MANILA, Philippines — Leading automotive firm Toyota Motor Philippines Corp. (TMP) has rolled out a vehicle leasing service to cater to the mobility needs of consumers who prefer to use cars without owning one.
In a statement, TMP said Toyota Financial Services Philippines (TFSP) has launched a leasing service called Kinto One in response to the changing demands of consumers looking at car usership instead of the conventional car ownership.
Through Kinto One, customers can choose a Toyota model to drive for three or four years.
Vehicle models available under Kinto One are the Vios, Rush, Fortuner and Corolla Altis.
Customers also have the following mileage options: light package at 15,000 kilometers (km) per year, standard package at 20,000 km per year, and maximum package at 30,000 km per year.
The fixed monthly subscription for the lease service will cover the vehicle registration, annual comprehensive insurance, and regular periodic and preventive maintenance.
When the lease term is completed, the customer just has to return the vehicle.
“Kinto is a step closer to realizing Toyota’s vision of Mobility for All. We would like to provide as much flexibility as possible to customers based on their lifestyle and preferences. We recognize that the next generation has a need for car usage, but not necessarily in the form of vehicle ownership. Kinto makes it easy for them,” TFSP president Atsushi Murakami said.
Kinto One is now available in all Toyota dealerships in Metro Manila.
The service is being launched at a time when weak demand is anticipated for purchases of new vehicles given the coronavirus disease 2019 pandemic.
Earlier this month,TMP had seen an increase in inquiries for its used cars amid transport challenges following restrictions imposed by the government to contain the spread of the virus.
Through the Toyota Certified Used Car (TCUV) program, customers are assured the used vehicles being purchased have gone through TMP’s rigorous inspection and certification procedure.
Vehicles purchased under the TCUV program come with additional limited warranty and are qualified for flexible financing with TFSP.