Guide on BPI Car Loan Offer Features
BPI CAR LOAN – Here is a guide on the features of the Auto Loan offer of the Bank of the Philippines Islands.
There are a lot of benefits waiting if you have your own car. It is one of the best preparations for unforeseen circumstances most especially if medical emergencies happen in the wee hours of the day.
However, truth be told that a car purchase is something that many of us are not ready to do in case. In fact, even the individuals who have huge savings in the bank prefer a car loan so they can use their money in businesses and investment ventures where it can grow and help them pay for the loan.
In the country, one of the car loan providers is the Bank of the Philippine Islands. It is one of the biggest and most trusted banks in the country and it has more than 800 branches thus its offers are really accessible.
The BPI Car Loan offer is ready to finance a vehicle purchase whether it is a brand new or a second-hand car. Here are the qualifications set by the bank under the offer:
- at least 21 years old at the time of the loan application
- more than 70 years old upon the loan maturity
- earning a minimum household income of Php 30,000
With regards to the loanable amounts, it depends whether the vehicle to be financed is brand new or pre-owned. For brand new cars, here are the loanable amounts:
- Minimum Loan Amount: Php 200,000
- Maximum Loan Amount: Up to 85% of the purchase price
For second-hand cars, here are the loanable amounts under the car loan offer of the Bank of the Philippine Islands:
- Minimum Loan Amount: Php 200,000
- Maximum Loan Amount: Up to 70% of the purchase price
The BPI Car Loan is payable from one (1) year up to seven (7) years. What many people are not aware of is that there are three (3) excellent options that set an edge for the loan offer such as the following:
- Zero Cash Out
- Multi Year Protect Program
- Step Up PayPlan
The Zero Cash Out offer allows car acquisition without the need to cash-out a single centavo while the Multiyear Protect includes the insurance costs in the monthly payments. You may also plan your own payment process through the Step Up PayPlan.
Are you excited to get your dream car with zero cash out under the BPI Car Loan offer?
