Metrobank Car Loan: An Awesome Deal, For An Awesome Car

Get free chattel mortgage fee and free insurance for one year when you avail of Metrobank Car Loan.

Car Loan Mechanics:

• Promo will run from July 02 to September 30, 2014.
• Promo is offered to brand new cars. Loan application must be received within the promo period.
• Minimum required downpayment is 20% of the amount of the car.
• Minimum term of the loan must be 3 years.
• Approved loan must be P500,000.00 to 3,000,000.00.
• All approved loans in any Metrobank Branch are entitled to get Free Chattel Mortgage and Comprehensive Car Insurance for 1 year.
• Loan must be confirmed within 60 days from date of loan approval but not later than November 30, 2014. Applications received or already approved prior to the start of the promo promo may still qualify if the following conditions are met.
• If already approved prior to the promo implementation, application must be confirmed between July 02 to September 30, 2014.
• If application was received prior to the promo implementation, application must be approved between July 02 to September 30, 2014 and confirmed within 60 days from date of loan approval but not later than November 30, 2014.
• When the unit is released from the car dealership, the car will be insured. Metrobank will pay for the premium directly to Charter Ping An. The Metrobank Branch Officer or the appointed representative from the branch, where the loan was secured, will contact the customer when the insurance certificate is available for pick-up from the branch.
• The FREE comprehensive insurance coverage for the 1st year includes Acts of God but not TPL (Third party Liability).
• Promo does not cover Processing/Handling Fee amounting to P1,500.00 per account.
• Promo will not cover loan applications of utility vehicles and light trucks, such as but not limited to Mitsubishi L300 FB/Canter, Isuzu NKR and NPR series.
• No rate breaks or reduction from the approved rates shall be allowed.
• The promo cannot be availed of along with other on-going promotional activities or other special considerations, such as but not limited to special rate reductions granted to corporate tie-up arrangement or fleet accounts. If there is conflict arising from these  situations, the borrower must choose which promo or consideration he/she will avail of, and inform Metropolitan bank and Trust Company in writing.

Conditions:     

The car loan borrower:

• Cannot pre-terminate their Metrobank Car Loan within the first 3 years.
• Must renew their Car insurance coverage for the 2nd 3rd years with Charter Ping An.
• Must keep the vehicle acquired under the promo for personal use only and not convert the vehicle to a public utility vehicle.
• Cannot sell the vehicle acquired under the promo while the loan is outstanding or within  the first 3 years of the loan.
•  Must pay loan amortizations on time and keep the account in current status.

In case of failure to comply with any of the conditions above:

• Borrower shall pay Charter Ping An the insurance premium for the 1st year coverage and/or reimburse Metrobank for the cost of the Free Chattel Mortgage.
• Borrower shall authorize Metropolitan Bank and Trust Company to hold the release of the original LTO OR/CR, Deed of Cancellation/Release of the Chattel Mortgage, and other documents relative to the vehicle upon maturity of the loan until any unpaid obligation i.e. insurance premium and/or chattel mortgage is settled.

Promo is non-transferable.

Insurance provided by: CHARTER PING AN INSURANCE CORPORATION

For inquiries, call 8700-700 or domestic toll-free 1-800-1888-5775 (for provincial areas only).

To find out more, visit www.metrobank.com.ph. or apply at the nearest branch.

METROBANK

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