With the introduction of the 2020 Vios, Toyota Motor Philippines is also launching a new financing scheme that’s unique in the sub-compact segment with its Balloon Payment Plus Plan.
This makes the Vios the only value package with flexible financing terms, free periodic service maintenance for up to 20,000 kilometers, free one-year insurance, as well as trade-in discounts.
Though Toyota Financial Services (TFS)’s Balloon Payment Plus Plan, monthly payments will be made even lighter, with a lump sum to be paid at the end of the loan term.
“This plan will surely be helpful to most of our entry-level customers who suddenly find themselves tightening their belts now, but surely looks forward to better days ahead when this pandemic is over,” explained Atsushi Murakami, Toyota Financial Services Philippines President. “Some customers are afraid to take the risk of balloon scheme, as it is more commonly known, because they are not sure if they can pay the big amount at the end. But our Vios Balloon Payment Plus Plan is different. We reduce that risk for customers by guaranteeing the future value of their vehicle. This makes sure that customers have an option to trade-in the vehicle at the dealer, enjoy a better value for car to pay for the lump sum at the end of the term and also use the difference for the down payment of the next car purchase.”
This how the computation looks like:
- Downpayment: 20 to 30 percent of vehicle price
- Terms: 24, 36, 48, or 60 months
- Lump Sum Amount (Subject to Change) in Percent of Vehicle Price: 45 percent (24 months); 40 percent (36 months); 35 percent (48 months); 30 percent (60 months)
- Note: Monthly payment includes standard periodic maintenance for the whole term up to 20,000 kilometers per year
- Lower monthly payments compared to other banks
- Worry Free maintenance with the maintenance cost included in the monthly payments
- Guaranteed future value
- Flexible disposal with trade-in or pay-off options