Applying for an auto loan is simple when you have the required documents ready. To ensure a smooth and efficient application process, please prepare the documentary requirements based on your employment or business status.
Please note: Documentary requirements may vary depending on the financing institution and the applicant's credit profile. Additional documents may be requested during the credit evaluation process.
Requirements
- Duly accomplished Auto Loan Application Form
- At least two (2) valid government-issued IDs with signature
- Proof of Billing (latest utility bill or billing statement)
- Tax Identification Number (TIN), if applicable
Eligibility
- At least 21 years old (or as required by the financing institution)
- Stable employment with a regular source of income
Documentary Requirements
- Latest Certificate of Employment (COE)
- Latest 3 months' payslips
- Latest Income Tax Return (ITR) or BIR Form 2316, if applicable
- Latest bank statements (if required)
- Valid government-issued IDs
- Proof of Billing
Eligibility
- Business must be operational for the minimum period required by the financing institution
- Stable business income
Documentary Requirements
- DTI Registration (for sole proprietorship) or SEC Registration (for corporations/partnerships)
- Mayor's Permit or Business Permit
- Latest Income Tax Return (ITR)
- Audited Financial Statements (if applicable)
- Latest 6 months' bank statements
- Valid government-issued IDs
- Proof of Billing
Documentary Requirements
- Professional Regulation Commission (PRC) ID (if applicable)
- Certificate of Practice or Clinic/Office Information
- Latest Income Tax Return
- Latest bank statements
- Valid government-issued IDs
- Proof of Billing
Documentary Requirements
- Valid Passport
- Valid Overseas Employment Contract
- Latest Certificate of Employment or Payslips
- Proof of Remittance or Overseas Bank Statements
- Valid government-issued IDs
- Proof of Billing (Philippine address)
- Special Power of Attorney (SPA), if a representative will process the application
Documentary Requirements
- SEC Registration
- Articles of Incorporation and By-Laws
- General Information Sheet (GIS)
- Board Resolution authorizing the vehicle purchase
- Latest Audited Financial Statements
- Latest Income Tax Return
- Latest bank statements
- Valid IDs of authorized signatories
Step 1
Choose your preferred Changan vehicle.
Step 2
Prepare and submit the required documents.
Step 3
Our Dealer Team reviews your application.
Step 4
Your application is endorsed to our accredited financing partners for credit evaluation.
Step 5
Receive your loan approval and financing offer.
Step 6
Sign the loan documents.
Step 7
Complete the vehicle release process and drive home your new Changan.
Helpful Tips for Faster Loan Approval
- Submit complete and accurate documents.
- Ensure all IDs are valid and not expired.
- Provide updated contact information.
- Maintain a good credit standing.
- Respond promptly to requests for additional documents or verification.
Frequently Asked Questions (FAQs)
Individuals who meet the financing institution's eligibility requirements may apply, including:
- Salaried employees
- Self-employed individuals
- Professionals
- Overseas Filipino Workers (OFWs)
- Corporate entities
Loan approval is subject to the financing institution's credit evaluation and approval process.
The minimum down payment depends on the vehicle model, financing institution, and approved loan program. Our Finance & Insurance Team can provide a personalized quotation based on your preferred Changan vehicle.
Loan terms typically range from:
- 36 months
- 48 months
- 60 months
Availability may vary depending on the financing institution.
Loan approval generally takes 1 to 3 banking days after complete documentary requirements have been submitted. Processing times may vary depending on the financing institution and the complexity of the application.
Yes. You may still apply, provided you meet the financing institution's credit requirements and demonstrate sufficient repayment capacity.
Yes. Self-employed individuals are welcome to apply by submitting the required business and financial documents.
Yes. Overseas Filipino Workers (OFWs) may apply by submitting the required employment and identification documents. An authorized representative may also assist with the application through a Special Power of Attorney (SPA), if required.
Some applications may require a co-maker or guarantor depending on the financing institution's credit assessment.
Yes. Early loan settlement may be allowed, subject to the financing institution's policies and any applicable fees.
A declined application does not necessarily mean you cannot finance a vehicle in the future. Our Finance & Insurance Team may recommend alternative financing options or assist you in exploring other accredited financing partners.
Yes. Comprehensive Motor Insurance is generally required for financed vehicles throughout the duration of the loan to help protect both the vehicle owner and the financing institution.
In many cases, yes. However, the insurance provider must meet the financing institution's accreditation requirements. Our team can also recommend trusted insurance partners offering competitive rates and reliable coverage.
Yes. We work with several accredited financing partners, and our Finance & Insurance Team will help you compare available financing options to find one that best suits your needs and qualifications.
Depending on the financing package, additional costs may include:
- Chattel Mortgage Fees
- Comprehensive Motor Insurance Premium
- LTO Registration Fees
- Other applicable government or bank charges
Your Finance & Insurance Specialist will provide a detailed breakdown of all applicable costs before you finalize your purchase.
Getting started is easy:
- Choose your preferred Changan model.
- Submit the required documents.
- Receive a personalized financing quotation.
- Complete the credit evaluation process.
- Upon approval, sign the loan documents and take delivery of your new Changan.