Toyota Introduced New Finance Schemes

Sep, 2020 - By SMI

Currently, Toyota has five BS-VI compliant models in its India line-up that includes Vellfire, Fortuner, Innova Crysta, Camry Hybrid, Yaris, and Glanza.

Toyota Kirloskar Motor (TKM), a subsidiary of the Japanese automotive manufacturer Toyota Motor has introduced many finance schemes to increase accessibility or to offer flawless service to its customers. These plans make repayment of car loans convenient and more flexible, helping potential customers who wish to buy a Toyota car. Many automotive manufacturers in India have unveiled digital platforms to offer flawless service and to curb the spread of the novel coronavirus (COVID-19 pandemic).

The first scheme is the EMI Holiday for 3 months. Now, customers can buy their desired car and can pay the first EMI after 3 months (90 days). Except for the Vellfire, the new scheme is applicable on the company’s entire India line-up. The second scheme is the Zero Down Payment Scheme. Without any down payment, customers can buy their desired car with up to 100% finance of the on-road cost. This will help potential customers who do not want to invest large amounts of money at once. As above mentioned, the scheme applies to the company’s entire India line-up, except for the Vellfire.

The third is Low EMI Scheme. Customers can pay EMIs as low as US$ 11.80 (around Rs. 899) per US$ 1312.87 (Rs. one lakh) of the loan for the first six months. The EMI will be adjusted after the first six months for the rest of the tenure. Except for the Vellfire, the scheme is applicable on the company’s entire India offerings. The fourth is the Assured Buyback scheme. The company plans to offer assured buyback for the Glanza hatchback and Yaris sedan to improve customer confidence. Now, the Glanza and Yaris customers do not worry about resale value. Moreover, recently, Toyota has introduced two new car service features for their customers to help maintain their cars.