What do I need to know about the BDO Car Loan?
In today’s world, owning a car has shifted from being a luxury to an absolute necessity for our comfort and overall quality of life. However, acquiring your own vehicle isn’t always a straightforward process. Recognizing this reality, BDO has designed a vehicle loan that allows you to realize your dream without adding unnecessary financial burdens. This loan is versatile, enabling you to finance any vehicle, whether it’s from a new or used car dealership, and from any automaker based on your preference and availability.
BDO stands by your side, offering personalized assistance to guide you through the best contracting methods without imposing exorbitant interest rates. The goal is to ensure that pursuing your dream of owning a car doesn’t turn into a financial nightmare. We recommend this solution so that your dream of having your own car can be realized without any future regrets or challenges.
Am I eligible to apply for the BDO Car loan?
To be eligible to apply for the BDO Car Loan you must:
✅ Have between 21 and 70 years old at the end of the contract
✅ Be a Filipino citizen or a foreigner living in the Philippines
✅ Have a fixed annual gross income requirement of P50,000
✅ Stable source of income from work or business
By fulfilling these requirements, you can apply on the BDO vehicle loan application form.
What is the required documentation to apply for the BDO car loan?
✅ The application form must be completed in full
✅ Photocopy of one (1) valid ID that matches the application details (e.g. Driving License, Passport
✅ Tax Identification Number (TIN), Social Security System ID (SSS),
Government Service and Insurance (GSIS) eCard)
✅ For foreigners, Foreigner Registration Certificate with Work Card
✅ Send the income document that matches your employment status
Where to apply for the BDO Car Loan?
Engage in a hassle-free procurement journey by opting for the method that suits you best—whether online through the BDO website, internet banking, or in person at BDO units. Simply complete the request form, submit the required supporting documents, and, if needed, the bank may request additional documentation to ensure a smooth and personalized experience. Rest assured, BDO is committed to simplifying the process, making it accessible and convenient for you, whether you prefer the ease of online transactions or the personalized touch of in-person assistance at BDO units. Your journey toward your financial goals is just a few steps away!
Where can I receive and how can I pay installments?
Upon approval of the loan contract, the amounts will be deposited into a personal account created by BDO, if you do not already have an account. Payment of installments can be done by automatic deposit into the same account, or deposit over the counter at any BDO unit.
Your new car is closer than you expected, isn’t it? Don’t waste time, apply for your loan now!