Toyota Motor Philippines (TMP) is bringing car leasing into the country with its newly-launched Kinto One program. Rather than focusing on car ownership, customers can instead switch to a form of “car usership”. This allows them to drive around the country to and from their destination without actually owning a vehicle from three to up to four years.
As mentioned before, there are four vehicles to choose from: the Vios 1.5 G AT, Rush 1.5 G CVT, Fortuner 4x2 G AT (Diesel), and the Corolla Altis 1.8 V Hybrid. A total of three mileage options are available for customers to choose from. Light Package covers 15,000 km/year, while Standard Package gives users 20,000 km/year. Finally, there's the Maximum Package which covers 30,000 km/year.
The most affordable option out of the bunch is the Vios 1.5 G AT with Light Mileage Option and a four-year lock-in period. With this option, the monthly payment for the Vios is only at Php 28,478. Meanwhile, the most expensive would be the Vios 1.5 G AT (White Pearl) with Maximum Mileage Package and a three year leasing period; paying Php 34,785 monthly.
If you need a bigger vehicle, you can already get the Rush for just a little more than you would pay monthly for the Vios. The Rush 1.5 G A/T starts at Php 28,555 per month with the Light Mileage Option and four-year leasing period. Monthly payment prices top out at Php 33,382 per month with the Maximum Mileage Option and three-year lease.
Prices for the Fortuner 2.4 G A/T (Diesel) do jump a bit from the Rush’s leasing options. The price for leasing the Fortuner starts at Php 41,929 with a Light Mileage Option and four-year lock-in period. Meanwhile, the most expensive is the Maximum Mileage Option with a three-year lease amounting to Php 47,765 monthly.
Undoubtedly the most fuel-efficient of the bunch is the Corolla Altis 1.8V Hybrid. Its lease price is not far from that of the Fortuner starting at Php 41,557 monthly with a four-year lease together with the Light Mileage Package. The most expensive would be the White Pearl Altis Hybrid with the Maximum Mileage Option and three-year lease – Php 48,135 per month.
The prices, especially for the Altis and Fortuner are a bit pricey when compared to a loan. But, included in the monthly payments are periodic maintenance, normal wear and tear parts replacement, annual comprehensive insurance renewal, and car registration.
Toyota’s Kinto One leasing program makes sense, especially for those who change cars often. Rather than having to deal with depreciation, they can just lease a car for a certain period. Afterward, they can just lease another one again. The only question now is, which vehicle will be the most sought after in the Kinto One program?