Loans

How to Apply for a Car Loan

In addition to offering a wide selection of second-hand vehicles, we also assist you in securing financing to make the process of purchasing your car easier and more convenient. Below is a comprehensive guide on how to apply for a loan through us

Loan Eligibility Criteria

To apply for a loan through us, you have to meet the following criteria:

  • Be at least 21 years old but not exceed 70 years old at the end of the loan term.
  • Have a stable source of income from employment or business:
    • Locally employed: at least 2 years with the current company.
    • Self - employed: at least 2 consecutive profitable years of operation.
    • Employed abroad: 2-3 years of consecutive employment. If you are not in the Philippines at the time of applying, it is required to assign a Beneficiary as Loan Administrator.

The loans are available for both Filipino citizens and foreign nationals.

Documentation

To complete your loan application, you will need the following:

Basic Documents

  • Filled-out application form.

Identification Documents

  • Photocopy of one (1) valid government-issued ID matching the application details. Some examples of valid IDs are:Driver’s License, Passport, Tax Identification Number (TIN) ID, Social Security System (SSS) ID, Government Service and Insurance (GSIS) eCard.
  • For Foreigners, Alien Certificate of Registration with a Work Permit.

Income Documents

  1. Locally Employed (provide one of the following):
    • Latest Income Tax Return, BIR Form 2316 or latest payslip.
    • Certificate of Employment with salary details.
    • For foreign nationals: current employment contract.
  2. Self-Employed:
    • Photocopy of Audited Financial Statements for the last 2 years including the latest ITR.
    • Bank Statements or Passbook copies for the last 3 months.
    • Certificate of Business Registration.
  3. Employed Abroad (provide one of the following):
    • Proof of Remittance for the last 3 months
    • Latest Crew Contract (if sea based)
    • Consularized Certificate of Employment with Income (COEI) or latest three (3) months' payslips