Guide on How Much You May Borrow Under the BPI Auto Loan
BPI AUTO LOAN – Here is a guide on how much you may borrow under the auto loan offer of the Bank of the Philippine Islands.
A car is one of the best and most useful possessions a person can ever have. It can make your everyday living more convenient and easier – not only for you, but even for your loved ones.
If you have your own car, you can get anywhere you want at any time of the day or night. You can devise options to skip the traffic like adjusting your travel period and, unlike taking a public commute, the travel is continuous. You need not to stop in every block.
Also, having your own car is an excellent preparation for emergency situations. It is really great if there is at least one (1) car in the house and at least two (2) people know how to drive.
Buying a car required a huge amount of money – there is no question to that IF YOU WILL DO IT IN CASH. But if you cannot afford to pay it in full yet, you can go for loans.
Let us take for example the BPI Auto Loan, an offer of the Bank of the Philippine Islands. It is open for both brand new and second-hand vehicle purchase. It is even open to assist a purchase of a brand new truck.
Who are eligible to apply for it?
- a Filipino / a foreign national married to a Filipino / partnership / a business entity
- at least 21 years old but not more than 65 years old upon the loan maturity
- with at least Php 30,000.00 total family income per month
How much can you borrow under the BPI Auto Loan?
The minimum loanable amount under this BPI loan offer is Php 200,000.00. The maximum loanable amounts may be the result of the selling price deducted by the following downpayments:
- Brand New Vehicle – 20% of the selling price
- Second Hand Vehicle – 30% of the selling price
- Brand New Truck – 30% of the selling price
Are you interested to apply for the said BPI loan offer? You may visit – BPI AUTO LOAN – How To Apply & Requirements To Prepare in Applying.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: BPI LOANS – List of Loan Offers by Bank of the Philippine Islands (BPI)