Toyota Financial Services has announced relief plans for customers who have been financially impacted by COVID-19.
Toyota Financial Services provides a wide range of financial services products to the Retail and Corporate market in South Africa including Vehicle and Asset Finance, Full Maintenance Leasing and Vehicle Stock Funding.
Due to the current pandemic crisis which has impacted everyone, Toyota Financial Services has announced relief plans for customers. In a statement, Toyota Financial Services said, "in response to the effective actions put into place by our National Government, we have implemented what we believe, are appropriate and ethical plans to responsibly navigate around the current situation and ensure service continuity for all our customers. We applaud the Government for taking decisive action early on and charting the course."
What does this entail? From 1st April until the 30th June 2020, Toyota Financial Services will implement measures to provide relief to individual and business customers. Toyota Financial Services makes it clear that the relief and support will depend on the type of product and prior banking behaviour. Standard interest and fees will continue to accumulate, but no fees will be charged for any relief granted. Customers are advised to get in touch to make the necessary arrangements. "Our aim is to ensure that customers across all our product segments can continue keeping their financial affairs in order through this difficult time. We encourage all customers who can honour their financial obligations to continue servicing their repayments to maintain a positive credit record," said the statement.