Truck Loan in the Philippines: Asialink Financing Corporation
Having a truck is a decision that many people consider. With the continuous boom of the shipping industry, the demand for trucks is going higher than ever. If you are looking for a truck loan in the Philippines, Asialink Finance Corporation can offer efficient financial solutions to help you.
As one of the leading and fastest-growing finance companies in the country, we serve your financial needs through our strong network of over eighty branches nationwide.
Whether it be a second-hand Truck Financing or a Truck Mortage — we at Asialink Finance Corporation are committed to helping not just your personal needs, but your business needs as well. That being said, here is what you need to know about our truck loans.
What Truck Loans We Offer
Our company’s vision is to be a key driver of economic growth by providing inclusive financial access to our clients. Rest assured that we will provide a wide array of options to help you apply for the best truck loan in the Philippines. Read on to learn more about the different truck loans we offer.
Sangla the Filipino term for pawning or depositing. On the other hand, OR refers to the official receipt of the vehicle and CR refers to the Certificate of Registration of the vehicle.
Sangla OR/CR is a type of collateral loan that is protected by an asset pledged from the borrower. Naturally, the OR/CR of the truck is the asset to be used in exchange for a loan amount of the same value.
We understand that it is never easy to give up your vehicle. Thankfully, this arrangement allows us to take only its OR/CR. What makes Sangla OR/CR a popular truck loan in the Philippines is because the unit itself remains in the borrower’s care.
This loan is recommended for people who need immediate cash. For an interest rate of 1.5% per month, we would gladly accept any year model as long as the truck is in good physical and running condition.
2nd Hand Truck Purchase
Given the increasing prices of brand-new trucks in the market, it is understandable for people to search for the best truck loan in the Philippines. If you are planning to buy a truck but have a very limited budget, you would be glad to know about our 2nd Hand Truck Purchase loan. In fact, we offer the best used car loan in the Philippines.
Buying a truck for your business is a big investment. Whether you choose a 4 wheeler truck, which is ideal for its compact size and load capacity, or a 10-wheeler truck to accommodate bigger cargo, investing in 2nd hand trucks will open up numerous opportunities to maximize the value of your business.
No matter what type of truck you need, we at Asialink Finance Corporation have you covered. Stay on top of your business through our 2nd Hand Purchase loan!
What Are The Requirements For A Truck Loan?
Once you have finally decided to apply for a truck loan in the Philippines, you would need to meet the important requirements. But, there’s no need to worry!
At Asialink Finance Corporation, there is no need for you to go through numerous paperwork to get the benefits of a truck loan in the Philippines. We have minimal documentation required and they are the following:
Official Receipt and Certificate of Registration (OR/CR)
The first requirement for securing a truck loan in the Philippines would be a Land Transportation Office-certified OR/CR. The OR would contain details about the vehicle’s plate number, a summary of fees, the serial number, and more. On the other hand, the CR would have information such as the vehicle’s make, model, gross weight, and etc.
Your truck’s OC/CR is needed because it would serve as the loan collateral. In addition, it would help prove the company of your identity as the actual vehicle unit owner. We hope you would understand that this is a security requirement to prevent complications regarding illegal transactions or any other type of complicated deals.
Provide at least two copies of any government-issued valid identification. You can choose from the following: passport, driver’s license, SSS UMID card, PhilHealth ID, Tin Card, Postal ID, Voter’s ID, PRC ID, Senior Citizen ID, OFW ID, or GSIS Card.
Proof of Residence
Securing a truck loan in the Philippines would require proof of residence. You may choose to submit an ID with an address or any document with an address (e.g. electric bill, water bill, internet connection bill)
Proof of Income
The next requirement you would need to submit is proof of income. There are several methods to secure this document.
If you are an employed applicant, the most common documents you may submit include the latest income tax return with bank/BIR stamp or form 2316, latest payslip which you have received within the last two or three months, or original Certificate of Employment with compensation.
On the other hand, self-employed applicants can submit documents such as DTI (Department of Trade and Industry) or SEC (Securities and Exchange Commission) registration, latest audited financial statement with bank/BIR stamp, or latest income tax Return with bank/BIR stamp or form 2316.
By preparing a comprehensively documented proof of income, it would inform us that you are a financially capable applicant.
Latest Picture and Stencil of Vehicle
Just like any truck loan in the Philippines, we would require the latest picture and stencil of your truck.
Please ensure that the picture is clear and all vehicle details are seen. Some important areas of the truck that you’d want to capture include the front, rear, and sides. You may also want to include pictures of the engine, trunk, underside, wheels, and interiors. As for the stencil, take note of the truck’s motor and chassis numbers.
Proof of TIN
No transaction for a truck loan in the Philippines would be completed without submitting proof of TIN. This requirement would prove that you are a member of the Bureau of Internal Revenue (BIR) and a tax-paying citizen.
For employees, the 9-digit tax identification number will be automatically generated by your employers. If you are self-employed, you might need to the BIR website for more details.
After you’ve secured all of these documents, you may now apply for a truck loan with Asialink Finance Corporation!
How To Apply For A Truck Loan?
Securing a truck loan in the Philippines has never been easier with Asialink. Our company’s mission is “Accessible, Fast, and Convenient Loans, Today”. For this reason, we have streamlined the application process to offer borrowers the best auto loan in the Philippines.
Know how to apply for a truck loan in the Philippines by reading on.
Step 1: Check Your Qualifications
We have a few qualifications in order to qualify for a truck loan in the Philippines. Please check if you fit the following qualifications:
- You must be a Filipino citizen
- You must have a stable income
- You must be 21 to 60 years old
- Make sure you have a valid contact number
If you are qualified for the truck loan, the next step would be to create an account on the Asialink Finance Corporation website or to head to your nearest Asialink branch.
Step 2: Fill Out Application Form
In filling out the application form, you will be asked to enter your full name, email, source of income, type of loan, and the like. Make sure the details you type in are correct to have the loan approved with no problems. It is a simple process that takes only a few minutes.
Step 3: Prepare The Documents
Please refer to the list of documents required that are stated above and have everything on hand for the application. After you’ve completed all the documents, you are now down to the last stage of applying for a truck loan in the Philippines.
Step 4: Submit Your Application Form and Requirements
Keep in mind that you can submit your application in our branches or via online. There is also no application fee required for you to apply for a loan.
If you choose to go with the online application, an email will be sent to you containing further details on how to get the loan approved. Our website uses the latest security updates to ensure the privacy of the information provided by the borrowers. Rest assured that your data would be protected with us.
On the other hand, if you choose to apply through our branch, our attending personnel will accommodate you as soon as possible. The processing and approval of our truck loan is only 1 banking day!
Get A Truck Loan In The Philippines From Asialink Financing Corporation!
Asialink Finance Corporation was founded back in June 1997 with a desire to help individuals achieve their dreams and enable people’s businesses to grow. When a group of enterprising executives ventured into the consumer financing business with only 3 million pesos of capital, the demand growth and sound credit led to the finance company we are today.
Today, we employ more than seven hundred personnel, thousands of independent Loan Consultants. We also have over eighty branches nationwide serving the financial needs of businesses and individuals alike. Apart from this, we are also one of the most reliable online financing companies in the Philippines.
As one of the leading and fastest-growing finance companies in the country, we offer a range of financial solutions to help you with a truck mortgage and 2nd hand truck purchase.
We guarantee that our truck loan in the Philippines is one of the best-valued loans out there. Save time and apply at Asialink Finance Corporation today by clicking here!