Financing Company
Carmudi Finance
Carmudi Finance is an online car marketplace that matches buyers with financing from partner banks and lending firms through Carmudi Finance. Carmudi's platform lists both new and used vehicles with instant financing pre-qualification.
Interest Rate
7% – 20% p.a.
Loan Term
12 – 60 months
Down Payment
10–20%
Processing
1 – 3 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)
Photocopy of vehicle documents (OR/CR for used cars)
Special Power of Attorney if applicant is an OFW
Certificate of Employment with compensation details
Pros & Cons
Advantages
- Rates from 7% p.a. available for qualified applicants.
- Down payment starts at 10–20%, reducing the upfront cash barrier.
- Repayment terms of 12 – 60 months give room to manage monthly cashflow.
- Approval within 1 – 3 business days is fast compared to traditional bank channels.
- Carmudi's platform lists both new and used vehicles with instant financing pre-qualification.
Drawbacks
- Maximum rate of 20% p.a. is higher than top-tier bank auto loan rates.
- Loan terms max at 60 months — shorter than the 60-month ceiling at major banks.
- Down payment of 10–20% may still be a barrier for first-time buyers on a tight budget.
- Processing of 1 – 3 business days may vary based on document completeness.
Frequently Asked Questions
What are the Carmudi Finance interest rates in 2026?
Carmudi Finance rates range from 7% – 20% p.a.. The exact rate depends on your credit profile, loan amount, and chosen repayment term.
How do I apply for Carmudi Finance?
You can apply online through the platform. Prepare a valid ID, proof of income, and proof of billing address before starting.
What is the minimum down payment for Carmudi Finance?
The minimum down payment is 10–20% of the vehicle price. A higher down payment reduces both monthly amortization and total interest paid.
How long does Carmudi Finance approval take?
Expect approval within 1 – 3 business days. Complete and accurate documentation speeds up the process.
Can I use Carmudi Finance for expressway-ready vehicles with RFID?
Yes, any vehicle financed through Carmudi Finance can be equipped with Autosweep or Easytrip RFID. Most dealerships install RFID stickers at no extra cost during vehicle release.