buying bank repossessed cars

**jay_c** · August 27th, 2009 09:58 AM

Tanong lang, when buying bank repossessed cars, may taxes pa bang babayaran like capital gains tax similar sa pagbili ng foreclosed properties? I am seriously considering this kasi napansin ko maraming lumalabas na auction announcements lately from BPI, Unionbank, RCBC Savings Bank, etc. tapos a friend of mine tried to buy and sell bank repo cars at kumita naman siya.

Last Sunday lang sa Manila Bulletin dalawang auction announcements ang nakita ko from BPI and RCBC.

**Altis6453** · August 27th, 2009 10:23 AM

Originally Posted by jay_c

Tanong lang, when buying bank repossessed cars, may taxes pa bang babayaran like capital gains tax similar sa pagbili ng foreclosed properties? I am seriously considering this kasi napansin ko maraming lumalabas na auction announcements lately from BPI, Unionbank, RCBC Savings Bank, etc. tapos a friend of mine tried to buy and sell bank repo cars at kumita naman siya.

Last Sunday lang sa Manila Bulletin dalawang auction announcements ang nakita ko from BPI and RCBC.

No capital gains tax. But, I think there is VAT due on the sale of the vehicle, even if it is repossessed.

**jay_c** · August 28th, 2009 01:43 PM

Originally Posted by Altis6453

No capital gains tax. But, I think there is VAT due on the sale of the vehicle, even if it is repossessed.

^Thanks for the info!

By the way, di ba nga ang common concern is "as-is where is" yung mga repo na kotse. What if yung natipuhan mo is still within the warranty period(example, 3 years ang warranty pero 2 years pa lang narepossess na), valid pa kaya yung warranty kahit na narepossess na nga yung car?

Naisip ko kasi na jackpot pag nakabili ka ng repo tapos may valid pa na warranty, as long as hindi naman winasak ng previous owner/hindi hot car/maayos according to a trusted mechanic/etc. right?!

**Pro Staff** · November 21st, 2005 04:47 PM

sa BPI nga po pala ito

**lakay77** · November 24th, 2005 06:14 AM

Originally Posted by Pro Staff

sa BPI nga po pala ito

salamat.merong bang bago?he he he

**lakay77** · November 22nd, 2005 07:08 AM

ako interesado pwedeng pa email?j2sev*yahoo.com thanks

**ozcity** · November 22nd, 2005 08:03 AM

i know someone from BPI din....minsan nga daw meron na talagang parokyano sa mga repo cars nila..nasa financing kasi sya.....

300+ daw ang linya ng fortuner sa kanila

**dove** · November 29th, 2005 06:12 PM

ako den papa, plis. Tnx. Dove

**Sayara** · November 28th, 2007 01:17 AM

Hello guys,

Meron ba kayong updated list ng mga repossessed cars (any bank) pahingi naman ng kopya? Thanks (jsbd_2003*yahoo.com)

**DonT** · November 28th, 2007 02:41 AM

I just noticed...di ba ang mga banks are only financing cars which are not older than 5 yrs..bakit ang daming vehicles na lampas 5 years and sometimes up to 10 yrs old na..Anu yun..matagal nang walang bumibili?