LOANS
Auto Loan
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.
Why Apply for EastWest Auto Loan?
Affordable Downpayment
Easy on the pocket amortization with multiple financing terms to choose from.
Convenient payment options.
What you need to know?
Minimum Loan Amount
₱ 200,000
Maximum Amount Financed
80% of the selling price
Minimum Downpayment Req.
20%
Minimum Term
12 Months
Maximum Term
60 Months
*Depending on the vehicle Variant. Contact us for further details.
Auto Loan Rates
| Type | Interest Payment | 12 Months | 19 Months | 24 Months | 36 Months | 48 Months | 60 Months |
|---|---|---|---|---|---|---|---|
| Brand New | In Advance | 5.10% | 7.94% | 10.84% | 16.79% | 22.94% | 29.27% |
| In Arrears | 6.60% | 8.93% | 11.86% | 17.86% | 24.07% | 30.46% | |
| Second Hand | In Advance | 6.04% | 10.16% | 14.93% | 24.07% | 34.24% | |
| In Arrears | 7.19% | 11.45% | 16.37% | 25.68% | 36.03% |
How to apply for an Auto Loan?
Choose a car to purchase
Fill out and submit application form
Wait for our confirmation and we'll take care of everything
Auto Loan Calculator
Plan your car purchase confidently! Calculate your monthly payments hassle-free with our auto loan calculator.
- 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
- Completely filled out EastWest Bank Auto Loan Application Form
- Government-issued IDs (at least two)
- Income documents such as ITR, Certificate of Employment (COE), Audited Financial Statements (for self-employed and business entities)
- Spouse as co-maker (for married applicants)
- Comprehensive insurance policy with Acts of God (AOG) coverage from an EWB-accredited insurance company
- Certificate of employment or latest 3 months payslips (for employed)
- DTI Registration or Municipal Permit (if self-employed), SEC registration for business entities
- Articles of Incorporation or Articles of Partnership and latest 3 years Financial Statements for corporations or partnerships
- Trade references (for self-employed individuals, corporations or partnerships)
- Downpayment
- Chattel Mortgage Fees
- Insurance Policy
- LTO Registration Fees
- Out-of-Town fees (as applicable)
- Motor vehicle inspection and appraisal
- Car history verification
Frequently Asked Questions
This is a loan facility that is used to pay for the acquisition of a brand new or second-hand vehicle. We also offer Auto Equity Loans which is a cash loan secured by the borrower’s owned car.
The EastWest Bank Auto Loan facility brings with it:
Features and Benefits
- Wide acceptability of vehicles
- Easy-on-the-pocket amortization
- Flexible payment terms of 12 months to 60 months (depending on the vehicle’s year model)
Advantages
- Simpler and faster loan processing
- Affordable downpayment
- Convenient payment options
- Automatic Debit Arrangement (ADA) against an EastWest Bank deposit account or
- Issuance of Post-Dated Checks (PDC)
Individuals
- Locally employed individuals, OFWs, and self-employed individuals/professionals/entrepreneurs
- Between 21-70yo (at the time of maturity of loan)
- Gross monthly income of not less than P40,000.00
Companies
- Registered business entities that have been profitably operating for at least three (3) years
The requirements include, but are not limited to, the following:
- Completely filled out EastWest Bank Auto Loan Application Form
- Government-issued IDs (at least two)
- Income documents such as ITR, Certificate of Employment (COE), Audited Financial Statements (for self-employed and business entities)
A decision on your application may be made within a day subject to submission of your complete information and supporting documents.
The requirements include, but are not limited to, the following:
- Spouse as co-maker (for married applicants)
- Comprehensive insurance policy with Acts of God (AOG) coverage from an EWB-accredited insurance company
- Certificate of employment or latest 3 months payslips (for employed)
- DTI Registration or Municipal Permit (if self-employed), SEC registration for business entities
- Articles of Incorporation or Articles of Partnership and latest 3 years Financial Statements for corporations or partnerships
- Trade references (for self-employed individuals, corporations or partnerships)
Fees include, but are not limited to:
- Downpayment
- Chattel Mortgage Fees
- Insurance Policy
- LTO Registration Fees
- Out-of-Town fees (as applicable)
Additional requirements include, but are not limited to, the following:
- Motor vehicle inspection and appraisal
- Car history verification
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