Efficient cars, efficient finance and perfect business sense. Fleet solutions to get your business moving.

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1 Efficient cars, efficient finance and perfect business sense. Fleet solutions to get your business moving.

2 Toyota continues to push technology forward for today s constantly evolving world. Our long-standing commitment to revolutionary new ideas, like our innovative Hybrid Synergy Drive technology, is helping to make our planet a cleaner, safer place. The financial solutions we offer our valued business and fleet customers are just as forward thinking as you would expect from one of the world s largest automotive brands, with options built around your specific business needs. We re committed to complete customer satisfaction and offer affordable and flexible business and fleet finance solutions. We have a UK wide network of dedicated Toyota Business Centres as well as a team of highly experienced field based Fleet Development Managers. So, whether you run one car or a large fleet, our product knowledge enables us to deliver the most effective vehicle funding solutions for your business. With a wide selection of options from traditional Hire Purchase through to Lease Purchase and Contract Hire, we re sure to have a funding solution to meet your needs. Speak to us today about how funding through Toyota Financial Services can add value to your business. Why choose Toyota Financial Services? Choice & Flexibility with a comprehensive portfolio of funding options we will have a solution to meet your needs. Affordability with special business and fleet offers you can benefit from our long-term commitment to providing competitive business financing offerings. Convenience we can quickly offer and approve a credit facility which means we can pre-approve your Toyota vehicle purchases for the next 12 months. Dedicated Customer Service based here in the UK, our specially trained team of advisors are on hand to answer your questions so you can be assured of high quality customer service. 2

3 Toyota Contract Hire. If you have a VAT registered business you may find Contract Hire from Toyota Financial Services a straightforward and attractive option. You will benefit from: lower monthly rentals (as we reclaim the VAT on the vehicle price and pass the saving on to you) a proportion of the rental can be offset against taxable profit (see page 9 for summary of the rules) 50% VAT reclaimable on rentals fixed cost motoring making budgeting easier use without the risks of ownership no depreciation or residual value risk protection against any fall in used vehicle prices optional maintenance package covers unexpected costs (100% VAT is reclaimable on maintenance charges) maintenance element is allowable against tax improved cash flow minimum administration and no responsibility for the disposal of the vehicle Road Fund Licence renewal included for the period of the contract. Service & Maintenance - what s included? all routine servicing and maintenance due to fair wear and tear including all parts and labour costs is covered. Services can be arranged at any authorised Toyota Service Outlet across the UK tyres - replacement due to fair wear and tear Roadside Assistance - provided by the AA for the period of your maintained contract. This includes: - Recovery - if the AA is unable to fix your car at the roadside, or arrange a prompt local repair at a Toyota Service Centre, they will take you to a single destination of your choice within the UK - regardless of how far this might be - At Home - AA assistance if you breakdown at your home - Onward Travel - If you car can't be repaired in a reasonable time you will be offered a free replacement car for up to 48 hours - European Roadside Assistance in 44 European countries - Accident Assistance - an Accident Assistance service has been extended for the period of each contract in conjunction with the AA, the car can be recovered to a Toyota Approved Bodyshop - the Toyota Approved Bodyshop will provide an estimate to insurers and ensure the vehicle is repaired as quickly as possible - assistance with completing claim forms and paperwork. What s not included? petrol and topping up of oils between services any form of paintwork repair or respraying accident or impact damage e.g. a puncture shattered windscreen or any glass driving penalties or parking fines. These will be forwarded to the customer and will incur a nominal administration fee. Option If you're on a fully maintained contract you can choose to take a relief vehicle option, either due to breakdown or accident and breakdown, after 24 hours for up to 28 days. 3

4 Hire Purchase. Finance Leasing. A traditional financing method that allows you to drive the car of your choice and spread the payments over an agreed period. You will enjoy: reduced capital outlay manage your budget with fixed monthly payments, spread over an agreed period to suit you interest rate is fixed for the whole period vehicle can be treated as a balance sheet asset writing down allowances are claimable (see page 9) finance charges exempt from VAT (beneficial to non VAT registered businesses) finance charges are allowable against tax, which reduces your tax liability ownership at the end of the agreement. Lease Purchase. With Lease Purchase, you choose an amount to defer to the end of the agreement. This is known as a balloon or residual value which becomes your final payment. This has the effect of lowering the monthly payment or shortening the agreement period. gives your cash flow greater flexibility initial capital outlay reduced eventual ownership of the vehicle finance charges allowable against tax vehicles funded as a balance sheet asset write down allowances are claimable (see page 9) monthly payments fixed over an agreed period. Finance leasing is another cost effective option offering useful tax advantages particularly for VAT registered businesses. It allows you to share in the profit (or loss) made on the sale of the car at the end of the agreement. lower monthly payments a proportion of the rental can be offset against taxable profit (see page 9 for a summary of the rules) rentals are allowable against tax 50% VAT is reclaimable on rentals vehicle can be treated as a balance sheet asset you can exchange the vehicle at the end of the agreement for a new one. there are two forms of Finance Lease; Full Payout and Balloon Lease. Full Payout You spread the cost of the vehicle over the period chosen and, at the end of the agreement, must sell the vehicle to a third party. You then receive a proportion of the sale proceeds as determined at the start of the agreement. Alternatively at the end of the period the agreement can continue into a secondary period where you pay a nominal secondary rental called peppercorn rental. Balloon Lease You offset an amount to the end of the agreement to lower the payments. At the end of the agreement you sell the vehicle to a third party and keep any proceeds of the sale over the amount of the balloon. If there is any shortfall however you will be responsible for covering the shortfall amount. 4

5 AccessToyota. Gets your business moving. AccessToyota, is available to all business users from sole traders to limited companies on new Toyota passenger cars, Light Commercial Vehicles * and Toyota Approved Used vehicles. AccessToyota is a flexible and affordable way for business users to drive the Toyota they want today. How does it work? First, choose the model you would like to drive and agree the mileage you expect to cover. Then choose the period over which you would like to pay and the deposit, if any, that you want to put down (up to a maximum of 35%) and you ll get a minimum Guaranteed Future Value (GFV) for the vehicle with Toyota Financial Services. This will be your final payment if you decide to keep your car or you have the option to part exchange the car at the end of the agreement. Your monthly payments could be more affordable than you might think because they are based on the difference between the purchase price less your deposit and the GFV, plus of course the finance charges on the total amount of credit. AccessToyota is ideal if you want the flexibility of choosing a term to suit you between 24 and 36 months and want to fix your monthly outgoings for the duration of the agreement. You can also benefit from being able to claim writing down allowances, reduce your capital outlay and have a guaranteed future value for your vehicle with TFS. At the end of your agreement you have 3 flexible choices: 1. You can upgrade the car for a new one using any excess of the trade in value above the guaranteed future value towards your deposit** 2. Keep the vehicle by paying the final payment** 3. Return the vehicle with nothing more to pay, subject to maximum mileage, fair wear and tear conditions being met, and a collection fee of 100 plus VAT. ** With these two options you are responsible for paying a nominal option to purchase fee. AccessToyota is available on new and certain used passenger cars and LCVs. This is with the exception of taxis, some driving schools and vehicles involved in competition or for hire or reward. Your Toyota Centre will advise which vehicles are eligible and what conditions apply. * Vans require ply lining to be eligible for AccessToyota 5

6 What is Toyota Purchase Protection and do I need it? Toyota Purchase Protection is a great way to protect your investment in your vehicle in the unfortunate event that your car is written off. It's quick to arrange and should you need to claim, could provide a valuable benefit to you. Have you considered that if your car is written off as a result of an accident, fire or theft, your motor insurance company may only pay out the current Market Value for your vehicle. The current Market Value is likely to be less than the amount you paid for the vehicle and if you have finance it could be less than any outstanding finance settlement. This could potentially leave you with the problem of having to find extra funds to get you back into the driving seat of a new Toyota or pay off your finance agreement. For example, if your vehicle costing 15,000 is written off at 36 months, your motor insurance company may only pay out the current Market Value which might only be 8,000. In this case you would be left with a shortfall of 7,000. Purchase Protection enables you to purchase a similarly priced vehicle or alternatively pay off the amount outstanding on your finance agreement. What s more, even if the finance settlement amount is greater than the *Net Invoice Price, you don t need to worry as purchase protection will cover this additional amount. - our cover protects the vehicle you have purchased for a maximum of 36 months - the cover applies to all Toyota vehicles with a Net Invoice Price of up to 75,000 - there is no maximum claim limit up to the Net Invoice Price of your vehicle Market Value means the greater of: a) The value of the Insured Vehicle (excluding contents) at the Date of Loss as assessed by the insurers of the Motor Insurance; or b) The Market Value of the Insured Vehicle (excluding contents) as at the Date of Loss by reference to Glass s Guide Retail Value. Net Invoice Purchase Price - the amount that you have paid, as it relates to the vehicle itself, it does not include non-dealer fitted options and extras such as the road fund licence. 6

7 Your cover at a glance The table summarises the cover available: Purchase Protection Returns you to the Net Invoice Price of your vehicle (which can be used to pay off any outstanding finance on your vehicle)^ Maximum vehicle price 75,000 Maximum period of cover 36 months ^ Should the finance settlement figure be greater than the Net Invoice Price the benefit will be calculated as the difference between the finance settlement figure and the market value and will be paid direct to your finance company on your behalf. Eligibility criteria For full details ask your Centre for the terms and conditions. 1) The vehicle must be registered and principally used in the UK. 2) Toyota vehicles costing more than 75,000 are excluded. 3) Non-Toyota vehicles costing more than 25,000 are excluded. 4) The vehicle must be covered by fully comprehensive motor insurance. 5) The vehicle must be in Glass s Guide, not a commercial vehicle over 3.5 tonnes, and not an imported vehicle unless manufactured as a right hand drive and purchased from an authorised UK distributor. 6) Vehicles on Contract Hire or Leasing are excluded. Toyota Financial Services status disclosure Toyota Financial Services (UK) PLC, (TFS) offers Purchase Protection from a single provider, Aioi Nissay Dowa Insurance Company of Europe Limited. Toyota Purchase Protection is administered by Abraxas Insurance Administration Services Limited. TFS is an agent of the insurer in respect of the sale of these products and is authorised and regulated by the Financial Conduct Authority (FCA) since 1 April 2013 registered number FRN This can be verified at the FCA website register or by phoning If you wish to make a complaint you should in the first instance contact the Administrator, Abraxas Insurance Administration Services Ltd, PO Box 520, Bristol, BS34 9BW. Or write to: Head of Compliance, Aioi Nissay Dowa Insurance Company of Europe Limited, 5th Floor, 11 Old Jewry, London EC2R 8DU. If you remain dissatisfied, you may refer the matter to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E149SR Tel: For more information on Toyota Purchase Protection insurance from TFS pick up a brochure in your Toyota Centre or visit toyota.co.uk and click on the finance section. 7

8 Personal Tax for Company Car Drivers. All company car drivers are taxed on the basis of benefit in kind (BIK) the benefit they receive by having their company car available for private use. The level of tax paid is based on the CO2 emissions of the car. Company Car or Cash? The CO2 rating is compared to the table shown to determine the percentage of the car s price on which tax will be paid. For example: A company car with a list price of 18,300 and with a CO2 rating of 140g/km would be taxed as follows for 2013/14: 18,300 x 20% = 3,660 This figure is then subject to the personal rate of tax to determine the cost in tax to the individual. e.g. A 40% tax payer pays 3,600 x 40% = 1,464 in that tax year An increasing number of companies are deciding to offer their employees the opportunity to take an increase in salary or a monthly vehicle allowance in substitution of the traditional company car as this may be more tax efficient for the individual. However, they will pay tax on any car allowance the company gives them as a replacement. Note that these are examples for illustration purposes. Your circumstances are individual to you and you should consult your own tax advisor where appropriate. Diesel Supplements and Euro IV Emission Standards The figures in the table (right) illustrate the percentage of a car s price to be taxed and also show the percentage supplement to be added for diesel vehicles (indicated by^). The supplement applies to all diesel vehicles registered from 1 January

9 Company car tax benefit rates 2012/2015 Taxable percentage of list price CO2 (g/km) 2012/ / / up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to up to In all instances the exact CO2 figure is rounded down to the nearest 5g/km. Diesel supplements: Add 3%. (subject to the overall maximum percentage of 35%). Capital Allowances based on CO2 emissions Since April 2013 the following legislation applies: 1) New company cars with CO2 emissions of over 130g/km will attract a 18% write-down allowance on a reducing balance basis. 2) New company cars with CO2 emissions above 130g/km will attract only 8% write-down allowance on a reducing balance basis. 3) A 100% first year allowance applies to cars with emissions of 95g/km or less. Lease Rental Restriction (Leasing disallowances) Leasing disallowances are also based on the emissions of the vehicle. From April 2013 new cars with CO2 emissions of 130g/km or less are eligible for 100% of their lease payments to be offset against corporation tax. (i.e will have no element of their leasing cost disallowed). Whilst cars with emissions above 130g/km will have a flat 15% of the finance rental element of their leasing cost disallowed (i.e 85% of their lease payments can be offset against corporation tax). 9

10 Vehicle Excise Duty (VED). From 1 May 2009 a 13 band VED system was introduced based on CO2 emissions of the vehicle. The table shows the VED charges which are reflected in Toyota s pricing. In 2011/12 new first year showroom rates apply. The first year zero VED rate will include all new cars emitting 130g/km of CO2 or less and the rate increases, as the CO2 rises. Budget 2011 announced that from 1 April 2011, VED rates will increase in line with RPI inflation and Heavy Goods Vehicle rates will be frozen. Vehicle Excise Duty bands and rates for cars registered on or after March 2001 (graduated VED) VED bands VED Band CO2 emissions g/km 2012/ / First year rate 2 Standard rate 1 First year rate 2 Standard rate 1 A Up to B C D E F G H I J K L M Over Alternative fuel car discounts; 2009/10 20 bands A - I, 15 bands J - M, 2010/11 10 all cars, 2011/12 10 all cars, 2012/13 10 all cars, 2013/14 10 all cars. 2 First year rate or 'showroom tax' applies to new car purchases only. Rate reverts to 'standard rate' in subsequent years. 3 Includes cars emitting over 225g/km and first registrated between 1 March 2001 and 23 March 2006.

11 Fleet and Business Financing. A summary of the benefits plan by plan Contract Hire Leasing AccessToyota Lease Purchase Hire Purchase Reduced capital outlay Fixed payments Simple budgeting Extra credit line Cashflow benefits Off balance sheet funding No vehicle disposal problems o No depreciation risk o Fixed maintenance costs o Relief vehicle o AA Roadside Assistance for the duration of the contract Tax benefits at a glance, plan by plan Contract Hire Leasing AccessToyota Lease Purchase Hire Purchase Finance charges allowable against tax Writing down allowances claimable Rentals allowable against tax (see note 1) VAT on purchase reclaimable for 100% business use Finance element not subject to VAT Rentals VAT reclaimable (see note 2) 50% 50% Maintenance VAT reclaimable 100% = standard o = optional 1: A 15% restriction applies to cars with a CO2 emission over 130g/km. 2: 100% of the VAT on rentals can be reclaimed on cars used exclusively for business and on commercial vehicles. If any private use of car occurs (e.g. taking it home at night), 50% of the VAT is reclaimable. It should also be noted that this could be lower depending on the individual VAT recovery position of the business. All the finance products described in this brochure are generally available on new cars, used cars and light commercial vehicles, all vans need to be fitted with ply lining in order to be eligible for AccessToyota. Please ask your Toyota Business Centre for further details. 11

12 Finance subject to status to over 18s. Indemnities may be required. Terms and conditions apply. Toyota Financial Services (UK) PLC Great Burgh, Burgh Heath, Epsom, Surrey KT18 5UZ. toyota.co.uk GBNGY-0097T-BR (May 2013) Disclaimer The information contained within this brochure is for guidance only. Companies and individuals should always consult their accountants or tax advisors on their individual situation.

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