KINTO SELECT

KINTO SELECT
Disclosure Statement

This statement contains important information for the KINTO SELECT Contract.
Please carefully read and confirm the contents of the KINTO SELECT Contract and this statement before signing the contract.

I. Outline of the KINTO SELECT Contract

・The KINTO SELECT Contract (hereinafter referred to as “Basic Contract”) is a contract under which KINTO Corporation (hereinafter referred to as “Company”) becomes the owner of a vehicle selected by the customer (hereinafter referred to as "Customer") and rents out the vehicle to the Customer for a fixed period (six (6) months). The Customer may switch vehicles at the end of each period, which means that the Customer can use up to six different models (among those specified by KINTO) based on a three-year contract.

・In addition to the Basic Contract, the Customer shall make a separate contract for a vehicle ("Individual Contract") every six (6) months.

・Before delivery of the first vehicle, the Customer shall select and decide on the second vehicle. (And before delivery of the second vehicle, the third vehicle will need to be selected. The same rule applies up to the sixth vehicle.)

・Documents required for registration (letter of proxy, seal registration certificate, and certification of parking space etc.) shall be submitted every six months.

・The cooling-off period is not applicable.

・When the individual contract period ends, the Customer shall return the vehicle to the Company. The Customer may not purchase the ownership of the vehicle.

Ⅱ.Ordering of Vehicle and Screening

・After a guarantee company (TOYOTA FINANCE CORPORATION, hereinafter referred to as "TFC") screens and approves the Basic Contract and the Individual Contract (for the first car), the Company will place an order at a dealership.

・For the second through the sixth vehicle, based on the order/Individual Contract application, the Company will place an order.

Ⅲ.Consumption Tax

・Consumption tax and Local consumption tax (hereinafter referred to as "Consumption Tax") will be imposed on the monthly subscription fee specified by Individual Contracts. If the Consumption Tax or other tax rates are changed by law after the conclusion of the contract,  the tax rates will be changed to abide to the law.

Ⅳ.Delivery and Handover

・The vehicle will be delivered by the LEXUS dealership. Upon delivery, we advise that the Customer has a dealership representative explain how to use the vehicle and that the Customer checks the vehicle's condition.

Ⅴ.Termination and Penalty Fees

・In principle, the Customer shall not terminate the Basic Contract and the Individual Contact before the Individual Contract period expires, except when the Customer is granted the lawful right to terminate the contract. Such right may be given on the occurrence of any of the following events.

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    If a vehicle r ented based on the Basic Contract and the Individual Contact has serious defects (anomaly, fault etc.) that do not allow normal use of the vehicle, even with repairing works.
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    If the Company fails to perform significant obligations.

・In the following event, the Customer shall pay the amount of money specified in the concept image below and the Basic Contract and the Individual Contact will be terminated.

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    In the event that the Customer request a cancellation of the contract., the rented vehicle must be returned to the Company. Please see below for the penalty fees.

Ⅵ.On the occurrence of any of the following events during the three-year period: (a)complete destruction resulting from accident, (b) loss due to theft, or (c) any other damage that cannot be repaired.

・Individual Contract will be terminated, and the Company will receive an insurance payout of up to a set amount for damages per accident. (Deductible is 50,000 yen. If the situation of the accident is included in the exclusion list, no insurance money will be paid.)

・If this occurs during the Basic Contract period, the Customer shall decide whether to continue or terminate the Individual Contract. If the Customer decides not to continue the Basic Contract and the vehicle which the Customer had planned to use (the fourth vehicle in the chart below) has already been ordered at the dealership, the Customer will be charged three months' worth subscription fee as a penalty.

Ⅶ.Defects to vehicler

・If the Customer finds any defect (anomaly, scratch etc.), the Customer should directly notify the manufacturer or LEXUS dealership and have it fixed.

・The Company shall not be held responsible for any defect caused to the vehicle, except when the Customer is granted the right to terminate the contract as provided in #5 of this statement.

Ⅷ.Taxes and Public Dues

・If a new vehicle tax is established during an Individual Contract period resulting in any change to the automobile tax rate, automobile weight tax rate or auto insurance premium, there will be no adjustment of the subscription fee between the Company and the Customer. If there is the establishment, reduction or exemption of automobile tax or automobile weight tax or reduction or exemption of auto insurance premium during an Individual Contract period, there will be no adjustment of the subscription fee between the Company and the Customer.

Ⅸ.Charges on a returned vehicle at the end of each six-month contract period

・The following costs pertaining to a returned vehicle shall be paid by the Customer.

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    Expenses required for restoring to the original state. If the deduction points for the interior and exterior are fifty (50) points (=50,000 yen) or less, the liability is released, If the total point exceeds fifty (50), the Customer shall pay the difference between the total point and fifty (50) points to their LEXUS dealership.* 1 point = 1,000 yen. The LEXUS dealership is responsible for evaluation.
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    Cost for mileage exceeding the monthly mileage allowance of 1,500km (total of 9,000km for six (6) months). (20 yen/km)
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    Depreciation cost for a vehicle with repair record.
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    In the event the vehicle is returned late, the monthly subscription fee for the period between the end of the contract and the date of return will be charged. (If the period is less than a month, it is calculated as a month.)

Ⅹ.Banned (prohibited) behavior

・The following behaviors are banned. In case of violation, the Customer will be charged the cost required for restoring to the original state.

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    Smoking
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    Pet (animals)
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    Modification of the vehicle
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    Replacement or falsification of meters
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    Use of the vehicle for a test or competition (including ones the Company deems to be equivalent to competition) or on racing grounds
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    Violation of laws or public policy
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    Subleasing of the vehicle, use of the vehicle by a third party, use of the vehicle as collateral

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