Depending on what you buy, Honda might only require a PHP 7,000 deposit
If you plan on buying a car soon, be prepared to shell out extra. That's because most automakers have already announced price increases for most of their models due to the new DTI safeguard. While others won't increase prices, they will instead require an additional deposit which often amounts to PHP 70,000 or above, depending on the model. It's the same story with Honda Cars Philippines Inc. (HCPI). Unlike other manufacturers, however, Honda won't be charging customers the full amount of the safeguard bond.
Rather than requiring a full PHP 70,000 or PHP 110,000 bond, Honda will only require a portion of the deposit. Also, not all models are affected by the DTI's safeguard deposit for the time being. The only affected models are the Brio (all variants), City (all variants), Civic E, and HR-V RS. Probably the best news so far? Prices remain the same.
How much will be collected? Customers who purchase a Brio S or V variant will be required a PHP 40,000 deposit, while the RS variant requires a PHP 60,000 deposit. As for the City, you'll only have to shell out an additional PHP 7,000 deposit on top of the current SRP, and yes it applies to all variants. Step up to the Civic E, and be prepared to fork out an additional PHP 10,000 for the deposit. Customers looking at the HR-V RS need to deposit PHP 30,000.
Like what other automakers are doing, HCPI will refund customers their deposits, assuming the government returns the provisional safeguard duty.
Rather than let customers take the full brunt of the new safeguard bonds, Honda will only impose a partial amount due to the current economic situation. Specifically, they aim to “lessen the burden of customers especially in these trying times”.
Other models, namely the Jazz, Mobilio, BR-V, Civic RS, and CR-V (2.0 Gas/V Diesel), are also subject to the provisional safeguard duty upon importation. For now, however, you can purchase these vehicles at Honda dealerships without having to shell out extra.