VEHICLE LOANS
Are you planning on purchasing a new or pre-owned vehicle?
CECU offers the most competitive rates in the market to help you
finance your vehicle.
Interest Rates
New Vehicle: 4.5% per annum (0.38% per month)*
Pre-owned Vehicle: 5.5% per annum (0.46% per month)*
*Interest rates are calculated on the reducing balance and are subject to change without notice
Maximum Repayment Period
New Vehicle: 8 years
Pre-owned Vehicle: 6 years (subject to the age of the vehicle)
Loan Requirements
- Two valid forms of ID
- Utility bill or bank statement (no older than 3 months)
- Proof of employment and income (job letter no older than 3 months and payslip, no older than 1 month)
1NEW VEHICLE
New Vehicle
- 10% downpayment on shares
- Proforma invoice from the car dealership
- Insurance quote –Fully Comprehensive (insurance must be assigned to CECU)
- BIR#
2RORO VEHICLE
RORO Vehicle
- 25% downpayment on shares
- Valuation report, no older than one (1) month
- Proforma invoice
- Insurance quotation (insurance must be assigned to CECU)
- Vehicle must not be older than 4 years
3LOCAL USED VEHICLE
Local Used Vehicle
- 20% downpayment on shares
- Sale agreement and certified copy
- Proforma invoice
- Valuation report, no older than one (1) month
- Insurance quotation (insurance must be assigned to CECU)
- Vehicle must not be older than 4 years
Start your application process online
Complete and submit your application form online and a loans officer will contact you.
Vehicle Loan Calculator
Use our Vehicle Loan Calculator to find out how much you are eligible to borrow, your repayment period and your monthly instalment.
