Frequently Asked Questions
1. What kind of vehicles can I purchase with BPI Family Auto Loan? What are the minimum and maximum loan amounts? What are the terms?
- The minimum Loan Amount is Php 200,000.00. To avail of a loan, the purpose of the vehicle to be acquired should be for personal/business use and not an accommodation.
- Your Loan Package options are:
*Subject to credit approval
2. Am I eligible to get a BPI Family Auto Loan?
- YES, if you are a Filipino between 21 to 65** years old with a total monthy family income of at least Php 30,000.00. Foreign nationals married to Filipinos, or business entities like corporations and partnerships may also apply for an auto loan.
3. What do I need to submit when I apply for a BPI Family Auto Loan?
- If you are employed, we'll need a copy of your Certificate of Employment with Compensation and ITR, together with your completely filled-out application form.
- If you are self-employed, we would need copies of your business registration papers, articles of incorporation (if applicable), ITR and latest financial statements,a list of trade references including addresses and contact numbers, and your completely filled-out application form.
4. What kind of vehicles can I use as collateral for a Multi-Purpose loan?
- Vehicles that can be used as collateral are the following***
- Locally distributed brand new Cars, AUV, Van, Pick Up, SUV and Trucks
- Second Hand units (not more than 5 years old)
- Brand new imported vehicles
** Age must not be more than 65 years old upon maturity of the loan
*** Vehicle is subject to appraisal and assessment of car history
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