Brand New, Repossessed or 2nd Hand?

[dr. d]

I just came from the vehicle stock yard of Chinabank located here along Jupiter street in Makati. I was out hunting for a used Pajero ...

Anyway, the lot/yard was full of repo'd small cars, name it, they have it. Mirage, Wigo, Elantra, etc. etc.

You may want to check it out.

that's a chinabank repo lot?
i thought it was a used car lot!

[kamotekid1968]

thanks sa input sir *dr. d, actually i am leaning towards a brand new vehicle na talaga, mirage G4 so i made a reservation pero nagdadalawang isip din ako kasi for 5 years ko babayaran sa bank plus yung hassle na dala based nadin sa experience ko nung natag as total loss yung sasakyan ko. we are planning to use whatever refund na makukuha sa insurance to pay for the DP. kung second hand naman, di naman sasapat yung refund lang to pay it in full so plan ko ipasok sa financing pag bumili ako ng repo or 2nd hand, which is mura nga naman kaso wala naman akong kilalang magaling na mekaniko to check if everything is intact/all well sa unit.

[dr. d]

thanks sa input sir *dr. d, actually i am leaning towards a brand new vehicle na talaga, mirage G4 so i made a reservation pero nagdadalawang isip din ako kasi for 5 years ko babayaran sa bank plus yung hassle na dala based nadin sa experience ko nung natag as total loss yung sasakyan ko. we are planning to use whatever refund na makukuha sa insurance to pay for the DP. kung second hand naman, di naman sasapat yung refund lang to pay it in full so plan ko ipasok sa financing pag bumili ako ng repo or 2nd hand, which is mura nga naman kaso wala naman akong kilalang magaling na mekaniko to check if everything is intact/all well sa unit.

consider pre-owned units being sold by the casa. they're a bit more expensive than other used vehicles, but i like to believe that the casa warranty extended to these units should make the buyer breathe easier.

[kamotekid1968]

you mean, go straight to mitsu dealership? instead of banks? i saw a 2015 mirage G4 with 18k ODO reading for around 400k, GLS (top of the line) GLS and CVT na. my unit that was wrecked by a cement mixer truck was a Mirage HB GLX CVT 2015. eh ayaw na ni misis ng hatch at gusto may trunk na for extra luggage nadin.

[dr. d]

you mean, go straight to mitsu dealership? instead of banks? i saw a 2015 mirage G4 with 18k ODO reading for around 400k, GLS (top of the line) GLS and CVT na. my unit that was wrecked by a cement mixer truck was a Mirage HB GLX CVT 2015. eh ayaw na ni misis ng hatch at gusto may trunk na for extra luggage nadin.

banks only loan you money. they do not manufacture cars. as such, many banks having a corral of repossessed cars, because they do not manufacture nor service cars, are on an as-is-where-is basis, i.e., no warranty of any sort. you will have to ask the dealer or manufacturer, what sort of warranty such repossessed car will enjoy.
but dealers sell cars and repair cars, with warranty.
go to the dealer and see what car suits your fancy. ask if they have used but casa-certified cars available. then go to the bank and ask if they can finance your car purchase.

[kamotekid1968]

great idea! that gave me another option aside from the bank's repo cars. if it is less 30-40% of the original price then i think that will be a good deal however, in the event that the price upon comparison is quite close then getting a brand new unit is the no brainer choice. thanks sir, very informative. i am new to the car industry and no experience whatsoever when it comes to checking this and that but i am willing to learn so i am reading and reading and reading posts here.

[Walter]

I just came from the vehicle stock yard of Chinabank located here along Jupiter street in Makati. I was out hunting for a used Pajero ...

Anyway, the lot/yard was full of repo'd small cars, name it, they have it. Mirage, Wigo, Elantra, etc. etc.

You may want to check it out.

Tell me if you see a Mazda CX-5 or a Subaru Forester SH / SJ ...

[Walter]

consider pre-owned units being sold by the casa. they're a bit more expensive than other used vehicles, but i like to believe that the casa warranty extended to these units should make the buyer breathe easier.

There was that certified pre-owned Toyota Innova whose bumper was being held by metal tie wires ...

[dr. d]

There was that certified pre-owned Toyota Innova whose bumper was being held by metal tie wires ...

i wonder... who put the wires there? the original owner, the casa, or the new owner?

[confused shoes]

It looks you are not very familiar with repo and used cars. Get a brand new unit that suits your budget.