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The Letter of Intent for Car Loan is a crucial preliminary document in the Philippine vehicle financing process, typically used before initiating a formal loan application. This document serves as the first official communication between a prospective borrower and a financial institution, demonstrating serious intent to pursue vehicle financing. It includes essential information such as the proposed loan amount, vehicle details, basic borrower information, and intended loan terms. The document must comply with Philippine banking regulations, particularly the Truth in Lending Act and Consumer Protection laws, while setting the stage for the formal application process. While not legally binding, it helps financial institutions assess initial eligibility and begin preparing necessary documentation for the actual loan agreement.

1. Letter Date and Address Block: Includes current date, recipient's name, title, bank/financing institution name, and complete address

2. Subject Line: Clear indication that this is a Letter of Intent for Car Loan

3. Salutation: Formal greeting to the appropriate bank officer or department

4. Opening Paragraph: Statement of intent to apply for a car loan and brief introduction of the applicant

5. Vehicle Details: Specific information about the vehicle to be purchased including make, model, year, and price

6. Loan Details: Proposed loan amount, preferred term, and desired payment schedule

7. Personal Information: Key details about the applicant including employment status, income, and contact information

8. Supporting Documents Reference: List of attached or available documents to support the loan application

9. Closing Statement: Expression of interest in proceeding with the formal application process

10. Signature Block: Applicant's full name, signature, and contact details