Guide on BPI Auto Loan Insurance Features & Benefits
BPI AUTO LOAN INSURANCE – Here is a guide on the Multiyear Protect, an insurance policy offer of the Bank of the Philippine Islands (BPI) for cars that are under its car loan.
Many people have acquired their car through a loan offer. There are now several banks and lending companies in the Philippines with multiple auto loan offers for the public. Most of the offers are open for both brand new and pre-owned vehicles.
If you will be getting a car through a loan offer, you need to prepare for the downpayment, the loan processing fee, and the insurance policy. Most downpayments require at least 20% of the selling price of the vehicle.
An insurance policy is a requirement for cars under a loan and it is also for the protection and benefits of the car owner. However, truth be told that paying for annual insurance in cash may make the financial burden of an aspiring car owner even heavier.
Meanwhile, for the borrowers of the auto loan offer of the Bank of the Philippine Islands, you may not only pay for your vehicle on a monthly installment basis but as well as the insurance policy that will provide you and your car with all-year protection.
The BPI Auto Loan Insurance offer is the “Multiyear Protect” which is also the first auto loan solution offered. It comes with an all-in-one services feature “that covers the entire life of your Auto Loan, and you pay everything in affordable monthly installments”.
What are the features and benefits of the BPI Auto Loan Insurance offer “Multiyear Protect”?
- Protect yourself from huge cash-out as you can pay for your car insurance in light monthly installments.
- Protect yourself from application hassles as this loan insurance offer covers the entire span that your car is under a loan.
- Protect yourself from financial expenses due to road mishaps.
Aside from this BPI car insurance offer that you can just pay in light monthly installments, you might also like the all-in car loan financing offer of the bank. You may visit – BPI Special Auto Loan: How To Apply & Requirements for Zero Cash-Out.