Necessity is indeed the mother of all invention. Countless folks these days have no interest in acquiring a car of their own, but they certainly need to move around. But with the current health crisis in which public transportation is scarce and physical distancing is a must, many are forced to consider buying a car even if doing so is not really within their realistic means. No worries: Toyota is rushing to their rescue.
Clearly seeing a major shift in people’s transportation needs, Toyota has come up with a new way to avail of its vehicles without buying or owning them. Toyota Financial Services Philippines has just introduced its so-called Kinto One program, “a new mobility service that fits today’s dynamic lifestyle.”
Kinto One is essentially a leasing program. Instead of purchasing a brand-new vehicle, customers simply lease (or rent) one. You don’t even need to fork out a down payment—you just pay a fixed monthly fee—although you will need to give a two-month security deposit (which will be returned to you at the end of the lease contract, assuming you will return the car in good condition).
The monthly fee is really all the cost you will incur (well, that and the fuel). You won’t have to pay for preventive maintenance service, annual comprehensive insurance and vehicle registration. Best of all, you won’t have to absorb the car’s depreciation over time. When your lease contract expires—a choice of three or four years—you just return the car and start a new subscription for a new unit. That’s like having a brand-new vehicle every three or four years without having to mind the miscellaneous expenses that car ownership usually entails.
Below are your options if you want to avail of this service.
- Vios 1.5 G CVT
- Rush 1.5 G AT
- Fortuner 4×2 G AT Diesel
- Corolla Altis 1.8 V Hybrid
- Light – 15,000km/year
- Standard – 20,000km/year
- Maximum – 30,000km/year
- Three (3) years
- Four (4) years
This service is now available as you read this. You will have to contact Toyota for the actual computation of your preferred package. You may send your inquiry via [email protected].
So…buy or lease? Time to sit down and assess the pros and the cons.