Brand New, Repossessed or 2nd Hand?

**rico_yan** · May 23rd, 2018 04:24 AM

gabrie, based on my previous experience (10 years ago), pag naka-finance yung bnew car, ire-release lang ang original CR pag fully-paid na yung loan mo. Then yung OR, yung dealership ang magbibigay sa yo nun.

**rico_yan** · May 23rd, 2018 04:28 AM

follow-up from my previous post: yung OR original yata ang ibibigay ng dealership upon delivery ng car, then photocopy lang yung CR. Again, this was 10 years ago...not sure if a lot has changed since.

**Gian Paulo** · May 24th, 2018 09:17 AM

Originally Posted by dr. d

caveats on repo cars.
1. why should owner take good care of the car, if he knew it would be re-possessed soon? there are people like that. so, check very well the car first.
2. ask about the getting-out-of-mortgage fees. it's not a small sum.
3. ask the bank, exactly what other fees buyer will be paying. ask also re. destination fees or shipping fees. for some reason, some buyers are not aware that the car they just bought, will have to be shipped or driven from... elsewhere. talk about buying, sight unseen.
4. inquire if the car is being held as collateral for an even-remotely-related issue. there is this thread re. someone buying a car from the owner who still had to complete the installments. the buyer completed the payments. but the bank refused to release the car ownership to him. it seems, the spouse of the owner had an unpaid debt (credit card yata) to the bank, and the car was being held as collateral. and the owner and spouse were not on friendly terms.

Wonder how much is fee for Mortgage. In the case of EastWest, its mentioned that the bidder will shoulder the necessary process in clearing up and transfer procedures. Thanks

**dr. d** · May 24th, 2018 09:25 AM

Originally Posted by Gian Paulo

Wonder how much is fee for Mortgage. In the case of EastWest, its mentioned that the bidder will shoulder the necessary process in clearing up and transfer procedures. Thanks

purchasing from the bank is fraught with hidden fees (monies not included in the car's advertised price).
one has to ask for these hidden fees.
the document i am holding now, indicates 1022.32 pesos on the government OR, as "release of chattel mortgage". i am not sure if this is what TS is asking for.

nothing is free, in the auto industry.
but they are quite skillful in hiding these fees somewhere in the paperwork.

**brcvctr** · May 26th, 2018 09:10 PM

Hi guys, share ko lang. Kakalabas ko lang ng 2014 mirage g4 glx na repossessed from eastwest kanina.
Kanina ko lang din nadiscover na ang taas ng clutch, mga 3/4 irelease bago mag working level, hirap pa ko idrive, newbie din kasi ko. Naaadjust ba yun, or ako talaga dapat mag adjust?

Regarding hidden fees, sabi dati ng sales agent sa bdo ng mga repossessed din magprepare ka talaga dapat ng 10k to 15k para sa cancellation ng mortgage at transfer

**ray_noel** · May 26th, 2018 10:48 PM

Originally Posted by brcvctr

Hi guys, share ko lang. Kakalabas ko lang ng 2014 mirage g4 glx na repossessed from eastwest kanina.
Kanina ko lang din nadiscover na ang taas ng clutch, mga 3/4 irelease bago mag working level, hirap pa ko idrive, newbie din kasi ko. Naaadjust ba yun, or ako talaga dapat mag adjust?

Regarding hidden fees, sabi dati ng sales agent sa bdo ng mga repossessed din magprepare ka talaga dapat ng 10k to 15k para sa cancellation ng mortgage at transfer

our 92 corolla before pwede siya ma adjust kung gaano kalalim or babaw yung clutch para mag engage... but every car has diff. Clutch settings (i dont know the term) pro pag manual driver ka talaga from the beginning you can adjust easily... just feel the engine... [emoji16] timpla2 hanggang makuha ang saktong timpla.. goodluck and congrats!!!

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**gabrie** · May 29th, 2018 03:59 PM

Originally Posted by rico_yan

gabrie, based on my previous experience (10 years ago), pag naka-finance yung bnew car, ire-release lang ang original CR pag fully-paid na yung loan mo. Then yung OR, yung dealership ang magbibigay sa yo nun.

kapag binili in cash mula sa suzuki mismo fully amount to 1.2M, ibibigay ba kaagad ang OR CR?

Meron kasi akong pinabili ng sasakyan. binigyan ko ng 1.2M in cash. nagkabangaan ngayun at hinanap ko yung ORCR, wala namang maibigay sa akin. nagduda na tuloy ako kung binayaran ba nya in cash yong kotse.

**Walter** · May 30th, 2018 03:52 PM

Takes a few weeks for the OR / CR to be released ... ask for the sales invoice to see how much was paid ...

**tsik_r2d2** · June 8th, 2018 02:04 PM

Hello gurus,

I've only driven 7x in my life - mostly short distances with Manila to Fairview being the farthest.
Tried AT once and the rest are MT.

I have zero knowledge in cars except the basics of check tires-start-drive-stop.

I am planning to buy an Xpander due to its ground clearance and good reviews - my wife doesn't prefer a sedan due to flood prone area.
Will you advise to pursue a bnew for beginners like me or stick to 2nd hand as most of my advisers tell me.

Thanks in advance!

P.S. I do not trust second hand sellers as I know several persons selling faulty cars.

**dr. d** · June 8th, 2018 02:09 PM

Originally Posted by tsik_r2d2

Hello gurus,

I've only driven 7x in my life - mostly short distances with Manila to Fairview being the farthest.
Tried AT once and the rest are MT.

I have zero knowledge in cars except the basics of check tires-start-drive-stop.

I am planning to buy an Xpander due to its ground clearance and good reviews - my wife doesn't prefer a sedan due to flood prone area.
Will you advise to pursue a bnew for beginners like me or stick to 2nd hand as most of my advisers tell me.

Thanks in advance!

P.S. I do not trust second hand sellers as I know several persons selling faulty cars.

the last line. you are answering your own question, sir.
heh heh.

seriously,
brand new is preferable, but only if one can afford it, and/or you are not skilled enough in making your money work for you.

personally, a ground clearance advantage of 1 - 2 inches, is not much of an advantage, when it comes to wading thru floods.