Consumers heave a sigh of relief with new offers by BYD Philippines after TRAIN

MANILA: The recent surge in prices that was brought about by Tax Reform for Acceleration and Inclusion (TRAIN) has been a low-blow to the automobile marketplace in the Philippines. In response, STAR Corporation or Solar Transport and Automotive Resources Corporation, which has the exclusive distribution rights of BYD vehicles in the nation has announced a low all-in or even a 0% interest rate on its automobiles in order to combat the price increase.

After the recent changes announced by STAR, consumers can purchase the BYD S7 GS-I 2.0 TID DCT through two financing models. The first option is to do a downpayment of Php 249,000 followed by a monthly payment of Php 33,388 for 4 years. The second option is for those who can expand their budgets and avail 0% financing for a term of 3 years. In this case, the down payment comes down to Php 824,000 and the monthly payments to Php 22,289.

Another enticing option for those looking to buy a small SUV is the S1 GLX-I 1.5 DCT. Again, there are two payment schemes available for this model as well. The former one is based on a 30% down payment computation of Php 149,000 and monthly amount of Php 21,637 to be paid for 5 years.  The latter option is more suited for those with deeper pockets who can afford a 50% down payment of Php 534,000 and an interest rate of 0%. This brings down the monthly payment to a small amount of Php 14,834 per month for 3 years.

Offers from ‘Build Your Dreams’ or BYD Automobiles include the following services:

• 5-year package of PMS change oil
• 3-year LTO registration
• 1-year insurance
• Chattel mortgage
• Car tinting
• Car matting

The comprehensive tax reform policies brought about by President Duterte in the Philippines has a better excise rate for hybrids and EV’s and has led to them discontinuing all other models for the time being. However, they have also notified that they will again introduce hybrids and EV’s in the next few months.