Guide on How Much Cash You Must Prepare for BDO Auto Loan Downpayment
BDO AUTO LOAN DOWNPAYMENT – Here is a guide on how much cash you must prepare for the downpayment under the car loan offer of BDO Unibank.
What is your dream car? Is it a sedan? a sports utility vehicle? a van? an Asian utility vehicle? Whatever it is, do you know that you may achieve it soon even though you cannot pay for it in full yet?
Nowadays, there are a lot of banks that offer assistance in getting a client’s dream car. One of these is the giant banking firm BDO Unibank. It can help you purchase a brand new or a pre-owned vehicle of your choice.
There are minimal requirements in applying for BDO Auto Loan. With regards to its eligibility requirements, the applicant must be:
- between 21-70 years old at the day of application and the maturity of the loan
- a Filipino citizen or a foreigner living in the Philippines for at least two(2) years already
- having a stable source of income from employment or business
According to BDO, the loan offer is open for both locally employed individuals and those who are working abroad. With regards to the income requirements in applying, you may visit – BDO AUTO LOAN – How Much Is the Required Monthly Income in Applying.
The bank offers a high maximum loanable amount under this offer. For a guide on how much you can borrow, you may visit – BDO AUTO LOAN – Minimum & Maximum Loanable Amounts Under This Loan.
Like in other offers, the applicant must prepare an amount for BDO Auto Loan Downpayment. Based on an article on eCompare Mo, it will depend on the type of vehicle that the client wants to purchase – whether it is a brand new car or a pre-owned one.
BDO Auto Loan Downpayment
- Brand New Car – at least 20% of the selling price of the vehicle
- Pre-Owned Car – at least 30% of the selling price of the vehicle
According to the article, the maximum loan tenor in buying a brand new car is 72 months and 48 months for the pre-owned one. Are you planning to apply for this loan offer? For a guide on the process and the requirements, you may visit – BDO Car Loan: How To Apply For Auto Loan To Banco de Oro.
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: BDO UNIBANK LOANS – Full List of BDO Personal & Business Loan Offers