Toyota PH explains how Balloon Payment Plus work and its benefits

Updated Jan 13, 2021 | Same topic: Automotive Industry Updates

Here’s why you should opt for Toyota’s Balloon Payment Plus.

Launched along the facelifted 2020 Toyota Vios, Toyota Financial Services Philippines introduced the Balloon Payment Plus. Initially, it was available for the Vios only. As per the latest update from Toyota, the said financing scheme has been expanded further to more models. On top of that, the Japanese brand also provided further information as to how the Balloon Payment Plus works, as well as its benefits.

Balloon Payment Plus: Benefits

Besides providing affordable monthly payments, the said new finance lease product comes packaged with periodic maintenance services (PMS) and value chain services for the duration of the financing term.

A picture of the benefits infographic of the Balloon Payment Plus

The benefits of the Balloon Payment Plus

Because of these, the Balloon Payment Plus offers lighter monthly payments compared to the regular financing scheme. It also provides you with a worry-free car ownership experience due to the provided PMS. This new financing option will also stave off the value depreciation of your car, which is great if you’re looking to trading-in the car in the future.

>>> Related: 2021 Toyota GR Supra Sport Top makes open-air driving more fun

So how does the Toyota Balloon Payment Plus work?

First off, you have to choose your downpayment and finance terms. As for the downpayment, this new system allows for 20 percent, 25 percent, or 30 percent downpayment of the model’s standard retail price (SRP). Then you’ll choose the right finance term for you. You can choose a 24-month term, 36 months, 48, or 60 months.

Here is a table of sample computations for Toyota models participating in the Balloon Payment Plus:

Participating Model
Toyota Vios
Type of Financing
Leasing (Finance Lease)
Down Payment
20% – 30 % of the vehicle price
Terms
24 months
36 months
48 months
60 months
Lump Sum Amount*
(% of the vehicle price)
45%
40%
35%
30%
Guaranteed Great Resale Value*
55%
50%
45%
40%
Maximum Mileage Requirement (PMS)
20,000 km/year

Participating Model
Corolla Cross 1.8 V Hybrid
Type of Financing
Leasing (Finance Lease)
Down Payment
20% – 30 % of the vehicle price
Terms
24 months
36 months
48 months
60 months
Lump Sum Amount*
(% of the vehicle price)
55%
42%
33%
30%
Guaranteed Great Resale Value*
67%
54%
45%
42%
Maximum Mileage Requirement (PMS)
20,000 km/year

A picture of the Corolla Cross hybrid

This might just convince you to get the Corolla Cross Hybrid

Participating Model
Toyota Hilux (MC) Conquest, G, E, and J variants only
Type of Financing
Leasing (Finance Lease)
Down Payment
20% – 30 % of the vehicle price
Terms
24 months
36 months
48 months
60 months
Lump Sum Amount*
(% of the vehicle price)
60%
55%
50%
45%
Guaranteed Great Resale Value*
70%
65%
60%
55%
Maximum Mileage Requirement (PMS)
20,000 km/year

Participating Model
Toyota Fortuner (MC) All Variants
Type of Financing
Leasing (Finance Lease)
Down Payment
20% – 30 % of the vehicle price
Terms
24 months
36 months
48 months
60 months
Lump Sum Amount*
(% of the vehicle price)
60%
54%
47%
40%
Guaranteed Great Resale Value*
70%
64%
57%
50%
Maximum Mileage Requirement (PMS)
20,000 km/year

Monthly payments for all participating models will also include standard periodic maintenance. Although, PM beyond the mileage requirement as stated in the tables will be paid to the customer. The customer will also pay for the costs incurred for services outside the regular PMS.

There are two ways to get the guaranteed resale value of your vehicle. First is that you can pay-off the lump sum amount along with the last monthly installment on your last due date. As per the table, the lump sum will depend on the model and the terms you have opted for.

A picture of the Toyota Hilux J

The Hilux J is included in the new payment scheme

The second option is that you can trade-in your vehicle and repurchase a new one. And yes, the trade-in value of a car acquired through the Balloon Payment Plus is much higher than a car acquired through regular financing. This is because the said program guarantees a larger resale value in the first place.

Do you think the new Balloon Payment Plus will work for you or will you opt for the regular financing scheme instead?

For the latest automotive related news, car reviews, and car buying tips, keep reading here on Philkotse.com.

Know more about Toyota Vios 2021

Toyota Vios

<p><a href="https://philkotse.com/toyota-philippines-price-list" title="Toyota Philippines">Toyota Motor Philippines</a> introduced the Toyota Vios in 2002. This subcompact sedan is made at Toyota&#39;s plant in Santa Rosa, Laguna. Currently, the Philippine-spec Toyota Vios is offered in nine variants. Prices for the Toyota-made sedan ranges from Php 681,000 to Php 1,020,000. The Toyota Vios subcompact sedan gets two engine options, two transmission options, and a whole host of comfort and safety features. The said model is also available in a wide range of color options. This includes Black, Red Mica, Pearl White, Thermalyte, Blackish Red, Alumina Jade, Freedom White, Grayish Blue, and Super Red.</p>

From ₱681,000

Explore
Cesar G.B. Miguel

Cesar G.B. Miguel

Author

Cesar is a graduate of AB English with previous experience working as a freelance writer for varied internet publications in-between his former stints in the Pharmaceutical Industry, and later as a First Aid Provider and Training Staff at the Iligan City Disaster Risk Reduction and Management Office.

Since childhood, Cesar has been keenly interested in cars. He has learned the ins and outs of these marvelous vehicles and is a competent amateur mechanic who is keen on sharing his knowledge.

Cesar is perceptive of car culture in general – not only in the Philippines but in global regard, as well. His knowledge ranges from the prevalent stories and trends among car enthusiasts around the world, to closely following the latest local and international developments in the automotive industry.

View more