TOYOTA FINANCE Access Fair Wear and Tear User Guide

TOYOTA FINANCE Access Fair Wear and Tear

Specifications

• Preparation date: October 2023
• Website: toyota.com.au/access

Product Information

The Toyota Access Fair Wear and Tear Guide is designed to provide guidelines on the acceptable condition of your vehicle at the end of your contract. It helps determine fair wear and tear based on your usage and maintenance obligations as outlined in your Toyota Access contract.

Product Usage Instructions

What is Fair Wear and Tear?

Fair wear and tear refer to the reasonable deterioration in the repair, working order, and appearance of your vehicle consistent with your obligations to use and maintain it.

Relevance to Toyota Access Contract

Your Guaranteed Future Value (GFV) is based on returning the vehicle in good condition. Failure to meet the Fair Wear and Tear Guide may result in a reduced GFV amount.

Assessment of Fair Wear and Tear

Prior to contract expiry, Toyota Finance will assess your vehicle’s condition and odometer reading. Failure to meet the guidelines may lead to adjustments in the GFV.

Avoiding Fair Wear and Tear Adjustment

1. Maintain your vehicle in good order and repair.
2. Adhere to recommended servicing schedules.
3. Avoid exceeding agreed-upon kilometre limits.

Tips for Meeting Fair Wear and Tear Guidelines

Regular servicing, preventive maintenance, and responsible usage are key to meeting the Fair Wear and Tear Guide requirements.

For more information and examples of fair wear and tear, visit toyota.com.au/access.

Important Notice

This Fair Wear and Tear Guide (the Guide) is only applicable if you return your Vehicle on the expiry date. It is to be read with your Toyota Access contract.

It is important that you are familiar with this Guide. It provides a basis for determining what is reasonable fair wear and tear for a vehicle at the end of your contract, based on the term and agreed number of kilometres (End Odometer) as set out in your Toyota Access contract.

What is fair wear and tear?

Fair wear and tear means the deterioration in the repair, working order and appearance of your Vehicle as is reasonably consistent with your obligations to use and maintain your vehicle, by:

• Your Toyota Access contract, which requires you keep your Vehicle in good order and repair.
• This Guide, which defines acceptable damage and wear, along with examples of what Toyota Finance will not accept as fair wear and tear.

Why is fair wear and tear relevant to my Toyota Access contract?

Toyota Finance has based the Guaranteed Future Value (GFV) for your Vehicle on being returned in good and proper working order (fair wear and tear excepted). It is also based on the number of kilometres that your Vehicle will travel over the contract term, i.e. the End Odometer. If your Vehicle is not returned to Toyota Finance in an acceptable condition, an adjustment will be made to the GFV, resulting in payment of a reduced GFV amount.

When will the assessment of fair wear and tear be made?

Prior to the expiry date of your contract, Toyota Finance will contact you to ask whether you are proposing to return your Vehicle on the expiry date in return for Toyota Finance paying you the GFV nominated in your Schedule. Toyota Finance’s assessment will be based on the condition of your Vehicle at that time and whether it meets this Guide. Toyota Finance will also check the odometer to determine whether an Excess Kilometre Usage Adjustment will apply.

What happens if the Vehicle meets this Fair Wear and Tear Guide?

If your Vehicle meets this Guide and has not travelled more kilometres than agreed, Toyota Finance will apply the GFV to your contract to meet your final payment.

What happens if the Vehicle does not meet the Fair Wear and Tear Guide?

Where the Vehicle does not meet this Guide or has travelled more kilometers than agreed, Toyota Finance may reduce the GFV by the estimated cost of repairing or restoring the Vehicle to the condition it ought to have been at the end of the contract term as well as any applicable Excess Kilometre Usage Adjustment.

This reduced amount is called the Adjusted GFV and will not be sufficient to meet your final payment obligation.

How do you avoid a fair wear and tear adjustment being made to the GFV?

1. Keep your Vehicle in good order and repair, and ensure that it is regularly serviced in accordance with the recommendations set out in the Toyota Service and Warranty Handbook.
2. Ensure that your Vehicle does not travel more than the agreed kilometres.

Lack of regular servicing and attention to preventative measures, plus misuse or neglect, are the main reasons for Vehicles not meeting this Guide.
Some tips to ensure that your Vehicle meets the Fair Wear and Tear Guide

• Ensure your Vehicle is regularly serviced in accordance with Toyota’s recommendations refer to your Toyota Service and Warranty Booklets.
• Regularly clean your Vehicle inside and out, including the upholstery and trim.
• Regularly check fluid levels and top them up when needed.
• Immediately investigate any unusual mechanical noises or poor running symptoms – refer to your Toyota Dealer for assistance.
• Fix any damage or defects when they occur.
• Ensure that all controls are working.
• Regularly inspect your tyres and wheels to ensure that they are in good condition and safe.
• Do not exceed Toyota’s towing guidelines for your Vehicle.

Examples of fair wear and tear are provided on the following pages. For more information go to toyota.com.au/access

Toyota Access Fair Wear and Tear Guide

This Guide explains what is meant by fair wear and tear and is the standard by which your Vehicle will be assessed when returned to Toyota Finance.

Your obligations

The following list of obligations apply to Vehicles returned to Toyota Finance at the end of your contract and apply equally to all Vehicles regardless of model, age or kilometres travelled.

• Maintenance – Regular maintenance and servicing should be carried out by your Toyota Dealer or by an authorised repairer in accordance with Toyota guidelines, using approved service parts and lubricants only. Any defects or damage occurring during normal Vehicle use should be rectified as  soon as possible.
  The Toyota Service and Warranty Booklets(including the full service record) and any other documents relating to Vehicle equipment should be retained and made available if the Vehicle is to be returned to Toyota Finance at the end of the contract period. All documents must be in the  Vehicle upon return – including any details  of radio codes.

• Appearance – The Vehicle should be returned at the end of the contract period in a suitably clean condition to allow for a proper inspection of the paint, body and interior.

• Additional Equipment – Equipment such as  car telephones that have been installed are  to be removed, and any holes or damage should be repaired to a professional standard. All standard equipment, together with

• non-standard or ‘customised’ fittings originally supplied with the Vehicle, must be returned at the end of the contract period.

• Badges and Labels – Non-standard badges, labels or advertising fitted to the bodywork  or glass of the Vehicle should be removed, with any damage caused by their attachment. or removal fixed. Any paintwork colour fade due to the attachment of advertising will result in an adjustment to the GFV. Advertising should never be painted directly onto the Vehicle.

• Keys and Security – A full set of keys and remotes must be available and functioning. Return of the master key which controls  the Vehicle’s engine management system  is mandatory. If the Vehicle was originally supplied with  a security system, this should be intact and  fully operational, including any key or key  fob necessary for operation. Any additional, non-standard security system should be fitted according to a recognised standard.

• Mechanical Condition – The Vehicle must  be regularly serviced, properly maintained and kept in sound mechanical condition.  The following examples are conditions  usually caused by Vehicle neglect or misuse and therefore are not regarded as fair wear  and tear:

  • Brakes – Grooved brake discs caused by metal to metal contact.
  • Engine – Seized due to running Vehicle with insufficient coolant and lubricating oil, or with broken internal components.
  • Transmission – Slipping, erratic gear changing, clutch slipping, noisy transmission or ineffective synchromesh.

Fair Wear and Tear Table

The following table highlights the minimum standards required for Vehicles returned to Toyota Finance at the end of your contract, with different standards based on the kilometres travelled. For more information on fair wear and tear, go to toyota.com.au/access.

Definitions

The following terms have been defined to assist the reader. Any terms not defined will have its ordinary meaning.

Chip

•  in relation to glass, when a portion of glass has been damaged/removed from the top surface of glass; or
•  the removal of paint topcoat that causes base primer or metal to be exposed.

Bullseye: damage that results from a conical (cone shape) section of the glass being separated from the laminated/bonding layer.

Dent: a depression in the surface caused by a blow or pressure with no paint surface penetration.

Foreign Matter: bird or bat excrement, tree sap and any other acids or material that is etched into the paint.

Scratch:

•  in relation to glass, anything that has cut a shallow line in the layer of the glass greater than 1mm; or
•  an elongated mark that causes base primer or metal to be exposed that cannot be removed by cut and polish.

Star: a series of line fractures radiating outwards from the point of impact on a Vehicle’s windscreen.

Wiper Marks: windscreen wipers that have carved an etching in the top surface of the windscreen.

End of loan

At the end of your Toyota Access contract please ensure:

• The vehicle is returned with the owner’s manual and a complete and accurate service history (including the first service). Service books must be stamped, evidencing each service was performed by an approved service agent.
•  that all equipment fitted to the Vehicle at the time of delivery (or after delivery with TFS’s consent) is returned. This includes the master and service key and, where supplied with the Vehicle, two remote controls.
•  that any signwriting has been removed from the Vehicle and any damage caused to the exterior paintwork has been repaired.
• that front and rear matching tyres are of the same speed rating and size as those originally fitted to the Vehicle at time of delivery. Tyres must have at least 1.6mm of tread over all the road surface area of the tyre and otherwise be acceptable under Australian Road Safety Standards. No retreads.

Vehicle pre-inspection

You may elect to have your Vehicle pre-inspected if you are choosing to return it for the GFV. A copy of the pre-inspection report will be provided highlighting the components which require rectification. Where damage is not rectified, you will be charged for the costs  of having the Vehicle repaired after it is returned.

Measuring instrument

The following template is used by our inspectors to assess Vehicles and is provided as a guide only.

Toyota Finance Contact

PO Box 9215, Scoresby VIC 3179

T 137 200 E toyotafinance@toyota.com.au

toyotafinance.com.au

This Guide has been prepared using the statement of the interpretation of Fair Wear and Tear Guide published by the Australian Finance Industry Association (AFIA) Fleet Leasing & Rental Division (formerly Australian Fleet Lessors Association AFLA).

Toyota Finance is a division of Toyota Finance Australia Limited ABN 48 002 435 181, AFSL and Australian Credit Licence 392536.

FAQ

Q: What happens if my vehicle does not meet the Fair Wear and Tear Guide?

A: In such cases, Toyota Finance may reduce the Guaranteed Future Value by the estimated cost of repairs needed, leading to an Adjusted GFV that might not cover your final payment obligation.

Q: How can I ensure my vehicle meets the Fair Wear and Tear Guide?

A: Regularly maintain your vehicle, follow servicing recommendations, and avoid exceeding agreed kilometre limits to minimize the risk of adjustments to the GFV.

References

• Toyota Financial Services

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