News/ Industry/ Toyota Announces An Assured Buyback Scheme For The Hilux Pick-Up

Toyota Announces An Assured Buyback Scheme For The Hilux Pick-Up

The Hilux now has a guaranteed buyback programme in India, offered by Toyota. Toyota has recently revised the price of its newly introduced lifestyle pickup in India in an effort to win over new customers. After three years, buyers can return their Hilux for 70% of the original purchase price, thanks to the buyback programme.

Manufacturers in the luxury car market, such as Mercedes-Benz and BMW, frequently provide buyback programmes to its consumers. Customers who are considering making a sizable purchase can rest easy knowing that they will be taken care of when it comes time to upgrade. Customers can choose to take advantage of the buyback offer, upgrade to a newer model from the same manufacturer, or decline the buyback altogether.

This buyback offer is exclusive to Toyota Financial Services, the manufacturer has said. Even if you do not want to consider the buyback street,  Toyota also provides a low EMI of Rs 32,886. However, the company has not disclosed the length of the payment plan. Depending on the amount put down, an EMI for a Toyota Hilux would have to be paid over a period of more than three years.

Toyota has remained silent on the topic of a potentially interesting clause: the mileage of the car at the time of buyback. Usually, the buyback price may be reduced if the vehicle has more kilometres on it than the maximum allowed by the manufacturer. But in this case, Toyota has been AWOL, so take your guess!

There are three distinct Hilux models available: the Standard MT, the High MT, and the High AT. Each model is equipped with either a 6-speed manual or automatic transmission and a 2.8-liter, 4-cylinder turbo diesel that produces 204 horsepower. A 4x4 system with high and low range transmission and an electronic locking differential is standard on all versions.

The Hilux has high-tech features like smartphone integration (Apple CarPlay and Android Auto), leather seats, 7 airbags, parking sensors (front and rear), an electrochromic rearview mirror, a tyre angle monitor, active traction control, and an automatic limited-slip differential.

The Hilux's pricing has been reduced recently. The base price of a Standard MT has dropped from Rs 33.60 lakh to Rs 30.40 lakh (ex-showroom). Both the High MT and High AT variants saw price increases, with the former now beginning at Rs 37.15 lakh and the latter at Rs 37.90 lakh. But, the true pick-up truck fans will understand the high cost of the Toyota Hilux because of its worldwide reputation for reliability.

Toyota's buyback programme is clearly inspired by Lexus'. Lexus, Toyota's luxury brand, provided Indian customers with a 60% buyback option on the ES 300h hybrid sedan last year.

Toyota has introduced this programme in an effort to energise the lifestyle pickup truck market. Isuzu has always been ahead of rival pickups like the Tata Xenon and the Mahindra Bolero Pik-Up because it caters to a broader demographic of buyers and isn't limited to commercial applications. This is the reason why the value of used Isuzus pick-ups that are several years old has not diminished significantly.

Toyota will also be able to attract new customers who are interested in purchasing a certified pre-owned Hilux thanks to the buyback programme.

 

Words: Sresht Garg

TopGear Magazine May 2023