Toyota Hire Purchase Calculator
Calculate your Toyota Hire Purchase monthly payments for Yaris, Corolla, RAV4, C-HR, Prius. Get instant quotes with our free Toyota HP finance calculator.
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Toyota Hire Purchase Calculator
Your Toyota Hire Purchase Results
Amount to be financed
£21,250.00
Monthly payment
£507.87
Term
48 months
Total Amount Paid
£28,127.87
Total interest
£3,127.87
You own the car after
48 months
About Toyota Hire Purchase
Toyota Hire Purchase is a straightforward way to finance your Toyota.You pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the car.
Toyota Financial Services offers competitive HP rates, typically ranging from 4.9% to 9.9% APR. Unlike PCP, there's no final balloon payment - you make equal monthly payments throughout the term.
Toyota HP is ideal if you want to own your Toyota outright and prefer predictable monthly payments. You can also settle the agreement early to save on interest charges.
Toyota Hire Purchase FAQs
What is Toyota Hire Purchase?
Toyota Hire Purchase (HP) is a straightforward financing option where you pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the Toyota.
How does Toyota HP differ from PCP?
Unlike Toyota PCP, Hire Purchase has no final balloon payment. You make equal monthly payments throughout the term and automatically own the car at the end. HP typically has higher monthly payments but lower total cost.
What Toyota models are available on HP?
All Toyota models are available on Hire Purchase including the Yaris, Corolla, RAV4, C-HR, Prius. Toyota also offers HP on their vehicles with competitive rates and flexible terms.
What is the typical APR for Toyota HP?
Toyota HP APR rates typically range from 4.9% to 9.9% depending on the model and your credit profile. Toyota often offers promotional rates on selected models, sometimes as low as 0% APR.
How much deposit do I need for Toyota HP?
Toyota HP typically requires a minimum deposit of 10-20% of the car's value. For a £25,000 Toyota, you'd typically need a £3,750-£5,000 deposit. You can put down more to reduce monthly payments.
Can I get Toyota HP with bad credit?
Toyota Financial Services offers HP to customers with various credit profiles. Those with excellent credit will get the best rates, but Toyota will work with you to find suitable terms based on your circumstances.
Can I pay off Toyota HP early?
Yes, you can settle your Toyota HP agreement early. You'll receive a settlement figure that includes any outstanding balance minus interest charges. Early settlement can save you money on interest.
What happens if I miss Toyota HP payments?
Missing Toyota HP payments can result in late fees and may affect your credit rating. Toyota Financial Services will contact you to discuss payment options. In severe cases, they may repossess the vehicle.
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