Bank Interest Rates for Auto Loans - post Wuhan Virus

[StockEngine]

who wants to compute this interest rate..(metrobank)

[ronki]

Sharing my experience.

I asked for bank loans for a Montero this August. Discounted price: 1,552,000

In terms of convenience: (I already know these bank managers beforehand)
RCBC - 1 day approval, even with incomplete documents.
EWB - 1 week approval, even with incomplete documents.
MetroBank - 2 weeks++ approval, with CI, multiple documents required, even a call from our HR. Even though I already provided my COE.

In terms of interest rates at 40% DP:
MetroBank - 22,700
EWB - 23,200
RCBC - 23,700

And I'll say, the 48k total savings for Metrobank (compared to RCBC) is well worth the hassle. Also, I only used VIBER to message the managers.

I only came to Metrobank when everything was ready, opened an account, signed the docs, paid the other fees and PO is released.

[StockEngine]

Sharing my experience.

I asked for bank loans for a Montero this August. Discounted price: 1,552,000

In terms of convenience: (I already know these bank managers beforehand)
RCBC - 1 day approval, even with incomplete documents.
EWB - 1 week approval, even with incomplete documents.
MetroBank - 2 weeks++ approval, with CI, multiple documents required, even a call from our HR. Even though I already provided my COE.

In terms of interest rates at 40% DP:
MetroBank - 22,700
EWB - 23,200
RCBC - 23,700

And I'll say, the 48k total savings for Metrobank (compared to RCBC) is well worth the hassle. Also, I only used VIBER to message the managers.

I only came to Metrobank when everything was ready, opened an account, signed the docs, paid the other fees and PO is released.

I'm getting 17% for 48mo on a sub 1M loan, from Metrobank. Amazing shyt LOL

[carxynogen]

who wants to compute this interest rate..(metrobank)

The interest rate is posted on this URL: Metrobank Car Loan

Ang hindi ko lang sure is if mas mababa paba dyan ang current interest rate ngayong pandemic.

[carxynogen]

I'm getting 17% for 48mo on a sub 1M loan, from Metrobank. Amazing shyt LOL

Im wondering if same interest paba rin ang offer nila ngayong pandemic.
Bumaba na rate ng housing loan kasi, expecting the same for car loan but I might be wrong.

[boybi]

who wants to compute this interest rate..(metrobank)

22% add on interest rate

[StockEngine]

The interest rate is posted on this URL: Metrobank Car Loan

Ang hindi ko lang sure is if mas mababa paba dyan ang current interest rate ngayong pandemic.

yes I mentioned Metrobank. They have somehow adjusted their rates compared to other banks.

BPI is asking 11296 which comparatively high.

[StockEngine]

22% add on interest rate

thanks. mukhang masaya ang car shoppers.

[dr. d]

who wants to compute this interest rate..(metrobank)

that's about 4.5 % per annum or 22.3 % in 5 years, for a 526,400 peso loan.

but this does not include the money that the holder of the 20 % down payment of 131,600 pesos, can generate from it.

the deposit + the monthlies total about 774,000 pesos in all.

[carxynogen]

22% rate for 5 yrs was already the rate of Metrobank when I inquired last December 2019.
Maybe may makapag confirm if may changes ba offer ni metrobank during this pandemic.
Ang confirmed ko lang is ang housing loan is nagbabaan na ang rates.