BDO
Personal loans from BDO up to ₱1,000,000
₱10K – ₱1.0M
Interest from 25.58%
Approval: 5-7 banking days
Car Loan
Comparing 7 offers. Updated April 27, 2026.
Best offers – Car Loan 2026
BPI
BPI personal loans up to ₱2,000,000 with flexible terms
₱10K – ₱2.0M
Interest from 25.60%
Approval: 3-5 banking days
Maybank
Maybank personal loans up to ₱1,000,000
₱10K – ₱1.0M
Interest from 1.30%
Approval: 5-7 banking days
EastWest Bank
EastWest Bank personal loans up to ₱2,000,000
₱25K – ₱2.0M
Interest from 1.49%
Approval: 3-5 banking days
Security Bank
Security Bank personal loans up to ₱2,000,000
₱25K – ₱2.0M
Interest from 29.48%
Approval: 3-5 banking days
Metrobank
Metrobank loans up to ₱10,000,000 for big financial needs
₱500K – ₱10.0M
Interest from 5.90%
Approval: 5-7 banking days
UnionBank Car Loan
UnionBank car loans up to ₱5,000,000 with competitive rates
₱50K – ₱5.0M
Interest from 5.00%
Approval: 3-5 banking days
Car Loans in the Philippines
A car loan allows you to purchase a brand-new or second-hand vehicle by spreading the cost over monthly installments. In the Philippines, car loans are offered by major banks such as BDO, BPI, Metrobank, and UnionBank, as well as by financing arms of car manufacturers. Loan terms typically range from 12 to 84 months, and down payments usually start at 20% of the vehicle's price.
When applying for a car loan in the Philippines, you will need a valid government-issued ID, proof of income (payslip or ITR for the last 2 years), proof of billing, and the quotation or purchase agreement from the dealership. The vehicle itself serves as collateral, which generally allows for lower interest rates compared to unsecured personal loans.
When comparing car loans, pay close attention to the add-on interest rate vs. effective interest rate, processing fees, early settlement penalties, and the flexibility of repayment terms. Using CoolFinance.ph, you can compare all available car loan offers side by side and find the best deal for your budget.