Car Loan
Car Loan is simply exchanging the value of your vehicle to a 70% cash Fair Market Value of your vehicle. The company will not take your vehicle as collateral but only the OR/CR. This product is for the people who has no intention of really selling their vehicle because they really need it daily or for some other reason but rather only need emergency cash or additional funds for their business.
Car Loan Requirements
Basic Documentary
1. Completely Filled Up Application Form
2. 2 Government Issued valid ID's
3. 2 pcs 2x2 pictures
4. Latest Electric Bill or Water Bill
5. ID of Spouse (If Married)
Major Requirements
6. Photocopy of OR/CR
7. 4pcs Stencil in LTO Blue form
8. TIN number
9. Proof of Income
> Latest 3 month payslip, Company ID and COE (if employed)
> DTI and Business Permit (If have a Business)
> Latest 3 consecutive Months Bank Statement (If any)
Co-Borrower Requirements ( required for 510K up approval)
10. Spouse or immediate relative with stable income
11. 2 Government Issued valid ID's
12. 2 pcs 2x2 picture
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Accepted Year Model
2003 up to the latest models
Interest Rates
> 2013 up to the latest models 1.3% per month
> 2012 down to 2008 models 1.5% per month
> 2003 to 2007 models 1.6% per month