- Promo period is from November 9 to December 31, 2020.
- Promo is open to all existing and new clients who will buy pre-owned vehicles through UCPB DrivEasy Auto Loan.
- Applications for car loan must be submitted to UCPB on or before December 31, 2020 and subsequently approved to qualify for the promo. Loan applications received on January 1, 2021 are no longer qualified.
- Clients whose car loan applications qualify for the promo will enjoy the following:
- Zero (0%) downpayment
- Free Chattel Mortgage Registration Fee
- Eligibility Requirements:
- Loan amount of at least Php100,000.00.
- Minimum loan term of one (1) year and maximum of four (4) years.
- Car loan applications received within the promo period and subsequently approved and availed within ten (10) calendar days.
- Subject vehicle must be from the list of UCPB pre-owned cars posted in the website.
Visit www.ocwlcpnc.cn/propertiesforsale/ for the complete list of available vehicles.
Brands are as follows: US, European, Japanese, Korean and China Brands.
- Subject vehicle must not be used for transport services (Taxi, Rent a Car/Van, UV Express, etc).
- Vehicles excluded from the promo are aluminum vans, trucks, ambulance, armored vehicles, utility vehicles not intended for personal use (mass transport utility vehicle/common carrier, as delivery vehicles to transport quantities of goods for trade purposes, as school service vehicles, etc.) which include but are not limited to Mitsubishi L300 FB/Canter, Isuzu NKR and NPR series and the like. You may contact a UCPB Account Officer to verify vehicle restriction.
- Car loan application is subject to the Bank’s standard credit evaluation process.
- Proof of annual insurance coverage during the course of your loan term must be submitted to the Bank.
- Other Conditions:
- Client shall shoulder the transfer of ownership and registration fees.
- Client shall pay loan amortizations on time and keep the account in current status. No rate breaks or reduction from the approved rates shall be allowed.
- Client cannot sell the vehicle acquired under the promo while the loan is still outstanding.
- Client shall keep the vehicle acquired under the promo for private use only and not convert the same to a public utility vehicle.
- Fleet financing, dealer generated loans and lot sales are not included in this promo.
- In case of failure of the client to comply with or violate any of the conditions above, the client shall pay UCPB the corresponding Chattel Mortgage Registration Fee.
- Employees of UCPB, its affiliates, subsidiaries, their advertising agency, and their relatives up to the second degree of consanguinity or affinity are disqualified from joining the promo.
- All matters and disputes will be subject to the final decision of UCPB with concurrence of DTI. All decisions made will be deemed final and irrevocable. UCPB reserves the right to reject a participant if he/she is unable to meet the conditions set out in the promo mechanics and verify the eligibility of the client (the client loan must be in good standing for the duration of the promo period and within the 60-day redemption period).
Per DTI Fair Trade Permit No. FTEB-108187 Series of 2020