BDO Auto Loan Downpayment 2023 — Guide on How Much You Must Prepare

Guide on BDO Auto Loan Downpayment 2023 Based on Car Type

BDO AUTO LOAN DOWNPAYMENT 2023 – Here is a guide on how much you must prepare based on the type of car you want to purchase under the loan.

Nowadays, banks are among the entities that offer multiple types of loan. One of the common loan offers is an auto loan. In the Philippines, BDO Unibank is one of the banking entities with the said offer and its offer comes with excellent features.

The BDO Auto Loan offer covers purposes that involves not only brand new vehicles but as well as pre-owned cars. Truth be told that there are individuals who prefer purchasing secondhand vehicles because of their much lower prices.

Also, the loan offer is open not only for locally-employed individuals and overseas Filipino workers (OFWs) who have stable sources of income but as well as self-employed individuals. You may apply for the loan offer to finance any of the following purposes:

• Purchase of Brand-New Cars including Electric and Hybrid Electric models
• Reimbursement of Brand-New Car Purchase
  • Vehicle must not be more than one (1) month old from delivery date of dealer to the owner and with a mileage of less than 2,500 kilometers  
• Purchase of Pre-owned Cars
  • Year model must not exceed six (6) years upon loan maturity

If you are wondering about the BDO Auto Loan loanable amounts 2023, the amounts actually vary. They are based on the assessment of the bank. Meanwhile, you may make use of the BDO Auto Loan calculator provided by the bank to find the package that best suits your budget.

With regards to the BDO Auto Loan Downpayment 2023, it depends whether the vehicle is brand new or pre-owned. The type of use, personal or business, is also a factor considered by the bank.

Here is a guide on the downpayment under the BDO Auto Loan 2023 offer based on vehicle type:

BDO Unibank has set different eligibility requirements for application to the loan offer depending on the employment status of the borrower. Here are the sets of eligibility criteria:

For Locally-Employed Applicants:

• At least 21 years old but not exceeding 70 years old at the end of the loan term
• Filipino citizen or foreign nationals
• Minimum gross family income of ₱50,000/month or its equivalent in US Dollars
• at least 2 years with current company 

For Self-Employed Applicants:

• At least 21 years old but not exceeding 70 years old at the end of the loan term
• Filipino citizen or foreign nationals
• Minimum gross family income of ₱50,000/month or its equivalent in US Dollars
• at least 2 consecutive profitable years of operation 

For Overseas Filipino Workers (OFWs):

• At least 21 years old but not exceeding 70 years old at the end of the loan term
• Filipino citizen or foreign nationals
• Minimum gross family income of ₱50,000/month or its equivalent in US Dollars
• 2-3 years consecutive employment. Assignment of Beneficiary as Loan Administrator if not in the Philippines at the time of application  

To apply for the BDO Unibank loan offer, aside from checking the eligibility criteria, another initial step is to prepare the requirements for BDO Auto Loan application. Make sure you have the complete documents.