lowest auto loan rate

**ray_noel** · April 2nd, 2019 12:38 AM

Originally Posted by 17Sphynx17

This really depends on your bank. Preferably, you have an existing relationship with the bank you are asking for the car loan. That way you get preferred rates rather than just "advertised" rates.%.

That’s why i requested him to go to different banks for qoutations and i stated to go first with metrobank because per my experience nothing beats their offer even BPI which i have dollar and peso savings account cant’t match them. This apply to PSBank (metrobank sister company) as well.

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**17Sphynx17** · April 2nd, 2019 12:47 AM

Originally Posted by ray_noel

That’s why i requested him to go to different banks for qoutations and i stated to go first with metrobank because per my experience nothing beats their offer even BPI which i have dollar and peso savings account cant’t match them. This apply to PSBank (metrobank sister company) as well.

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The reason why I said preferably bank you have an existing relationship with rather than walk in, because my own/family's personal experience is usually that.

If we just go to banks with no existing relationship, might as well just get their advertised rate online and not waste time.

I posted what I got recently from my bank, one year and 2 year rate. Brother gets similar or slightly better rate from his bank to what I get from mine. It is better than the rate you mentiioned from Metrobank.

Also, BPI used to give okay rates in the past but stopped considering them for a while because their rate is usually higher than what I get from BDO for some odd reason. I've closed my BPI account already as I don't care about using that bank as there was no real benefit to having one.

Rate I referenced is not BDO but another bank, not the big 3.

**captjacksparrow** · April 2nd, 2019 06:43 PM

Update: So I went to BDO, BPI and Metrobank. BDO's offer is 29.14%, BPI's offer is 26.98% with free chattel and 1 yr compre insurance (promo), Metrobank's offer, which I have savings account, is close (a bit higher) to BPI's but chattel and insurance are not free. I think I have to go with BPI's offer. Thanks for the advice.

**ray_noel** · April 2nd, 2019 07:18 PM

Originally Posted by captjacksparrow

Update: So I went to BDO, BPI and Metrobank. BDO's offer is 29.14%, BPI's offer is 26.98% with free chattel and 1 yr compre insurance (promo), Metrobank's offer, which I have savings account, is close (a bit higher) to BPI's but chattel and insurance are not free. I think I have to go with BPI's offer. Thanks for the advice.

Congrats! Yes and please check the contract info on their free insurance, maybe the car insurance will be tied up to them for the entire duration of your contract. But if it will not bother you then that’s fine. Sometimes your free insurance is not free because they add it up once you renew your insurance. [emoji4] business..

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**captjacksparrow** · April 2nd, 2019 10:37 PM

Originally Posted by ray_noel

Congrats! Yes and please check the contract info on their free insurance, maybe the car insurance will be tied up to them for the entire duration of your contract. But if it will not bother you then that’s fine. Sometimes your free insurance is not free because they add it up once you renew your insurance. [emoji4] business..

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I asked about it and the manager was honest enough to admit that it will be tied up for 3 years. But I guess 3 years with 1 year free is not that bad and still can save me some money compared to other Insurance where I will be paying for 3 years (even if they are cheaper)

**ray_noel** · April 2nd, 2019 11:40 PM

Originally Posted by captjacksparrow

I asked about it and the manager was honest enough to admit that it will be tied up for 3 years. But I guess 3 years with 1 year free is not that bad and still can save me some money compared to other Insurance where I will be paying for 3 years (even if they are cheaper)

No ted. [emoji4] so see you soon in innova thread once you got your unit sir.

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**captjacksparrow** · April 3rd, 2019 07:29 AM

Originally Posted by ray_noel

No ted. [emoji4] so see you soon in innova thread once you got your unit sir.

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One more question: Is there such thing as processing fee in BPI auto loan? The manager said it would be only 5000 because of their promo. Baka pala sa kanya lang yun, hehe

**chris45** · May 6th, 2019 03:08 PM

Originally Posted by captjacksparrow

One more question: Is there such thing as processing fee in BPI auto loan? The manager said it would be only 5000 because of their promo. Baka pala sa kanya lang yun, hehe

nakita mo na ung reviews dito ng BPI insurance?