The local automotive industry may be experiencing a slight slowdown due to rising inflation rates and retail prices. Yet financial institutions like BPI Family Savings Bank are confident that business will go on as usual. And then some. This, thanks to an increase in auto loan applictions over the past few months.
According the BFSB, auto loan applications and bookings have seen a 12 percent rise over the past few months. This is due to lower interest rates as well as its aggressive Auto Loan All Out promo. The offer allows loan applicants to avail of a certainrate, which will remain throughout the loan period, regardless of rate fluctuations.
The Auto Loan All Out promo is designed to make car buyers feel more secure about taking out a loan for their dream ride. With market forces changing every now and then, this will ensure that they will be able to pay off the loan without breaking their bank account, so to speak.
While the promo began earlier this year, BFSB is pushing it via events like the ongoing 7th Philippine International Show that runs from October 24-28, 2018 at the World Trade Center in Pasay City. Here, potential car buyers will not only be able to avail of auto financing but will likewise get a chance to check out deals like the All Out offer.
With loan apporvals taking as quick as 1 day, new and existing clients can avail of the All Out promo until October 31, 2018 only. Their loan amount must be between P500,000 tp P5,000,000 and run for a five-year or 60-month term. All applications must be approved before December 31, 2018.