The Covenant Car Company, Inc. (TCCCI) has officially taken over the distributorship of South Korean car brand KG Mobility, formerly known as SsangYong. The company announced in an October 2023 press statement that the agreement between the two firms was formalized in the middle of the third quarter of 2023, leading to the establishment of KG Mobility Philippines. "We are optimistic that the local motoring public will respond positively to our portfolio of product offerings, and we are likewise
SsangYong Motor has a new name, which is easy to pronounce and remember. And hopefully, it won't be mistaken as a Chinese brand ever again. The South Korean car company has announced that it will now be called KG Mobility as it takes on the name of its new owners. Company chairman Kwak Jea-sun initially announced that the company would adopt the new name of KG SsangYong Mobility last January 2023. This was recently confirmed in a shareholder’s meeting this March 22nd. However, the name SsangYong

Ssangyong Monthly Payment FAQs

What are the down payment, interest rate, and term for buying a Ssangyong car by installment?

The down payment, interest rate, and loan term of car loans in the Philippines may vary depending on the bank and the type of vehicle. Generally, the down payment ratio ranges from 15% to 50%, the interest rate ranges from 5.54% to 30.3%, and the loan term options are from 12 to 60 months. If you want to buy a used car, you may encounter higher interest rates, and the sum of the car's age and the loan term cannot exceed 11 years.

How much down payment, interest rate, and term should I choose to buy a Ssangyong car in the Philippines?

If you want to buy a Ssangyong car in the Philippines, you can choose a 20% down payment, a 10% interest rate, and a 36-month term, which is a balanced and reasonable option.