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.
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.
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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 |
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Type of Financing |
Leasing (Finance Lease) |
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Down Payment |
20% – 30 % of the vehicle price |
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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 |
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Participating Model |
Corolla Cross 1.8 V Hybrid |
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Type of Financing |
Leasing (Finance Lease) |
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Down Payment |
20% – 30 % of the vehicle price |
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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 |
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This might just convince you to get the Corolla Cross Hybrid
Participating Model |
Toyota Hilux (MC) Conquest, G, E, and J variants only |
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Type of Financing |
Leasing (Finance Lease) |
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Down Payment |
20% – 30 % of the vehicle price |
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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 |
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Participating Model |
Toyota Fortuner (MC) All Variants |
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Type of Financing |
Leasing (Finance Lease) |
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Down Payment |
20% – 30 % of the vehicle price |
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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 |
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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.
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?
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