For those with limited credit history, financing or leasing a vehicle can be a challenge. But through a participating dealership, Toyota Financial Services has a program designed especially for you. The iFinance program allows qualified applicants to drive off in a new Toyota Corolla, Matrix, Tacoma or Yaris without a co-applicant1 .
Both lease and finance contracts are available. With a TFS finance or lease contract, you can start building your credit history. Just meet the following criteria:*
Credit Line. A FICO score of 610 or above. No 90 day past due or more accounts, charge-offs, collections, reposessions or foreclosures in your credit history.
References. Three personal and verifiable references.
Employment. Verifiable proof of a full-time job, which you've held for at least six months.
Sufficient Income. Your income must be enough to cover ordinary living expenses and vehicle payments, and be consistent and verifiable. Your monthly payment may not exceed a certain percentage of your gross monthly income. See your dealer for details.
Vehicle Insurance. You must show verifiable proof of insurance, as required under the terms of your contract. See your dealer for details.
Minimum down payment. Minimum down payment is 10% of MSRP or the agreed upon value of the vehicle, whichever is less (excludes any rebates or dealer incentives).
Other restrictions may apply. See your dealer for details.
1Maximum amount financed up to $25,000. Available on approved credit through participating Toyota dealers and Toyota Financial Services to qualified customers. Not all applicants will qualify. Programs may not be available in all areas. Programs are subject to change or termination at any time. Please see your Toyota dealer regarding finance terms, restrictions, state eligibility and program compatibility. Toyota Financial Services is a service mark of Toyota Motor Credit Corporation.