Guide on How Much You Must Prepare for the Downpayment Under BPI Auto Loan (Second-Hand Car)
BPI AUTO LOAN – Here is a guide on how much is the downpayment for the purchase of a second-hand car under this loan offer.
There are individuals who want to buy a brand new car while there are those who go after a second-hand vehicle. Are you one of those who plan to purchase a pre-owned car soon?
Both the purchase of a brand new car and a second-hand vehicle require a huge amount of money. Meanwhile, there is nothing to worry much about if you are really determined to have your own wheels soon.
You may apply for some financial assistance under a bank auto loan. One of the offers that you may consider is the BPI Auto Loan, an offer of the Bank of the Philippine Islands.
The said BPI loan offer is open for both brand new and second-hand vehicles. To be eligible to apply for it, the applicant must be:
- a Filipino / foreign national married to a Filipino / business entity
- at least 21 years old but not more than 65 years old
- earning a gross family income of at least Php 30,000.00 monthly
Under the BPI Auto Loan, you only need to prepare an amount for the downpayment – several folds smaller than what you have to pay if you will buy it in full payment. With regards to purchasing a second-hand car, you must prepare at least 30% of the selling price for the downpayment.
Do you want to know how much you can borrow under this BPI loan offer? Here is a guide on the loanable amounts and as well as the procedure and the requirements in applying for it – BPI AUTO LOAN – How To Apply & Requirements To Prepare in Applying.
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READ ALSO: BPI PERSONAL LOAN – Updated Minimum & Maximum Loanable Amounts Under It