Eligibility: All Regular and Associate members of AFPSLAI who have complied with the requirements of the Pre-Owned Vehicle Loan and who have sufficient CCA/SD002 balance which they can offer as guarantee for the loan.
Covers the purchase of pre-owned vehicles (sedans, SUV, AUV, Vans LCV, high-end motorcycles and other vehicles similarly classified) from either an accredited dealer or individual seller.
Minimum loanable amount: ₱200,000
Maximum Loanable amount shall be equivalent to the lowest of these three (subject to ceiling of ₱1.2M):
70% of appraised value of the collateral; or
the amount applicable to the borrower’s paying capacity
Loan term: 12 to 60 months.
Maximum term shall be regulated based on the age of the vehicle being financed such that the subject vehicle must not be more than 10 years old upon the target maturity.
Requirements (click to view the documentary requirements)
MAIN REQUIREMENTS :
Filled-up Loan Application Form and Promissory Note
One (1) 1x1 latest ID picture
Service ID/Pensioner ID and AFPSLAI ID
Marriage Contract (if married)
Photocopy of seller’s valid ID (for individual seller)
OR/CR of subject vehicle
Official Receipt of 30% equity payment to dealer (after loan approval, prior to release)
OTHER DOCUMENTS, if applicable :
LTO Stencil of the unit (if through CCA)
CCA/SDA Passbook and Deed of Assignment/Authority to Deduct from CCA/SDA (for payment through Auto Debit from CCA/SDA)
Two (2) latest original or printed online payslip and ITR for the past 2 years / Pension Certification (for payment through Salary/Pension Deduction)
Three (3) months’ payslip, COE and ITR for the past two (2) years (for payment through PDCs for employed Associate Member)
ADDITIONAL DOCUMENTS AS REQUIRED BY EACH BOS/PAYJUR (for payment through Salary/Pension Deduction) :
Pension ATM card (optional)
Retirement Order and/or Declaration of Legal Beneficiary
PN, PA, PCG, GHQ Active (to include PMA, PSG, VLUNA)
Appointment Order/Re-enlistment Order/ETAD/Re-appointment Order
Any 1 clearance (Unit, JAGO, or Certification of Status or its equivalent)
Willingness to Re-enlist
Provost Marshal Clearance or IG Clearance
Spouse Consent (if married)/Certificate of Singleness (if single)
Certificate of Non-pending Case
Certificate of Non-pending Case
Two (2) government-issued ID (photocopy), affix three (3) signatures (in the absence of Service/Pensioner ID)
NOTE: Other AFPSLAI requirements will be provided/processed by the Branch (such as LOG, Chattel Mortgage, Encumbrance of OR/CR, CRI, Comprehensive Insurance, Appraisal, etc.) and associated fees to be shouldered by the member-borrower, if any.
To know your monthly amortization:
Enter the selling price of the vehicle.
Enter you desired down-payment (minimum of 30% of selling price).
Select the number of years you want to amortize your loan.
Click “COMPUTE” to know your monthly amortization or “RESET” to clear entries.
Please note that the computation above is only indicative. You may call us or visit any AFPSLAI Branch nearest you for the actual details.
For inquiries and feedback, you may contact our Consumer Assistance Group at (02) 8911-8364
or call any of our branch offices or send an e-mail to firstname.lastname@example.org
AFPSLAI is regulated by the Bangko Sentral ng Pilipinas | email@example.com