Loan Guide

Car Loan Amortization Table Philippines

Ready-to-use amortization tables for car loans priced ₱500,000 to ₱3,000,000 at rates of 6%, 8%, 10%, and 12% p.a. over 36, 48, and 60 months. Shows monthly payment, interest portion, principal portion, and remaining balance per period.

Interest Rate

Varies by lender

Loan Term

12 – 60 months

Down Payment

20%

Processing

3 – 7 business days

Requirements

Valid government-issued ID (passport, driver's license, or UMID)

Proof of income (latest 3 months payslips or ITR)

Proof of billing address (utility bill dated within 3 months)

Special Power of Attorney if applicant is an OFW

TIN (Tax Identification Number)

Latest 3 months bank statements

Pros & Cons

Advantages

Specific, actionable information with 2026-updated figures and requirements.
Covers both bank and alternative financing channels.
Includes real cost examples and comparison tables.
Links to related guides and loan tools on Expressway.PH.
Written for Philippine market conditions with local regulatory context.

Drawbacks

Rates and promos are subject to change without notice.
Bank-specific policies may differ from general guidelines presented.
Processing times are estimates and may vary during peak seasons.
Not a substitute for professional financial or legal advice.

Frequently Asked Questions

What is the most important thing to know about car loan amortization table?

Ready-to-use amortization tables for car loans priced ₱500,000 to ₱3,000,000 at rates of 6%, 8%, 10%, and 12% p.a. over 36, 48, and 60 months.

Which bank has the best car loan rates in the Philippines?

RCBC (5.35% p.a. promo), Metrobank (5.49% p.a.), and Landbank (6% p.a.) offer the lowest rates as of 2026. Rates depend on vehicle age, loan term, and borrower profile.

How much should I budget monthly for a car loan?

Financial advisors recommend keeping your car loan payment below 15–20% of your gross monthly income. On a ₱50,000/month salary, that means a maximum amortization of ₱7,500–₱10,000.

Can I pay my car loan through GCash or Maya?

Several banks (BDO, BPI, UnionBank) accept car loan payments through GCash and Maya. Check with your lender for exact payment channels and any convenience fees.

Do I need car insurance for a financed vehicle?

Yes. All bank auto loans require full comprehensive insurance for the entire loan period. Annual cost ranges from ₱20,000 to ₱50,000 depending on the vehicle value.

₱10,000/Month Car Loan Options Philippines

Varies by lender

₱15,000/Month Car Loan Options Philippines

Varies by lender

20% vs 30% Down Payment Car Loan

Varies by lender

₱20,000/Month Car Loan Options Philippines

Varies by lender

₱25,000/Month Car Loan Options Philippines

Varies by lender

₱30,000/Month Car Loan Options Philippines

Varies by lender

All Car Loans

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Pros & Cons

Advantages

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Frequently Asked Questions

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