5 Key Features Of A Used Car Loan

5 Key Features Of A Used Car Loan

What are the key features of a used car loan?

  1. The Affordable Alternative
  2. Choices For Car Models
  3. Reasonable Loan Terms
  4. Simple Application Process
  5. Minimal Document Requirements
  6. Fast Approval

As we adapt to the new normal, commuting daily is now considered a risk due to the ongoing threat of COVID-19. From being perceived as a luxury, having a car is now seen as a need. However, buying one is not that simple. Given the incredibly expensive prices of brand-new cars and rapidly depreciating values, knowing the key features of a used car loan proves to be invaluable for the everyday Filipino who plans finances wisely.

Secure a used car loan with only the best online financing company in the Philippines, Asialink Finance Corporation. We can assist you every step of the way to get that car you need. Here are seven key features of a used car loan to give an idea of what benefits you can reap:

The Affordable Alternative

The Affordable Alternative

Owning a car offers utmost convenience, but it can be a very expensive purchase that can easily cause your hard-earned savings to vanish. Likewise, today’s latest car models showcase attractive features yet require taking out a hefty sum.

There’s no doubt that the most affordable way to get your own car is by applying for a used car loan. At Asialink Finance Corporation, we finance the car you choose. This makes the paying aspect bearable.

Another cost benefit when it comes to used car loans is the low depreciation rate. To put it simply, the previous owner has already taken the largest depreciation hit, with values decreasing the moment the car was bought from the dealership. You get to enjoy the premiums of low cost to resale ratio.

A good way to recoup from your initial investment is by maintaining the used car properly and perhaps customizing it. You can choose to sell it for a higher price. All these factors make you get the most out of your investment.

Choices For Car Models

When it comes to securing a used car loan, you can choose your car. The offers are typically inclined towards practicality. Nonetheless, there are options for models that can cater to your needs — may it be for business or everyday life.

At Asialink Finance Corporation, we have partner car dealerships anywhere in the Philippines. Rest assured they would assist your used car loan concerns and inform you about the different models, features, and prices.

Just keep in mind that the loanable amount may also depend on the year and model of your chosen car.

Reasonable Loan Terms

When you’re looking to apply for a used car loan, you want to be offered reasonable loan terms with flexible payment options. Since loans are typically paid every month, having options on term periods allow you to plan out your budget wisely.

Depending on your current income and budget capability, we at Asialink Finance Corporation can assist you with your monthly amortization. We can evaluate and offer the best loan term based on your income and expense flow, while also considering the market value of the car you want.

Simple Application Process

No one wants to end applying for a used car loan only to be passed through different customer service channels. Traditional finance institutions typically have application processes that seemingly require you to pass the eye of a needle.

At Asialink Finance Corporation, all you have to do is provide the documentation needed and apply online. Then, you will be contacted by a single customer service operator who will immediately guide you through the loan approval process.

Minimal Document Requirements

Minimal Document Requirements

Applying for a use car loan with an online financing company boasts of minimal documentation requirements. Here at Asialink Finance Corporation, we make sure you secure the loan the fastest way possible.

You only need to present the following initial documents:

  • Two government IDs
  • Certificate of Employment from your current employer
  • Proof of Income (i.e. a photocopy of your latest payslip, most recent Income Tax Return, proof of remittance (for OFWs), and seafarer’s proof of allotment)

Faster Approval

Unlike traditional finance institutions that meticulously assess eligibility and ask for endless piles of requirements, getting approved for a used car loan from online financing companies is made so much easier. Don’t end up not securing a loan and wasting your time.

You might think that having bad credit alone means it’s already impossible to apply for a used car loan. But, that’s not the case! All these do not mean that there are no standards put into place. But, you’d be glad to know that they are more lenient. This results in faster approval.

Key Takeaway

These are the key features of a used car loan. What are you waiting for? Get ready to experience utmost convenience and drive your own car today.

Click here to start applying for a used car loan from Asialink Finance Corporation or click here to view the other types of loans!

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