Price of BMW's 2010 here in the Philippines?

[tidus1203]

Sorry never had a car loan, pero kung loan ba don't you also need to give your TIN number?

[tidus1203]

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

If that's the case then I apologize. But still I find it weird that banks would give higher deposit rates than loan rates? So ano na kikitain ng bank? Risk of default is ZERO kasi the placements are likely back-to-back with the loan pero the bank still needs to make money!

[uls]

a friend offers another explanation

he says mga HNW men na may kabit, bibilhan nila ng car ang kabit nila

pero syempre sigurista sila

they won't pay cash

what if hindi tumagal ang relationship diba?

so car loan

pag nag split sila before the car gets fully paid, the men stop payment on the car

car gets repossessed

girl loses car

[lukscudkil]

bank will require your latest itr as per bsp requirement but definitely for audit purposes only. tin are already mandatory now for opening any types of bank account. this is to distinguish the source of fund of the depositor. Anti Money Laundering moved by the BSP

[tidus1203]

a friend offers another explanation

he says mga HNW men na may kabit, bibilhan nila ng car ang kabit nila

pero syempre sigurista sila

they won't pay cash

what if hindi tumagal ang relationship diba?

so car loan

pag nag split sila before the car gets fully paid, the men stop payment on the car

car gets repossessed

girl loses car

Hehehehe you and your imagination uls...

[uls]

If that's the case then I apologize. But still I find it weird that banks would give higher deposit rates than loan rates? So ano na kikitain ng bank? Risk of default is ZERO kasi the placements are likely back-to-back with the loan pero the bank still needs to make money!

di naman siguro masmataas ang rate sa deposits than rate sa car loan

that won't make sense to the bank na

lugi na bangko

masmataas parin ang rate sa car loan

pero from the POV of the HNW customer, the difference is so small they don't mind anymore

[tidus1203]

Iba talaga mentality ko. Every peso loss is a loss. Willing ako magbayad ng interest only on MONEY MAKING activities.... Pero paying interest on a depreciating asset, NO THANKS!

[uls]

ya

i'm just speculating on the thinking process that goes on in the minds of people who buy cars thru bank financing even if they have more than enough money to pay cash

maybe kinulit sobra ng bangko ang customer na mag loan

eh hot chick representative yung pinadala ng bangko

bumigay ang customer hehe

[boybi]

I think it's for BIR purposes yung car loan. If nasita bakit nakabili ng luxury car, ang sagot, hulugan naman

[uls]

I think it's for BIR purposes yung car loan. If nasita bakit nakabili ng luxury car, ang sagot, hulugan naman

and the lower rates HNW customers get plus the higher interest their money earns make the car loan less painful

small price to pay to avoid harassment from BIR