Help: Selling my car assume balance

[playplugg]

Mahirap na po ibenta yan kasi depreciated na yung sasakyan,

saka mahirap din naman isoli yung sasakyan dahil magkakaroon naman ng record sa bank.

Not sure kung applicable din ba sa sasakyan?!

hanap kayo ng finance agency/other bank na pwede kayo payagan na mag-refinance at mas babang montly amortization, pero yun lang hahaba na talaga yung duration ng payment, at yun ang magbabayad dun po sa current in-house/bank na pinagbabayaran nyo.

at dun naman kayo ngayon magbabayad sa nahanap na finance agency/other bank,

kung si "bank a" ang current na binabayaran, eto naman si "bank b", babayaran ng buo yung sasakyan nyo, (remaining balance)

at doon na po kayo sa "bank b" magbabayad ng monthly amortization, na mas mababa.

[[archie]]

^^ It's just going to prolong the agony. May kumuha ng assume balance, grab it kung wala default na lang.

To refinance means more interest, longer payments and with the car getting old, maintenance and repair cost.

[bugoys]

Nalilito din ako dito.

Kapag assume balance ba ico continue niya yung payment ng 1st owner? Luging lugi ata yung buyer based on that computation nga na P487,500 to assume plus cash payment pa for the 1st owner???

Exactly! Dapat ata si seller pa ang magbigay kay buyer ng "pampalubag loob". Hahahah.

Kidding aside TS, ang hirap ng situation mo. But think about what I said sa "pampalubag loob". Ano bang proper term dun?

Example: Just to sell the car, entice your buyer say with a 20k upfront payment (whatever is "reasonable" because the total balance per se is already high to begin with), and he/she will continue the balance. I think its a win-win situation for both of you.

1. Buyer gets to pay only 12,500 monthly w/o shelling a lot of cash when buying the same unit (cash) or bank loan for a used car (dp). All they got to do is issue pdc's as stated sa previous post.

2. TS got rid of his/her burden, and just move forward and learned a lesson re finances.

Because honestly, I won't buy a car na sobrang taas sa bracket 480ish thousand, when I can get a better deal on a much lower price, given the same condition. Sa ibang seller, you can still haggle, pero in your case fix na.

Hope you don't take my 2 cents against me. It's a desperate move, but you sounded like one. I think its a thought to ponder.

[playplugg]

^^ It's just going to prolong the agony. May kumuha ng assume balance, grab it kung wala default na lang.

To refinance means more interest, longer payments and with the car getting old, maintenance and repair cost.

Agree for that Sir [archie],

TS will be the last option to save the reputation record and same time yung car itself, kasi pinaghirapan din naman ito bilhin, sadly, ang sasakyan po kasi is a depreciated thing kaya mahirap po talaga lalo pag nasasagad po, unlike sa property, may appreciation value + in-case naman na masasagad talaga, right away pwede ibenta + yung resale value, may tubo na agad..

kung meron man si TS na certain friend/buyer na willing saluhin yung payment (assume balance), grab na agad, na bayaran yung full remaining balance, then bahala na sila kung i-transfer ba yung ownership dun sa certain friend/buyer, or merong silang agreement na babayaran na lang by monthly kung sino po yung sasalo...

and the last case at talagang no choice, "repossessed" talaga ang mangyayari...


Hindi naman po masama mag "loan" as long as po na talagang pinag-aralan po mabuti ang cash-flow at well planned, at yung dapat i-sustain na budget every month para mabayaran po ang monthly amortization, and other expenses, no problem po yun..

Saka pag good payer naman ang certain person under the loan at nagbabayad lagi on time or advance,

hindi na po mahirap mag-apply ng loan either sasakyan or property and some emergency needs, kasi maganda po ang record and the same time, ang bilis po ng approval (credit line)....


kaya po kung papasok po sa certain loan agreement, yung principal, dapat meron po na co-maker, in-case na di kaya bayaran ni principal, si co-maker ang sasalo...

[dr. d]

your problem is, the balance is still too large..
you have to sell it at a loss.. as was already mentioned above, no one will buy a used car at brand-new price.
at 487K, i can buy a comparable car with no strings attached.
even if you say, "bigay ko na sayo ang kotse.. ikaw na ang magpatuloy ng installment", baka wala pang kumagat agad..

[xninjax]

try mo pa rin post sa olx for assume balance.. AFAIK meron pa rin mag-aassume nyan.. eto ung mga di ma-approve sa mga financing/loans as per my experience

[TopEngine]

nakakagulat ka naman TS. kung 2012 pa ito kinuha, naka 2 taon ka na naghuhulog, at 39 months pa to full pay. ilan years to pay ito?

yung P487,500 is not the assumed balance as this include Interest within your M.A. Most of the Interest kasi binayaran mo sa 1st 2 years dahil compounded yan. Siguro ang assumed balance nito nasa P450K pa, parang P37,500 pa ang Interest.

[rafmac]

Correction sa response above. You won't get a hit sa credit rating mo if you voluntarily surrender your car to the bank. Yes masakit kasi di mo ma recover yung ginastos mo but at least ok pa your credit rating and if you need to take out a loan in the future hindi ka malalagay sa blacklist


Posted via Tsikot Mobile App

[Syuryuken]

nakakagulat ka naman TS. kung 2012 pa ito kinuha, naka 2 taon ka na naghuhulog, at 39 months pa to full pay. ilan years to pay ito?

yung P487,500 is not the assumed balance as this include Interest within your M.A. Most of the Interest kasi binayaran mo sa 1st 2 years dahil compounded yan. Siguro ang assumed balance nito nasa P450K pa, parang P37,500 pa ang Interest.

60 months yan

[jick.cejoco]

It goes like this:
Car for sale 1,234,567 plus take over payments. The assume balance which had been tolerated does not sound right


Posted through phlpost.gov.ph