Guide on BPI Auto “Step Up” Loan Downpayment (Minimum Amount)
BPI AUTO “STEP UP” LOAN DOWNPAYMENT – Here is a guide on how much you must prepare for the downpayment of this Bank of the Philippine Islands (BPI) loan offer.
Most people have their “dream” cars. However, to some, it still remains a dream as buying one requires a huge amount of money – equal to years of saving or even decades if you will do it in cash.
Whether you are planning to buy a brand new one or a second-hand vehicle, either of them requires a big amount. Meanwhile, there are options that can help you obtain your dream car without having to wait for years.
One of these options is through a loan. You may apply for an auto loan to banks like the Bank of the Philippine Islands or BPI.
In fact, the bank now has a new offer when it comes to auto loan – the Step Up Payplan. It is really in time for the COVID-19 pandemic as not everyone can afford a huge monthly payment right away.
Under the Step Up Payplan, your monthly amortization will increase yearly so you have ample time to make financial adjustments. It is only open for brand new vehicles.
To check on its difference from the regular auto loan offer of BPI, feel free to visit – BPI AUTO LOANS – Differences Between Regular Auto Loan & Step Up Pay Plan.
With regards to the BPI Auto “Step Up” Loan downpayment, according to the bank, the borrower must prepare at least 15% of the purchase price of the vehicle.
You might also like to know how much you can borrow under this loan offer. You may visit – BPI Auto “Step Up” Loan – How Much You Can Borrow For Car Purchase.
The application for the BPI loan offer can be done personally or online. To submit it online, do it through the official website of BPI.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: BPI Loans Loanable Amounts – How Much You Can Borrow Per BPI Loan
