The internet has been buzzing about the Toyota bill pay scheme that’s been rolled out by the UK’s major car companies in recent months, with more than 100,000 drivers receiving a notification every day about the new payment system.
The payment scheme has been designed to improve car payments for all customers and was introduced in order to improve consumer confidence.
In a post on its blog, Toyota said it was looking to increase the number of customers who received a notification about the pay-by-pay payment system by around 5 per cent every day.
It said the pay system would automatically redirect customers to the correct payment portal when they entered their payment details and would also be updated to include new and existing car owners.
But what if I don’t have a car yet?
Here’s what you need to know about the payment system and what you can do to protect yourself from fraudulent bills and fraudsters.
Who is eligible?
Anyone with a valid driver licence or an approved credit card, plus their driver insurance, is eligible to pay for a car, but only those on a basic car lease or a new car.
Those with a car loan are not eligible.
What are the requirements for a payment?
Toyota said you need a valid credit card to pay, and that you have been paying off your car loan for at least one month.
The amount you will pay is calculated based on your monthly payments and the total number of months you have paid off your mortgage, and will not be less than your loan amount.
If you’re unsure about your payment method, check with your finance provider.
What if I have a loan or a car finance?
If you have a financial situation that can make it difficult for you to pay off your loan or car finance, you can get help to help you pay off a car lease, or apply for a finance loan.
A financial adviser can help you with that, or you can talk to a financial advisor for advice about paying off a loan.
Toyota will pay off the loan in full and the finance will be forgiven if you’re unable to pay.
The pay-through system is not available to people with student loans, but those with a loan can apply for the car finance service through a financial adviser.
Toyotas finance advisers will work with you to decide how much you should pay, but you may also have to pay down your debt and repay it on a regular basis.
If I pay off my car loan or finance but don’t use it, will I still be able to pay?
You won’t have to worry about paying the full amount of the loan, but if you don’t repay the loan you may still be unable to use the payment.
If your loan is repaid on time, you won’t need to pay anything extra and the lender will get your money back automatically.
If the lender has not provided you with a repayment plan for your car, you may be able use your car lease to help cover the cost of the car you are paying off.
What happens if I do have a debt?
The repayment plan may cover some or all of the full cost of your car and car finance but you will still need to repay the full loan.
If you owe more than the full car loan amount, your repayments will be reduced.
Who can I contact if I’m concerned about my car?
If your car is a rental, you should contact your rental company to discuss the costs of the payments you’re making.
If a loan has not been paid on time or you have outstanding debts, you could also contact a financial agency or a debt repayment provider.
You can also get help from the National Debt Management Service, the UK government’s national agency for helping people with debts, to help make payments and get their finances in order.
What should I do if I find a payment system that I can’t use?
If the payment plan doesn’t work for you, contact your finance advisor to make sure the payment isn’t being used for a legitimate purpose.
If there’s a problem with your car payment, such as your payment being delayed or your payment not being accepted, you’ll need to contact the bank or other creditor you can contact.
If this happens to you, you might be able the make a claim with the Consumer Finance Ombudsman Service, which will help you make your complaint and resolve the issue.