What are the physical requirements I need to apply for a car loan?
Locally employed borrowers will have to present and submit the following items listed below:
– Complete Filled up Application form. (Download Here)
– Valid government-issued I.D. with signature and photo such as Driver’s License, Passport, etc. of borrower and co-maker (if available).
– Latest proof of billing.
– Three – Five months-worth of payslips/remittance.
– Previous or Current Employment Contract.
For those who are self-employed or have businesses:
– Certificate of Business Registration with DTI for entities with sole proprietorship or SEC if under partnership/corporation.
– Your Latest ITR.
– The Latest financial statements such as Audited Financial Statements, Statement of Assets and Liabilities, Statement of Income and Expenses, bank statements, and/or photocopy of your passbook for the last three months.
– Latest proof of additional/other income such as lease contracts, certificate of deposits, and/or stock certificates.
If you work abroad, you will need the following documents:
– Complete Filled up Application form. (Download Here)
– Two Valid government-issued I.D. with signature and photo such as Driver’s License, Passport, etc. of borrower and co-maker (if available).
– The latest proof of billing.
– Three – Five months-worth of payslips/remittance.
– Previous or Current Employment Contract.
You can also check our the Application Requirements here.
Apart from these documents, physical assets such as real estate and other owned vehicles can be used as additional proof of capacity to pay thus increasing your chances of getting your bank loan approved.