BPI Auto Loan Philippines

  1. #18582
    Tina Member

    BPI Auto Loan Philippines

    BPI Family Auto Loan offers the following deals:

    • Brand New: We can source it for you or we can reimburse you for the new vehicle you recently purchased in cash.
    • Second hand: We offer financing of acceptable second hand motor vehicles where proceeds of loan are paid directly to the seller or owner of the unit.***

    ** Age must not be more than 65 years old upon maturity of the loan
    *** Vehicle is subject to appraisal and assessment of car history

    Eligibility Requirements:
    • Filipino between 21 to 65** years old with a total monthy family income of at least PHP 30,000.00.
    • Foreign nationals married to Filipinos, or business entities like corporations and partnerships may also apply for an auto loan.
    • Age must not be more than 65 years old upon maturity of the loan

    BPI Auto Loan Requirements:
    • Auto Loan Application Form
    • Duly accomplished Application Form
    • 2 valid Identification Cards
    • If married, both spouses to sign on the application form
    • If with co-borrower or co-mortgagor, separate application form is needed
    • Income Documents

    If locally employed (working within the Philippines:
    • Certificate of Employment (COE) indicating salary, position and length of service
    • Latest Income Tax Return (ITR)

    If Expat Pinoy (Overseas Filipino Worker):
    • Contract / Certificate of Employment (COE)
    • Crew Contract and Exit Pass validated by POEA (seaman)
    • Proof of monthly remittances
    • Notarized or authenticated Special Power of Attorney (BPI FSB Format)
    • Duly accomplished Auto Loan Application form required by POEA

    If Self-Employed:
    • Articles of Incorporation and By-Laws with SEC Registration Certificate
    • G.I.S. (General Information Sheet)
    • Audited Financial Statements for the last 2 years
    • DTI Registration
    • Income Tax Return w/ audited financial statements for the last 2 yrs
    • List of Trade References (at least 3 names with telephone nos. of major suppliers/customers)
    • Bank Statements for the past 6 months

    If Practicing Doctor:
    • Clinic address/es and schedule
    • Income Tax Return w/ audited financial statements for the last 2 yrs

    If from Rental of Properties:
    • Rental/Lease Contract (indicating name of tenants and rental amounts with complete addresses of properties being rented)
    • Photocopy of Title (TCT/CCT)

    Interest Rates:
    Low rates and down payment options as low as 20%

    • Brand New Vehicle: As low as 20%
    • Secondhand Unit: As low as 30%
    • Brand New Truck: As low as 30%

    Loan Tenure:
    Flexible payment terms of up to 60 months

    Brand New Vehicle: 1-6 years
    Secondhand Unit: 1-5 years
    Brand New Truck: 1-3 years

    Mode of Payment:
    Automatic Debit Arrangement (ADA, Online Banking, Over the Counter

    Terms and Conditions:
    • Loan decision in as fast as 3 to 8 hours*
    • The minimum Loan Amount is Php 200,000.00.
    • To avail of a loan, the purpose of the vehicle to be acquired should be for personal/business use and not an accommodation.

    Other Products:
    BPI Credit Cards
    BPI Housing Loan
    – BPI Ka-Negosyo Business Loans (SME)
    BPI Personal Loan
    – BPI Deposits

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