In short
Security Bank's Business Auto Loan asks for a minimum 30% down payment over 12 to 36 months, with a minimum loan of ₱400,000. BDO caps a business-use brand-new loan at 3 years against 5 years for personal use.
Across the 7 banks that quote an add-on rate, personal-use 60-month rates today run 25.80% to 32.52%; no bank states a separate business-use rate.
- Named business or fleet products
- Security Bank Business Auto Loan and Auto Fleet Facility; BDO, Metrobank, EastWest, China Bank and BPI all state business-use eligibility inside their regular auto loan
- Minimum down payment, business use
- 30%, at both BDO (brand new) and Security Bank's Business Auto Loan
- Fleet financing minimum
- 3 vehicles totaling at least ₱8,000,000, at Security Bank
- Vehicle purchase not presumed a business expense
- BIR Revenue Regulations No. 12-2012
Which banks finance a car for business use?
Business-use vehicle financing is a real, stated category, unlike most of the segments we cover in this series.
Security Bank runs the most explicit setup, with a Business Auto Loan for company-registered borrowers and a separate Auto Fleet Facility for multi-vehicle accounts.
BDO, Metrobank, EastWest, China Bank and BPI all state business-use or corporate eligibility inside their regular auto loan rather than as a separate product name.
| Bank | How business use is offered | What it covers |
|---|---|---|
| Security Bank | Named products: Business Auto Loan and Auto Fleet Facility | Rent-a-car, taxi, UV Express/shuttle, TNVS such as Grab, school or company service, trucks |
| BDO | Separate business-use terms on the standard auto loan application | Shorter terms and higher down payments than personal use; no product renamed for business |
| Metrobank | Case-to-case, limited to utility vehicles and light trucks | Vehicles like the L300 FB, Isuzu NKR and Hyundai H100; no taxis or Grab-style TNVS |
| EastWest | Corporate eligibility inside the standard auto loan | Registered business entities profitably operating at least 3 years |
| China Bank | Corporate document track on the AutoPlus form | SEC-registered corporations and partnerships |
| BPI | Business-use forms; a separate truck loan line | LTFRB franchise units, partnership and corporate part-owners, light to heavy trucks |
Business-use terms vs personal-use terms
Where a bank states both, business-use financing is consistently shorter and requires more down payment than the same bank's personal-use loan.
| Bank | Personal use | Business use |
|---|---|---|
| BDO, brand new | Up to 5 years, minimum 20% down | Up to 3 years, minimum 30% down |
| BDO, pre-owned | Up to 4 years, minimum 30% down | Up to 2 years, minimum 40% down |
| Security Bank | 12 to 60 months, down payment as low as 20% | Business Auto Loan: 12 to 36 months, minimum 30% down; Auto Fleet Facility: 12 to 60 months, down payment as low as 20% |
Fleet financing: Security Bank's minimums
Security Bank's Auto Fleet Facility is the only named fleet product with fully stated terms.
- Minimum fleet size
- At least 3 vehicles, including trucks, totaling at least ₱8,000,000
- Financed amount, brand new
- Minimum ₱400,000, up to 80% of the purchase price
- Financed amount, second hand
- Minimum ₱100,000, up to 70% of the appraised value
- Maximum vehicle age
- Up to 11 years old
- Term
- Brand new 12 to 60 months; second hand 12 to 48 months
- Down payment
- As low as 20% of the purchase price
- Processing time
- 10 to 15 days from complete documents, for fleet line accreditation
Documents a business borrower needs
A sole proprietor, partnership or corporation applies with company records in place of an individual's payslip. A sole proprietor without full corporate paperwork can compare notes against our freelancer and self-employed guide, since the two document lists overlap closely.
7 of 7 still to check
If your business is less than 3 years old
Security Bank asks for at least 3 years of legitimate operation for both the Business Auto Loan and the Auto Fleet Facility. Metrobank asks for 3 profitable years.
Security Bank states that a business under 3 years old needs a co-maker or surety, not an outright exclusion. That is a different route from the standard corporate application.
Truck and heavy-vehicle financing
BPI runs a full rate table for its truck loan, separate from its passenger-car rates. It finances light and medium trucks up to 5 years, and heavy trucks up to 4 years.
Financing runs at 70% to 80% for light and medium trucks, and 60% to 70% for heavy trucks, of the approved purchase price. Maybank finances 4-wheelers to 10-wheelers, brand new, reconditioned or surplus.
It lends up to 80% of appraised value over up to 60 months, for a business at least 2 years old.
| Term | Light and medium trucks | Heavy trucks |
|---|---|---|
| 12 months | 6.55% / 11.88% | 7.68% / 13.89% |
| 24 months | 12.14% / 11.25% | 14.67% / 13.50% |
| 36 months | 18.18% / 11.19% | 22.51% / 13.70% |
| 48 months | 25.30% / 11.53% | 31.27% / 14.04% |
Leasing instead of buying
ORIX Metro leases delivery trucks, prime movers, trailers, multi-cabs, construction equipment and other heavy-duty vehicles, with an ownership option at the end of the lease. It states no rates or terms.
Treat leasing as an option to ask about directly rather than one you can size on the calculator against a bank loan.
How the BIR treats a business vehicle
A car purchase is not automatically a deductible business expense. The BIR set specific rules for this in 2012, still in force, and they cut deeper than most guides mention.
The general document trail a bank asks for is the same one listed on our car loan requirements page, plus the corporate papers above.
None of the BIR issuances above address toll fees specifically. Treat a toll cost the same way you would treat fuel or maintenance on a qualifying business vehicle. Keep the receipts, rather than assuming a blanket deduction applies.
Business car loan claims no lender actually states
A common version of this page states a 12 to 60 month term, a 20% down payment, and a 3 to 7 day processing time. It also adds a simple line about deducting fuel and tolls.
None of that holds up once business use is separated from personal use. BDO's business-use term tops out at 3 years, not 5.
Security Bank's Business Auto Loan minimum down payment is 30%, not 20%. The tax picture is narrower too, capped at one vehicle per employee under ₱2,400,000 with full documentation.