Question on BPI Auto Loans

**archielew** · May 3rd, 2013 10:38 PM

Hi All!

I recently discovered BPI's promo today, that is their FREE Insurance with Acts of Nature for a Brand New Car Financing. I really wanted to grab this offer, but I have a dilemma in mind - BPI's policy that borrowers should at least be 2 years employed under his/her current employer.

Now I'm a permanent employee of an IT services company for 7 months already. Prior being in this company, I worked as a consultant to BPI for 3 years, and a regular employee for 1 year at another IT services company. So in short, this is my third employer, but I have been employed without fail for the past 4years+months. (Natural lang sa mga IT people na magpalipat lipat ng company because employers tend to pirate them by offering HIGHER salary package just to get work force).

My question is, mahihirapan ba ko ma-approve sa BPI just because 7 months pa lang ako sa current employer ko? I'm not sure with BPI because I haven't tried it yet. However, na-approve naman ako ng autoloan sa dalawang magkaibang Banks. (PS and Eastwest)

Is there anyone from BPI here in tsikot who could somehow assist me in this matter?

Thanks!

**boytsiks** · May 4th, 2013 12:46 AM

Originally Posted by archielew

Hi All!

I recently discovered BPI's promo today, that is their FREE Insurance with Acts of Nature for a Brand New Car Financing. I really wanted to grab this offer, but I have a dilemma in mind - BPI's policy that borrowers should at least be 2 years employed under his/her current employer.

Now I'm a permanent employee of an IT services company for 7 months already. Prior being in this company, I worked as a consultant to BPI for 3 years, and a regular employee for 1 year at another IT services company. So in short, this is my third employer, but I have been employed without fail for the past 4years+months. (Natural lang sa mga IT people na magpalipat lipat ng company because employers tend to pirate them by offering HIGHER salary package just to get work force).

My question is, mahihirapan ba ko ma-approve sa BPI just because 7 months pa lang ako sa current employer ko? I'm not sure with BPI because I haven't tried it yet. However, na-approve naman ako ng autoloan sa dalawang magkaibang Banks. (PS and Eastwest)

Is there anyone from BPI here in tsikot who could somehow assist me in this matter?

Thanks!

Three months pa lang ako sa current employer ko nung nag-apply ako ng car loan sa BPI. I was approved the very same day. IMO, as long as meron ka nung documents na hihingin nila (I think case by case yung documents na hinihingi nila,eh), maapprove ka kagad. Good luck bro

**Noel Salisipan** · May 4th, 2013 06:13 AM

Originally Posted by archielew

Hi All!

I recently discovered BPI's promo today, that is their FREE Insurance with Acts of Nature for a Brand New Car Financing. I really wanted to grab this offer, but I have a dilemma in mind - BPI's policy that borrowers should at least be 2 years employed under his/her current employer.

Now I'm a permanent employee of an IT services company for 7 months already. Prior being in this company, I worked as a consultant to BPI for 3 years, and a regular employee for 1 year at another IT services company. So in short, this is my third employer, but I have been employed without fail for the past 4years+months. (Natural lang sa mga IT people na magpalipat lipat ng company because employers tend to pirate them by offering HIGHER salary package just to get work force).

My question is, mahihirapan ba ko ma-approve sa BPI just because 7 months pa lang ako sa current employer ko? I'm not sure with BPI because I haven't tried it yet. However, na-approve naman ako ng autoloan sa dalawang magkaibang Banks. (PS and Eastwest)

Is there anyone from BPI here in tsikot who could somehow assist me in this matter?

Thanks!

3yrs term ng loan ang requirement nila para maka-avail ka sa first year free insurance, less than that wala pa ring free insurance.

Yung tungkol sa approval, dipende yan sa salary o financial statement mo.

Goodluck!

**archielew** · May 4th, 2013 09:54 AM

Thanks boytsiks, ginanahan ako dun ah! Punta ko agad sa bpi sa monday! Hahaha
Noel, thanks sa advise, ok lang 5 years ko naman ifinance e, complete naman requirements ko.

Ang tanong na lang ngayon, reasonable naman ba ang pricing nila n insurance, and ok naman ba sila pagdating sa claims? Nakalagay kasi sa terms ng promo, free yung 1 year, pero auto renew ka sa kanila ng insurance. Meaning, sa kanila lang talaga ang insurance mo for the whole financing term.

**archielew** · May 7th, 2013 05:32 PM

Originally Posted by boytsiks

Three months pa lang ako sa current employer ko nung nag-apply ako ng car loan sa BPI. I was approved the very same day. IMO, as long as meron ka nung documents na hihingin nila (I think case by case yung documents na hinihingi nila,eh), maapprove ka kagad. Good luck bro

pag ba denied yung loan application tatawagan ka din para sabihin sayo? saka yung reason?

**1D4LV** · May 7th, 2013 05:43 PM

on the approval, it all boils down to the account/credit officer handling your application.

**_Qwerty_** · May 7th, 2013 05:45 PM

tatawagan ka to tell you na denied... pero hindi sasabihin yung reason.

Originally Posted by archielew

pag ba denied yung loan application tatawagan ka din para sabihin sayo? saka yung reason?

**archielew** · May 7th, 2013 05:54 PM

Originally Posted by 1D4LV

on the approval, it all boils down to the account/credit officer handling your application.

sir pa-elaborate naman po kung pwede pa. hehe. thanks po/

Originally Posted by _Qwerty_

tatawagan ka to tell you na denied... pero hindi sasabihin yung reason.

Ganun pala. Iniisip ko kasi sakaling madeny, pwede pa kaya pa reconsider, like pasa more supporting docs, etc. Anyway, di pa naman ako denied, kaka-apply ko lang kahapon e. Hintay hintay na lang muna.

thanks

**1D4LV** · May 7th, 2013 06:17 PM

ganito yan....

you are a permanent employee, and you are earning let's say 80k/month, which makes you a capable payer, with no risk of having to be out of job because of your tenure as a permanent employee. then what would be the reason or factor why they need someone who is more than 3 years in the job?

the automobile loan market these days are very competitive. i am sure that the account officer has his/her own quota to fill. if he/she losses you as an account, it will be their loss and the gain of other competitors.

**fourtheboys96** · May 7th, 2013 06:25 PM

OT.

Just curios. How good is BPI's Insurance Policy system to make it some sort of a deal breaker for you? Will it save you lots of money or are they easy to deal with in case of insurance claims?