Zero Cash Out

Drive your own car with a cash-out that is easy on the pocket by using your deposit savings as a holdout to serve as the downpayment

Benefits

Up to 100% of net selling price

Offer mechanics

You can now own your dream car without shelling out a huge amount of money and can keep it in your deposit account.

Below is a sample comparison between Regular BPI Auto Loan vs Zero Cash Out:

SRP: Php 1,250,000

1. Zero Cash Out is available to individual applicants who want to avail a brand new passenger car.

2. The maximum loan term is 5 years.

3. The minimum loan amount is Php 500,000.

4. The bank will hold 20% of the vehicle's selling price from the client's deposit account and will serve as the downpayment.

5. Account of the client must be either Savings Account, Current Account or Time Deposits.

1. Go to any BPI branch.

2. Completely fill out the application form.

3. Submit the requirements. Your application will be reviewed and processed.

4. If your application is approved, you will receive an SMS notification and will be asked to visit the branch or a Loans Business Center.

5. Sign the loan documents.

Online

2. Submit the requirements. Your application will be reviewed and processed.

3. If your application is approved, you will receive an SMS notification and will be asked to visit the branch or a Loans Business Center.

4. Sign the loan documents.

Regular Auto Loan vs. Zero Cash Out

Specifics	Regular Auto Loan	Zero Cash Out
Amount of monthly Payment/ Amortization	Fixed equal monthly payments for the duration of the loan term. No annual price increase	Fixed equal monthly payments. Amount financed is equal to the vehicle's net selling price
Product Benefit	Budget your monthly expenses ahead of time and set aside the same fixed amount from start to end of your loan term	No initial cash out on downpayment. The amount will instead be held in your account and continue to grow interest
Type of Vehicle to Purchase	Brand New or Pre-Owned Passenger Vehicle Can be used to purchase Big Bikes or Trucks	Brand New Passenger Vehicle
Term of Duration of Loan	Can opt for short or long term such as 1,2,3,4 or 5 years	5 years
Motor Insurance	Outright Payment before loan availment. Insurance premium for succeeding years are paid in lump sum every year	Outright Payment before loan availment. Insurance premium for succeeding years are paid in lump sum every year
Initial Cash Out	Standard cash-out for Insurance Premium and Chattel Mortgage	Zero cash out on downpayment
Price	Same as published interest rate