Toyota PH explains how Balloon Payment Plus work and its benefits

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.

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

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 2024

Toyota Vios 2024

Competing in the subcompact sedan segment, the Toyota Vios 2023 is the top sales contributor for the Japanese automaker. The price for the Toyota Vios in the Philippines ranges from PHP 732,000 to PHP 1,055,000. A total of 7 Toyota Vios variants are offered, with the top-of-the-line Vios GR-S variant coming with a tag of PHP 1,055,000. Two engine options are available in the range, which can be connected to either a 5-speed manual or continuously variable transmission (CVT). Dimensions-wise, the subcompact sedan spans 4,425 mm in length, 1,730 mm in width, and 1,475 mm in height. The main rivals of the Toyota vehicle include the Honda City, Mitsubishi Mirage G4, and Nissan Almera.

The Toyota Vios is not only the best-selling model in the Japanese automaker's lineup, but the entire Philippine market. It serves as a reliable subcompact sedan for those who are looking for a daily driver. Also, the Vios is proudly Philippine-assembled which supports Filipino automotive workers. Now, the vehicle is competing in its respective class head high using the refreshed body released by Toyota Motor Philippines (TMP) in the country last 2020.

₱ 732,000 - ₱ 1,055,000

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Toyota Financial Services Balloon Payment Plus

Cesar G.B. Miguel

Author

Cesar Guiderone B. Miguel was born and raised in Iligan City, Lanao Del Norte. He graduated in 2010 with a Bachelor of Arts in English degree from Mindanao State University - Iligan Institute of Technology. He previously worked as a freelance writer for various websites, as a member of the Iligan City Disaster Risk Reduction Management's training staff, and as a medical sales representative.

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