Buying a new car, or refinancing your existing car loan? Metrobank Car Loan is your best option. Quick auto loan application process, flexible payment terms and low interest rates, you will definitely find the right one for you. Apply for Metrobank Auto Loan through eComparemo and let us handle everything.
Overview
| Loan amount | ₱250,000 to ₱5,000,000 |
|---|---|
| Loan term | 1 years to 5 years |
| Interest | 7.47% to 10.07% a year |
| Loan-to-value | up to 80% |
| Age | 21 to 65 years old |
| Approval time | 1 days (As fast as 1 day processing) |
| Admin fees | handling Fee of P1,500 for every processed application application |
| Registration fees | Chattel Mortgage Fees includes P500.00 for Notarial Fee, P500.00 for annotation Fee and encumbrance fee of P2,600 |
| Processing Fee | ₱1,500 |
Vehicle types
- Sedan
- AUV
- SUV
- Van
- Passenger Van
Loan purposes
- Purchase of Brand New Car
- Refinancing
- Use Owned Vehicle as Collateral for Loan
Key features
- Friendly and Personalized service in getting your Dream car
- Avail upto 80% of the net selling price of the unit
- Enjoy convenient repayment mode of Auto debit arrangemet or thru Post dated Check
Frequently asked questions
What are the general requirements needed for Metrobank auto loan application?
- Applicant must have a stable repayment source that can provide steady, regular and sufficient income to cover for the required monthly amortization of the loan, has the legal capacity to contract obligations, at least 21 years old and not exceed 65 years old upon loan maturity. If the applicant’s residence is rented, must have occupied the residence for at least 5 years and must have a landline. If the applicant is salaried, must be employed for at least 2 years as a permanent employee.
What are the required documents to apply for Metrobank car loan?
Employed:
- Signed car loan application form
- Valid Government-issued ID
- SIRV/I-Card/ACR (for Non-Filipino applicants)
- Latest Income Tax Return (ITR)* or certificate of employment with details on salary, position, and length of service (with contact number of the company’s HR)
Self-Employed:
- Signed car loan application form
- Valid Government-issued ID
- SIRV/I-Card/ACR (for non-Filipino applicants)
- Other Bank’s Statements or Latest Income Tax Return (ITR)*
- Audited Financial Statements
- DTI Certificate of Registration of Business / Trade Name or Business Permit
*ITR needed only if total loans with Metrobank exceeds PHP 3 Million.
How much can I borrow from Metrobank?
- Metrobank auto loan offers a minimum amount of PHP 250,000.00 and a maximum of 80% of the net selling price.
- Note: Downpayment should be at least 20% of the net selling price.
What vehicle types are allowed for Metrobank Auto Loan?
Any brand new vehicle may be availed as long as it is not China-made. This includes:
- Passenger Cars
- Passenger Vans
- Light Comm’l Vehicles
- Sports Utility Vehicles
- Asian Utility Vehicles