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Saturday, September 18, 2021

Toyota's Balloon Payment Plus Offers Even Lower Monthly Payments, Includes Periodic Maintenance Too


Toyota Motor Philippines is flexing its financial muscle by making its Balloon Payment Plus plan available to more models.

Initially rolled out for the Fortuner, Hilux, and Corolla Cross, the Balloon Payment Plus is now available on the Rush and Innova as well.

Through its subsidiary Toyota Financial Services, the Balloon Payment Plus is a finance lease that offers even lower monthly payments compared to regular financing options. It also bundles in prepaid periodic maintenance service up to three years as well. In addition, at the end of the loan term, customers can choose to either pay the remaining lumpsum value of their vehicle, or trade it in at a predetermined value.

All in all, Toyota says customers who opt for the Balloon Payment Plus option will get up to 28 percent lower in monthly payments compared to regular financing. Plus, it gives them the flexibility to upgrade to a newer vehicle at the end of the lease term easily.

The Toyota Balloon Payment Plus is available at either a 20 or 30 percent downpayment, and a loan term of 24, 36, 48, or 60 months.

The lumpsum amount / predetermined trade-in value is dependent based on the loan term. It can be as high as 65 percent for the 24-month lease or as low as 45 percent for the 60-month lease.

As for the free PMS, there is a mileage cap of 20,000 kilometers per year. In case customers exceed that, the costs will be shouldered by the customer.

Take note that Balloon Payment Plus is different from Toyota’s Kinto One. Balloon Payment Plus is a financing lease, while Kinto One is more of a vehicle lease with fixed monthly payments set for a three or four-year term. Kinto One also doesn’t require any downpayment (just a security deposit worth two months).

1 comment:

  1. I hope toyota finance has improved its costumer assistance towards costumers experiencing default payment which usually happens due to unforseen financial emergencies wherein, it happens. As experienced personally by my brother, and even went as far as going to there main office in makati. No one was of assistance to us including their managers and officers we tried looking for because no one came out to. All they wanted was to pay in full because of the default or they get back the car especially with just a 5 month installment balance including the missed payment. Good for their business but NEVER AGAIN TOYOTA FINANCE! GREEDY BASTARDS

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