Guide on Maybank Auto Loan Refinancing Features and Requirements To Apply
MAYBANK AUTO LOAN REFINANCING – Here is a guide on the features and the requirements in applying for Maybank’s refinancing loan offer.
Not only residential properties but as well as cars are properties that you can use in times of financial needs. While cars are not the type of property with an appreciating value, in times of dire financial need, you may use its value in obtaining some funds without having to sell your car.
One of the options that allow it is the Maybank Auto Loan Refinancing. It can help you in raising funds for your personal and business needs. The bank accepts vehicles that are up to 10 years old.
With regards to the loanable amount under the offer, you may obtain up to an equivalent of 60% of the appraised value of your vehicle. The loan is payable for up to 24 months or two (2) years thus there is really an option for light monthly amortizations.
Based on the qualifications set by Maybank, the loan offer is open for self-employed individuals who are running a business that is operating for at least three (3) years already at the time of the loan application. Furthermore, the applicant must have no adverse records.
The loan processing may only take as fast as three (3) working days since the submission of a complete set of requirements. To apply for the Maybank Auto Loan Refinancing, here are the documents that must be submitted to the bank:
- duly-accomplished and signed Maybank Car Loan Application Form
- Latest income tax return
- 2 valid IDs (borrower and spouse / authorized signatory)
- Compensation certificate, income indicated (if employed)
- Business Papers (SEC Registration, Articles of Incorporation & By-Laws if Partnership and Corporation; DTI Registration if Single Proprietorship)
- Latest Audited Financial Statements (for Corporate Borrowers)
- Latest 3 months Bank Statements (if self-employed)
- copy of LTO Registration, Original LTO Registration and LTO Official Receipt of the vehicle for unit inspection and car history verification
Maybank is also ready to help bring your business to greater heights by adding a truck for the delivery of products and services. It has the Maybank Truck Loan offer which you might want to apply for.
