How do you buy a car as an OFW in the Philippines?
- Find a co-maker
- Gather the required documents
- Do research on your preferred car
- Choose a financing option
- Arrange for registration and insurance
Overview
- This guide helps OFWs navigate buying a car in the Philippines with confidence. It covers essential steps like finding a trusted co-maker and arranging necessary documents for a smooth and easy approval process.
- Following these practical tips ensures families benefit from safe, comfortable rides while abroad.
- Chevrolet provides reliable, family-friendly vehicles and expert guidance to make the process seamless, helping OFWs give their loved ones the convenience and peace of mind they deserve at home.
For many Overseas Filipino Workers (OFWs), buying a car back home is a great way to provide daily comfort for their loved ones. But navigating this process from abroad can feel challenging, and even small missteps can lead to big regrets. That’s why having a clear, reliable guide is essential for making informed buying decisions.
This OFW’s guide for buying a car in the Philippines will help simplify every step for a secure purchase. As a trusted car dealership, Chevrolet combines industry expertise with family-focused vehicles you can rely on for years to come. Read on to bring home a car you and your family can depend on.
Find a Co-Maker
One of the first things OFWs need to know is that you cannot buy a car without a co-maker. This is a person, usually a trusted family member, who co-signs the loan and agrees to cover payments if you are unable to do so while abroad. Their presence assures banks and dealerships that payments will continue even when you’re away.
Approval processes and peace of mind all rely on proper compliance, so make sure you discuss the purchase with someone responsible. Most OFWs choose a spouse, parent, or sibling as their co-maker to help manage the costs more effectively. They become responsible for handling documents and stepping in for payments at home when needed.
Gather the Required Documents
Before you or your family visits the dealership, you need to secure specific documents to verify your identity, employment, and financial capacity. Preparing these ahead of time prevents delays and makes the application process less taxing for both you and the person purchasing the vehicle on your behalf.
Some of the required documents include:
- Accomplished application form
- Both the borrower and the co-maker’s valid government-issued IDs (Driver’s License, Passport, etc.)
- Latest proof of billing
- Three months’ worth of payslips or remittance
- Latest employment contract
- Latest crew contract (For seafarers)
Do Research on Your Preferred Car
Before committing to a vehicle, spend time researching options that match your family’s lifestyle. Most decisions are often based on practicality. Your loved ones back home might need a better road wagon to take kids to school or do errands. Maybe they like to go on long weekend trips. Knowing your priorities helps narrow down the best choices for your family.
Consider fuel efficiency, maintenance costs, and safety features that best suit your loved ones’ needs. You can also account for the car’s size depending on who’ll be left at home to drive it. If your spouse regularly makes rounds in the city, they might prefer a compact crossover with high fuel efficiency; If the family often travels as a big group, a Sports Utility Vehicle (SUV) might be a better fit.
Choose a Financing Option
Select the right financial setup to maintain steady payments and easy coordination. If the budget allows for it, you can pay in full. Some banks and reputable dealerships offer plans and promos tailored specifically for Filipinos working internationally, making the approval process much simpler. Looking into these programs increases your chances of securing both better support and favorable payment terms.
Expect requirements like minimum monthly income and at least two years of continuous employment abroad. You may choose between bank financing or in-house dealership financing, depending on which one fits your budget better.
With the right plan, you can create a manageable payment schedule for both you and your co-maker.
Arrange for Registration and Insurance
Once the loan is approved, the next step is registering the car and securing insurance. Good news for OFWs: many dealers offer free LTO registration, especially when you choose an all-in downpayment package. Taking advantage of this offering saves your family time and ensures you’ll have extra resources for other priorities at home.
Don’t forget to secure comprehensive insurance, ideally with Acts of Nature coverage, to safeguard your asset from common natural disasters in the Philippines. This ensures that both your family and vehicle are protected during unexpected calamities.
Can You Bring the Car Abroad?
Yes, OFWs can bring their cars from the Philippines abroad. However, it is subject to payment of duties and specific conditions that apply. It can be quite costly, and it’s also an option limited to certain individuals, like returning residents and dual citizens.
It’s often best to leave the vehicle with your family, who can use it for emergencies or daily convenience.
Buy a Car from Chevrolet
Chevrolet makes car ownership easy for international Filipino workers by offering reliable, family-friendly vehicles equipped with modern safety and comfort features. Our lineup includes options designed to suit different household needs.
Beyond quality four-wheelers, we also offer expert guidance to help OFWs make informed decisions. With flexible financing options and excellent customer support, we ensure your peace of mind in making a critical investment away from home.
Our options include:
- Chevrolet Tahoe
- Chevrolet Suburban
- Chevrolet Trax
- Chevrolet Trailblazer
- Chevrolet Tracker
- Chevrolet Captiva
- Chevrolet Groove
Key Takeaway
Following this OFW’s guide for buying a car in the Philippines makes purchasing vehicles from outside the country much more manageable. With the right steps, you can secure a reliable car for your loved ones back home.
Give your family the gift of convenience with Chevrolet. Contact us today to explore vehicles made to support your loved ones, wherever in the world you may be.
