Quote Originally Posted by Linkk View Post
Still have few questions po.
1.What other fees that I need to pay aside from chattel mortgage, insurance and lto registration?
2.After submitting the requirements and have been approved, what’s next?
3.Is it me who will look for the dealer and get the car that I want or will the bank take care of everything?
4.How does the bank normally handle any freebies or discount from the dealer?
5What documents will I get from the dealer/bank eg. Photocopies or original copies of OR/CR, etc.
6.Will they deliver the car to my place or should I pick it up myself from the dealer?
7.Lastly if i finished paying my loan, do i need to pay anything else? will the bank change the owner of the car to my name?
Thanks
answer to q.1 > it depends primarily on the dealer, some dealers require rust proofing, try inquiring about it sa mga dealers or so their quotations.

answer to q.2 > after being approved first time (the application form w/c most dealers asked you to accomplish if there is a sense of need), go to the bank that you got approved and asked the banker in charge of the auto loan to start processing the necessary documents. The 2nd part comes in as stated during the previous post. you must, again, supply the necessary documents needed since you're already applying the bank usually, they'll ask you, 2 valid IDs, current CoE, recent payslips (if employed), etc. etc. this is required. Pay the downpayment and others.

answer to q.3 > not necessarily but if you opted for a dealership that's near you why not? anyway, in case there is no available unit that you want, the bank will transact with different branches to search for an available one. giving you yet another option. Also, you ask the dealer to just process everything, just be ready with the required cash out.

answer to q.4 > usually its seperate. BDO had freebies when you got a deal with their autoloan. As for the dealer, In my exp., they gave me an umbrella, sun shade, seat cover, floor mats, EWD, Jack and tools and a special tshirt with a brochure that is only available if you purchase that unit, Lucky! . They don't cancel out each other.

answer to q.5 > Dealer : Vehicle's Sales Invoice (cust. copy), this is required for your car not get impounded . the rest is standard. The bank will give you your passbook (if auto debit) or atm for you to deposit your MA, the reciepts of the transactions too.

answer to q.6 > the main procedure is usually they deliver it to your home for confirmation, but you can/may also opt to recieve the car directly at the dealership's branch (that's what I did). Just bring the necessary documents:
Authorization letter (if its entitled to other family members), a valid ID from that member, 1-2 valid IDs of your own. Of course you have to sign the documents there yourself in the stead of the one entitled.

answer to q.7 > I dont think the bank will ask you to pay anything other than the option of paying up in advance.

Hope this answer your questions!

Good Day!