VinFast introduces car Residual Value Guarantee program for PH

MANILA: VinFast Philippines has launched its Residual Value Guarantee (RVG) program for the local market. 

As the Vietnamese carmaker’s local arm explained during the RVG’s official launch, it is a customer-centric instrument that allows vehicle owners to regain up to 90 percent of their car’s value. 

Essentially, the customers can “sell back” their cars to VinFast at 90 percent value for a six-month-old vehicle. Clients can likewise regain 86 percent value after one year, 78 percent after two years, and 70 percent after three years. 

The RVG program accepts all locally VinFast models, which include: 

• VF 3
• VF 5
• VF 6
• VF 7
• VF 9

Clients who have decided to put up their cars for the RVG program, however, are required to have their units inspected and certified in order to meet eligibility criteria. Moreover, cars that are set to undergo this process that were acquired via financing should be fully paid, with their chattel mortgage already released. The entire RVG process, VinFast says, will take around one week. 

To note, VinFast Philippines’ RVG program was initially introduced in the Indonesian market. It is, however, one of the first of its kind here in the Philippines. 

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With that said, VinFast says that it will contribute to attracting more would-be electric vehicle (EV) adopters in the country. It is likewise seen as a means to “strengthen” consumer confidence in the long-term value of the carmaker’s products, and is indicative of VinFast’s commitment to the local market on a long-term basis. 

“With a residual value guarantee of up to 90 percent of the vehicle’s list price, VinFast aims to make EV ownership more accessible and reassuring for Filipino consumers,” Chief Executive Officer of VinFast Southeast Asia Antonio Zara said. 

“When combined with our other support programs, we believe electric vehicles will soon become a natural and reliable choice for households and individual users across the Philippines. This program reflects our long-term commitment to the market and consistent service nationwide,” Zara added. 

At the launch of the VinFast RVG program, Zara further added that it will be reintroducing its battery subscription service for the Philippines soon. The brand also has plans to open 30 more dealerships in the country, though no timeframe for this was disclosed just yet. On the other hand, the recently launched “PiliPinas” car design voting initiative has already managed to gather more than 21,000 votes. 

Additionally, VinFast Philippines is set to launch four new car models next year. 

Also read:

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VinFast surpasses 100K sales milestone in Vietnam

Green GSM taps Xentro Motors to promote EV taxis in PH

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