Thursday, April 2, 2020

Toyota Motor PH's Car Leasing Plans Could Be Kinto


Late last year, Toyota Motor Philippines laid down plans to offer long-term leasing in a bid to solidify its market share. While no details were provided at the time, we just have to look at our neighbor in Thailand to see that Toyota has done just that with a new brand called Kinto.

As Toyota sees a shift from conventional car ownership to car usage that can be enjoyed wherever and as much as users would like, there’s a growing need for a service that allows customers to freely select the car that they like or want to drive and enjoy it as they like, instead of using a car simply as a means of transportation.

This is where Kinto comes in. Incorporated just in February 2019, it offers customers the chance to drive a brand-new Toyota with both just a monthly fixed-sum service that packages voluntary insurance payments, vehicle tax, registration charges, and regularly scheduled maintenance. The service was rolled out in Japan initially, with Thailand soon following suit.

In both countries, Kinto comes with a fixed term (3 or 4 years). In the case of Japan, there’s a two-tier system—Kinto One (basic), and Kinto Select (which includes Lexus models). In the case of Thailand, there’s a three-tier system based on the total mileage the customer intends to use per year—15,000, 25,000, or 45,000 kilometers per year. After that, it’s just a matter of selecting what car and which dealership the car would be pick-up at. And unlike a typical car loan which may require a guarantor, with Kinto, all it takes is a swipe of the credit card.

When it comes to car selection, it’s extensive enough. In Japan, Kinto One subscribers can take out a Prius, Corolla, Alphard, or Crown. With Kinto Select, the service includes six Lexus models including the IS, NX, and heck, even the RC sports coupe. Sadly, in both cases, there’s no chance to swap between models during the term of the lease (unlike the Nissan Switch program in the U.S.). Meanwhile, for Thailand, it covers the Yaris Ativ (our Vios), Vios, C-HR, Altis, and Camry.

As for the pricing, well, in Japan, it starts at 46,100 yen (P 21,842~) to 180,000 yen (P 85,286~) per month, while in Thailand, it’s from 10,840 THB (P 16,640~) to 33,040 THB (P 50,720~). With those prices in mind, would you consider a long-term lease than outright buying a brand-new car?

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