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Factors to consider before taking on a car loan

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<div style="margin:0cm;line-height:115%;text-align:center;background:white"><span style="color:black"><span class="fr-img-caption fr-fic fr-dii" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/17159057564571715905753459.png" class="fr-fic fr-dii" style="width:950px"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><em>Photo source: </em></span><em></em><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><a href="https://www.metrobank.com.ph/promos/car-loan-goals-made-real-2024"><em>Metrobank</em></a></span> </span></span></span></span><span style="color:black"> </span></div><p>Tired of crowded buses and long waits on your way to work? It might be time to upgrade your daily commute with a shiny new car. But before you hit the road, let us navigate what you need to know to make the best choice for your ride ahead.  </p><div><strong>Budgeting for your dream car</strong></div><p>Transitioning from public transportation to driving requires adjustments to your budgeting strategy, because buying a car involves more than just the price tag. You also need to account for other expenses such as maintenance, insurance, and fuel costs among others. Setting a realistic budget for your first car purchase allows you to fully enjoy your car without the added stress of financial concerns. </p><div><strong>Understanding car loan terms</strong></div><p>Car loans come with different terms and conditions. Shorter terms mean higher monthly payments, but less interest overall. Longer terms may have lower monthly payments, but may lead to higher overall costs in the long run. Choose the term that best fits your budget and driving plans with the help of this  <a href="https://mcola.metrobank.com.ph/car-loan/loan-calculator">loan calculator</a>.</p><div><strong>Finding your ideal match</strong></div><p>Choosing a car is like finding the perfect match – it should suit your style and meet your needs. Take into account factors such as your daily trips, space requirements, and eco-friendly options such as fuel-efficient models. Explore more options to find your dream car with the help of this  <a href="https://mcola.metrobank.com.ph/car-loan/find-a-car-of-your-dreams">car comparison tool</a>.</p><div><strong>Metrobank&#x27;s car loan promo: Goals Made Real</strong> </div><div style="margin:0cm;line-height:115%;text-align:center;background:white"><span style="color:black"><span class="fr-img-caption fr-fic fr-dii" style="width:950px"><span class="fr-img-wrap"><img border="0" src="https://od2-image-api.abs-cbn.com/prod/editorImage/17159058121581715905807592.png" class="fr-fic fr-dii" style="width:950px"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><em>Photo source: </em></span><em></em><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><a href="https://www.facebook.com/metrobank"><em>Metrobank</em></a></span></span></span></span></span><span style="color:black"> </span></div><p>Now, let us talk deals. Metrobank has a new car loan promo that offers low interest rates and waived fees, plus other added perks – making your car purchase more rewarding:</p><ul style="list-style-type:disc;margin:0cm 0cm 0cm 20px;line-height:115%;background:white"><li><strong>• Free 1st year insurance up to P50,000:  </strong>Safety first. Metrobank&#x27;s promo includes free insurance from AXA Philippines, giving you peace of mind knowing you are covered on the road.<br/><br/></li><li><strong>• Waived fees of up to P10,000: </strong>Say goodbye to additional fees that drain your wallet. With Metrobank&#x27;s promo, you will not have to worry about extra charges eating into your budget.<br/><br/></li><li><strong>• Low-interest rates: </strong>Who does not love saving money? Enjoy competitive interest rates as low as 8.70% p.a., keeping your monthly payments low and leaving more cash in your pocket for other adventures.<br/><br/></li><li><strong>• Pre-qualification for a Metrobank Toyota Mastercard: </strong>Get more perks with a Metrobank Toyota Mastercard – including a 3% rebate on your fuel at select Petron stations nationwide, and 10% off on parts, accessories, and labor on Toyota. Pre-qualify through the promo and unlock exclusive benefits for your car and beyond.<br/><br/></li></ul><div style="margin:0cm;line-height:115%;background:white"><span style="color:#0D0D0D"><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/17159057217721715905717116.png" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><em>Photo source: </em><a href="https://www.facebook.com/metrobank"><em>Metrobank</em> </a></span></span></span></span></span></div><p>The 2024 Goals Made Real Promo is open to all qualified borrowers who will submit their complete car loan application documents on or before June 15, 2024.</p><p>For complete details on Metrobank&#x27;s car loan promo, visit their  <a href="https://www.metrobank.com.ph/promos/car-loan-goals-made-real-2024?utm_source=abscbnnews&amp;utm_medium=advertorial">website</a>. </p><div><em>References: </em> </div><div><em>1. </em><a href="https://www.primewayfcu.com/blog/things-to-know-before-applying-for-auto-loans"><em>Huckabay, K. (2023, February 15). 8 Things To Know Before Applying For Auto Loans.</em></a></div><div><em>2. </em><a href="https://www.familycu.com/factors-that-affect-an-auto-loan/"><em>(2023, October 19). Auto Loan 101: Factors to Consider. The Family Credit Union.</em></a></div>

<p>Discover the benefits of Metrobank's Goals Made Real car loan promo for first-time car buyers.</p>

Discover the benefits of Metrobank's Goals Made Real car loan promo for first-time car buyers.

Factors to consider before taking on a car loan

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Factors to consider before taking on a car loan

Metrobank

Published May 17, 2024 05:41 PM PHT

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Updated May 17, 2024 06:01 PM PHT

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