OFW Buyers Guide

As an overseas worker there are different requirements when purchasing a car. All your questions can be answered here by downloading our OFW guide, by reading articles, FAQs and by using our car loan calculator.

Do I need to make a downpayment?

It depends with the car dealer and bank. There are financing offers that are available with a 15% to 50% downpayment scheme, while some promos can be availed with a 0% downpayment.

Can interest rates be negotiated?

Yes, you can negotiate interest rates especially if you are a loyal customer to the bank.

Will my car loan application be rejected?

Loan application is subject to approval by the lender. Bad credit history and incomplete requirements can lead to the rejection of your loan.

What are the modes of payment if I'm outside the country?

You can either pay through over-the-counter payments or through auto-debit programs of banks. Another way is through Post-Dated Checks (PDCs). Other payment methods such as online payment is also available through some banks.

Can AutoDeal help me with my car loan application?

You can use AutoDeal’s Car Loan calculator and application form to start processing your car loan. However, after submitting your car loan application form, the approval will depend on the lender to which AutoDeal does not have any influence to.

Can I apply for several loans?

Can I apply for several loans?

What can increase my chances of getting an approval?

Make sure that you meet all the car loan requirements. Settle all your existing loans/debts if possible. The less debts and liabilities that you have, the higher the chance of your car loan getting approved.

Can I increase the downpayment for lower monthly payment?

Can I increase the downpayment for lower monthly payment?

Is there a shorter loan term?

Yes, you can get a car loan with one-year term but that depends on the lender if they will accommodate short loan terms.

Do I need to process the LTO registration?

Many dealership offer free LTO registration upon purchase especially on their all-in downpayment promos.

What are considered as valid IDs?

What are considered as valid IDs?

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