Auto Loans

What is the security collateral for auto loans?

• OR CR

• OR only

• CR only

TRUE or FALSE. The branch auto loan is always under a 2-party type of transaction.

• True

• False

Based on standards, what is the lowest age to be considered when applying for auto loan?

• 20

• 21

• 22

• 23

If your answer in number 2 is the lowest age to be considered when applying for auto loan, then what is the highest upon maturity?

• 50

• 55

• 60

• 65

What is the minimum loan amount that can be considered?

• P50,000

• P100,000

• P150,000

• P200,000

What is the minimum term for a ROPA financing transaction?

• 6 months

• 12 months

• 24 months

• 48 months

What is the minimum down payment in % for a ROPA financing transaction?

• 10%

• 15%

• 20%

• 25%

The following are common requirements to process an auto loan, except:

• Payment of fees / charges / dp

• Borrower's Certificate

• Birth Certificate

• PO ATD/ Credit Advice

The following are specific requirements to process self-employed type of client, except:

• ITR 1701

• ITR 2316

• Financial Statement

• DTI Business Name Registration

Business documentation requirements under a Partnership are as follows, except:

• General Information Sheet

• SEC Registration

• Articles of Partnership

• Partnership Resolution