What is Auto Loan FlexiLite by RCBC, and How Can It Help You?
Owning a car is one of life’s milestones. It gives you the freedom, independence, and joy of getting to where you need to be—all on your own terms. Whether it’s driving your kids to school, heading to the office, or taking weekend road trips, a car makes life easier and more rewarding.
But the reality is that buying the best family car requires big money, and not everyone has the savings to pay for it outright. It's not just about affordability; some people choose to prioritize other financial goals, making a sizeable down payment an impractical decision even if they have the funds.
This is why car financing or taking an auto loan is the smart choice. Learn more about what auto loan FlexiLite is and how it makes car ownership possible without draining your savings.
Reasons to Get an Auto Loan
Getting an auto loan isn't just about the convenience of paying over time; it's a strategic financial move that empowers you to purchase a vehicle without compromising your financial stability.
In the Philippines, auto loans are popular because of these key advantages:
• Financial Flexibility: Instead of tying up a large amount of cash, an auto loan allows you to keep your savings intact for other priorities, such as investments, family needs, or emergencies.
• Faster Accessibility: It makes car ownership a reality sooner, so you don't have to wait years to save the full amount. This allows you to gain the convenience and safety of having a personal vehicle when you need it most.
• Affordable Payments: You can choose a flexible repayment plan that aligns with your income and lifestyle, making it easier to budget for a car without financial strain.
RCBC Auto Loan FlexiLite: Your Dream Car Come True
RCBC understands that car ownership should be both achievable and financially practical. That’s why we created the Auto Loan FlexiLite—a financing solution designed to help Filipinos drive home their dream car without the financial strain.
How Auto Loan FlexiLite Works
For families and individuals who prefer not to make a hefty upfront payment, RCBC's FlexiLite auto loan provides an innovative solution. Unlike traditional loans, this product is structured to give you maximum financial flexibility from the very start.
Here is a breakdown of how it works:
• 0% Down Payment. Unlike traditional auto loans, Auto Loan FlexiLite gives you the option to bring home a brand-new car without a down payment. Loan term is from 36 to 60 months.
• Residual Value. At the end of your chosen term, you pay a 20% balloon payment (called the residual amount). You can settle this in full or opt for an additional amortization plan, for a minimum of 12 months to a maximum of 36 months.
• Lower Monthly Payments. Because part of the total loan is set aside as the residual value, your monthly amortization is lighter and easier to manage.
Loan Terms
The Auto Loan FlexiLite coverage applies exclusively to brand-new private and personal vehicles. All brands and units are accepted, except trucks and big bikes.
The Auto Loan FlexiLite is available for amounts ranging from a minimum of ?500,000 to a maximum of ?3 million. This financing option is limited to one unit per eligible customer. Any dealer-provided discounts on vehicles will be applied directly to the unit’s suggested retail price (SRP).
Eligibility Requirements
To qualify for Auto Loan FlexiLite, New-to-Bank and new Hexagon Club Priority members must meet two requirements. First, they need to deposit 10% of the loan amount or ?100,000 (whichever is higher) and maintain it as a hold for one year. Additionally, their Hexagon average daily balance (ADB) must be at least ?100,000.
Take the First Step to Owning a Car. Apply Now!
Owning a car should feel exciting and full of possibilities. That is what Auto Loan FlexiLite is all about. You can drive home your brand-new vehicle without a large down payment, enjoy lower monthly payments, and decide later how to handle the final balance.
Talk to your RCBC relationship manager or apply online.
