ORCR Sangla - Without Taking Your Car

What is ORCR Sangla All About?

The most applied for type of collateral loan with us, ORCR Sangla is also the most conveniently acceptable type of car collateral loan offer today. This is because the collateral itself is not being impounded or taken by the lender. Another name with which this secured loan product is called is the "car loan without taking car". The reason for which is because the cash loan borrower still gets to use his or her vehicle and surrenders only the original copy of the OR / CR to the lending company as the sole collateral with a corresponding loan contract.

The lending company in turn will have the OR CR applied for mortgage to the Registry of Deeds and submits the new ORCR copy with notation of encumbrance to the Land Transportation Office (LTO). This system is where the idea of securing that the specified auto collateral is pawned to the lender. That the vehicle under pawn contract is legally bound under its lending contract and policy which is subject to lending and legal laws in the Philippines as governed by the BSP (Banko Sentral ng Pilipinas) (Central Bank of the Philippines).

Who Is Allowed to Borrow Money Thru ORCR Sangla?

Technically and legally, anybody with a fully owned or fully paid vehicle can loan cash and get money out of this secured loan product in the Philippines. 


Today, lending companies (excluding banks) are now allowing Filipinos who own an auto and holds a deed of sale as 2nd, 3rd, 4th owner or with multiple deed of sale to loan their car in exchange of getting cash. The only premise is that upon checking the ownership of the unit with the LTO, it should be confirmed thru ORCR. Furthermore, with such car ownership status must understand that before the approved loan amount can be claimed, the ORCR must first be transferred under the current owner or the borrower's name. With this, owner must be ready for a very long process from verification to transfer of ownership as compared to a clean 1st owned vehicle.

Another important improvement of the ORCR loan is that today, Pinoys with mortgaged cars are now allowed to loan their vehicle. These are units that are still under payment program with banks or private financing companies.  This is called the car loan takeout program or refinancing (discussed further here). A requirement in this type of collateral loan is that the unit must be paid at least 70% - 80% to qualify.


Otherwise, if your car is with deed of sale or still under mortgage, we can endorse you to a private financier of ours wherein it only takes 1 day guaranteed to get your cash loan. Ask us how!

Documentary Requirements:

  • Clear copy of OR and CR

  • 2 valid IDs of borrower or car owner (or he whose name appears on the deed of sale for 2nd, 3rd... owners)

  • 3 months latest proof of income (see and fill up our form for choices)

  • Latest electric or water bill (even if not under your name)

  • Other documents may be needed depending on borrower income & status and car ownership​