BPI and Ford Philippines offer flexible auto loans – Manila Bulletin

Bank of the Philippine Islands (BPI) and Ford Philippines are making it easier for customers to own the Ford vehicles of their dreams with flexible auto loans and exclusive discounts.

Under this partnership, customers can benefit from easy-to-own plans for the Ford Ranger, Ford Territory and Ford Everest. Along with the savings from these special plans, customers can also benefit from a low down payment, low interest rate, or low monthly options.

There is the Step Up PayPlan for those who want a lower monthly amortization for the first two years of the loan. Multi-Year Auto Loan Protection is for those who want to bundle their insurance premium with their auto loan amortization so they don’t have to deal with the hassle of annual renewals and upfront insurance payments.

For those with cash in their bank accounts, Zero Cash Out allows them to instruct BPI to hold the cash as a deposit so they can drive efficiently now and pay later. Insurance, movable mortgage costs and at least the first month’s amortization of their car loan will also be subsidized by BPI.

BPI Retail Lending Group, Head Dennis Fronda, said BPI’s partnership with Ford Philippines paves the way for its customers to own a Ford as more people seek a safer way to travel amid the pandemic.

“With this partnership, we also see the opportunity to work even more closely with the Ford dealership network nationwide, so that we can better serve their customers in the dealerships. We see opportunities to add value to each of our institutions and to grow sustainably despite the pandemic,” said Fronda.

He added that Ford Philippines continues to show strong retail performance and its vehicles remain among BPI’s customers’ favorite brands.

Mike Breen, Managing Director of Ford Philippines, said this breakthrough partnership allows Ford Philippines and its dealerships to expand its network of banking partners for customers, which will make the buying and ownership experience easier and hassle-free.

“BPI is one of the largest and most trusted banks in the Philippines, and this partnership will allow us to leverage their large, stable customer base and nationwide presence. This partnership will provide our customers with a new banking partner that will provide exclusive offers, competitive rates and flexible financing programs within a well-established auto loan program,” said Breen.

Fronda said demand for cars has increased despite the pandemic. BPI’s monthly website applications tripled between early 2020 and late 2020. In addition, the total number of online applications for the first 7 months of 2021 increased by 37% compared to the same period in 2020.

To find out more about exclusive offers and promotions, customers can visit any Ford Dealership or BPI branch nearest to them.