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Own your dream car fast and easy – whether it’s brand new or pre-owned. Enjoy affordable downpayment, competitive interest rates, easy on the pocket amortization with multiple financing terms to choose from and convenient payment options.
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WHY APPLY FOR AN EASTWEST AUTO LOAN
Features and Benefits
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What You Need To Know
| Minimum Loan Amount | Php 200,000 |
| Maximum Amount Financed* | 80% of the selling price |
| Minimum Downpayment Requirement* | 20% |
| Minimum Term | 12 months |
| Maximum Term* | 60 months |
*Depending on vehicle variant. Contact us for further details.
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HOW TO APPLY FOR AN AUTO LOAN
How to Apply Step 1
Choose a car to purchase
How to Apply Step 2
Fill out and submit application form
How to Apply Step 3
Wait for our confirmation and we'll take care of everything
Application Requirements
ELIGIBILITY
Individual
- Between 21 years old and 70 years old at the time of loan maturity
- Filipino citizen, foreigner residing in the Philippines for at least 1 year, or foreigner with a Filipino co-maker
- Salaried or self-employed
- For locally employed, must have regular or permanent status upon application
- Gross monthly income of not less than PHP40,000
Corporate
- Registered business entity that has been profitably operating for at least 3 years
- Gross monthly income of not less than PHP200,000
DOCUMENTARY REQUIREMENTS
Individual
- Completely filled-out Application Form
- Two (2) valid government-issued IDs
- Income Tax Return
- Certificate of Employment if employed
- If engaged in Business:
- Business Registration Certificate
- Business Permit
- Financial Statement (for the last 3 years)
- Bank Reference/Statements
- Proof of other Income Sources
- Identification Papers e.g. Driver's License, SSS/GSIS cards, Company ID, Passport, etc
- For OFW applicant:
- Complete Name:
- Complete Residential Address:
- Contact Number:
- At least one (1) government-issued valid ID
- For OFW Direct Hire:
- COEC w/ original 6-month remittances, or;
- COEC w/ original 6-month payslip, or;
- Consularized Certificate of Employment w/ Compensation (COEC)
Corporate
- Completely filled-out Application Form
- Financial Statements for the last 3 years (both Audited and In-House)
- Income Tax Return
- Articles of Incorporation
- By-laws
- List of Major stockholders, addresses and ownership
- List of principal officers, positions, and addresses
- List of Beneficial Owners and Attestation of Beneficial Ownership Declaration
- Company Profile
- Business write-up
- Trade References - at least 3 major suppliers and 3 major clients
- Bank References (Deposit Accounts; Credit Lines and existing/paid loans)
Collateral Documents
- Notarized Promissory Note with Chattel Mortgage
- Comprehensive Insurance Policy with proof of premium payment
- For Brand New Vehicles
- Encumbered LTO Official Receipt and Certificate of Registration or Letter of Undertaking to Submit LTO OR/CR within 30 days
- Delivery Receipt
- Sales Invoice / Sales Parts Invoice
- Stencil on LTO Form
- Certified true copy of Official Receipt of down payment and Chattel Fee proof of payment
- For Used Vehicles
- Encumbered LTO Official Receipt and Certificate of Registration under Borrower’s Name
- Deed of Sale
- Car history check from LTO to confirm ownership
- Unit appraisal / Inspection report
- Stencil on LTO Form
- Appraisal Report
- Notarized Deed of Sale
- Original Cancellation of Mortgage and Registered copy of PNCM (for refinancing with encumbrance)
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