Getting Secondhand Car Financing at M Lhuillier is easy as 1-2-3

Did you know that more than 85% of the households in the Philippines do not have their own cars? 

According to a 2022 survey published in Statista.com, about 11% of the households or only 2 out 20 Filipinos own either a car, jeep, or van.  So yes, despite the traffic and the number of vehicles we see on the roads everyday, there is still a huge gap since only a number of Filipinos actually have their own cars. The cars that we see on the road are owned by the same households who are privileged to have multiple vehicles. 

Why? Is it difficult to buy a car in the Philippines?

Many Filipinos do not have their own cars for various reasons. However, it is said that it is no longer difficult to buy a car nowadays. In fact, the car industry has been very generous to provide a lot of promotions such as low downpayment and monthly fees in order to make it affordable and accessible for the average Filipino. 

Financial services have tremendously improved too. Aside from banks, there are also many financial institutions who now offer car loans, providing Filipinos more options in getting their dream car. 

For example, M Lhuillier, who is available not just in commercial areas but also in relatively low-key communities, and far-flung barangays provides opportunities for all Filipinos to get their dream car through their ML Quick Car Loan service. 

Can you tell me more ML Quick Car Loan?

ML Quick Car Loan service is the solution to your cash problems by providing a straightforward process in getting a car loan. It is known for its flexibility in loan terms and competitive interest rates.

This service can be used to: 

• Buy a second-hand car

• Refinance your existing vehicle/ use it as a collateral to get a loan  

Wow! That’s amazing. Can you tell me more about buying a second-hand car?  

More and more customers are opting to buy second-hand cars for different reasons. The most common one is practicality since second-hand cars are more affordable and cheaper given that the bulk of depreciation already occurred. Insurance rates are also lower compared to brand new units. 

This is something that M Lhuillier understands since not all banks offer second-hand car financing. Through ML Quick Car Loan, you can now apply for car financing for units with year/model 2013 and up. 

** Please note that the unit/ year should not exceed 10 years upon maturity of the loan.  

Who is qualified to get a loan? 

This is available for those who are locally employed, OFWs, pensioners and self-employed individuals with proof of income, or a pensioner with proof of pension payments. 

What are the financing terms?  

Client will pay the dealer 30% of the appraised value and the remaining 70% of the appraised value, M Lhuillier will pay to the dealer.

The maximum term is 3-4 years. Chattel fee and Comprehensive insurance are required. 

How do I apply for a ML Quick Car Loan? 

The application is as easy as 1-2-3. 

1.  Check if you are qualified for ML QCL Pre-owned Car Financing. 

2.  Pick a second-hand car from a legit dealer. Units from Honda, Toyota, Mitsubishi, Isuzu, Ford, Suzuki, and Nissan are accepted. Once you have chosen a vehicle, Pay 30% of the cost as downpayment. 

3. Then, bring the OR/CR of the car and other ML Quick Car Loan requirements to any M Lhuillier branch to get financing help with the rest of the 70% payment or you can also apply online for a car loan!

Easy right? So, what are you waiting for? Here’s your chance to get your dream car today.  

For more details, visit https://mlhuillier.com/car-loan/