Maybank Auto Loan Downpayment — A Guide on How Much You Must Prepare

Details about the Maybank Auto Loan Downpayment for Application

MAYBANK AUTO LOAN DOWNPAYMENT – Here is a guide on how much you must prepare under the car loan offer of Maybank Philippines.

Nowadays, more and more people are realizing the value of having a car of your own. That is why even if it is a huge purchase to be getting a car, what a lot of individuals are focusing to is seeing the benefits and convenience that having a car can bring. Meanwhile, there are entities that can help you with regards to the payment of your car.

Maybank Auto Loan Downpayment

You don’t have to purchase a car under a one-time cash payment. Truth be told that most people are not ready for it and even those who have big savings in the bank prefer not to when there are other options. They can use their money somewhere where it can grow and help pay for their car purchase. You might like to consider loan offers which include the Auto Loan offer of Maybank.

Photo Credit: FinTech Futures

Maybank is in the service of the Filipino people for several years already. It offers bank accounts, loans, and investment services among others. With regards to its Auto Loan offer, it is open to finance the purchase of both brand new and pre-owned vehicles.

In fact, the loan offer is also open to finance the acquisition of a truck even if it will be for a business use. You may also apply for the loan to obtain funds using the value of your car and your vehicle as the collateral. In the car purchase financing, you just have to prepare some amounts for the Maybank Auto Loan downpayment.

With regards to the Maybank Auto Loan downpayment for the loan application, it varies if you will be acquiring brand new car or a second-hand car. The loan terms may also vary.

Here’s a guide on the Maybank Auto Loan downpament:

  • For brand new cars — at least 20% of the selling price of the vehicle
  • For pre-owned or secondhand cars — at least 30% downpayment

With regards to the loan term, for brand new cars, the loan is payable for to 60 monthly amortizations or within five (5) years. For second-hand vehicles, you may choose to repay the loan for any term allowed with 48 months or four (4) years.

In case the vehicle to be acquired is a second-hand car, the age of the vehicle must not go beyond 10 years. Are you interested to apply for the loan offer? There is an easy process on how to apply for the Maybank Auto Loan offer and a short list of requirements for application.

Leave a Comment