Toyota Financial Services has begun a range of 0% APR offers through its AccessToyota-branded PCP package on its Yaris and Auris hybrid models.
The Auris hybrid also comes with a £1,000 finance deposit allowance and other models in the Aygo, Yaris, iQ, Auris and Verso ranges will also qualify for the offer, which runs until 30 September.
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On a 36-month term with a 23.47% (£3,859.20) deposit, the Yaris Hybrid T4 will be available from £169 a month with a guaranteed future value (GFV) of £6,670.80. On the same term length with a 30.15% (£5,148.88) deposit, the Auris Hybrid Icon will be available from £199 a month with a (GFV) of £7,281.12.
Toyota joins Chevrolet and Seat, among others, in highlighting its Q3 offers.
Best of both worlds
Speaking to Motor Finance in August 2012, Doug Gillies, managing director of the finance captive partner to Toyota and Lexus, explained both brands had begun a "change cycle management strategy" in 2008, with a heavy focus on PCP.
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By GlobalDataGillies said the PCP model was geared to "conquer new customers and retain existing customers with a strong, consumer proposition based around affordability and accessibility".
Together AccessToyota and Lexus Connect, the equivalent PCP product for Toyota’s luxury sister brand, saw an average growth of 63% in 2012, according to Gillies.
Writing in October 2012, Gillies also defended the use of 0% APR in the marketing of cars, saying it provided "a strong affordability message" to the customer, something Experian recently commented had changed consumer car-ownership habits, particularly around PCP.
Fuel alternatives, finance offers
Web-led car finance broker Car Loan 4U said in May it expected hybrids and plug-in vehicles to dominate London roads following changes to the congestion charge in the capital.
Meanwhile, similar to Experian’s hypothesis of a shift in affordability, British Gas, Hitachi Capital and RCI Banque, captive partner to Renault and Nissan and which finances a range of electric vehicles (EVs), as well as Car Loan 4U, spoke of their efforts to reduce the cost owning an EV.
At the same time, there has been a warning sign from the US over GFVs on alternatively-fuelled vehicles as Tesla Motors has been forced to recalculate the residual value offered on finance for its Model S sedan.
richard.brown@timetric.com
