BPI Auto Loan Ready To Get You the Car of Your Dreams

Guide on BPI Auto Loan Offer’s Impressive Features

BPI AUTO LOAN – The Bank of the Philippine Islands has an Auto Loan offer that is packed with excellent features.

In the country, one of the most reputable entities that provide loans is the Bank of the Philippine Islands. More popularly called BPI, it is one of the longest-operating banking companies in the country which is in the service of the Filipino people since 1851.

Through the years, BPI continuously grew its offers which include different types of bank accounts, credit cards, loans, insurance policies, investment products, and a lot more. It has multiple loan offers including the BPI Auto Loan.

Through the Auto Loan offer, the bank wants to turn your dream into a reality. It is open to finance any of the following purposes:

purchase of brand new car
purchase of second-hand car
truck acquisition
bike acquisition
multi-purpose loan using your car as the collateral

Under the BPI Auto Loan offer, there are varying loanable amounts depending if the vehicle is brand new or pre-owned. Here is a guide on how much you may borrow under the loan offer:

Brand New

Minimum Loanable Amount — Php 200,000
Maximum Loanable Amount — up to 85% of the purchase price of the vehicle

Pre-Owned Car

Minimum Loanable Amount — Php 200,000
Maximum Loanable Amount — up to 70% of the purchase price of the vehicle

Under the loan offer, you may avail the zero cash-out offer, the StepUp PayPlan which allows you to start with low monthly installments, or incorporating your insurance fees in your loan.

With regards to the interest rates under the loan offer, there are varying interest rates set by the Bank of the Philippine Islands Here are the interest rates for brand new cars:

Term	Add-on rate	Effective rate
12	5.43%	9.88%
18	7.73%	9.55%
24	11.30%	10.50%
36	17.76%	10.94%
48	24.13%	11.03%
60	31.01%	11.19%
72	38.42%	11.37%
84	46.39%	11.58%

With regards to the interest rates for the second hand cars, it is dependent on the chosen loan term with a maximum of up to 60 monthly installments or five (5) years repayment. Here is a guide on the interest rates for pre-owned vehicle purchase financing:

Term	Add-on rate	Effective rate
12	7.89%	14.26 %
18	11.87%	14.50%
24	16.08%	14.75%
36	24.80%	15.00%
48	34.20%	15.25%
60	44.32%	15.50%

Aside from the eligibility requirements, there are documentary requirements set in applying for the Auto Loan offer of the Bank of the Philippine Islands. The required documents vary among the employed and self-employed individuals.