In addition, buyers can avail EMI of Rs 33,000.
Toyota India has announced a guaranteed buyback scheme for Hilux. The lifestyle pickup was launched in India last year and has recently received a price adjustment as Toyota aims to attract new customers.
The buyback program gives customers the option to resell their Hilux to a dealer for 70% after 3 years.
- Toyota commits to buy back 70% after 3 years
- EMI starts at Rs 33,000
- There is no mileage limit mentioned by Toyota India
Toyota Hilux: acquisition or EMI?
It is worth noting that the automaker has stated that this buyback offer is only available through Toyota Financial Services. If you don’t want to go the buyback route, Toyota also offers an EMI of Rs 32,886, which sounds low, however, Toyota has yet to reveal the deadline. Considering that the price of Hilux surpasses the mark of Rs 30 lakh, the term of EMI will exceed the mark of 3 years, subject to the prepayment.
However, an interesting term that has not been mentioned by Toyota is the vehicle mileage at the time of acquisition. Manufacturers often set mileage limits on redemptions with a price deduction when the specified limit is exceeded. For example, MG deducted Rs 7 per kilometer (30,000 km for the petrol variant and 45,000 km for the diesel variant) over the limit on the acquisition of Hector.
Toyota Hilux features, prices and competitors
The Hilux comes in three variants – standard MT, high MT and high AT. All models come with a 204hp, 2.8-liter, 4cyl turbocharged diesel engine that can be paired with a 6-speed manual or automatic transmission. All models come with a 4×4 system equipped with high- and low-speed transmissions and an electronically locked differential.
The Hilux has features like Apple CarPlay and Android Auto, dual-zone climate control, leather upholstery, seven airbags, front and rear parking sensors, power-adjustable interior rearview mirror, tire angle monitor, and traction control. Active traction and an automatic limited-slip differential.
Hilux recently received a price revision. The standard MT has been discounted by Rs 3.60 lakh and now starts at Rs 30.40 lakh (old showroom). The High MT and AT variants have been boosted and are now starting at Rs 37.15 lakh and Rs 37.90 lakh respectively. This price is relatively high when compared to its main competitor, Isuzu D-Max V-Cross, starting at Rs 20.6 lakh and increasing to Rs 25 lakh. However, Toyota Hilux has been trialled and tested globally, which should justify its price point for pickup lovers.
What are the buyback programs offered by automakers?
Buyback programs are often offered in the premium car segment with manufacturers like Mercedes-Benz and BMW offering this service to their customers. The buyback program assures customers who buy in bulk that the company will support them when it’s time to change cars. In addition to simply offering to buy back the vehicle, customers also have the option to upgrade to another vehicle from the same manufacturer or not to buy again.
Toyota took a leaf out of Lexus‘ book with redemption option. Last year, Lexus – Toyota’s luxury arm – offered a 60% buyback option for ES 300h hybrid cars in india.
Toyota is delivering this plan to rock the lifestyle pickup segment. ISUZU has long had an edge over other pickup trucks like the Tata Xenon or the Mahindra Bolero Pik-Up simply because it’s geared toward more lifestyle consumers and not strictly for commercial use. Isuzu’s second-hand cars still retain their value to this day and do not depreciate much over time.
With the buy-back option, Toyota will also be able to open the door to new customers interested in purchasing a dealer-approved used Hilux.
Also see:
Toyota Hilux starting price reduced by Rs 3.6 lakh
Review Toyota Hilux: Timeless pickup
