Toyota’s ‘Buy Now, Pay Later’ Scheme For Glanza, HyRyder Is Here
Toyota has pressed the accelerator on festive deals, kickstarting its campaign much before the traditional season peaks. With Navratri still a few months away, the company’s fresh set of offers attempts to lure prospective car buyers with something rather unconventional: a delayed payment scheme that lets you drive away now and start paying later.
Delayed EMI Scheme: Drive First, Pay Later
At the heart of the offer is the “Buy Now, Pay in Navratri” finance scheme, applicable across most Toyota dealerships. It allows buyers to take immediate delivery of a new Toyota Glanza or Urban Cruiser Hyryder while deferring their first EMI till October, just around the time Navratri begins. Effectively, this gives buyers a four-month financial breather, especially for those eyeing a new car for festive celebrations but hesitant to commit to upfront monthly instalments during the monsoon or back-to-school season.
While this delayed EMI model isn’t new to the Indian auto finance scene, it is rarely rolled out this early in the year. By offering it in June itself, Toyota appears to be targeting the audience that might otherwise postpone purchases till September or October.
More Than Just a Payment Holiday
In addition to the deferred EMI scheme, Toyota is also bundling in cash benefits, exchange bonuses, and loyalty rewards depending on the model. The Glanza and Urban Cruiser Hyryder seem to be the focus of most of these offers.
For instance, buyers of the Glanza can get total benefits of up to ₹72,000, which include corporate discounts, exchange bonuses, and accessories. The Urban Cruiser Hyryder, which straddles both hybrid and petrol segments, carries benefits of up to ₹88,000, depending on variant and location.
These benefits are not structured as straightforward cash discounts. Instead, they are a mix of accessories, exchange offers, and finance support. This packaging is quite typical of Toyota, which tends to resist deep price cuts in favour of bundled value.
Why Now? Reading Between the Lines
Toyota’s early festive push likely stems from two factors. First, the mid-year months tend to see a lull in car buying activity, as buyers wait for fresh discounts closer to Diwali or wait for upcoming models. Second, the company may be trying to counter emerging competition in the compact SUV and premium hatchback space, particularly from Maruti and Hyundai.
The Urban Cruiser Hyryder, while praised for its hybrid efficiency, faces tough competition from the Grand Vitara, Creta, Seltos, and the upcoming new-generation Duster. The Glanza, meanwhile, remains a rebadged Baleno and hence requires value-led offers to keep buyers interested.
Toyota’s move also coincides with the fiscal planning cycle of many households and businesses. A deferred EMI plan provides psychological and financial comfort, especially for salaried professionals who plan big-ticket purchases around their bonus cycles or festive bonuses.
Dealer Response and Market Sentiment
Initial feedback from dealers suggests the scheme has generated more footfalls than anticipated, especially in Tier-2 cities where delayed payment models have more takers. Customers who might have been sitting on the fence are now walking into showrooms, calculating how the EMI break can help them sync their purchase with other financial commitments.
Some buyers are also viewing this as an opportunity to opt for a slightly higher variant or an accessory package without overextending themselves upfront. According to online forums, this flexibility could prove to be a decisive factor, especially in segments where value-for-money plays a crucial role in buying decisions.
Festive Push, But With Caution
While the scheme adds flavour to an otherwise dry sales phase, Toyota’s approach is not overly aggressive. By sticking to finance-driven offers and mild cash benefits rather than deep discounts, the company is preserving its brand positioning. It’s offering enough to tempt the value-conscious buyer without appearing desperate to clear inventory.
The success of this early festive play will likely depend on how other carmakers respond. If competitors match or better the offer, the market could see an interesting pre-Diwali price war take shape. Until then, Toyota seems to have taken a confident first step in the season of spending.