Buying an automobile/vehicle is a goal that can usually be found on the list of many Filipinos who are working abroad. For personal use, owning a vehicle brings lots of convenience. It can also be a great investment because it can be used for businesses that need to deliver bulk orders.

However what hinder many overseas Filipino workers (OFWs) from purchasing a vehicle is the considerably large amounts of money that it requires. One option is turning to banks and financing companies that offer auto loans. Do you know that there is an auto loan that is especially made for OFWs - the Mitsubishi-UnionBank Global Pinoy Auto Asenso Program.

What is Global Pinoy Auto Asenso?
Global Pinoy Auto Asenso is a loan program of Mitsubishi Motors Philippines in partnership with UnionBank of the Philippines.  The program was created exclusively for Filipinos working overseas.  It helps in making the Overseas Filipinos' dream of owning a Mitsubishi vehicle possible in a very convenient way.

Who may avail of this program?
Filipinos who have been working overseas for at least 2 years are entitled for this program.

How do I apply for Pinoy Auto Asenso?
Simply fill out the auto loan online application form. A UnionBank account officer will coordinate with you as soon as they receive your application.

What are the requirements if I am interested to apply?
The initial requirements for application are:

1.    Completely filled out application form

2.    Certificate of Employment (COE) indicating position and salary

3.    Three (3) months latest proof of remittance to a beneficiary in the Philippines

4.    Auto loan application of qualified co-maker. This can be your spouse or an immediate family member.

How long will it take to process my application?
We will start processing your request immediately upon receipt of your application. On the average, results will be available within the day for Metro Manila-based applicants and 3-5 days for those outside of Metro Manila.

How will I know the result of my application?
You will receive an email notification & phone call from a UnionBank account officer.

How will I send my payment?
There are two ways to send payment:

·         Automatic debit from your UnionBank account

·         Post-dated checks (PDC)

Know more about Mitsubishi and Union Bank Auto Loan for OFWs.

Have you availed or currently using this OFW product? Let others know your experience by leaving a comment below.