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 2024

Toyota Vios

Competing in the subcompact sedan segment, the Toyota Vios 2024 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 in 2020.

Toyota Vios Launch

In 2002, Toyota introduced the first-generation Vios in the Philippines. A few years later in 2007, the second-generation sedan was launched. This version gained the "Batman" nickname due to the shape of its grille. 

Several years onwards In 2013, Toyota brought in the third-gen Toyota Vios. It has grown in size, and it also came with a larger engine. The Toyota-made sedan was given a major update in 2018. It bore a new exterior design, and it also gained the upmarket Prime variants as well.

More recently in 2020, Toyota Motor Philippines launched another refresh of the Toyota Vios model. It's fitted with sportier fascia, a new grille, a new pair of headlamps, a revised foglamp housing, and a new lower grille, among others. 

In March of 2021, TMP then introduced the Toyota Vios GR-S.

Toyota Vios Exterior

Up front, the Toyota Vios for the Philippines comes with a front end that mirrors the current designs of high-end models like the Corolla Altis and the Camry. The said design features a wide-slatted grille, flanked by the angular fog lamp housing. For the high-trim GR-S and G, the headlamps are three-tier LEDs with integrated LED daytime running lamps. The rest of the variants get a pair of four-bulb halogen headlights.

For the side and the rear, not much has changed since the previous version. The GR-S stands out from the rest of the variants with its black-colored exterior pieces, rear spoiler, and rear lower bumper with an integrated diffuser.

Toyota Vios Philippines angular front

The Toyota Vios G 

Apart from those, the Toyota Vios GR-S for the Philippine market also has different-looking side skirts and a set of GR-S 16-inch alloy wheels. The G variant on the other hand still has a piano black grille, but it gets chrome-plated door handles instead of the black-colored ones found on the GR-S.

A picture of the 2021 Toyota Vios GR-S

The all-new 2021 Toyota Vios GR-S

>>> Related: 2021 Toyota Vios GR-S review by Philkotse

Toyota Vios Interior

The Toyota Vios for the Philippine market can offer seating for up to five occupants including the driver. For the top-spec GR-S and G variants, they both come equipped with automatic air-conditioning. For the most part, the Toyota Vios' dashboard are made out of sturdy plastic, combined with silver-colored accents. 

Soft touch points for the Vios are also abundant. The Toyota-made sedan's door cards are made out of a combination of plastic, and a soft, fabric-covered material. There's also the presence of a center elbow-rest.

Toyota Vios Philippines interior

The Interior Of The Toyota Vios G

As for the seats, most variants except the GR-S come with fabric seats. The GR-S instead has synthetic leather with red contrast stitching, combined with suede pieces. 

Toyota Vios Philippines cabin

The rear seats of the Toyota Vios

To keep occupants comfortable, both the GR-S and G Vios variants are equipped with automatic air-conditioning systems. The rest of the trim levels on the other hand come with a manual air-conditioning system.

Inside the 2021 Toyota Vios GR-S

Inside the Toyota Vios GR-S

>>> Related: Toyota Vios for sale at good prices on Philkotse.com

Features & Technology

For entertainment, the Toyota Vios GR-S, and the Vios G variants for the Philippine market come standard with a 6.75-inch touchscreen headunit. The said headunit is also capable of connecting via Bluetooth, USB, and Aux jack.

The Vios G's touchscreen headunit

The Vios G's touchscreen headunit

The mid-tier XLE and XE trims also have the aforementioned headunit, but these come with a four-piece speaker set instead. The Vios J on the other hand comes standard with a 2-DIN audio unit linked to two speakers.

Besides the aforementioned touchscreen, the GR-S is also equipped with the Gazoo Racing 4.2-inch TFT multi-information display. Other variants do get an Optitron gauge cluster, as well as a multi-information display. The GR-S and the G also come with a push-to-start button, a leather-clad shift lever, and a drive-mode selector. All Vios variants also come standard with a tilt-adjustable steering wheel column.

Toyota Vios Philippines

The tech and convenience features will vary depending on the variant of the Toyota Vios

For safety, the GR-S and G variants are equipped with dual-front airbags, side airbags, curtain shield airbags, and driver's knee airbags. The rest of the trim levels have dual-front airbags, and the airbag for the driver's knee.

Anti-lock braking with electronic brake-force distribution, stability control, traction control, and hill-start assist are available on all Vios trims. Only the GR-S and G come with a rear-view camera, and only the former has a clearance sonar. 

>>> See more: New and used Toyota Vios for sale in the Philippines at the best price

 Reverse Camera None, With Apple CarPlay / Android Auto  Both 
Parking Sensors  # of Airbags  3 , 7
 Immobilizer  None, With  Speed-Sensing Door Locks  None, With

Platform & Chassis

The refreshed Toyota Vios for the Philippine market still uses the same platform as the previous model. As before, higher trim levels have disc brakes all around. 

For suspensions, the Vios uses a MacPherson Strut type for the front and a torsion beam-type suspension for the rear. Moreover, the engine is still positioned transversely, with the power sent to the front wheels.

Front suspension McPherson Strut Front Brakes Disc
Rear breaks    

Engine & Drivetrain

The Toyota Vios for the Philippine market has two engine options. The larger one is a 1.5-liter inline-4 engine capable of making up to 106 hp and 140 Nm of torque. This said engine is available on the GR-S and the G Trim. For the former, it is paired to a continuously variable transmission (CVT) only. The Vios G can either come with a CVT or a five-speed manual transmission.

There Toyota Vios G's 1.5-liter mill

The Toyota Vios G's 1.5-liter mill

The other engine option for the Vios is a 1.3-liter inline-4 engine. At most, this mill can produce up to 98 hp, and 123 Nm of torque. For the XLE, the said engine can be paired with a CVT or a five-speed transmission. The 1.3 XE's sole transmission is a CVT, while the J comes standard with a five-speed manual transmission only. 

A picture of the Toyota Vios GR-S

The gear shift lever of the Vios GR-S

>>> Also check out:

1.3 l, 1.5 l

Toyota Vios 2024 Price List

The price of the Toyota Vios in the Philippines starts at ₱732,000 for the entry-level J 1.3 MT, while the top-of-the-line Toyota Vios 1.5 GR-S CVT is priced at ₱1,055,000. For more details, please refer to our 2024 Toyota Vios price list as follows:

Variants Price
Toyota Vios XLE 1.3 MT ₱862,000    
Toyota Vios XLE 1.3 CVT ₱902,000
Toyota Vios G 1.5 MT ₱979,000
Toyota Vios G 1.5 CVT ₱1,039,000
Toyota Vios 1.5 GR-S CVT ₱1,055,000

Toyota Vios 2024 Specifications

Powertrain

1.3-1.5 L

No

98-106 hp

123-140 Nm

AT (CVT)

FWD

Suspension & Brakes

McPherson Strut

Front brakes

Disc

Disc

Manual (Hand)

   
Dimensions

4,425-4,467

1,730 mm

1,475 mm

133 mm

   
Capacities

5

326 L

 
Exterior

Halogen, LED

14-16 inches

 
Interior

Fabric, Leather

Manual

Auto, Manual

Technology

Push Button, Turnkey

None

None, With

Both

None

With

With

None

None

None, With

None

None

Safety & Security

3-7

With

None

With

None, With

None, With

Speed-Sensing Door Locks

None, With

   

₱ 732,000 - ₱ 1,055,000

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Cesar G.B. Miguel

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.

Facebook: https://www.facebook.com/goridus.goridus

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