The Bank of the Philippine Islands (BPI) and Ford Philippines have partnered up to offer flexible auto loans and exclusive discounts.
BPI Retail Lending Group Head Dennis Fronda said the partnership of BPI with Ford Philippines opens up a way for its clients to own a Ford as more and more people look for a safer way to travel amid the pandemic.
“With this partnership, we also see the opportunity to work even more closely with the Ford dealer network nationwide, so we can better serve their customers in the dealerships. We see opportunities to add value to each of our institutions and grow sustainably despite the pandemic,” said Mr. Fronda.
BPI Retail Lending Group Head Dennis Fronda
He added that Ford Philippines continues to deliver strong performance and that its vehicles are among the preferred brands of BPI customers.
Mike Breen, Ford Philippines Managing Director, said the milestone partnership allows Ford Philippines and its dealers to expand its network of banking partners for customers to make the purchase and ownership experience easy and hassle-free.
“BPI is one of the biggest and most trusted banks in the Philippines, and this partnership will allow us to tap into their large stable customer base and nationwide presence. This partnership will give our customers a new banking partner that will extend exclusive offers, competitive rates, and flexible financing programs under a well-established auto loan program,” Mr. Breen said.
Ford Philippines Managing Director Michael Breen
Under the partnership, customers can avail easy-to-own plans for the Ford Ranger, Ford Territory, and Ford Everest. Aside from the savings from these plans, customers can also benefit from the low down payment, low interest, or low monthly options.
For BPI, Mr. Fronda said there is also a suite of BPI Auto Loan financing programs to choose from, depending on the client’s unique needs, that they can avail of together with the cash discounts.
New Auto Loans and Discounts from BPI, Ford PH Tie-up
Step Up PayPlan for those who would like a lower monthly amortization during the first two years of the loan. The Auto Loan Multiyear Protect is for those who would like to bundle their insurance premium with their auto loan amortization so they will no longer have to go through the hassle of annual renewals and upfront insurance payments.
·For those who have cash sitting in their bank accounts, Zero Cash Out allows them to have BPI hold the money as down payment so they can effectively drive now and pay later. Insurance, chattel mortgage fees, and at least the first month of the auto loan amortization are subsidized by BPI.
Mr. Fronda said demand for cars has been increasing despite the pandemic. Monthly applications from BPI’s website tripled from the start of 2020 to the end of 2020. In addition, online applications for the first seven months of 2021 grew 37% versus the same period in 2020.
When asked how BPI can offer such enticing offers, the executives disclosed that auto loans on Ford vehicles have low delinquency rates, and they would like to capitalize on that.
For more information, visit www.Ford.com.ph or www.BPIAutoLoans.com/.
New Auto Loans and Discounts from BPI, Ford PH Tie-up
New Auto Loans and Discounts from BPI, Ford PH Tie-up
New Auto Loans and Discounts from BPI, Ford PH Tie-up
Read more about Ford Philippines here:
- https://ignition.ph/news/ford-ph-launches-13th-driving-skills-for-life-spotlights-safe-driving-in-the-new-normal
- https://ignition.ph/news/ford-ph-brings-in-new-mustang-shelby-gt500
- https://ignition.ph/news/ford-ph-extends-offers-for-ecosport-everest-ranger-and-transit
- https://ignition.ph/news/ford-ph-increases-parts-availability-for-better-ownership-experience
- https://ignition.ph/news/ford-ranger-territory-are-brand-s-top-performers-for-first-half-of-2021
- https://ignition.ph/news/ford-ph-has-sold-over-5000-ford-territory-units-in-11-months
- https://ignition.ph/news/ford-ph-strengthens-4×4-pickup-offerings-with-ranger-raptor-x-and-ranger-wildtrak-4×4-with-power-roller-shutter
- https://ignition.ph/news/ford-motor-company-appoints-michael-breen-as-ford-philippines-new-managing-director