Get lighter monthly payments for your dream Toyota vehicle with Balloon Payment Plus!
Owning a car has been considered by many as a luxury not only because of purchasing price but also due to costs associated with maintenance and repair.
Perspectives toward car ownership, however, have changed in recent years. For millennials and Gen Z consumers, cars are seen as a practical need and not just a want or status symbol. Identified as individuals ages 25 to 35, many consumers at the said age range have employee-level incomes who are planning either to buy their first car or a new vehicle.
To make getting a car easier and more convenient, Toyota Motor Philippines (TMP) and Toyota Financial Services Philippines (TFSPH) launched the Balloon Payment Plus (BPP), a new, unique finance lease product offering low monthly payment, inclusive of periodic service maintenance for the whole finance term and end-of-loan term options.
Balloon Payment Plus offers customers lower monthly payments than regular financing. At the end of the loan term, customers have the option to pay for the lump sum to complete the finance term or trade in their vehicle and upgrade to a new one.
Through Balloon Payment Plus, customers can choose among Toyota's array of vehicle models from the Corolla Cross, Hilux, Fortuner, Innova, and Rush lineups. The new payment scheme is an improved version of the previous Balloon Payment offered by TMP and TFSPH.
Balloon Payment Plus comes with Periodic Maintenance Service (PMS), which is built in the whole financing term. PMS serves as a hassle-free component for upkeeping the vehicle. First three years of PMS are for free and covered by Toyota.
Parties interested in availing Balloon Payment Plus can visit the Toyota Motor Philippines website. Accomplish the online form where you can choose the vehicle model and the Toyota dealer that you prefer, which you can contact for a final quotation. Once your application is approved, you must provide a valid government-issued ID, proof of income, and other supporting documents.
Down payment is 20, 25, or 30 percent of the vehicle's suggested retail price. Monthly payment terms are available in 24-, 36-, 48- and 60-month options, and lump sum ranges from 30 to 68 percent of the vehicle's price depending on the term. Apart from paying off the lump sum amount to complete the finance term, customers may choose to trade in the vehicle to a dealer for an upgrade.
For more information on BPP, go to www.toyota.com.ph/balloon-payment-plus. You may also inquire through the Toyota Financial Services Customer Care Hotline 02-7757-8500, send an email to [email protected] or visit their website. You can also drop by authorized Toyota dealerships to avail of your brand-new dream car under the Balloon Payment Plus arrangement.
Toyota Financial Services Philippines Corporation is supervised by the Bangko Sentral ng Pilipinas ([email protected]).