Wouldn’t it be nice to be able to change to a brand new car every few years? For some, that’s the dream, and Toyota Motor Philippines (TMP) is making it possible with their new Balloon Payment Plus program. Offered by Toyota Financial Services Philippines Corp., it is a financial scheme that makes it easier to own a brand new Toyota vehicle with low monthly payments and guaranteed high resale value.
How does it work? Customers will first choose a vehicle and avail of the new Balloon Payment Plus program by paying an initial downpayment of 20 to 30% of the vehicle’s SRP. They will then choose the length of the finance term, starting from 24 months up to a maximum of 60 months. Depending on the duration, owners will be given a future guaranteed value of the vehicle. As part of the finance scheme, period maintenance costs (PMS) are already included in the light monthly payments.
Towards the end of the term, customers will have two options. The first is using the guaranteed future value as the lump sum payment which will be settled together with the last monthly installment. The second is trading in the current unit to purchase a brand new Toyota vehicle. You can refer to the chart above for a better understanding.
What vehicles are included? Toyota’s Balloon Payment program is available for the Vios, Corolla Cross (1.8V Hybrid), Hilux (Conquest, G, E, and J), and the Fortuner.
“With Balloon Payment Plus, you can update your (and your loved ones’) car every few years and experience all the exciting trappings that come with it. The new car smell, the latest car technologies, the smoothest rides, the newest looks—all can be yours sooner rather than later. So, whether it’s finally going for an upgrade or even getting your dream car—rest assured— avenues are made available and attainable for you,” TMP explained.
For more information, visit www.toyota.com.ph/balloon-payment-plus. Explore the vehicles and calculator function on the website that estimates your would-be expenses. For a final quotation, contacting any Toyota Dealer is advised.