car loan

[hominid]

i applied my autoloan sa dealer ng suzuki...and pinasa nila ito sa 3banks (PSbank/AMABank/Bpi)

kasi offer ng dealer (for the ALTO=398k) DP ko ay 100k and 9,310/month
yung LTO reg/Chattel at Comprehensive insurance ay included na sa 100k DP.

BPI = strict sa car loan. 3 years financial statement kailangan. Matagal process. Mababa sana ang rate.

PSBank = super lenient. Financial statement mo basta declare mo lang at no CPA signature na kailangan. Aprove in 1 hr. Check out their website. Ang dami nilang repo na sasakyan. Dyan ata talaga forte nila.

Parang magulo kasi nangyari sau. Baka pumatong pa un casa sa rates nung mag-aaprove na bank.

Dapat pa qoute ka sa casa, tapos hanap ka ng bank dala un qoute. Once approved, bank at casa na mag-uusap. Just pay the dp sa casa at ur monthly sa bank.

[serial_killer]

ganun ba...mukang mapapalaki nga monthly ko if sa dealer ko nagpahanap ng bank..ill try to go to many banks today baka sakali makamura ko.

pero pano kaya ito...2weeks palang ako sa bago ko work...accept kaya ito ng bank?(malaman ko din maya..hehe)

thanks..

[kane]

ako mga bossing...may Q..

i applied my autoloan sa dealer ng suzuki...and pinasa nila ito sa 3banks (PSbank/AMABank/Bpi)

kasi offer ng dealer (for the ALTO=398k) DP ko ay 100k and 9,310/month
yung LTO reg/Chattel at Comprehensive insurance ay included na sa 100k DP.

and ang freebies ay tint,matting,car cover at seat cover.

balak ko kasi gawin itong taxi kapag nakaipon nako ng 60k for the franchise.

ano pa ba mga unexpected FEES na babayaran ko?

or mas maganda if hanap ko ng ibang bank at dun ko apply ng car loan?

currently ay wala pako 1month sa new work ko and diko alam if maaprove ako kasi wala ko mabibigay na COE at payslips.
Meron lang ako ay mga remittance receipt from my mother&sister abroad,
enough na ba ito para maaprove ako?

kasi if sa bank ako mag loan...30% min DP...e 100k lang kaya ko kaya sa dealer ko nagpasa ng application.

tia

Hello.

May mga banks that offer 15%-20% downpayment. Mas okay kung sa bank ka dederecho kumuha ng loan because may cut ang dealer sa commission. Same thing with insurance. Derecho ka na sa insurance co.

Private message me if you want me to refer you to a bank.

[kane]

sir kane, comment lng po sa computation mo. Is it realistic to factor in the resale value of the car say after 5 yrs. you can sell your car for 500thou. so ang comparison is 950,000 vs 500,000. so mas malaki pa rin ng 450T kung nag-invest ka. assuming your investment is in the down side like 15% lng. so your 950T becomes 810T. so mas ok pa rin even factoring in the resale value.
Galing mo sir kane...hope to learn from you about investing...

hello. It doesn't really matter because in both cases, you own the car pa rin. Meaning:

Example: Value of Car is 500,000 after 5 years

case A (no loan): You have 0 + 500,000 = 500,000
case B (with loan): You have 950,000 + 500,000 = 1,450,000

I hope this helps.

[Skidrow]

up ko lang po..

may nagbalita po sa akin na kapag namiss mo ang isang payment eh i rerepossess na daw ang sasakyan? ganon ba ka stricto ang mga banko samantalang napa lenient ng approval nila. How true is this mga bossing? thanks

[1D4LV]

up ko lang po..

may nagbalita po sa akin na kapag namiss mo ang isang payment eh i rerepossess na daw ang sasakyan? ganon ba ka stricto ang mga banko samantalang napa lenient ng approval nila. How true is this mga bossing? thanks

hindi ata one month..imho, mga three months ata.

[tph]

OA naman kung one month.

ako i forgot to pay sa isang installment ko, mga 400 pesos ang multa.

[meledson]

up ko lang po..

may nagbalita po sa akin na kapag namiss mo ang isang payment eh i rerepossess na daw ang sasakyan? ganon ba ka stricto ang mga banko samantalang napa lenient ng approval nila. How true is this mga bossing? thanks

I think nakalagay iyan sa contract na napirmahan.

[Galactus]

Depende yan sa banko. Yung iba strict dun sa provisions of the Promissory Note, pero yung iba napapakiusapan naman.

Banks here cannot foreclose or repossess a vehicle without a court order, (or writ of replevin), unlike sa US na may repo agents. The problem lies kung gaano kabilis maglakad ng writ yung legal department niyo, and kung ma-convince niyo yung court sheriff to repossess the vehicle. Dito na yung mga padulas, otherwise walang mangyayari. This process can run longer than 3 months, kasi most banks IMO normally apply for a writ after 3 months nang delayed yung borrower.

[Hanren]

Depende yan sa banko. Yung iba strict dun sa provisions of the Promissory Note, pero yung iba napapakiusapan naman.

Banks here cannot foreclose or repossess a vehicle without a court order, (or writ of replevin), unlike sa US na may repo agents. The problem lies kung gaano kabilis maglakad ng writ yung legal department niyo, and kung ma-convince niyo yung court sheriff to repossess the vehicle. Dito na yung mga padulas, otherwise walang mangyayari. This process can run longer than 3 months, kasi most banks IMO normally apply for a writ after 3 months nang delayed yung borrower.

Dapat pala basahin mabuti yung mga terms and conditions sa pinipirmahang promisory note..

[meledson]

Dapat pala basahin mabuti yung mga terms and conditions sa pinipirmahang promisory note..

Yup. Dapat talaga na all contracts na pipirmahan ay dapat nabasa muna.

[jds]

Okay rin ba kung in-house financing ng car-loan (brand new)... i.e. almost the same yung interest rate ng car dealer at banks. Is it better to get in-house kung pareho lang, para mas convenient kasi yung dealer na rin ang kausap mo?

[tidus1203]

I think you should look for kung sino mas convenient bayaran.. You will only negotiate once, but you will pay it for years.

[mazingerZ]

Okay rin ba kung in-house financing ng car-loan (brand new)... i.e. almost the same yung interest rate ng car dealer at banks. Is it better to get in-house kung pareho lang, para mas convenient kasi yung dealer na rin ang kausap mo?

Bords pm me maybe I could give you a better deal. . . Have helped several of our tsikoteer friends already.

[ikaw_ngaba]

Okay rin ba kung in-house financing ng car-loan (brand new)... i.e. almost the same yung interest rate ng car dealer at banks. Is it better to get in-house kung pareho lang, para mas convenient kasi yung dealer na rin ang kausap mo?

bro,

check mo muna sino mas mababa ang interest saka yung ibang details, try mo BPI o Metrobank sila ang may mababa interest rate ng car loan sa pagkakaalam ko. saka pag sa bank para mo na rin cash ang bili mo kaya baka mas makaka discount ka (not sure on this).
konting tyaga wag mag madali pag-aralan mabuti

[jds]

Maraming salamat sa mga replies...

MazingerZ I pm'ed you.

[mizhelle]

ill vouch for mazingerZ .. he was able to help us on our car loan.. sobrang bait and daling kausap.. he will try to attend to your queries the soonest possible time.. he's in iloilo but he really made an effort contacting/assisting us and answering all our questions kahit nasa manila ako... gladly we was able to meet him nung pumunta siyang manila.. laking tulong niya in all aspect..

thanks luis!!!

[meateater]

I can also vouch for mazingerZ. Got my car april.
Easy to talk to and very accommodating.

[zenon]

Another fan here... with the assistance of mazingerZ I was able to acquired Kia Carens with it's old price.. until now I can't imagine that in just two days mazingerZ was able to take care of the loan process just before the deadline set by Columbian to increase Carens by 105K.. if not of his prompt action may be I was not able to get the old price..

and yes it's true, madaling kausap at mababang magbigay ng rates... saludo ako kay mazingerZ!

[Eismann]

Curious lang ako kung ano banko si MazingerZ...I was approved by BPI but still exploring other options.