In the modern day of smartphones, internet and easy access to the people’s needs and wants, having a personal car that can be used to travel safely to places has become a necessity for most Filipinos.
Tagum Cooperative recognizes this need and has launched its most awaited and most requested Car Loan Product with affordable loan rates and easy application process. Official launching was held on August 14, 2021 through Zoom and Facebook Live Platform.
Tagum Cooperative Chairperson, Dir. Noel O. Quidilla excitedly announces the good news to the members who may now get to enjoy their new vehicles without having to worry about their protection. “This is such a rewarding day for all of us here in Tagum Cooperative as we are set to launch this new product. TC will set your dreams in motion, as our members can now drive the car of their dreams with an affordable payment plan.”
WHO CAN AVAIL?
Regular Members aged 21-55 years old may avail of the Car Loan with a Share capital of at least P25,000 to P50,000. Applicant Members are also required to be at least two (2) years employed as a permanent/regular employee or if an entrepreneur, at least two (2) profitable years of operation. Car amortization must also not be more than 40% of the net disposable income, and no delinquent loans in TC. For pre-owned vehicles, it must not be more than 5 years from the date of purchase.
LOAN TERM
| BRAND NEW CAR | PRE OWNED/SURPLUS |
| Up to 60 months | Up to 36 months |
LOANABLE AMOUNT
| BRAND NEW CAR | PRE OWNED/SURPLUS |
| Up to 80% of the unit price | Up to 60% of the appraised value |
LOAN INTEREST RATE
| BRAND NEW CAR | PRE OWNED/SURPLUS |
| 7.5 % per annum or 0.625% per month | 12% per annum or 1% per month |
Hereunder are the steps to apply for a car loan:
1 – Choose your car and secure quotation from your preferred Car Dealer
2 – Present quotation to Tagum Coop Loans Department for computation
3 – Submit application form
4 – Loan verification and approval
5 – Purchase of vehicle to car dealer
“Tagum Cooperative being an A-1 Competitive Choice for Excellence in Service and Soundness (ACCESS) and Finance Organizations achieving Certified Credit Union Standards (FOCCUS) branded Cooperative is committed to continuously provide excellent customer service to members through its innovative and tailored fit products and services. Ensuring Tagum cooperative’s sustainability is a two way process of efforts and dedication shown by TC Officers, Management and Staff should be parallel to TC’s loyalty through TC car plan loan.” CEO Juris D. Perez states in her special message.
Aside from the newest Car Loan Products, members may also enjoy existing vehicle insurance products through TC’s Member Benefit and Assistance Business Line. For more inquiries, members may visit any Tagum Cooperative Business Centers near them. Level up with the vehicle of your dreams level up with your loan experience with Tagum Cooperative.