Requirements: - Original OR/CR (to be submitted when the loan is released) - TIN & CTC (Community Tax Certificate or cedula) - Proof of income (Mayor’s Permit and Bank Statement, if with business OR Certificate of Employment and Payslips, if employed) - Basic documentary requirements
Processing time: 1 – 3 days (for Metro Manila LTO registration; longer if provincial LTO)
Collateral: The original OR/CR and Post-dated checks
Monthly Interest Rate: 2.5% for vehicles 6 years or older 2% for vehicles 5 years or younger 2.5% for surplus vehicles, regardless of terms
Loanable Amount:P30k to P1M, based on appraised car value