BPI CAR LOAN READY TO HELP – Here is a guide on the Auto Loan offer of the Bank of the Philippine Islands.
Are you craving to take a grip of your dream car’s steering wheel? You can let the Bank of the Philippine Islands help you with that through the BPI Car Loan offer that can finance both brand new and second hand vehicle purchases.
BPI Auto Loan Offers These Huge Loanable Amounts for Brand New, Second Hand Car Purchase
Guide on the BPI Auto Loan Loanable Amounts & Qualifications
BPI AUTO LOAN – The Bank of the Philippine Islands offers huge loanable amounts for financing of a car purchase.
Nowadays, you do not have to wait for years to be able to save money and achieve your dream car. There are some options that can help you get that car now and just pay for it in light monthly installments.
One of the offers is the Auto Loan offer of the Bank of the Philippine Islands. It is ready to finance a car purchase whether the vehicle is brand new or a second hand car.
More popularly called BPI, the Bank of the Philippine Islands is one of the most popular and trusted banking entities in the country. It has been in the service of the Filipino people for decades already since 1851.
BPI actually has several loan offers. With regards to the BPI Auto Loan offer, the bank boasts about the fast application process, minimal requirements, and flexible options to make the loan affordable on the part of the client.
BPI also offers a Step Up PayPlan, zero cash out, and Multi Year Protect Program. The bank has over 800 branches nationwide thus its loan is really accessible to millions of Filipinos.
Who are qualified for the loan offer? The Bank of the Philippine Islands’ loan offer has set one of the shortest eligibility criteria for a car loan. Here are the qualifications that the aspiring loan applicant must meet:
- at least 21 years old upon the loan application but not more than 70 years old upon the end of the loan term
- earning a minimum household income of Php 30,000.00
The BPI Auto Loan loanable amounts depend whether the car to be financed is brand new or pre-owned. If the vehicle to be financed by the bank is brand new, here are the amounts allowed for borrowing:
- Minimum Loanable Amount — Php 200,000.00
- Maximum Loanable Amount — up to 85% of the purchase price of the vehicle
If the vehicle is a second hand car, here are the loanable amounts set under the loan offer;
- Minimum Loanable Amount — Php 200,000.00
- Maximum Loanable Amount — up to 70% of the purchase price of the car
The loan is payable up to seven (7) years — unlike most car loan offers that only allows a maximum loan term of five (5) years. It is best to know the interest rate in deciding which term you will get.
