Buying Cars with Damage from Bank Repo

[yungfrankie]

Hi, Hingi lang po sana ako dito ng opinion or kung meron may mga first hand experience na bumili ng meron damage/issue from Bank Repo. yung mga ganun po ba is 'As Is' and hindi na triny galawin or irepair ng banko para tumaas yung appraisal value?
I'm planning to buy a 2019 model, 5k palang ang mileage, ininspect napo namin and okay naman lahat maliban sa bangga sa harap and likod, pinaestimate ko po at mga 10k yung gagastusin for repair ng bangga sa harap and likod. And meron din konting bent yung condenser dahil tinamaan, pero sabi naman ng kakilala kong mechanic is di naman daw magkakaproblem yon(see attached).
Since bago pa, I expect na wala pong ibang maging issues pero natatakot padin ako.
I'm still thinking if this is a Good buy or maghanap nalang ako ng unit ng mas maayos and wala ng paparepair.

[chronicle]

Mahaba process sa pagbili sa banko. Kung kukuha ka lang din, bawasan mo na sakit sa ulo/intindihin.

Daming repo na good buy. Bakit pa magtyaga sa damaged.

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[_Qwerty_]

as is where is parati yang mga repossessed cars..

anong year ba? wala bang insurance? di pwede i claim?

[sirkosero]

Bent condenser? Medyo malakas impact nyan. I will only get it if dirt cheap and wait another week before bidding. Mas mura na yan.

Whole process will take you about 4 months (including deed of sale, etc) but car will be awarded to you within the day or the next day aftee you pay your bid amount.

Anong unit ba yan?

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[yungfrankie]

as is where is parati yang mga repossessed cars..

anong year ba? wala bang insurance? di pwede i claim?

2019. Vinevery ko pa yung insurance pero mkang malabo na maclaim. For repair, pinaestimate ko 10k yung magagastos.

Bent condenser? Medyo malakas impact nyan. I will only get it if dirt cheap and wait another week before bidding. Mas mura na yan.

Whole process will take you about 4 months (including deed of sale, etc) but car will be awarded to you within the day or the next day aftee you pay your bid amount.

Anong unit ba yan?

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Naka attach po yung image nung bent condenser, sa tingin niyo po di po magiging problem yan? Elantra yung unit

[ice15]

mas concerned ako sa bangga sa harap at likod... kesa sa condenser.

kasi kung mag body repair ka (lalo na sa likod) madaling kalawangin yung part na na-welding na.

[yungfrankie]

mas concerned ako sa bangga sa harap at likod... kesa sa condenser.

kasi kung mag body repair ka (lalo na sa likod) madaling kalawangin yung part na na-welding na.

Yun nga sir. Maliit lang yung bangga sa likod pero meron ng kalawang dapat daw mapaayos agad kasi kakalat kung sakaling kunin man.

[ice15]

Yun nga sir. Maliit lang yung bangga sa likod pero meron ng kalawang dapat daw mapaayos agad kasi kakalat kung sakaling kunin man.

ok... trunk lang naman pala... madaling palitan later... and I think pupukpukin lang yan.

[dr. d]

Hi, Hingi lang po sana ako dito ng opinion or kung meron may mga first hand experience na bumili ng meron damage/issue from Bank Repo. yung mga ganun po ba is 'As Is' and hindi na triny galawin or irepair ng banko para tumaas yung appraisal value?
I'm planning to buy a 2019 model, 5k palang ang mileage, ininspect napo namin and okay naman lahat maliban sa bangga sa harap and likod, pinaestimate ko po at mga 10k yung gagastusin for repair ng bangga sa harap and likod. And meron din konting bent yung condenser dahil tinamaan, pero sabi naman ng kakilala kong mechanic is di naman daw magkakaproblem yon(see attached).
Since bago pa, I expect na wala pong ibang maging issues pero natatakot padin ako.
I'm still thinking if this is a Good buy or maghanap nalang ako ng unit ng mas maayos and wala ng paparepair.

bottomline,
it's a gamble.
how are you at gambling?

these bank folks do not have a mechanic or talyer, and they are not interested in getting one. the "mekanikos" there are just there to keep an eye on the merchandise.
what you see is what you get.
the bank people have no idea of the car's condition.
befriend the katiwala or mekaniko of the impound area. he knows about the car's condition... or at least, its condition when it was first brought in.

good luck.

[grss1982]

2019. Vinevery ko pa yung insurance pero mkang malabo na maclaim. For repair, pinaestimate ko 10k yung magagastos.





Naka attach po yung image nung bent condenser, sa tingin niyo po di po magiging problem yan? Elantra yung unit

What car is this? You only said a 2019 model? If that your go to mechanic checking the unit out? Might want to seek a second opinion from another mechanic just to be sure.

Just bought a 2007 Starex repo from Wealthbank and I'm having problems with transferring ownership and it's been 8 months since I maid my final payment. Make sure it's in writing that transfer of ownership will be done by the bank if that's even possible I guess. I just went with a verbal promise and here I am year later with the hassles.

[dr. d]

What car is this? You only said a 2019 model? If that your go to mechanic checking the unit out? Might want to seek a second opinion from another mechanic just to be sure.

Just bought a 2007 Starex repo from Wealthbank and I'm having problems with transferring ownership and it's been 8 months since I maid my final payment. Make sure it's in writing that transfer of ownership will be done by the bank if that's even possible I guess. I just went with a verbal promise and here I am year later with the hassles.

is the problem about who's gonna spend the money, legwork, and suwelas ng sapatos, in having the car transfered to your name?
or is there some other problem?

[yungfrankie]

Thanks po sa mga nagreply and sa tips. Decided not to get the unit muna. Baka pag naging discounted na and di padin makuha, kunin ko na. haha Pero for now tingin tingin muna ako sa mga bagong dating sa bank repo. Medyo hassle lang talaga. 4 na nainspect ko pero puro panget condition kahit sobrang baba ng mileage.

[dr. d]

Thanks po sa mga nagreply and sa tips. Decided not to get the unit muna. Baka pag naging discounted na and di padin makuha, kunin ko na. haha Pero for now tingin tingin muna ako sa mga bagong dating sa bank repo. Medyo hassle lang talaga. 4 na nainspect ko pero puro panget condition kahit sobrang baba ng mileage.

yung good condition cars are sold faster. the bad-condition cars get to grow roots in there.

errr... why are you limiting your windows to remated cars?
consider buying from actual owners (not bayan sellers!). they will probably agree to give you discount. some of them are even nice to talk to.

[grss1982]

is the problem about who's gonna spend the money, legwork, and suwelas ng sapatos, in having the car transfered to your name?
or is there some other problem?

No. They just need me to be at LTO when they call me. My point of contact with the bank kept telling me that he is waiting on another department of theirs to complete some other stuff like paper work and such. No mention at all of me spending money.

Maybe that should be the questions I'm asking instead of just taking them on their word that they'll call me. I not really the type to make a scene or be confrontational. :|

[yungfrankie]

yung good condition cars are sold faster. the bad-condition cars get to grow roots in there.

errr... why are you limiting your windows to remated cars?
consider buying from actual owners (not bayan sellers!). they will probably agree to give you discount. some of them are even nice to talk to.

Also looking for unit from actual owners. pero sa pagtingin tingin ko kasi sa marketplace and other apps/websites 95 percent ng nakikita ko bayan sellers.

[Gian Paulo]

Regarding sa mga display sa yard, puede ba paandarin or irquest marinig yung engine roaring before deciding? Ano na update sa Hyundai mo?

[dr. d]

Regarding sa mga display sa yard, puede ba paandarin or irquest marinig yung engine roaring before deciding? Ano na update sa Hyundai mo?

the rules vary, po.
ask them. kung pumayag, fine. kung hindi pumayag, sorry ka na lang.
some of these cars don't have strong batteries.

errr...
an insider once told me, the better buys may already have been driven out by "friends of the management".

[sirkosero]

Regarding sa mga display sa yard, puede ba paandarin or irquest marinig yung engine roaring before deciding? Ano na update sa Hyundai mo?

Pwede istart. Thats it. Bawala galawin from the current parking. Not even an inch

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[Egan101]

Marami diskargado yung baterya. Kung ma start man, check for error warning lights - check engine, ABS, etc.

As for the external damages or blemishes, you be the judge.


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[yungfrankie]

Di ko napo kinuha, hanap nalang ako ng mas konti yung problema. Target ko ngayon is Suzuki Ciaz. Gustong gusto ko talaga yung Elantra kaso parang andaming issues kahit bago palang sa pagcheck ko sa mga groups sa facebook and sobrang baba nung resale value, not sure why, halos kapresyo na niya yung 2nd hand accent.