Toyota India has publicized a guaranteed buyback scheme for its all-new Hilux. The model was introduced in India in 2022 and now witnessed a price change as Toyota targets to attract new customers.
The buyback scheme provides clients an alternative to selling their Hilux back to the dealer at 70% of the value after 3 years.
The Buyback Scheme Of Toyota
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It is noteworthy that the automaker has revealed that this buyback offer is only available by Toyota Financial Services. If you do not go under the buyback road, Toyota also provides an EMI of Rs 32,886, which can be low, but, Toyota has not disclosed the tenure.
Acknowledging that the value of the Hilux surpasses the Rs 30-lakh mark, the tenure of the EMI would surpass the 3-year mark, relying on the down payment.
Although, a very interesting part that has not been listed by Toyota is the mileage. Normally, manufacturers set mileage for the buyback by having a price deduction for going over the specified limit.
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For instance, MG deducts Rs 7 for every kilometer over the limit at the time of buying back the Hector.
What Is A Buyback Scheme?
Buyback schemes are normally provided in the premium vehicle portion having manufacturers such as Mercedes-Benz and BMW providing this service to their clients.
The buyback scheme ensures clients who make big purchases that the firm will back them when it is time to take another vehicle.
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With the exception of only offering to repurchase the vehicle, customers also have a chance of updating to a different vehicle from that very manufacturer or not taking advantage of the buyback.
Toyota has completely mimicked Lexus with the buyback option. In 2022, Lexus, the luxury arm of Toyota gave an option of 60% buyback option on the ES 300h hybrid sedan in India.
Toyota is providing the scheme to whip up the lifestyle pickup truck portion. Isuzu has held ill at ease for a long time over other pickups such as the Tata Xenon or the Mahindra Bolero Pik-up only because it is more dedicated to the lifestyle consumer and not stringently for commercial use.
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Older models of the Isuzu still keep value today and have not devalued much even after the passing of time.
Having the buyback option, Toyota will also be capable of opening its doors to new clients who are into purchasing a dealer-approved, second-hand Hilux.
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Now, it will be very interesting to witness the effectiveness of this offer. The scheme is swiftly copied by many automakers.