BDO Auto Loan Philippines

  1. #18581
    Tina Member

    BDO Auto Loan Philippines

    Apply for a BDO Auto Loan for the following vehicles:

    – Brand-new vehicles – this includes passenger cars, AUVs, vans, SUVs, and LCVs;
    – Second-hand vehicles – the vehicle must not exceed six (6) years upon loan maturity;
    – Imported vehicles – this can be a brand-new or a used imported vehicle. Different terms will apply for each.

    Eligibility Requirements:
    • 21-65 years old (not exceeding 65 years old upon loan maturity)
    • Filipino or Foreign based Filipino
    • With gross family income of P50,000
    • Employed/Self-employed for at least 2 years
    • Good credit standing

    • Gross family income of PHP 50,000.00 or its US dollar equivalent;
    • Filipinos, or former Filipinos with or without dual citizenship; or Filipinos married to foreigners; or Foreign based Filipinos / OFW and their beneficiaries
    • Note: in case the remitter is not in the country at the time of application, the beneficiary will act as the borrower
    • At least 2 years continuous employment abroad.
    • Beneficiary must be living or working within BDO serviceable area

    BDO Car Loan Requirements:
    • Fully accomplished and signed application form
    • Income Documents

    If locally employed:
    • Latest Income tax Return (ITR) / full month payslip and Tax Identification Number (TIN)
    • Certificate of Employment with compensation details

    If self-employed or owns a business:
    • Photocopy of Certificate of Registration issued by DTI
    • Latest Audited Financial Statements for the last 2 years with latest ITR
    • Three (3) Business References either Supplier or customer with contact details
    • Latest 3 months bank statements (if non-BDO depositor)
    • Corporation and Partnership
    • Complete corporate papers (SEC Certificate of Registration, Articles of Incorporation, By-laws)
    • Secretary’s Certificate / Partnership Resolution (using BDO format)
    • Latest Audited FS for the last 2 years with latest ITR
    • Additional covenant form for signature

    • PDCs/ADA Instruction if mode of payment is Debit to Account
    • Chattel Mortgage Fees
    • Insurance Policy with OR of Premium Payment

    • Certificate of Employment or current employment contract for the last 6 months;
    • Contact details of your local employer
    • Remittance receipts or its equivalent proof of remittance

    Loan Term:
    For Brand New – choose from 12 to 72 months (1 to 6 years)
    For Used Cars – choose from 12 to 48 months (1 to 4 years)

    Mode of Payment:
    Automatic Debit Arrangement (ADA) from your BDO account or via issuance of PDCs.

    Terms and Conditions:
    • Minimum down payment for Brand New cars is 20% of the purchase price.
    • For Used Cars, minimum downpayment is 30% of the purchase price.
    • Brand New Car:
    – Minimum starts at P100,000;
    – Up to 80% of vehicle selling price
    – 20% of vehicle selling price
    – Minimum of 12 months, maximum of 72 months
    • Used Car:
    – Minimum starts at P100,000; Up to 70% of vehicle’s appraised value
    – 30% of vehicle’s appraised value
    – Minimum of 12 months, maximum of 48 months

    Other Products:
    BDO Credit Cards
    BDO Personal Loan
    BDO Home Loan
    – BDO Small Business Loan
    – BDO Deposit

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