Fast Auto Loan Approval

The quickest way to owning your dream car

Compare Auto Loans

Find the Best Car Loan in the Philippines

You can now choose an auto loan with flexible payment options to suit your lifestyle. With’s car loan calculator, your dream car is just a few clicks away.

Complete listing of car loans from leading banks

Our comparison tool will show you the leading offers on car loans in the Philippines.

Learn everything you need to know about car loans

We'll show you all the eligibility and requirements to get a car loan

Use our auto loan calculator

Our auto loan calculator is accessible online and available for comparison on interest rates

Compare Auto Loans Here

Car Loans from the Best Loan Providers in the Philippines

To get started, use eCompareMo's easy-to-use auto loan comparison portal to search for the best car loan rates.

Getting a car loan in the Philippines is a convenient way to acquire a car without the need to shell out a huge amount of money. It is a type of personal loan that enables buyer to pay on a monthly basis instead of paying one time with a big amount.


To get approved, the potential buyer must have a good credit score as proof to the bank or preferred financiers that you are capable to pay on schedule. Clients are highly advised to pay a higher deposit to help lower interest rates and pay lighter monthly.

Compare Car Loans Here

Auto Loan in the Philippines: How it works

Through an auto loan, you can purchase a vehicle with the use of consumer credit. A car loan allows an individual to buy a vehicle that is more expensive than what could be afforded in a lump sum, or cash, purchase. With the help of financial institutions in the Philippines, a person can acquire a vehicle at more affordable payment terms, which is usually in an installment basis. gives you the convenience of choosing from a wide range of car loan with the lowest interest rate, most flexible terms, hassle-free documentation, and the fastest processing time.

  • Get a car loan starting from P150,000 up to 80% of the purchase price of the vehicle.
  • Purchase a brand-new or secondhand car, SUV, or van.
  • Finance your vehicle for up to 6 years for brand new vehicles and up to 4 years for secondhand vehicles.
  • Have your car loan application approved in as fast as 8 hours.

Car Loans FAQs

Your questions about car loans answered.

There are many ways consumers can make use of an auto loan:

  1. Purchase a new or used vehicle through bank financing and paying it back for a specific period of time, which is usually in equal monthly amortization of principal and interest.
  2. Reimburse the cost of a brand new vehicle within 30 days from purchase.
  3. Get cash loan by using your existing car as collateral.
    Refinance an existing auto loan.

It is best to be well informed before signing up for a car loan.

There are numerous banks and financial institutions in the country that offer loans. However, information overload can cause confusion to customers, who often end up without full understanding of the terms.

It’s good that you can use a calculator that’s accessible online and compare available auto loan interest rates in the Philippines based on your monthly income and other specifications.

This will also help you choose the bank loan offer that caters most to your needs and financial capacity. It is also a time saver because you don’t need to go from one bank branch to another to gather the information you need.

Here are the eligibility requirements for getting a car loan:

  • Applicant must be between 21-65 years old
  • Must be a resident of the Philippines
  • For employed applicants, the gross income must not be below P50,000
  • For self-employed applicants, they must be the owner of a business and operating for at least 2 years

  • Completely filled auto loan application form
  • Photocopy of any valid ID (Passport, Driver's License, Voter's ID, SSS ID, GSIS ID, PRC ID)
  • For employed applicants, they must submit the following: Original copy of COE or Certificate of
  • Employment, Photocopy of at least 2 months payslip, ITR or Income Tax Return with BIR or bank stamp for at least 1 year
  • For self-employed applicants, they must submit the following: Photocopy of latest ITR with BIR stamp, Photocopy of Business Registration from DTI or SEC, Copy of Audited Financial Statements of at least 2 years

To get approved, the potential buyer must have a good credit score as proof to the bank or preferred financiers that you are capable to pay on schedule. Clients are highly advised to pay a higher deposit to help lower interest rates and pay lighter monthly.

Yes. Some banks will allow you to use your own car as collateral when you apply for a car loan.

The down payment will depend on your car dealer. Nowadays, you’ll find dealers offering low up-front payments. It is your obligation to know how much your down payment will be for your chosen vehicle prior to applying for a loan.

Auto loan repayments can be done over the counter (OTC) , through post-dated checks (PDC), or you can opt for auto-debit.

Yes, provided that co-maker is a Filipino. If you have no relatives here, it can be your co-employee or of the same position.

You can still apply for a car loan in another bank as long as you have maintained good credit record and have the capacity to pay for another loan.

No matter your payment method, (see question no. 2) you should regularly pay on or before your due date. If you’re using post-dated checks, make sure that your account is well funded. Know your cut-off and due dates so you don’t miss any payments and avoid late payment charges.

The common vehicles that people apply for are action utility vehicle (AUV), sports utility vehicle (SUV), and sedan, whether brand new or second hand.

Getting a car loan with bad credit is not possible. Banks only accept applicants with good credit standing, with a gross monthly income of at least P50,000.

Car Buying Guide: 6 Simple Tips To Make You A Better Buyer
Kevin Joshua Ng
Kevin Joshua Ng 7 min read