Guides & Tips
Car Loan Requirements: Employed, Business Owner and OFW
By Richard Cuagdan, Car Sales Executive ·
Each bank has its own checklist, and the final list is always the bank's call. That said, the documents below cover what is usually requested. Having them ready before you apply is the simplest way to speed up approval.
For everyone
- Two valid government-issued IDs with matching signatures
- Proof of billing in your name (electricity, water, internet) showing your current address
- Marriage certificate, if married (the spouse is often included in the application)
- Completed bank application form
If you are employed
- Certificate of employment stating your position, length of service and compensation
- Latest payslips (usually the last one to three months)
- Latest ITR or BIR Form 2316
If you own a business
- DTI registration (sole proprietors) or SEC registration and articles (corporations and partnerships)
- Mayor's or business permit
- Bank statements for the past several months
- ITR and audited or in-house financial statements
- A short list of major suppliers or clients can help the bank verify the business
If you are an OFW
- Passport and valid work visa or permit
- Employment contract or certificate of employment from your employer abroad
- Recent payslips or remittance records
- Special Power of Attorney (SPA) if someone in the Philippines will sign on your behalf
- IDs and proof of billing of your co-borrower or attorney-in-fact
Read more in the OFW car loan guide.
Practical tips
- Make sure names, addresses and signatures are consistent across all documents.
- Clear photos or scans are fine for the initial evaluation; originals may be needed at signing.
- Tell me upfront about any special situation (new job, recently started business). It's easier to plan around than to fix later.
Ready to start? See the application steps.