1. Know Your Vehicle’s Appraised Value
Before applying for a loan or Sangla OR/CR, get an accurate appraisal. Most financiers approve up to 70% of your vehicle’s market value depending on its condition, model year, and brand reputation.
2. Prepare Complete Requirements
Incomplete documents delay approval. Ready your valid IDs, proof of income, and vehicle registration (OR/CR). Corporate and self-employed applicants should also prepare business permits and bank statements.
3. Compare Loan Options
Different banks and private financiers offer varying rates and terms. Compare offers to find the best balance of interest rate, payment term, and flexibility that fits your budget.
4. Avoid Late Payments
Timely payments protect your credit score and ensure smooth renewals or future applications. Set reminders or automatic payments to avoid penalties or repossession risks.
5. Deal Only with Accredited Partners
Always transact through trusted and accredited financing companies or banks. AutoTrustPH works only with verified institutions for your peace of mind and protection from scams.
6. Maintain Proper Vehicle Condition
A well-maintained vehicle can increase appraisal value and reduce interest risks. Regular servicing and clean documentation reflect responsible ownership.