Guide on Requirements for BPI Auto Loan Zero-Out – What You Must Prepare
REQUIREMENTS FOR BPI AUTO LOAN ZERO CASH-OUT – Here is a guide on the documents that you need to prepare in applying.
Nowadays, there are a lot of offers that can help you achieve your dream car without having to go through a one-time big payment that may take you years to prepare for. You can get your car and just pay for monthly installments while enjoying the convenience and all the other benefits it can bring.
How is it possible? You may apply for a loan to banks or lending companies. The Bank of the Philippine Islands or more commonly called BPI is one of those with auto loan offers. There are requirements for BPI Auto Loan and you may choose the special offer which boasts “zero cash-out”.
Under the Zero Cash-Out offer of BPI, you only need to have 20% of the vehicle’s selling price in your deposit account. You do not have to withdraw it and use it to pay for the downpayment. It will serve as a “hold out downpayment” that is kept in your account.
The offer is open for both brand new and pre-owned vehicles. Do you want to know how much you may borrow under this loan offer? Feel free to visit – BPI Car Loan Zero Cash-Out: How Much You May Borrow Under It.
List of Requirements for BPI Auto Loan Zero Cash-Out
If employed:
- duly-accomplished loan application form
- copy of Certificate of Employment with compensation
- copy of ITR
If self-employed:
- duly-accomplished loan application form
- copy of business registration papers
- copy of articles of incorporation (if applicable)
- copy of ITR
- copy of the latest financial statements
- list of trade references including addresses and contact numbers
There are both eligibility and documentary requirements in applying for this BPI loan offer. To check for the former or to see if you are qualified to apply for this special loan, you may visit – BPI Auto Loan Zero Cash-Out: Who Are Qualified To Apply for this Offer.
The amount borrowed can be repaid to BPI for up to 5 years. The account accepted for the hold-out deposit includes savings, current, and time deposit accounts.
You may also visit – BPI All-In Financing for Housing Loan: 2 Ways To Apply For It
