BPI Family said its Auto Loan program makes car-ownership more affordable as it offers a one-year comprehensive insurance with Acts of Nature coverage free of charge. The promo, which runs until June 21, drastically reduces the initial cash-out (down payment, chattel mortgage fee, insurance cost and registration charges) of customers by eliminating the significant costs related to car insurance, according to BPI Family.
It explained that a comprehensive insurance coverage would amount to about 3 percent of the vehicle’s cost, and that this is a mandatory requirement of financial institutions when acquiring a vehicle through credit.
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