Auto Loan All Out Promo
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BPI Family Auto Loan applications received from July 13-Sep. 30, 2019 may avail of the promo offer below:
Free Chattel Mortgage Fee;
Waived Processing Fee; and
Free Comprehensive Car Insurance for the First Year by BPI MS Insurance Corporation
Client must meet the following conditions to qualify for the promo:
Loan amount should be within the range of P500,000.00 to P5,000,000.00.
A minimum of 5-year loan term qualifies the client for client for: Free Chattel Mortgage Fee, Waived Processing Fee and Free Comprehensive Car Insurance for the First Year by BPI MS Insurance Corporation
Minimum down payment should be at least 20% of vehicle’s net selling price
Vehicle must be brand new
Vehicle must be purchased from a dealership accredited by BPI Family Savings Bank.
Vehicle must be for private use only. Vehicles used for mass transport, carrying or service or delivery of persons or goods such as but not limited to: TNVS, school bus, taxi, utility vehicles, light trucks and the like are not eligible for the promo.
Loan amount must be availed* on or before Nov. 30, 2019
Until the loan, and all other amounts due as a consequence of the loan, is fully paid, the eligible borrower/s agree and undertake to comply with the following conditions:
- Client must not pre-terminate / pre-pay the loan.
- In the event that client fails to comply with the condition above, the loan account or deposit account of the client shall be charged the insurance premium for the initial year at standard rates.
- Promo offer is not convertible to cash.
- After the free first year comprehensive car insurance, the comprehensive car insurance of the vehicle shall be automatically renewed and exclusively maintained with BPI MS Insurance Corporation for the duration of the loan term. The client pays for the car insurance premium from the second year onwards.
- Eligible borrowers who do not have a BPI or BPI Family Savings Bank account shall be required to open a savings account with either BPI or BPI Family Savings Bank before loan release to facilitate loan repayment via automatic debit arrangement (ADA).
- The other standard terms and conditions of the auto loan agreement apply.
- In case of dispute, the decision of BPI Family Savings Bank, in concurrence with DTI, regarding this promo will be deemed final and non-negotiable.
- BPI Family Savings Bank shall ensure that the promo offers are given to qualified clients based on the promo mechanics. The Terms and Conditions of the “Auto Loan - All Out 2 Promo“ shall form an integral part of the Promissory Note with Chattel Mortgage and Credit Advice which the client will execute with BPI Family Savings Bank.
*subject to submission of complete requirements to release full loan amount to client or seller
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