BPI makes it easier for clients to take home a Ford

MANILA: The Bank of the Philippine Islands (BPI) and Ford Philippines have partnered to offer customers even easier ways to drive home a Ford. 

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 special plans, customers can also benefit from low down payment, low interest, or low monthly options.

According to BPI Retail Lending Group Head Dennis Fronda, the BPI Auto Loan financing programs are tailored to the customer’s unique needs, which they can avail together with the cash discounts.

“With this partnership, we also see the opportunity to work even more closely with the Ford dealer network nationwide, so we can better service their customers in the dealerships. We see opportunities to add value to each of our institutions and grow sustainably in spite of the pandemic,” said Mr. Fronda.

There is the Step Up PayPlan for those who would like a lower monthly amortization during the first 2 years of the loan. How this works is, the Step Up PayPlan lowers the monthly amortization during the first two years of the loan, then gradually ups the cost as the years increase. 

To give you an idea how this might work, the Step Up PayPlan allows clients to purchase a Ford Everest which starts at P1.438 million. After a 20% Downpayment their monthly amortization may be lower between  P28,000 to P29,000 for the first two years of a five-year amortization. From the third year onwards, monthly amortization will then increase to around P31,000 to P35,000 monthly.  This gives clients more flexibility and versatility in their payments. 

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. This reduces the hassle of having to renew their auto insurance policies every year for the duration of the loan.

In Multiyear Protect, the popular Ford Territory would usually have a monthly amortization between P26,000 to P28,000 but with this special plan clients can have their insurance premiums built in to the monthly amortization.

For those who have extra cash in their bank accounts, Zero Cash Out allows customers to have BPI hold the money as down payment, so as to create a "drive now and pay later" set-up. 

Insurance, chattel mortgage fees, and at least the first month of their auto loan amortization, will also be subsidized by the bank in the Zero Cash Out. 

Aside from the Mustang, the "BPI x Ford" offers discounts for the following vehicles: Ecosport (P218,000 off), Territory (P30,000 off), Everest (P130,000 off), Ranger (P129,000 off), Transit (P230,000 off). 

 

Mr. Fronda said demand for cars have been increasing despite the pandemic. Monthly applications from BPI’s website tripled from start of 2020 to end of 2020. In addition, total online applications for the first 7 months of 2021 grew 37% versus the same period in 2020.

As for Ford Philippines Managing Director Mike Breen, he said "the milestone partnership allows Ford and its dealers to...make the purchase and ownership experience easier and hassle-free." 

To know more about the exclusive offers and deals, customers can visit a Ford dealer or a BPI branch nearest them.

Photos from Ford Philippines

Also read: Ford PH training program tackles safe driving in the new normal