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How Can I Avail BDO Car Loan?

bdo car loan

Get ready to buckle up as BDO has ways to help you get it through online registration orby simply following three easy steps to avail car loan. 

Are you canvassing for your first automobile? Have you thought of becoming financially literate to set your car loan budget? Or you’ve finally decided to get that dream car?

Questions start to wander around as you go along your purchase journey and part of it is knowing whether you’re qualified for a car loan or not. Some people, mostly first-timers, get excited when they take their first step in getting their dream car. Good thing BDO got tools like auto loan calculators and an auto finder that would help narrow down your queries and worries. 

Before we get you started on the steps, it’s best to get yourself educated with loan details. Get to know BDO’s flexible payment terms and affordable cash outs offered that best fits your budget. How? Apply conveniently through BDO’s online registration.

Online registration through a BDO mobile app or the official website can be another option for you to get immediate information and easy access for other products and services you may want to inquire or avail. 

Let’s get you started!

Steps to avail a car loan

You can visit any BDO branches near you or check the list of requirements for a car loan application.

Step 1: Check your qualifications

Ask yourself these questions: 

  1. Am I at least 21 years old but not exceeding 70 years old at the end of the loan term?
  2. Filipino citizen or foreigners residing in the Philippines for at least 2 years?
  3. Do I have a minimum gross family income of P50,000/month?
  4. Do I have a stable source of income from employment or business:
    1. Locally employed at least 2 years with the current company.
    2. Self-employed at least 2 consecutive profitable years of operation.
    3. Employed abroad with 2-3 years employment.

Step 2: Prepare the documents

See the new auto loan checklist requirements here.

  1. Completely fill up the necessary application documents provided.
  2. Provide 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

  1. Income Documents for
  2. Locally employed (any of the following):

• Latest Income Tax Return or BIR Form 2316 or latest payslip

• Certificate of Employment with Salary

• Additional for Foreigners, current employment contract

  1. Self-employed: 

• Photocopy of Audited Financial Statements for the last 2 years with latest ITR

• Bank Statements or Photocopy of Passbook for the last 3 months

• Certificate of Business Registration

  1. Employed abroad (any of the following):

• Proof of  Remittance for the last 3 months

• Latest Crew Contract, if sea based

• Consularized Certificate of Employment with Income (COEI) or latest three (3) months payslips

Step 3: Submit your application forms and requirements

You may submit your application forms and documents through these channels:

    Apply online

    Visit any BDO branch near you (or check other BDO branches

    BDO Auto Loan Provincial Business Centers