Ford Philippines has announced a new partnership with the Bank of the Philippine Islands (BPI). The new alliance is a major step for both parties, as each will benefit from the other in several key ways.
As part of the partnership, BPI will offer prospective Ford customers exclusive discounts of up to P239,000. BPI is also extending three of its flexible payment plans to Ford vehicles. These plans include the Step Up Pay Plan, Multiyear Protect, and a zero cash-out program with deposit holdout.
For the Step Up Pay Plan, customers will be able to avail of the Ford Everest with a 20% down payment and a P130,000 discount. In a sample computation, Ford and BPI presented a monthly amortization that starts at a low P28,362 for the first year, while steadily increasing to P35,373 for the fifth and final year.
With the Multiyear Protect plan, the Ford Territory is available with a 20% down payment and P30,000 discount. The sample computation pegs the monthly amortization at P25,113 for 60 months. What's great about this plan is insurance is included for the entire loan period. Owners won't have to worry about additional insurance costs, as they would only have to pay BPI each month.
The last announced plan is a zero cash-out program with a holdout deposit. With this payment plan, customers can take the Ford Ranger home with no down payment, plus an exclusive P129,000 discount. In the sample computation, customers will have to pay P22,569 monthly for five years. In lieu of the down payment, BPI will hold 20% of the Ranger's retail price for two years. Ford and BPI are also offering a free chattel mortgage fee and one year of free comprehensive insurance.
BPI says its new programs will be available through three avenues. The first is online through BPI's website. The second is at BPI branches nationwide, while the third is through Ford dealerships around the country. Interested customers are encouraged to connect with Ford or BPI to know more about its latest discounts and payment plans.
With this latest partnership, both Ford and BPI stand to benefit from each other's strengths. Ford will be able to take advantage of BPI's massive 8 million customer base and expansive branch network. Meanwhile, BPI can enjoy partnering with one of the most trusted brands in the local automotive industry.