s risk. If you default on the loan, the lender has the right to repossess and sell the car to recover the outstanding debt. Loan terms generally range from 1 to 7 years, with options for either fixed or variable interest rates.
2
Unsecured loan
An unsecured personal loan works similarly to a car loan but doesn’t require the Toyota to be used as security. Since the loan isn’t secured by an asset, lenders typically charge higher interest rates to offset the added risk. Aside from this difference, unsecured loans pretty much work the same as car loans.
3
Novated lease
If it’s offered by your employer, you can finance a Toyota for personal use through a novated lease. There are major tax advantages to a novated lease compared to a car loan. It allows you to pay for your Toyota as well as running costs (fuel, car insurance, etc.) using your pre-tax salary. You’ll also get a GST discount on the vehicle’s cost and ongoing expenses. However, it’s important to weigh the pros and cons of novated leasing before making a decision.
4
Finance lease
If you prefer the flexibility of not owning your Toyota right away, a finance lease might be a suitable option. With a lease, you make regular payments to the lender, who purchases the vehicle on your behalf and retains ownership throughout the lease term. At the end of the lease, you may have the option to either take out a new lease or buy the car outright.
5
Chattel mortgage
If you’re going to be using your Toyota for business purposes most of the time (i.e. more than 50% of the time), you could be eligible for a type of business vehicle finance known as a chattel mortgage. This works in much the same way as a secured car loan, but with additional tax benefits for businesses.
Toyota dealer finance
Toyota Access Loan
The Toyota Access Loan offers a fixed rate with loan terms of up to 4 years. It provides flexible end-of-loan options, including trading in your Toyota, keeping it or returning it. The loan also has the option of a balloon payment, which lowers monthly repayments but requires a lump sum payment at the end of the term.
At the end of the finance contract, Toyota will determine the Guaranteed Future Value (GFV) of the vehicle. If you decide to return it, Toyota will pay you the agreed GFV, which will be applied to your final payment, subject to certain conditions and agreed kilometres.
Fixed Rate Car Loan
The Fixed Rate Car Loan offers loan terms of up to 7 years, with a fixed interest rate, as the name suggests. Toyota provides borrowers with a personalised repayment plan and interest rate, which is honoured at all dealerships across Australia.
Unlike the Toyota Access Loan, with the Fixed Rate Car Loan, you will fully own the vehicle once all payments under the contract are made. If there is a balloon payment, you have the option to pay it in full or refinance it. Balloon refinancing is subject to Toyota's standard lending criteria.
Here are some of the fees associated with Toyota’s dealer finance offers:
- Establishment fee: $395
- Vehicle security registration fee: $6
- Account administration fee: $8/month
- On-charged dealer agency fee: $912.25
Additional fees may apply, including payment processing fees, dishonour and late payment fees, and fees for requesting information about your contract.
If you're eligible, Toyota also offers novated leasing options, provided your employer participates in the program.
How to get the best Toyota car finance deal
To get the best deal on your Toyota car finance, follow these steps:
Shop around
Compare finance options from banks, credit unions, specialist lenders and Toyota’s dealer finance. It’s worth noting that some dealer finance offers come with an introductory rate that reverts to a higher rate after a period of time. If Toyota finance is for you, look for a low rate throughout the entire term.
Review the finance term
Watch out if you’re offered a loan term that’s longer than it needs to be. While a longer term means lower monthly repayments, it will result in higher overall interest charges. For example, if you take out a loan for a Toyota RAV4 worth $45,260 with an interest rate of 8% p.a., you'll pay $4,193 more in interest over a 7-year term compared to a 5-year term.
Check fees
Some lenders charge an application fee and ongoing fees. These can really add up. Other fees to be mindful of include late payment fees or charges for paying off your loan or dealer finance early. Regardless of how you finance your Toyota, chances are there’ll be fees so make sure they are low and don’t outweigh the benefits of a good interest rate.
Consider repayment flexibility
Having the option to make extra repayments without incurring a fee gives you the flexibility to pay off your loan early, potentially reducing the amount of interest you pay over time. This can help you save money by lowering the overall cost of the loan. Another factor to consider is whether you can choose to repay the loan in weekly, fortnightly or monthly installments, depending on what best suits your financial situation.
Eligibility for Toyota car finance
The eligibility criteria for a Toyota car loan will vary from lender to lender, but generally you’ll need to be:
- Over 18 years of age
- An Australian citizen or permanent resident
- Employed with sufficient income to afford the loan repayments
- Able to meet the lender’s other credit criteria (credit score, other debt, etc.)
How to apply for Toyota finance
If you’re looking at taking out a car loan, here’s a quick overview of the steps involved when applying:
- Compare your personalised quotes from a range of lenders
- Choose the best deal for you or use a car loan broker if you don’t want to go it alone
- Make an application with the lender
- Provide documents to support your application (e.g. payslips and bank statements)
- Hang tight while your finance application is assessed
If successful, you’ll be given either car loan pre-approval up to a certain amount (this means you can go find a Toyota to buy based on the pre-approved amount), or final approval if you have already decided on the model you want to buy.
With some lenders it’s possible to apply for and be approved for Toyota finance the same day.
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