Frequently Asked Questions

Eligibility & Requirements

 

Who can apply for a motorcycle loan with CCFI?

You can apply if you are: (a) a Filipino citizen aged 21 to 65 years old at loan maturity, (b) with a stable source of income for at least 6 months, and (c) residing or working within our serviceable areas in Luzon. Employed individuals, self-employed professionals, business owners, OFWs (with a local co-maker), and platform riders (Grab, Foodpanda, Lalamove, Angkas) are all welcome to apply.

What is the minimum income required?

The minimum monthly income depends on the motorcycle model and loan term you choose. As a general guide, your monthly amortization should not exceed 30–40% of your monthly income. For a typical ₱80,000 motorcycle at 24 months, a minimum income of around ₱15,000 is usually required. Use our online calculator to check what you can afford.

What documents do I need to submit?

For employed applicants:

  • 1 valid government-issued ID (UMID, Driver’s License, Passport, PhilSys, or Postal ID)
  • Latest 1 month’s payslip OR Certificate of Employment with compensation
  • Proof of billing (utility bill in your name or parents’ name)

For self-employed / business owners:

  • 1 valid government-issued ID
  • DTI or Mayor’s Permit, OR latest ITR, OR bank statements (last 3 months)
  • Proof of billing

For platform riders (Grab, Foodpanda, etc.):

  • 1 valid government-issued ID
  • Screenshot of rider app showing earnings (last 2 months)
  • Proof of billing

Can OFWs apply for a motorcycle loan?

Yes. OFWs can apply with a local co-maker (usually a spouse, parent, or sibling with stable income in the Philippines). You’ll need to submit your employment contract, latest remittance records, and the co-maker’s standard documents.

Do I need a co-maker?

A co-maker is not always required but may be requested if you are below 25 years old, have less than 6 months at your current job, or are applying for a higher-value unit relative to your income.

Can I apply if I have no credit history?

Yes. CCFI evaluates applications based on your current income stability and capacity to pay — not just your credit history. Many of our customers are first-time borrowers.

Loan Terms & Pricing

 

How much down payment do I need?

The minimum down payment is 15% of the motorcycle’s SRP. Higher down payments (20%, 30%, or more) reduce your monthly amortization and total interest paid. We recommend putting down as much as you comfortably can.

How much can I borrow?

You can finance up to 85% of the motorcycle’s SRP. For example, if the unit costs ₱100,000, you can loan up to ₱85,000 with a ₱15,000 down payment.

What loan terms are available?

We offer flexible terms from 12 to 36 months. Shorter terms mean higher monthly payments but lower total interest. Longer terms mean lower monthly payments but higher total interest. Choose what fits your budget.

How is the monthly amortization computed?

Monthly amortization depends on the loan amount, interest rate, and term. Use the calculator on our homepage to see exact figures. For transparency, we disclose the full breakdown — principal, interest, and any fees — in the disclosure statement before you sign.

Are there any hidden fees?

No. All fees are disclosed upfront in the loan disclosure statement, as required by SEC and BSP regulations. These typically include documentary stamp tax, chattel mortgage fee, and processing fee. There are no “surprise” charges after you sign.

Application Process

 

How do I apply?

You have three options:

  1. Online — Fill out the form on our website (5 minutes).
  2. Messenger / Viber — Message us directly; an agent will guide you.
  3. Partner dealer — Visit any of our accredited dealerships; the dealer staff will assist you.

How long does approval take?

Pre-approval is as fast as 24 hours for complete applications. Final approval and release typically take 1 to 3 working days, depending on how quickly you submit your documents and complete verification.

Can I apply online if I live far from a dealer?

Yes. We service Luzon-wide. You can start your application online, submit documents digitally, and we’ll coordinate release through the nearest accredited dealer in your area.

What if my application is not approved?

If your application is not approved, our agent will explain the reason. Common fixes include adding a co-maker, choosing a lower-priced unit, or increasing your down payment. You can reapply after 3 months or apply for a different unit.

Payments & After-Sales

 

How do I pay my monthly amortization?

You can pay through multiple convenient channels: GCash — direct payment via our biller ECPay — at any ECPay outlet (7-Eleven, etc.) Cebuana Lhuillier branches — nationwide, over 2,500 locations Bank transfer — to our partner banks Auto-debit — set up one-time for monthly deductions

What happens if I miss a payment?

Late payments incur a penalty fee and may affect future credit applications. If you anticipate difficulty paying, contact us immediately — we have restructuring options for qualified borrowers. Don’t wait until you’re several months behind.

Can I pay off my loan early?

Yes. Early settlement is allowed, and in many cases you can save on interest. Contact our office for your exact settlement amount.

Who owns the motorcycle during the loan period?

The motorcycle is registered in your name, but CCFI holds a chattel mortgage on the unit until the loan is fully paid. Once you settle the loan, we release the original OR/CR to you and cancel the mortgage.

What if my motorcycle gets stolen or damaged?

We require comprehensive insurance on all financed units. If your motorcycle is stolen or totaled, the insurance payout settles the remaining balance. This protects both you and CCFI.