In short
Approval is entirely up to whichever partner you match with, not AutoDeal itself. Its calculator applies a rate once over your chosen term rather than a true yearly rate.
Confirm the actual figure with the partner before signing. A direct bank car loan on ₱1,000,000 over 60 months starts at ₱20,967 a month at UnionBank.
- Is AutoDeal a lender
- No. It is a comparison and application service; approval is the lender's decision
- Partner lenders listed
- 8: Global Dominion, Right Choice, Global Mobility Service, Chailease Berjaya, Security Bank, EastWest, Sterling Bank of Asia, Asialink
- Rate basis in its calculator
- Applied once over the term, not stated as an annual percentage rate
- Stated approval time
- Usually within 48 hours
Check which banks' rules you meet
Loan length: 5 years.
Enter your age and monthly income to see which banks' rules you meet.
The banks' stated minimums. Banks also check your credit record and documents; meeting these rules is not an approval. Security Bank's income rule differs between its own pages, so this tool leaves it out.
Is AutoDeal a lender or a broker?
AutoDeal is a broker, not a lender. Its site states plainly that approval depends on the lender you are matched with, and that AutoDeal has no influence over that decision.
AutoDeal.com.ph is owned and operated by Sirqo Group Inc., which describes itself as a vehicle advertising website, registered with the Bureau of Internal Revenue.
It does not present itself as an SEC-licensed lending or financing company, because it is not one.
What it actually runs is a calculator and an online application form. It collects your documents once and routes them to whichever partner lender fits your loan.
Eight partners appear in its calculator's own configuration. They are Global Dominion Financing, Right Choice Finance, Global Mobility Service, Chailease Berjaya Finance, Security Bank, EastWest Bank, Sterling Bank of Asia, Asialink Finance Corporation.
Of those eight, only three carry rates inside AutoDeal's calculator itself; the other five show no configured rate at all.
How AutoDeal's calculator rates actually work
AutoDeal's calculator applies each partner's configured rate once over the whole term, the way an add-on rate works. It then displays what it calls an "Annual Interest Rate" by simply multiplying that rate by 12 and dividing by the term.
That is a simple annualization, not an effective annual rate the way a bank states one. AutoDeal does not date any of the figures in its calculator.
Treat every number here as AutoDeal's own configuration, not a same-day quote from the lender.
| Partner | 12 mo | 36 mo | 60 mo |
|---|---|---|---|
| Security Bank | 6.24% | 18.06% | 31.55% |
| EastWest Bank | 8.35% | 20.82% | 36.25% |
| Sterling Bank of Asia | 11.07% | 22.86% | 35.41% |
| Asialink Finance | 15.06% | 32.76% | 45% |
AutoDeal's rates are its own calculator settings, not a live quote from Security Bank, EastWest or Sterling. Confirm the actual rate on each lender's own page before comparing.
Down payment, age and income
AutoDeal's calculator sets down payment options at 20%, 30%, 40% or 50% for a new car. Asialink and Right Choice start at 30% instead of 20%.
For a used car, the range widens. Security Bank allows as low as 0% in its configuration, Chailease as low as 10%, and the rest from 20% or 30% up to 50%.
AutoDeal's own FAQ separately states that offers exist with 15% to 50% down, with some promos going to 0%. The exact figure depends on which promo and partner you land on.
AutoDeal's stated eligibility rule is an applicant aged 21 to 65 at final loan maturity. It also requires a combined household income of at least ₱40,000 for a brand new car or ₱20,000 for a used one.
On top of that, it requires 2 years of proof of income or business revenue. Filipino residents qualify directly.
A foreign resident needs a company endorsement and a Filipino co-maker, and a Filipino working abroad needs a Filipino co-maker as well.
- Age
- 21 to 65 years old at final maturity
- Minimum household income, new car
- ₱40,000 a month, combined with spouse
- Minimum household income, used car
- ₱20,000 a month, combined with spouse
- Approval time stated
- Usually within 48 hours
Documents and how to apply
Every applicant needs a valid government-issued ID with a signature and photo, plus a recent proof of billing in their own name. They also need the dealer's quotation for the vehicle.
On top of that, an employed applicant shows the latest ITR or BIR Form 2316, or 3 months of payslips. They also provide a Certificate of Employment with Compensation.
A Filipino working abroad shows a crew contract or a consulate-authenticated employment contract, plus 3 months of remittance proof. A self-employed applicant shows an ITR or 2316, plus audited financial statements or a statement of assets and liabilities.
They also provide DTI or SEC registration and 3 months of bank statements. A used vehicle also needs its LTO OR/CR, a deed of sale, and a PNP clearance and macro-etching certificate.
- Run AutoDeal's calculator for a rough monthly figure
Treat the output as an estimate; the underlying rate is AutoDeal's own configuration, not a confirmed lender quote.
- Get quotations from partner lenders through the site
AutoDeal compares offers from its 8 listed partners for your chosen car and down payment.
- Complete the online application and upload documents
The exact document list depends on whether you are employed, self-employed, or working abroad.
- Government ID
- Proof of billing
- Dealer quotation
- Income documents matching your employment type
- Wait for the lender's decision
AutoDeal states approval usually within 48 hours, though the final decision and its timing belong to the lender, not AutoDeal.
AutoDeal versus applying to a bank directly
Going through AutoDeal can save time if you want several partner quotes in one form. But three of its eight partners carry no rate in its own calculator, and the ones that do are unlabelled, undated figures, not confirmed quotes.
Applying directly to Security Bank or EastWest gives you a dated, sourced rate table instead. So does comparing all 8 rate-confirmed banks on the car loan calculator.
On a ₱1,000,000 loan over 60 months, add-on rates at the 7 that quote one currently span 25.80% to 32.52%.