Maybank Car Loan for Brand New Purchase: How To Apply, Requirements, Downpayment…

Guide on Maybank Car Loan for Brand New Purchase Details & Application Process

MAYBANK CAR LOAN FOR BRAND NEW PURCHASE – Here are the details on the loan offer, the downpayment, how to apply for it, and the requirements.

Are you in search of a bank where you may apply for a car loan? Maybank Philippines is one of the entities that you may turn to. It is a trusted banking giant in the country.

The car loan offer of the bank is open for several purposes. You may apply for it for the financing of your brand new car purchase, acquisition of a pre-owned vehicle, car loan refinancing, or purchasing a truck. In this article, we will focus on the loan offer for the purpose of buying a brand new car.

Maybank Car Loan
Photo Credit: New Straits Times

Maybank Car Loan for Brand New Purchase

The bank can help finance your brand new car purchase and the offer is open for both personal and business uses of the vehicle. You only need to prepare at least 20% of the selling price of your target vehicle for the downpayment. For example, if the selling price is P1 million, you only need to prepare at least Php 200,000.00.

Do you want to know how much you may be paying for monthly under the loan offer? Feel free to visit – Maybank Car Loan: How Much You Must Pay for Monthly Based on Income.

Who are qualified to apply for this loan offer?

Maybank has set qualifications which the bank considers in determining the eligibility of the applicant for the loan offer. To qualify for this loan, the borrower must be:

  • at least 25 years old upon the loan application but not over 60 years old upon the loan maturity
  • having no adverse records
  • a residential property owner
  • permanently employted for at minimum of two (2) years already or running a profitable business for at least three (3) years already

List of Requirements in Applying:

There are documents that you must prepare and submit to Maybank in applying for its car loan offer. In applying, bring the following documents:

  • two (2) valid IDs each among the borrower, spouse or another authorized signatory
  • completely filled-out and signed Maybank Car Loan Application Form
  • latest Income Tax Return (ITR)
  • proof of income:
    • If employed, submit your Certificate of Compensation indicating your income
    • If self-employed, submit your business papers such as your Securities and Exchange Commission Registration, Articles of Incorporation & By-Laws for partnership and corporations, and Department of Trade and Industry (DTI) Registration for single proprietorship
    • If corporate borrowers, submit your latest Audited Financial Statements

You may also visit – MAYBANK LOANS – Full List of Maybank Loan Offers You May Apply For

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