car bank financing or in house car financing (innova E 2.8 Diesel)

[shadow]

Either inhouse or Bank PO si bank pa rin mag-aapprove. kung si ahente nag-aayos sigurado may cut pa ring ilang percent mas maganda pa ring ikaw ang maglakad.

Kung incomplete papers. Ahente na rin gagawa ng paraan. 🤣

Tapos offer pa nila 100% approval. Hindd kaya ng employee ng banko yan.

Meron kayang kasabwat din mga ahente sa loob ng banko?
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[Yatta]

May mga kalokohan din ang mga ahente eh. Naalala ko noon, nanghingi ng mga personal references. Binigay ko yung mga pangalan ng mga kaibigan ko. Yung isa kinuha lang pangalan tapos pinalitan ang contact info. Nilagay contact info niya. Para sigurado daw ang approval. Siya na daw bahala.

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[innovauser]

Sa PNB may promo libre insuranc

[dr. d]

Sa PNB may promo libre insuranc

the compre (1 year only?) or the tpl (3 years) ?

[litocamayo91]

in-house financing is way too much...

[mda]

Pag po ba bank financing, may mga free din ba like, LTO reg, insurance, mortgage, yung mga tint, mat, etc?

Mga magkano kaya total nyang mga freebies ng in-house?

Tint... kelangan suriin nang mabuti. Minsan pangit pagkagawa. Pero yung cost ng cheap tint siguro 2-3k.

Insurance, TPL is only typically 1.5k... Bank financing will require you to get comprehensive insurance (20+++k). Chattel mortgage fee alam ko 10+k yan (pero this is the value I'm least sure about).

Matting, normally they give you the cheap ones din (<2k) Mas maganda sa labas hehe.

Just to give you an idea

[jut703]

Thanks sir. In-house kasi ako para sure approve (?). Kahit papano alam ko na kung magkano yung mga free pangcompensate sa interest.

Pede ba ipaulit in case di maganda pagkakabit ng tint?

Kahit anong freebies pa yan, malabong pumantay ang interest rate ng bank financing vs in-house financing.

On average, in-house financing will set you back 45% in interest over 5 years. Kung 1M yung loan amount mo, may interest kang 450k na babayaran.

Bank financing naman, nasa 25-27% interest for 5 years. So lugi ka ng 200k sa in-house. Para kang nagtapon ng pera.

Kahit bigyan ka ng free tint, matting, LTO, insurance, at kung anu ano pa, hindi yan aabot ng 200k.

Kung hindi ka sure na maaapprove ng banko, baka naman masyado talaga mababa income mo for a car?

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[istan]

Correction: for the car. Ü

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[jut703]

Nakagpareserve na po ako sa dealer/inhouse (I already gave 10k reservation fee). Mareretract pa po ba yun and sabihin nameng magbabank finance na lang kame?
Meron kasi kameng existing na loan (house) sa bank namen, so medyo nagdadoubt kame kung maapprove kame through bank finance. Eh sa inhouse kasi mukang sure na approve.
Kaya pa naman po namen ng isa pang loan (yun nga lang di pa namen tinatry).

Thanks!

Yes, you just write a letter retracting your reservation. They usually issue you a check around 2 weeks to a month afterwards.

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[istan]

Maybe use another bank?

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[chris_d]

Meron kasi kameng existing na loan (house) sa bank, so medyo nagdadoubt kame kung maapprove kame through bank finance. Eh sa inhouse kasi mukang sure na approve. Kaya pa naman po namen ng isa pang loan (yun nga lang di pa namen mag inquire). But since nakita ko nga malaki difference, magiinquire na kame.

Question lang ulet, nakagpareserve na po ako sa dealer/inhouse (I already gave 10k reservation fee). Mareretract pa po ba yun and sabihin nameng magbabank finance na lang kame?





Thanks!

Usually the reservation fee you already paid can be deducted from your loan if you continue it with the bank.

[chris_d]

Ah so pede pa din po icontinue? Ang worry ko lang baka di na ko iaccomodate ng maayos nung agent ko kung magpapalit ako from inhouse to bank.

I guess depends on the agent since may additional kita sila pag in-house.

Last time bumili kami ng vehicle (non-toyota) nag down kami ng 20k tapos sabi namin wala pa approval/nde pa sure sa bank, ok lang daw yun, in the end ibabawas nila kung saan man ma approve yung loan. Naghintay rin yung agent namin ng few weeks bago nakuha yung bank loan papers. Sabi nung agent namin mag coordinate naman yung bank sa kanila tapos sales agent and bank na magusap at sila na bahala mag process less the reservation.

[istan]

Good luck sa bank hunting.

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[tikling]

ano ba pinag-iba ng bank financing or in house financing?

parehas lang di ba? kasi parehas na bank ang mag-approved. sa in house lang bahala na lahat si agent na maglakad lahat ng papel. intayin mo na lang na tawagan ka ng bank for interview.

[dos2]

ano ba pinag-iba ng bank financing or in house financing?

parehas lang di ba? kasi parehas na bank ang mag-approved. sa in house lang bahala na lahat si agent na maglakad lahat ng papel. intayin mo na lang na tawagan ka ng bank for interview.

bank financing - direct ka nag apply at process ng loan mo sa bank, mas maliit ang interest pero mas mahirap ma-approve.

in-house financing - si agent nagprocess, dahil may agent that functions as middleman, mas mataas ang interest which ranges from 10% up to 25% additional interest in a 5 year loan. In a 1M loan, that translates to 100K to 250K in additional interests. marami kumakagat sa ganito dahil mas madali maaprove.

now, make your choice.

[tikling]

in-house financing - si agent nagprocess, dahil may agent that functions as middleman, mas mataas ang interest which ranges from 10% up to 25% additional interest in a 5 year loan. In a 1M loan, that translates to 100K to 250K in additional interests. marami kumakagat sa ganito dahil mas madali maaprove.

now, make your choice.

Pero ang siste, tatawagan ka pa din ng bank at i-interview, titignan din ni bank mga papel mo.

Ginawa lang ni agent, pinasa sa mga bank yung papel mo.

[tsik_r2d2]

Thanks po sa discussion niyo dito - very informational.
I just want to ask na rin po if RCBC na po ba LOWEST in terms of interest rate of 23%?
Does it depend on a certain branch or mostly negotiable to other RCBC banks as well?

I was given 24.25% by BDO - that's it. No freebies.
BDO is my bank for my home loan and savings account.

Thanks in advance for those who will share insights!
Cheers.

[Syuryuken]

Thanks po sa discussion niyo dito - very informational.
I just want to ask na rin po if RCBC na po ba LOWEST in terms of interest rate of 23%?
Does it depend on a certain branch or mostly negotiable to other RCBC banks as well?

I was given 24.25% by BDO - that's it. No freebies.
BDO is my bank for my home loan and savings account.

Thanks in advance for those who will share insights!
Cheers.

RCBC can give you up to 21% if you are within metro manila, 23% is for provincial rate.

[Shottas01]

bank financing - direct ka nag apply at process ng loan mo sa bank, mas maliit ang interest pero mas mahirap ma-approve.

in-house financing - si agent nagprocess, dahil may agent that functions as middleman, mas mataas ang interest which ranges from 10% up to 25% additional interest in a 5 year loan. In a 1M loan, that translates to 100K to 250K in additional interests. marami kumakagat sa ganito dahil mas madali maaprove.

now, make your choice.

sa in-house financing may bank parin ba na involved? yung tipong si agent kumuha ng details and all tapos send sa bank pero technically kay bank parin naka loan? sorry noob question.

[TheUninvited]

sa in-house financing may bank parin ba na involved? yung tipong si agent kumuha ng details and all tapos send sa bank pero technically kay bank parin naka loan? sorry noob question.

Oo, may ka tie-up na bank din ang mga dealers. Sasabihin din naman sayo yan dapat nung agent kung anong bank.