Auto Loan
WHAT WE OFFER
Financing for your car purchase
Apply for a BDO Auto Loan to finance your brand new or pre-owned car whether for personal or business use.
Affordable Cash-out
For a lighter initial payment, you choose any of the following:
- Low Downpayment, an option to maximize loan amount.
- All In Financing, a financing option inclusive of Chattel Mortgage Fees and First Year Motor Insurance Premium.
- Multi Year Motor Insurance Coverage, a discounted package where the insurance premium covering the entire term of the loan can form part of the amount to be financed.
More
Low Rates
Avail of our competitive rates and get loan approval within 24 hours.
Flexible Repayment Terms
To make monthly payments more manageable, select a loan term that works best for you. For a lower monthly amortization, you may opt to maximize the loan term
| Brand New | Pre-Owned | |||
| Personal Use | Business Use | Personal Use | Business Use | |
| Max. Loan Term | 5 years | 3 years | 4 years | 2 years |
Rewards Points via BDO Rewards
Earn BDO Rewards points which can be redeemed at SM and its retail partners.
HOW TO APPLY
Step 1: Check Your Qualifications
- At least 21 years old but not exceeding 70 years old at the end of the loan term
- Filipino citizen or foreigners residing in the Philippines for at least 2 years
- Minimum gross family income of P50,000/month
- With stable source of income from employment or business
| Locally Employed | Self-Employed | Employed Abroad |
|
at least 2 years with current company |
at least 2 consecutive profitable years of operation | 2-3 years employment |
Step 2: Prepare The Documents
Basic Document
- Completely filled out application form
Identification Documents
- Photocopy of one (1) valid ID matching application details (e.g. Passport, Driver’s License, SSS, PRC, OWWA ID, OFW ID, Seaman’s Book)
- For Foreigners, Alien Certificate of Registration with Work Permit
Income Documents:
| Locally Employed | Self-Employed | Employed Abroad |
|
Any of the following:
|
|
Any of the following:
|
Step 3: Submit Your Application Form and Requirements
Submit through any of the following channels:
- Apply Online
- More than 1,200 BDO Branches
- BDO Auto Loan Provincial Business Centers
Click here for the printable version of the complete list of requirements.
TOOLS TO HELP YOU
Auto Loan Calculators
Compute for a loan package that suits your budget.
Auto Finder
Check the latest car models and compare them.
Check pre-owned car models and compare them.
Step 1: Check Your Qualifications
- At least 21 years old but not exceeding 70 years old at the end of the loan term
- Filipino citizen or foreigners residing in the Philippines for at least 2 years
- Minimum gross family income of P50,000/month
- With stable source of income from employment or business
| Locally Employed | Self-Employed | Employed Abroad |
|
at least 2 years with current company |
at least 2 consecutive profitable years of operation | 2-3 years employment |
Step 2: Prepare The Documents
Basic Document
- Completely filled out application form
Identification Documents
- Photocopy of one (1) valid ID matching application details (e.g. Passport, Driver’s License, SSS, PRC, OWWA ID, OFW ID, Seaman’s Book)
- For Foreigners, Alien Certificate of Registration with Work Permit
Income Documents:
| Locally Employed | Self-Employed | Employed Abroad |
|
Any of the following:
|
|
Any of the following:
|
Step 3: Submit Your Application Form and Requirements
Submit through any of the following channels:
- Apply Online
- More than 1,200 BDO Branches
- BDO Auto Loan Provincial Business Centers
Click here for the printable version of the complete list of requirements.
APPLYING FOR AN AUTO LOAN
What are the available car financing options?
BDO Auto Loan offers financing for the following purpose:
● Purchase of Brand New units for Personal or Business
use
◦ Types: Passenger cars, Asian Utility Vehicles
(AUVs), Vans, Sports Utility Vehicles (SUVs),
Light Commercial Vehicles (LCVs)
● Reimbursement of Brand New units for Personal or
Business use:
◦ Vehicles should not be more than one (1) month
old from delivery date of dealer to the owner,
and with a mileage of less than 2,500 kilometers
● Purchase of Pre-owned vehicles
◦ Passenger cars, AUVs, Vans, SUVs, LCVs
◦ Age of vehicle must not exceed six (6) years upon
loan maturity.
I am working abroad. How can I apply for an Auto Loan?
You may send your application through this website. Click here to proceed to our application form, and our Account Officer will contact you.
In case your spouse is based in the Philippines, he/she can be the principal borrower. By having the principal borrower here in the Philippines, signing of loan documents and submission of necessary requirements can be faster. To make the process easier, he/she can apply for an Auto Loan and submit an accomplished Affidavit of Marital Consent* together with the application form.
* The Affidavit of Marital Consent is a document signed by the spouse living in the Philippines (1) to enter into a loan application with BDO and (2) to sign the loan documents in his / her spouse’s behalf. The document must be notarized, and will be submitted to the Account Officer upon loan approval.
What are the loan-related fees that I need to prepare for in relation to my Auto Loan?
Before loan release, the following are fees that you have to prepare for:
● Chattel Mortgage Fees (CMF) – actual fee is computed
versus your loan amount. This is approximately 2-3% of
your loan amount.
● Motor Insurance Premium – this is also computed in
consideration of your vehicle type and purchase price.
● Comprehensive Third Party Liability (TPL) Insurance -
approximately P700 for one year.
MAINTAINING MY AUTO LOAN
How can I pay for my monthly amortization?
Payment for your loan will be settled in equal monthly installments of (1) your principal loan amount and (2) the interest incurred. This will be spread across your loan term.
You may pay for your monthly amortization via the following:
● Automatic Debit Arrangement (ADA) – your monthly
amortization will automatically be deducted from your
enrolled BDO Account every due date.
● Post-Dated Checks (PDC) – you will issue PDCs payable
to Banco De Oro Unibank, Inc. to cover your monthly
amortization.
If you are living abroad, you may want to consider these options:
● Pay via Remittance to your BDO Account:
◾ Visit any BDO Remit Office or accredited
remittance partner abroad.
◾ Fill out the form and request crediting of
remittance to the BDO Account assigned under
ADA
and indicate the following details:
◾ Account Name
◾ BDO Account Number
◾ Monthly Amortization is deducted from the BDO
Account every due date.
● Pay via Telegraphic Transfer thru SWIFT Code:
◾ Go to any BDO’s Correspondent Banks in the
country where you are in
◾ Fill out the form and indicate the necessary
information
◾ If credited to BDO Deposit Account
◾ Beneficiary Bank (use SWIFT
Code BNORPHMM)
◾ Beneficiary Name (should be the
account name of the client)
◾ Beneficiary’s BDO Deposit
Account Number
◾ Amount of Payment
◾ Purpose of Remittance, specify
Payment for Auto Loan
◾ If Direct Payment via PN No.:
◾ Beneficiary Bank (use SWIFT
Code BNORPHMM)
◾ Beneficiary Name (should be the
account name of the client)
◾ Promissory Note Number (PN No.)
◾ Amount of Payment
◾ Purpose of Remittance, specify
Payment for Auto Loan
Is a motor insurance required?
Yes. A motor insurance coverage that includes Acts of God / Acts of Nature is a post-approval requirement of your loan, and is needed before your vehicle can be released to you. Having this ensures that you are covered for any untoward incidences that might happen. The insurance is renewed annually until the end of your loan term.
How do I access my Auto Loan details online?
BDO’s Online Banking facility will enable you to access your BDO Auto Loan details online. You should have a BDO deposit account or Credit Card to enroll. To set up an account in BDO Online Banking:
- Enroll at www.bdo.com.ph. Click here to access the BDO Online Banking Facility.
- Activate via any BDO ATM
- Add your Auto Loan account under Enrollment Services..
Once your account is set-up, you may view your Account and Transaction Details, such as Account Number, Interest Rate, Monthly Amortization, Outstanding Balance, etc.
There is also a Services menu where you can update your contact information, request for copies of your loan documents, and others.
OTHER AUTO LOAN CONCERNS
How will I get a copy of my Loan Documents?
Your loan documents, as well as other notices in relation to your BDO Auto Loan will be sent to you electronically via email and/or SMS to the contact details that you provided during your application.
Please ensure to keep your contact information updated.
To update your contact details:
Step 1: Go to www.bdo.com.ph/loans and select Loan Services, or click here
Step 2: Choose your existing loan product and click Update Contact Information
Step 3: Fill in all mandatory contact information and click Submit.
What happens at the end of my loan term, when I finish paying my monthly amortization?
At the end of your loan term, and after paying your monthly dues, you will be notified on the availability of your collateral documents. You can already prepare the requirements and set an appointment to claim the collateral documents. To set an appointment:
● Go to www.bdo.com.ph/loans and select Loan Services,
or click here
● Secure the list of requirements for collateral release:
● For Individual / Single Borrower loans, click here
● For Corporate loans, click here
● Set a schedule from the Loan Services page.
Click here to check latest car models and compare them
Click here to check pre-owned car models and compare them
Awesome Wheels. Awesome Deals
The BDO Deals on Wheels Online edition lets you choose the car that you need at the comfort of your home. Plus, enjoy the following offers with your BDO Auto loan:
- Low Rates
- Waived Fees up to P30,000
- Free 1st Year Motor Insurance
- P10,000 Preventive Maintenance Services (PMS) Voucher from Participating Dealers
Apply Online now until November 30, 2020. Offer is also available at any BDO branch.
Let's Start
Vehicle prices may change without prior notice.
Promo period: October 15 to November 30, 2020. Per DTI-FTEB-SPD Permit No.105979 Series of 2020.
BDO Unibank, Inc. is regulated by the Bangko Sentral ng Pilipinas tel no. (02)8708-7087; email address consumeraffairs@bsp.gov.phh
Click here.
