When Toyota Motor Philippines launched their first-ever compact crossover, the Corolla Cross, they mentioned that it’ll be made available with their “Balloon Payment Plus” scheme. It was a bit light on details, until now.
Similar to how the package is with the Vios, the Balloon Payment Plus enables Corolla Cross buyers to “split” their payments with a smaller upfront payment (as low as 20 percent), light monthly payments (up to a 60-month term), and the remaining lumpsum payment at the end (25-50 percent). It also bundles in free periodic maintenance service for up to 20,000 kilometers too.
All in all, this should help those who’re looking to purchase a brand-new car, but are a bit tight on cash right now.
And unlike typical balloon payments, Toyota actually guarantees a resale value higher than the remaining lumpsum at the end of the loan term. This gives customers the option to either pay off their new car, or use this guaranteed resale value to trade in and repurchase a brand-new Toyota after the loan period.
You can check out the details here:
Source: Car Guides PH
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