Financial needs can arise at any stage of life — whether for business expansion, tuition, medical emergencies, travel, or home improvements. Recognizing this, EastWest introduces EastWest AutoCash, a refinancing solution that allows clients to unlock the value of their vehicle without surrendering it.
EastWest AutoCash enables car owners to secure a loan using their vehicle as collateral, converting equity into immediate funds while retaining full use of their car.
A Practical Way to Access Immediate Funds
With EastWest AutoCash, clients may borrow up to 70% of their vehicle’s appraised value, with flexible loan terms of up to 48 months.
For loans availed at 50% Loan-to-Value (LTV), clients may enjoy a special interest rate of 0.68% per month, among the most competitive refinancing offers in the market.
Regular refinancing loans are subject to a standard rate of 0.88% per month.
The loan-to-value (LTV) ratio compares the loan amount to the appraised value of the vehicle collateral. For example, if a vehicle is appraised at ₱500,000 and the loan amount is ₱250,000, the LTV is 50%.
Designed for Both Existing and New Clients
EastWest AutoCash is available to both existing EastWest clients and new clients, particularly current car owners seeking funds for business growth, education, medical expenses, emergencies, or personal needs.
By opening access to both existing and new clients, EastWest aims to provide practical financing solutions that align with real-life financial goals.
Eligibility Requirements
To qualify, the vehicle used as collateral must:
- Be registered in the name of the client
- Be not more than 10 years old
- If still under encumbrance, the loan amount must exceed the remaining loan balance. Loan proceeds will be released net of the remaining balance.
Required documentation includes:
- Photos of the vehicle (interior, exterior, odometer, latest OR/CR)
- Two valid government-issued IDs
- Copy of latest OR/CR
- Latest electric and water bill (or additional proof of residence if not in borrower’s name)
- TIN (Tax Identification Number)
- Proof of income:
- Latest 3 months’ payslips (if employed)
- Business permit (if self-employed)
- Latest 3 months’ proof of remittance (if remittance-based income)
Applications remain subject to credit evaluation under existing EastWest credit policies and procedures.
Empowering Financial Flexibility
According to EastWest CEO Jerry G. Ngo, AutoCash reflects the bank’s commitment to providing accessible and practical financing solutions.
“EastWest AutoCash gives customers a smart way to access funds using an asset they already own — without disrupting their daily mobility. It’s about helping our clients move forward financially while continuing to move forward in life,” Ngo said.
Turn Equity Into Opportunity
Whether for expanding a small business, supporting education goals, covering urgent expenses, or funding personal milestones, EastWest AutoCash offers a straightforward way to convert vehicle equity into working capital — without letting go of the wheel.
To learn more or apply, visit:
https://www.eastwestbanker.com/pages/car-to-cash-autocash