As we try to wade through the new normal, our daily commute is now considered a high risk activity due to potential exposure to Covid. Although, social distancing and other measures are practiced, you are still unsure if other passengers have kept themselves safe and protected.
From being a luxury, buying a car has become a necessity for the everyday Filipino. However, getting one is not that simple. They can be expensive and you need to plan your finances properly.
Arguably, given the increasing prices of brand new cars in the market and rapidly depreciating values, pre-owned cars are becoming the best option. This is when financing companies such as Asialink Finance Corporation can become your best friend by assisting you with a financing plan to get that car.
Here are five steps on how to avail this financial solution:
Check If You Are Eligible
Perhaps the most important step when you apply for any financing product is to do a self-check on your eligibility. Knowing the qualifications and aligning your capability will give you the confidence that you will easily get approved.
Every financing company will have different eligibility standards. In general, you can be eligible if you’re a Filipino citizen who is between 21 and 59 years until the end of the loan term.
Basic requirements include a stable monthly household income of about PHP 30,000 to PHP 50,000 and employment for at least two years in the same company. A good credit rating, although unnecessary for some financial companies, can also easily pre-qualify you for a pre-owned car financing.
Decide On What Car You Need
Now, it’s time to choose your car! Don’t get too excited and decide based on aesthetic appeal. Remind yourself that you’re getting it for practical purposes.
It’s wise to initially canvas online or check out vehicle models from Asialink’s partner car dealerships anywhere in the Philippines. They would gladly assist you in knowing the differences in sizes, features and price points of every car. Your loanable amount may also depend on the year model of your chosen vehicle.
Plan Your Loan Term
With your current income and budget, how much monthly amortization are you capable of? This is an important question that Asialink Finance Corporation’s loan consultants can assist you with.
We can evaluate and offer you the best loan term based on your income flow and expenses considering the fair market value of your desired pre-owned car model. Loan terms as high as 70% can be availed. Do take note though that high-end models have an established cap of fifty percent loanable amount.
Prepare The Required Documents
Let’s proceed with the transaction and prepare the required documents. Here at Asialink Finance Corporation, we will make sure you get it the fastest way possible.
You only need the following initial documents: two government IDs, certificate of employment from your current employer and proof of income, i.e. a copy of your most recent payslip, latest Income Tax Return, OFW’s proof of remittance and seafarer’s proof of allotment.
Completely Fill Up The Application Form
Finally, the last thing to do is to complete the application form. To apply with Asialink Finance Corporation you may click here or contact 0917-808 9215.
When it comes to filling up the application form, always ensure to answer the necessary fields correctly and attach the required documents.
Ready to drive your own car? Contact us now. Meanwhile, for other financial solutions with Asialink Finance Corporation click here! We are more than ready to help you, today!
https://www.asialinkfinance.com.ph/wp-content/uploads/2021/01/businessmen-agree-to-buy-sell-used-cars_t20_A9d9pK.jpg8531280seohacker-bmhttps://www.asialinkfinance.com.ph/wp-content/uploads/2019/03/asialink-logo1-300x113.pngseohacker-bm2021-01-25 17:15:382022-03-18 13:03:00How to Get a Pre-Owned Car
FOR VALUE RECEIVED, from the proceeds of , I/WE hereby promise to pay JOINTLY and SEVERALLY, without the need for notice or demand, ASIALINK FINANCE CORPORATION ("AFC" for brevity) at its office at the SUM of PESOS (Php ) Philippine Currency, together with nominal interest thereon at the rate of % percent per month, until fully paid. I/WE also agree to pay, jointly and severally, a penalty of One Thousand Five Hundred Pesos (Php1,500.00) or 15% of the amount of monthly amortization due, whichever is higher, for every delay or non-payment and an additional 10% monthly interest thereon until fully paid, together with fixed expense charges in the amount of Php300.00 for Metro Manila accounts and Php500.00 for accounts outside Metro Manila.
The occurrence of any or all of the following shall be considered as events of default on the loan covered by this Note, in which cases, the whole sum remaining unpaid under this Note shall thereupon become due and demandable at the option of AFC, without need of prior notice or demand: (a) failure the pay this Note or any installments thereof on its due date; (b) attachment or garnishment of any property, material change in ownership or management, death, dissolution, receivership, insolvency, suspension of usual business, or similar proceedings or any attempt to abscond by any of the undersigned borrowers, their guarantors or sureties, or of the pledgers/assignors/mortgagors of properties securing this Note; (c) diminution or loss of value, whether willful or through fortuitous event, or failure to furnish any of the securities offered or required to secure this Note; (d) any material representation or warranty made by the undersigned in this Note or any other document relative to this Note shown to be incorrect or misleading as determined by AFC; (e) any act or event which, in the opinion of AFC, results in the impairment of the financial responsibility of the undersigned; and (f) failure to comply with the terms and conditions of this Note or any other agreements relative to this Note, or with the requirements of applicable laws or non-submission of documents required by AFC.
I/We also undertake not to use the proceeds of the loan for placement purposes and/or to pay any chargeable and allowable fees in relation to my travel and/or work abroad. Otherwise, AFC shall have the right to rescind the loan and declare all unpaid amortizations immediately due and demandable together with all interests and charges with damages.
In the event that this Note or any installment or interest thereof is not paid upon maturity, or when the same becomes due under any of the provisions hereof, I/We hereby authorize AFC, at its option and without prior notice, to hold, set off or apply to the payment of any amount due under this Note and/or any other obligation that I/We owe to AFC, its subsidiaries or affiliates, any and all monies, securities or other properties belonging to me/us which may be in the possession or under the control of AFC, its subsidiaries or affiliates. For this purpose, I/We hereby irrevocably appoint AFC and any of its authorized agents, upon the happening of any event constituting default, to be my/our attorney-in-fact with authority to negotiate, sell, transfer or otherwise dispose of, by public or private sale, any of my/our property, which may be in the possession of or under the control of AFC, its subsidiaries or affiliates, and to apply the proceeds thereof to the payment of this Note, including penalties and interests that may have accrued thereon. I/We shall, however, remain liable for any deficiency. Further, I/We shall indemnify AFC and hold it free from and/against any loss, damage, cost, charge or expense that AFC may sustain, suffer or incur as a consequence of such default, which sums shall be deemed included as forming part of my/our obligations.
AFC can assign, transfer and convey any or all of its rights and interest over this Note and the collateral, if any, without need of notice.
Any payment made to AFC shall be applied in the following Order of Preference: (a) costs, expenses, penalties, other accounts receivable, out-of-pocket expenses and indemnities due hereunder; (b) interests due on loan; (c) principal amount of the loan then due and payable; and (d) all other obligations to AFC, its subsidiaries or affiliates, of whatever kind and nature as they appear in the records and books of AFC, its subsidiaries or affiliates.
Any partial payment or performance of this Note or any extension hereafter granted will not be considered as a waiver or construed as to alter or vary the conditions of the original obligation, or discharge the same, and such partial payment or performance shall be considered as written acknowledgement of this obligation which shall interrupt any period of prescription.
I/We expressly consent to be bound by any extension of payment and/or renewal of this Note, in whole or in part, which may be granted to anyone or all of us under such terms and conditions indicated herein without need of executing a new or a renewal Note. I/We further agree that any interest that may have been collected in advance or on the original Note cannot be refunded as interest rebates, in the event of a renewal of this Note.
In the event that AFC should refer this note for collection to an attorney for collection, I/WE hereby expressly agree to pay solidarily, twenty-five percent (25%) of the total amount due on this note as attorney’s fees, which in no case shall be less than Five Thousand Pesos (Php5, 000.00), exclusive of all fees and cost allowed by law. I/We furthermore agree to pay AFC a service charge at the highest rate authorized by law at the time of the incurrence of this obligation at the maximum rate allowed by law with respect to such other charges, fines or penalties that the law may hereinafter or from time to time authorize AFC to collect hereon.
Any action arising out of this agreement shall be filed with the proper court of Pasay City or with the proper court of the place where AFC has a branch office at the sole option of AFC to the exclusion of courts in other jurisdictions.
Interest not paid when due shall be computed, added to and form part of the principal amount owing every thirty (30) days, and the same shall bear interest at the same rate of interest indicated herein.
AFC or any lawful holder hereof may accept partial payment and grant renewals or extensions of payments, reserving its right of recourse against any and all of the co-borrowers hereof and each and every endorser hereto.
By virtue of this Note and the assignment of assets to AFC, I/We hereby waive my/our rights under existing laws in relation to confidentiality of accounts and privacy of credit and other data or information and hereby consent and authorize AFC, its subsidiaries or affiliates, to gather, collect, share, report or disclose basic credit data and other information pertaining to me/us or my/our accounts as may be necessary or for AFC to comply with RA 9510 (Credit Information System Act), RA 10173 (Data Privacy Act) and their implementing rules and regulations as well as other pertinent laws and issuances.
Upon full and final settlement of the loan obligation under this Note as determined by AFC, the parties hereto shall be deemed to have mutually, irrevocably, freely and voluntarily released and forever discharged one another from any and all causes of action, claims and demands whatsoever in law or equity, arising, directly or indirectly from this note all of which claims or causes of action by these presents the parties hereby abandon and waive.
I/We hereby affirm that I/We have carefully read and understood the terms and conditions of this Note and I/WE agree to be bound by them, acknowledge receipt of a copy of this Note, and that I/We executed this Note before a solemnizing officer.
Before Me, a Notary Public for ___________________________, this _____day of _____________ personally appeared:
Name
Competent Evidence of Identity
Validity Date
Known to me and to me known to be same person(s) who executed the foregoing instrument and who acknowledged to me that these are valid acts of their principals and that they are authorized to sign this Contract.
Doc. No. ________;
Page No. ________;
Book No. ________;
Series of ________;
Total Payment:
First Due Date:
Last Due Date:
Principal Amount:
Outstanding Amount:
Processing Fee:
Interest Amount:
PN Docs Stamp:
Monthly Amortization:
Net Loan Proceeds:
Credit Risk Fee:
Other Fees:
Disbursement Type
Bank Name:
Account Name: Account Number:
Note: Please make sure that your Account Number is correct. For mistaken transactions, Asialink Finance will not absolve you from the debt liability.
Terms and Condition
Are your sure to send OTP at this option?
M. Lhuiller Kwarta Padala
Paying your loan has been made even more convenient with M.Lhuiller Kwarta Padala!
Asialink Finance Corporation has officially soldered a partnership with M. Lhuiller Kwarta Padala.
Now Asialink clients for loans without PDCs can utilize any of M. Lhuiller’s 1,400 branches to send in their payments.
Here’s how you can pay via M.L. Kwarta Padala: 1. Get the Bills Payment Slip and fill out the following details:
a. PAYMENT TO: Asialink Finance Corporation
b. ACCOUNT NAME: Borrower’s Name
c. ACCOUNT NUMBER: PN Number
d. PAYOR’S NAME: Name of Client/Person who made the Payment 2. Fill out the rest of the form accordingly. 3. CASH PAYMENTS ONLY. 4. Please keep a copy of your payment slip for future reference. 5. Send the Borrower’s Name, Amount Paid, Branch where the payment was made to the following text gateway numbers:
– 0917-5849271
– 0918-8236036
– 0922-8964045 6. For any questions or concerns you can call our Customer Service Hotline at 709-7777. Or you can text us at the numbers stated above.
Bayad Center
For our clients who availed our loans without PDC, you can pay at any of the Bayad Center Outlets listed below: – Greater Manila Area – North Luzon – South Luzon – Visayas – Mindanao
Paying your amortization has never been easier. Just follow these simple steps: 1. Ask for a BILLS PAYMENT FORM at the payment counter. 2. Put the BORROWER’S NAME, PN NUMBER, AMOUNT PAID and PHONE NUMBER. 3. Put ASIALINK FINANCE CORP. as the BILLER’S NAME. 4. Get the validated BILLS PAYMENT FORM. 5. Inform Asialink of your payment by texting the BORROWER’S NAME, PN NUMBER, AMOUNT PAID and in WHERE THE PAYMENT WAS MADE to:
0917-5849271
0922-8964045
0918-8236036 6. Keep your validated bills payment slip for future reference.
* Only for Tricycle w/o PDC and PUJ w/o PDC borrowers.
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