Features of BPI Auto Loan Zero Cash Out Deal Offer for Qualified Clients
BPI AUTO LOAN ZERO CASH OUT – Here is a guide on the features of the zero cash out offer of the Bank of the Philippine Islands.
Are you looking for an entity that can help you achieve your dream car? In the country, one of the entities that you may turn to is the Bank of the Philippine Islands. More popularly called BPI, its Auto Loan offer can finance the following:
- acquisition of brand new vehicle
- purchase or second-hand or pre-owned vehicle
Countless Filipinos have achieved their dream car through the Auto Loan offer of the reputable bank. One of the best features of the BPI Auto Loan offer is that there are amazing deals that the borrower may avail.
One of the excellent offers is the BPI Auto Loan Zero Cash Out offer. Under the offer, you don’t need to shelve out a huge amount of cash. Instead, your deposit savings will serve as the holdout of the bank and your downpayment for your car loan.
The bank will hold an amount in your savings, current, or time deposiot account that is equivalent to 20% of the selling price of the vehicle. Under the offer, the bank offers Php 500,000 as the minimum loanable amount and a higher maximum borrowing amount allowed.
For example, if the vehicle costs Php 1,250,000.00, here is a comparison between the BPI Regular Auto Loan and the BPI Auto Loan Zero Cash Out deal offer:
| Specifics | Regular Auto Loan | Cash Out |
|---|---|---|
| Loan Term | 60 Months | 60 Months |
| Loan Amount | Php 1,000,000 | Php 1,250,000 |
| Down Payment | Php 200,000* | 0** |
Here is a more detailed comparison between the BPI Regular Auto Loan and the BPI Auto Loan Zero Cash Out offer:
| Specifics | Regular Auto Loan | Zero Cash Out |
|---|---|---|
| Amount of monthly payment/ amortization | Loan monthly amortizations are fixed and in equal amounts for the entire loan term with no annual price increase | Fixed equal monthly amortizations with the total amount equal to the car’s net selling price |
| Product Benefit | Set aside a specific fixed amount for your monthly amortization from the start of your loan up to its maturity | No cash out for downpayment |
| Type of Vehicle to Purchase | Brand New or Second-Hand Passenger Vehicle Can be used to purchase Big Bikes or Trucks | Brand New Passenger Vehicle |
| Term of Duration of Loan | 1,2,3,4 or 5 years | 5 years |
| Motor Insurance | With downpayment requirement for loan availment and car insurance is paid in lump sum every year | With downpayment requirement for loan availment and car insurance is paid in lump sum every year |
| Initial Cash Out | Standard cash-out for Insurance Premium and Chattel Mortgage | Zero cash out on downpayment |
Aside from this offer that does not require you to make a huge cash out, another amazing deal offered by the reputable bank is the BPI Auto Loan Step Up PayPlan that gives borrowers the chance to start with low and affordable monthly amortizations.