Toyota Financial Services PH offers innovations to widen car use options for Filipinos

MANILA: Toyota Financial Services Philippines (TFSPH) is supporting Toyota Motor Philippines (TMP)'s goal of enabling mobility for everyone by offering Filipino customers with affordable and flexible options to buy cars and experience the freedom of mobility.

Now in its 20th year, TFSPH continues to improve key business solutions such as car financing and finance lease, while also providing innovative products and services that aim to change the way Filipinos buy, use, and upgrade their vehicles.

TFSPH President Rommel Ocampo stated that the company had a 45% market share in 2021, which means that for every 10 Toyota cars sold, TFSPH financed close to five.

Based on these results and certain favorable economic indicators, TFSPH is optimistic in expanding its offerings to meet customers' changing needs and adapt to the ever-evolving mobility landscape.

“We are optimistic about the country’s road to recovery and shaping the future of mobility. We are excited to show our customers how TFSPH will expand beyond traditional vehicle financing, through new mobility services to keep up with the dynamic needs of the future,” Ocampo stated.

The myToyota Wallet mobile app, as well as the car lease products Kinto One for individual customers and Kinto One Business for corporate fleets, are among TFS's developments.

myToyota Wallet is a mobile payment platform that allows customers to process their payment for everything Toyota in a secure and convenient way. The mobile app, which is available for Android and iOS, now supports card tokenization for up to three debit or credit cards, allowing users to pay for their Toyota transactions at any Toyota dealership nationwide.

This service works hand-in-hand with TMP's all-in-one mobile customer portal, the myToyota App, for payments on parts, accessories, service, and insurance. More features, such as e-money and online and secure payment of customer's monthly amortization, will be added soon.

Kinto One, on the other hand, is a full-service vehicle leasing package for individual customers that offers a hassle-free car subscription or "usership" model. Periodic maintenance, regular wear-and-tear parts replacement, yearly comprehensive insurance, yearly car registration, and an exclusive Kinto concierge service are all included in the all-inclusive monthly payment package.

Customers can choose from a wide range of cars to lease under the Kinto One package, and the car can be replaced every three to four years.

Kinto One Business is a full-service lease package that provides a convenient, worry-free fleet management solution for corporate customers. The fleet management service offers periodic maintenance, comprehensive insurance, car registration, and even roadside assistance in affordable payment packages. It also includes a cutting-edge fleet connected service that provides location status, geo-fencing, and unplug detection, as well as driver performance feedback.

“The future looks bright for the industry. A recent Automotive Market Study has revealed that demand for new vehicles is rising in the region, and that vehicle subscription is on the rise in Southeast Asia, as an alternative to ownership,” Ocampo added.

To learn more about TFSPH and its products and services, log on to www.toyotafinancial.ph.

TFSPH is regulated by the Bangko Sentral ng Pilipinas.

Photos from Toyota Financial Services Philippines

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