In short
Security Bank's main auto loan page sets its joint-income threshold for these arrangements at PHP 100,000 a month. Its pre-owned page states PHP 40,000 for a brand-new car.
Under the Civil Code, a guarantor's liability is not automatic; the creditor must first exhaust the debtor's own property unless the guarantor signed on solidarily. No bank sets out its own co-maker contract clause in plain view.
So whether your bank treats a co-maker as a guarantor or a surety is not something you can check from its website.
- Civil Code basis for guaranty
- Republic Act 386, Articles 2047 to 2084
- Solidary obligation basis
- Civil Code Articles 1207 and 1216
- Security Bank: joint income requirement
- PHP 100,000/month, subject to co-borrower guidelines
- EastWest: co-maker trigger
- Required for a foreigner without 1 year PH residency
- Security Bank: co-maker trigger
- Required for foreign residents, Filipinos abroad, and businesses under 3 years
- No lender states
- A co-maker's own minimum income, age limit, or credit check
Co-maker, guarantor, surety: the legal difference banks don't spell out
Banks use "co-maker," "co-borrower," and "guarantor" almost interchangeably on their own pages. Philippine law does not.
Under Civil Code Article 2047, a guarantor binds himself to fulfill the principal debtor's obligation only if the debtor fails to do so.
If that same person instead binds himself solidarily with the debtor, the Civil Code calls the contract a suretyship. That changes everything about when the bank can come after them.
A plain guarantor gets a real protection called the benefit of excussion (Article 2058). The bank cannot compel the guarantor to pay until it has exhausted the debtor's own property and legal remedies first.
That protection disappears under Article 2059 if the guarantor expressly renounced it, or bound himself solidarily with the debtor. It also disappears if the debtor is insolvent or cannot be sued in the Philippines.
No bank car loan page sets out which of these its own promissory note creates. Do not assume you get the benefit of excussion just because a form calls you a guarantor.
Which banks require or accept a co-maker, and when
Five lenders set out a clear trigger. Security Bank requires a qualified Filipino citizen guarantor or co-maker for two groups.
They are foreign citizens residing in the Philippines with a company endorsement, and Filipino citizens living outside the country. Security Bank also requires co-makers or sureties for start-ups or businesses operating less than three years.
EastWest's eligibility rule allows a foreigner to apply if they have lived in the Philippines for at least a year. Otherwise, they may apply with a Filipino co-maker.
For married applicants, the requirement is narrower: it is usually a signature, not a separate credit assessment. EastWest lists "Spouse as co-maker (for married applicants)" among documents required upon loan approval.
BPI's own application instructions state that if married, both spouses sign the application form, and a co-borrower or co-mortgagor needs a separate application form.
China Bank Savings requires the written consent of a married applicant's spouse on its Easi-Drivin Auto Loan, except where the law provides otherwise.
| Lender | When a co-maker or spouse signature applies |
|---|---|
| Security Bank | Foreign resident, Filipino living abroad, or business under 3 years |
| EastWest | Foreigner without 1 year of PH residency |
| BPI | Married applicants (both spouses sign); co-borrower needs a separate form |
| China Bank Savings | Written spousal consent for married applicants |
What documents a co-maker actually submits
The stated list is short, and it is IDs, not a separate financial dossier. Security Bank asks for a valid government-issued ID with signature and photo from the borrower, spouse, co-borrower, and co-maker alike.
China Bank asks for two valid IDs for the applicant and spouse, and, for corporate or partnership applicants, two valid IDs for the co-borrower. Maybank's form asks for two valid IDs covering the borrower and spouse or authorized signatory.
AUB, for self-employed applicants, asks for government-issued IDs of the owner and spouse.
None of these lenders sets a separate income floor, age limit, or credit check specifically for the co-maker. That is distinct from what applies to the primary borrower.
The full document checklist covers what the primary applicant submits alongside these co-maker IDs.
4 of 4 still to check
If the borrower stops paying, what happens to the co-maker
This depends entirely on whether the arrangement is a guaranty or a suretyship, and that distinction sits nowhere on a bank's own site.
If it is a plain guaranty, Article 2058's benefit of excussion means the bank has to exhaust the borrower's own assets and legal remedies first.
If the co-maker signed solidarily, Article 1216 lets the bank go after the co-maker directly, without touching the borrower's assets at all.
A co-maker who ends up paying is not left empty-handed either way. Under Article 2066, the debtor must indemnify a guarantor who pays.
That covers the total debt, legal interest from the date of notice, and any expenses incurred after notifying the debtor. Article 2067 subrogates the paying guarantor to all the rights the creditor had against the debtor.
One more protection is worth knowing. Under Article 2079, if the bank grants the borrower an extension without the co-maker's consent, that extension can release the guaranty.
Simply failing to demand payment on time is not treated as an extension.
Ask directly whether your bank's contract makes you a guarantor with the benefit of excussion, or a surety who can be pursued immediately. The Civil Code treats these very differently, and no bank states which one its own form creates. Age and income eligibility for the primary borrower are covered in the age limit guide and the credit score guide.