Guide on CitySavings Motorcycle Loan Downpayment Based on Vehicle Type
CITYSAVINGS MOTORCYCLE LOAN DOWNPAYMENT – Here is a guide on how much you must prepare as downpayment under the motorcycle loan offer.
Are you planning to buy a motorcycle but you want to do it under a motorcycle loan to an entity? There are banks and lending companies that can assist you with their motorcycle loan offers. One of these is CitySavings Bank which offers a motorcycle loan that covers both two-wheeler and three-wheeler motorcycles.
The CitySavings Bank Motorcycle Loan offer is open for employed, self-employed, sole proprietor, and pensioner applicants. You may also apply as a corporation. Individuals who receive regular remittances may also apply for this loan offer.
CitySavings Motorcycle Loan Downpayment for Two-Wheeler Motorcycles:
- If the selling price of the two-wheeler motorcycle is below P90,000, the minimum downpayment is 5% of the selling price of the vehicle. For example, if the selling price is P95,000, the downpayment should not fall below P4,750.
- If the selling price of the motorcycle is P90,000 or above, the minimum downpayment is 8% of the selling price of the motorcycle. If the selling price is P120,000, the downpayment is at least P9,600.
CitySavings Motorcycle Loan Downpayment for Three-Wheeler Motorcycles:
- If the selling price of the three-wheeler motorcycle is P90,000 or above, at least 10% of the selling price is required for downpayment. For example, if the selling price of the motorcycle is P150,000, the minimum downpayment required by CitySavings Bank is P15,000.
Do you want to know how much you may borrow under the CitySavings Bank Motorcycle Loan offer? To check on the minimum and maximum loanable amounts based on the motorcycle type, you may visit – City Savings Motorcycle Loan: Here are the Minimum & Maximum Loanable Amounts.
To apply for the said CitySavings Bank loan offer, there are documents you should submit. To check on the documentary requirements, you may visit – Motorcycle Loan to CitySavings Bank: List of Requirements You Must Prepare.
