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Vehicle Loan


  • Open to all AFPSLAI Regular and Associate Members who are at least 21 years old, with the condition that their age upon loan maturity does not exceed the maximum age covered by the Credit Redemption Insurance (CRI).
  • Regardless of age, members can qualify if they have sufficient funds in their deposit accounts that can be assigned as collateral for the loan, covering the entirety of their total amount due.
  • Must be gainfully employed or have regular compensation income.
  • Loanable amount is up to 70% of the selling price of the vehicle, subject to the borrower’s paying capacity. For motorcycles, maximum loanable amount is capped at Php 2 million.
  • At least 30% of the selling price of the vehicle and motorcycle shall be paid by the borrower (as equity) directly to the car dealer.
  • Loanable term:
  • Vehicles 1 to 6 years
    Motorcycles 1 to 5 years

    Note: Only established brand of vehicles are eligible for the 6-year term.

VL Calculator
Vehicle Selling Price
Down Payment
Loan Term

Amount to be Financed is:
Monthly Amortization is


To know your monthly amortization:
  1. Enter the selling price of the vehicle.
  2. Enter you desired down-payment (minimum of 30% of selling price).
  3. Select the number of years you want to amortize your loan.
  4. 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.


  1. Borrower submits LAF and requirements.
  2. If submitted documents comply with all the requirements, Loan Specialist proceeds with the processing of loan.
  3. Loans Specialist coordinates with the car/vehicle dealer.
  4. AFPSLAI conducts credit evaluation (background check and credit investigation) and appraisal.
  5. Loans Specialist computes the Single Borrower’s Limit (SBL) to determine the maximum loanable amount of the borrower.
  6. Upon approval of the loan, Loans Specialist will require to submit loan release requirements.
  7. If all loan release requirements are complied, borrower receives his/her loan proceeds.


Q: Do you offer Car Loan for second hand vehicles?
A: Yes, but we do have a separate loan product for that. AFPSLAI offers Pre-Owned Vehicle Loan where Regular and Associate Members can purchase pre-owned vehicles (sedans, SUV, AUV, Vans LCV, highend motorcycles and other vehicles similarly classified) from either an accredited dealer or individual seller.

Q: Do you accept motorcycles in availing Vehicle Loan?
A: Yes, AFPSLAI is now accepting motorcycles in availing Vehicle Loan starting December 4, 2023

Q: What happens if there are default in payments?
A: Penalty charges shall be imposed on accounts with late or default payments, as well as understated payments, computed at 2% of the unpaid amortization due for the month.