Life can bring unexpected expenses—whether it’s paying for school, handling medical bills, improving a home, or supporting a growing business. To help address these financial needs, EastWest Bank introduces EastWest AutoCash, a refinancing program that lets clients unlock the value of their vehicle. With this solution, borrowers can use their car as collateral to access funds while retaining full use of the vehicle.
Through the program, borrowers may access up to 70% of their vehicle’s appraised value, with flexible repayment terms of up to 48 months.
For loans availed at 50% loan-to-value (LTV), clients can take advantage of a special interest rate of 0.68% per month, making it one of the more competitive refinancing offers currently available.
Regular refinancing loans carry a standard interest rate of 0.88% per month.
The loan-to-value ratio refers to the percentage of the vehicle’s appraised value that can be borrowed. For example, if a car is appraised at P500,000 and the loan amount is P250,000, the LTV would be 50%.
EastWest AutoCash is open to both current EastWest clients and new applicants. To qualify, the vehicle must be registered under the borrower’s name and should be no more than 10 years old. Applicants will also need to submit standard requirements such as valid IDs, proof of residence, vehicle documents, and proof of income.
Applications remain subject to credit evaluation under EastWest’s existing policies.
To learn more or apply, click here.
