Last update 29. November 2021 Reading time 1:33 min
About Toyota India
Toyota India is a long-term subscription offering from Toyoya, offering different specs of six of their vehicle types to customers in Bangalore, Delhi, Gurgaon, Hyderabad, Mumbai and Noida. The cars on offer range in price and type, from small hatches all the way up to the Camry hybrid. The tenures on offer range from 12 months to 48 months in increasing six-month intervals and you can choose 15,000 or 18,000 km a year as a mileage allowance before committing.
How it works
The sign-up process involves submitting your license and ID for KYC and credit scoring purposes. Customers must be over 21, an Indian resident and with a credit score of above 700 to be considered. All vehicles come with insurance coverage, engine protect, roadside assistance and maintenance. Customers can also choose to extend or purchase the vehicle at any time. The lock-in period is 12 months and the lead time is around 45 days.
Costs and fees
The upfront fee consists of one month’s subscription in advance, plus another month as a refundable security deposit. There is no admin fee or non-refundable charge.
Monthly subscription charges range from 23,322 INR for a Glanza, up to 1,33,697 INR per month for the Camry hybrid. The excess mileage charge is variable and will be stipulated in each contract, while late payments are charged at 2% per day of the total outstanding amount.
Brands and models
Toyota offer six different vehicle types, with the range varying slightly based on location:
- Glanza: G-MT, G-Advanced Li-Ion Battery, V-MT
- Yaris: J-Optional-MT, G-MT, J-MT
- Innova Crysta – 2.4 G/GX/VX MT
- Fortuner 4×2/4×4 MT (2.7/2.8)
- Urban Cruiser Mid/High MT
- Camry – Hybrid (automatic)
Customers can only cancel after the lock-in period, which is 12 months. Extension or purchase requests can be made in writing.
What’s Special about Toyota India?
Toyota India bears the name of the Toyota brand, automatically creating trust with potential customers versus standalone, lesser-known subscription companies. With all the typical subscription features keeping them honest with their competitors, the main point of difference is perhaps the addition of the Camry which, while not cheap, represents one of the only truly luxury vehicles that it is easy to get hold of on the subscription market. The ability to extend up to four years is convenient for people who want all the long-term security of ownership without the tangible responsibility.
Toyota India has set up a subscription service that is quite similar to other car brands that operate side subscription offerings in India. The 1-4-year options will be familiar to anyone who has used another service before, as will the lock-in period and the option to buy or extend at the end of each term. The range of vehicles covers most demographics and needs, and the insurance policy covers almost all accident-related issues. But it is Toyota fans who will really come to Toyota India in their masses.