Price of BMW's 2010 here in the Philippines?

**tidus1203** · September 6th, 2010 03:47 PM

Hahaha the banks would love to give you a loan for a BMW, but you must be stupid to buy a luxury vehicle on a loan... Tawag duon trying hard!

**uls** · September 6th, 2010 04:16 PM

but nobody would know if you paid cash or you got a loan hehe

basta naka new BMW

image is everything

**jonski** · September 6th, 2010 04:27 PM

Originally Posted by uls

aspirational brand

That car logo strips panties off girls faster than diarrhea.

**boybi** · September 6th, 2010 04:31 PM

Originally Posted by tidus1203

Hahaha the banks would love to give you a loan for a BMW, but you must be stupid to buy a luxury vehicle on a loan... Tawag duon trying hard!

Not really. When my wife was still working in a bank, they had clients with hundreds of millions in placements, yet they buy cars through financing.

**tidus1203** · September 6th, 2010 04:37 PM

Why do that? IMO they are still stupid and I don't care how rich they are. Why pay interest on a car when you can pay cash? No bank placements can ever beat car loan interest rates cause that the banks interest rate spread. They give you low rates then lend at high rates and pocket the difference.

You could trade stocks or trade forex and beat the car loan interest rates, but thats risky and there is no guarantee you will make money. But your car loan amortization goes on even if you make or lose money trading stocks or forex...

**tidus1203** · September 6th, 2010 04:44 PM

Originally Posted by uls

but the nobody would know if you paid cash or you got a loan hehe

basta naka new BMW

image is everything

Yeah sadly that is the consumer culture that is being planted to our kid's mind... I thank my parents for making me different!

**jang** · September 6th, 2010 05:39 PM

Originally Posted by tidus1203

Why do that? IMO they are still stupid and I don't care how rich they are. Why pay interest on a car when you can pay cash? No bank placements can ever beat car loan interest rates cause that the banks interest rate spread. They give you low rates then lend at high rates and pocket the difference.

You could trade stocks or trade forex and beat the car loan interest rates, but thats risky and there is no guarantee you will make money. But your car loan amortization goes on even if you make or lose money trading stocks or forex...

I think it's to avoid getting the attention of the BIR.

**tidus1203** · September 6th, 2010 05:56 PM

Kung BIR lang naman e you can always ask the sales manager nicely not to reveal your name... Still I wouldn't pay the interest rates just for the sake of the BIR meddling... Besides if you loan from a bank you still need an ITR, its a BIR document...

**lukscudkil** · September 6th, 2010 06:08 PM

good day.buying a car in cash will also require the buyer its TIN for the car registration.

**uls** · September 6th, 2010 06:11 PM

Originally Posted by boybi

Not really. When my wife was still working in a bank, they had clients with hundreds of millions in placements, yet they buy cars through financing.

i think it's coz banks give high net worth customers lower rates for car loans than ordinary borrowers

and their large placements earn higher rates than ordinary depositors

so one evens out the other and it makes sense to the HNW customers to get a car loan