
Introduction
M Lhuillier Financial Services offers a convenient and accessible car loan program for individuals who dream of owning a car. Nowadays, the process of owning a car has been a lot more simpler. Whether you’re looking for financial flexibility or aiming to fulfill your dream of driving your own vehicle, M Lhuillier has you covered. Below is a quick overview of your path to car ownership:
Two Distinct Options
- Car Collateral Loan: If you need quick cash and own a car, the Car Collateral Loan is an excellent choice. Here’s how it works:
- Eligibility: Locally employed individuals, OFWs, self-employed, and pensioners.
- Acceptable Units: Second-hand cars (except Korean, Chinese, and Indian brands).
- Year Model: 2012 and up (not exceeding 10 years upon loan maturity).
- Loan Amount: Up to 70% of the appraised value of the car.
- Term: Maximum of 36 months.
- Payment: Conveniently disburse through the M Lhuillier branch.
- Collateral: Original OR/CR (Official Receipt and Certificate of Registration).
- Re-availment/Reloan: If the outstanding balance is below six months, you can re-avail the loan after re-appraisal.
- Car Financing: For those who want to purchase a brand-new or second-hand car, M Lhuillier offers car financing. Here are the key details:
- Eligibility: Similar to the Car Collateral Loan.
- Acceptable Units: New or second-hand cars (excluding Korean, Chinese, and Indian brands).
- Year Model: No specific restrictions.
- Loan Amount: Varies based on the car’s price.
- Term: Flexible repayment options.
- Payment: Directly to the car dealer.
- Collateral: The car itself serves as collateral.
How to Avail
- Submit Application: Fill out the application form and provide photocopies of the car’s OR/CR.
- Approval: Wait for approval.
- Cash Disbursement: Once approved, receive your cash or proceed with car financing.
Conclusion
M Lhuillier’s Car Loan program provides a two-way path to car ownership. Whether you need cash urgently or want to drive your dream car, M Lhuillier has the solution for you. Visit their website1 for more information and start your journey towards car ownership today!
(Source: M Lhuillier Financial Services)2
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