Guide on Chinabank Car Loan Requirements for Application
CHINABANK CAR LOAN REQUIREMENTS – Here are the lists of documents required by the bank in applying for the AutoPlus Loan.
Are you interested to apply for the car loan offer of Chinabank? It can help you achieve your dream car fast. You do not have to wait for years to be able to save money for the vehicle you dream to drive.
Aside from the Chinabank Salary Cash Loan offer, Chinabank offers a Car Loan. Under the offer, you only have to prepare an amount for the downpayment. It is set at a minimum of 20% of the selling price for brand new vehicles and 30% for pre-owned vehicles.
Aside from the downpayment, there are also Chinabank Car Loan requirements that you need to prepare and submit in applying for the loan. The list of documents required by the bank depends if you are locally-employed, employed abroad, self-employed or a professional, or a partnership or corporation.
Here are the Chinabank Car Loan requirements for application:
Locally-Employed Applicants
- completely filled-out Chinbank AutoPlus Application Form
- Two (2) valid IDs (applicant and spouse, if any)
- Latest Income Tax Return / BIR 2316
- Certificate of Employment with Compensation, position, and length of service
- Latest three (3) months’ pay slip
- Latest Proof of Billing under applicant’s name
Overseas Workers
- completely filled-out Chinbank AutoPlus Application Form
- Two (2) valid IDs (applicant and spouse, if any)
- Employment Contract / Contract from the manning agency
- Latest three (3) months’ pay slip
- Proof of Remittance for the last six (6) months
- Latest Crew Contract validated by POEA, if seafarer.
- Additional for Foreigners: Alien Certificate of Registration (ACR)
Self-Employed Applicants and Professionals
- completely filled-out Chinbank AutoPlus Application Form
- Two (2) valid IDs (applicant and spouse, if any)
- Certificate of Business Registration with DTI (Sole Proprietorship)
- Latest Income Tax Return
- Audited Financial Statements for the last 3 years
- Trade References (3 suppliers and customers)
- If Practicing Doctor, clinic address/es and schedule
- If Lessor, latest rental/lease contract
- Additional for Foreigners: Alien Certificate of Registration (ACR)
Partnership and Corporation
- completely filled-out Chinbank AutoPlus Application Form
- Two (2) valid IDs (co-borrower)
- SEC Registration
- Articles of Incorporation / Partnership
- By-Laws (if corporation)
- Latest Income Tax Return
- Audited Financial Statements for the last 3 years
- Current General Information Sheet (GIS)
- Notarized Board Resolution / Partnership Resolution (Chinabank prescribed format)
- Secretary’s Certificate (Chinabank prescribed format)
- Trade References (3 suppliers and customers)
- Business Background / Company Profile
There are additional Chinabank Car Loan requirements for the financing of a pre-owned vehicle purchase and a Multi-Purpose Loan. You need to prepare and submit the following documents for application:
- Original LTO Certificate of Registration with Official Receipts (under the applicant’s name)
- PNP Motor Vehicle Clearance Certificate with Macro Etching
- Original and Notarized Deed of Sale
- Three (3) sets of LTO Stencils
- Insurance Policy with OR of premium
In case you are applying for the Chinabank loan for the reimbursement of a vehicle purchase, you need to prepare and submit the following documents as well:
- Original LTO Certificate of Registration with Official Receipts (under the applicant’s name)
- Original Sales Invoice
- Original Delivery Receipt
- Original Official Receipt of Full Payment
- Three (3) sets of LTO Stencils
- Insurance Policy with OR of premium