Mitsubishi PH will return your safeguard deposit in full
Mitsubishi Motors Philippines Corporation (MMPC), as with most automakers in the country, announced that they will start refunding the safeguard deposit made by customers very soon. The refund comes after the Department of Trade & Industry (DTI) junked the provisional safeguard bond for imported vehicles last week.
The models covered by the safeguard bond include all Xpander, Montero Sport (except for the GT 4x4), and Strada models. Subsequently, MMPC dealers will no longer require safeguard deposits for said vehicles either.
Fortunately, MMPC’s refund process will be straightforward. The automaker didn’t incorporate the safeguard deposit into the suggested retail price (SRP) of the affected vehicles, nor did they shoulder portions of it. Instead, customers were asked to make a separate payment amounting to either PHP 78,400 (PHP 70,000 + 12% VAT for passenger cars) or PHP 123,200 (PHP 110,000 + 12% VAT for light commercial vehicles), which they will receive in full.
For the refund process, each Mitsubishi dealer will reach out to concerned customers across the country. This will be for the requirements needed to bring and to schedule an appointment at the dealership to return the safeguard deposit.
As for the prices of Mitsubishi vehicles, which were initially affected by the DTI safeguard, these will remain unchanged. Like we mentioned earlier, MMPC separated the payment for the safeguard deposit rather than incorporate it into the vehicle’s SRP. With that, expect to pay the same price when purchasing a brand new Mitsubishi model such as the. Xpander, Montero Sport, or Strada today.