Buying a Brand New Car through Loan

[pccabeltis]

Naghahanap kami ni misis and target namin is Adventure GLS Sports SE 2012 (budget/family use).

This is the first time na nagpunta kami sa dealers at banks to inquire for rates.

Ito mga natutunan ko:
- kung magpapaquote sa dealers, wag niyo muna ibibigay name and contact niyo kung hindi pa kayo decided na magpaapprove sa banks.

- Mas mababa ang interest rates sa bank compared sa inhouse financing, malaki ang difference.

- Banks na nag offer ng lowest interest is Union Bank, BPI, and MetroBank

- Much better kung makita nyo ng personal ang target niyong car para macheck maigi ang specs and eevrything.
Once may quotation sa banks, contact them again and mention na may nagoffer ng mas mababa, for sure tatapatan nila yun.

- Kung napaapprove na kayo ng dealers sa bank, nila, may probability na hindi na ihonor yung approval ng direct from bank. Still, pwede mo hintayin na magexpire ang approval for 1 month, then reapprove your desired bank



Ito naman po questions ko:
- Kung naapprove po yung laon namin sa bank ng dealer, may chance pa po ba na yung preferred bank namin ang susundin for the purchase? May nagsabi kasi na hindi daw pwede kapag may nauna nang maapprove.

- Kung sa bank po ba magapply ng auto laon na may lower interest, may chance pa din ba na makuha yung freebies na offer ni dealer?

- Paano po pickupin yung new car, ideliver sa house or kukuhain mismo sa showrooms/branches?

- Saan po magandang kumuha ng comprehensive insurance?

- Saan po may driving school within Manila na may Adventure for drive test? And yung best sana for the price. Also thinking kung beginner or refresher ang kukunin ko, last drive ko is last 2004 pa using box type.

Thanks!

[yebo]

depende yung freebies kung naghahabol sila ng sales. pag naka-quota na yang mga yan masusungit din yan. at usually pag direct approve ka sa bank (ganun gawa ko lagi) mas kuripot sila sa freebies. hingi ka na lang ng discount. yung last 3 purchases ko minimum na discount na nakuha ko was 50k, yun na lang ibili mo ng freeboes na gusto mo.

pwede mo pa-deliver, trabaho ng SA yun e. pero kung may time ka naman mas masarap din naman na ikaw maglalabas sa casa ng new ride mo di ba.

huwag ka kukuha mg insurance sa bank kung saan ka nag-loan. bakit? san ka nakakita ng banker na masaya kung sisingilin mo siya? makes sense? kuha ka sa reputable insurance company, dami iba dyan. may thread yata dito kung alin yung recommended at yung dapat iwasan na insurance companies.

[_Qwerty_]

pag sa bank ka na approved, usually ang dating sa dealer nyan eh cash purchase.. kasi babayaran nang diretso nang bank yung dealer.. kaya wala sila masyadong binibigay na freebies pag ganyan, standard freebies and standard discount kung meron..

gawin mo mag inquire ka sa at least 3 dealers.. sabihin mo cash purchase.. then tell them ano freebies makukuha mo.. sabihin mo bakit don sa ganitong dealer ganito yung binibigay.. tapos yung pinaka magandang deal yun ang kunin mo.. ganyan ginawa ko.. make sure to put their quotes in writing.. para walang problema.. tapos pag approved na yung loan mo sa bank bigay mo yung quote nung dealer na napili mo..

kung may time ka naman.. mas maganda ikaw na kumuha mismo nang car para ma inspect mo mabuti.. wag ka maglalabas nang car sa gabi.. kailangan may araw pa para makita mo mabuti.. wag masyado excited.. wag magmamadali.. check mo mabuti inside and out.. pop the hood.. check lahat nang electricals kung working.. at kung nakabit lahat nang freebies..

sa insurance.. ganon din.. pag sigurado ka na kung anong car bibilhin mo, magpa quote ka sa 3 insurance.. kailangan w/ acts of god.. check mo din yung deductible.. wag yung premium lang.. tapos yung pinaka ok ang kunin mo.. wag ka kukuha sa dealer or bank, may patong parati yan..

driving school.. both a1 and smart driving.. ang alam ko innova and revo ang meron sila.. walang adventure..

[_Qwerty_]

eto TS.. may adventure sila.. medyo mababa din rates compared sa A1..

ayaw pala dito yung sulit na link.. search mo na lang sa sulit sir.. "quickdrive driving school"

[pccabeltis]

Salamat mga sirs sa input nyo. Keep 'em coming.

[vinj]

Ito naman po questions ko:
- Kung naapprove po yung laon namin sa bank ng dealer, may chance pa po ba na yung preferred bank namin ang susundin for the purchase? May nagsabi kasi na hindi daw pwede kapag may nauna nang maapprove.

- Kung sa bank po ba magapply ng auto laon na may lower interest, may chance pa din ba na makuha yung freebies na offer ni dealer?

- Paano po pickupin yung new car, ideliver sa house or kukuhain mismo sa showrooms/branches?

- Saan po magandang kumuha ng comprehensive insurance?

- Saan po may driving school within Manila na may Adventure for drive test? And yung best sana for the price. Also thinking kung beginner or refresher ang kukunin ko, last drive ko is last 2004 pa using box type.

Thanks!

The dealer will and should honor the bank PO of your choice, especially if it's one of the big banks where payment track record is established. On the freebies, just go to the dealer and negotiate for the best deal in terms of discounts and freebies, don't discuss about financing anymore. Just present that you have your own bank in which you already have good dealings with and that they will be the ones to provide the dealer with the PO once you finalize the deal and obtain the approval.

Better to pick-up you unit from the dealer, bright and early so you can personally go over it, test it, and point out any problems you see before you accept the unit.

On comprehensive insurance, try to get quotations from the bank, brokerage, and directly so you can compare. I usually get my insurance through my bank's insurance brokerage since they give me good rates and making claims is easily done through them.

On the driving school, no need to drive an Adventure if you ask me; just take the basic driving lessons to bring you up to speed in skill, rules and regulations. Madali lang to adjust to your new car if you ask me. If you ask me, it's okay also to practice manual driving in a gas vehicle as this is more sensitive to pedal inputs over a diesel like the Adventure where you can barely stall the engine when you drop the clutch.

[yapoy86]

Ito naman po questions ko:
- Kung naapprove po yung laon namin sa bank ng dealer, may chance pa po ba na yung preferred bank namin ang susundin for the purchase? May nagsabi kasi na hindi daw pwede kapag may nauna nang maapprove.

> Once approve ka ng bank kahit saan dealer pwede ka.. since mitsubishi adventure gusto mo.. try mo sa Mitsubishi abad santos hanapin mo si Tina.. siya nag assist sa akin doon kahit thru bank may freebies pa din at very accommodating talaga

- Kung sa bank po ba magapply ng auto laon na may lower interest, may chance pa din ba na makuha yung freebies na offer ni dealer?

> depende sa dealer... maliit na kasi ang dealer's commission nila from the bank.. kaya standard freebies lang..

- Paano po pickupin yung new car, ideliver sa house or kukuhain mismo sa showrooms/branches?

> once approved within 1 - 2days kung available na yung color na gusto mo kuha na agad. pwede ideliver or pick mo sa showroom.. ako prefer ko pick up ko sa showroom sabay inspection na din ng unit

- Saan po magandang kumuha ng comprehensive insurance?

> yung banks kasi may mga tie up insurance company yan or minsan may insurance na din sila.. kahit saan pwede kumuha mas maganda dun sa mas mura.. make sure lang na madali ka din maka claim dun

- Saan po may driving school within Manila na may Adventure for drive test? And yung best sana for the price. Also thinking kung beginner or refresher ang kukunin ko, last drive ko is last 2004 pa using box type.

> napaka dali i-drive ng adventure... no need for test drive

[pccabeltis]

Guys thanks sa suggestions niyo.
May slight problem po kami.
Naibigay kasi ni misis ang names and contacts namin dun sa unang casa na pinuntahan namin (Mitsubishi Pasong Tamo).
Ngayon napaapprove na nila kami sa bank nila which is BPI.

Ngayon nung nag aaply na ako direct sa bank, BPI din, hindi na daw pwede sa kanila dahil may nauna nang nag approve sa amin. Malaki po difference sa interest.

Dealer's BPI bank - 34% interest
Direct from BPI - 20% interest

Ang sabi po ng bank teller from 2nd bank is need daw namin hintayin magexpire yung approval ng 1st bank na 6 months pa. Paano po kaya magandang gawin dito?

Thanks!

[elviar]

Guys thanks sa suggestions niyo.
May slight problem po kami.
Naibigay kasi ni misis ang names and contacts namin dun sa unang casa na pinuntahan namin (Mitsubishi Pasong Tamo).
Ngayon napaapprove na nila kami sa bank nila which is BPI.

Ngayon nung nag aaply na ako direct sa bank, BPI din, hindi na daw pwede sa kanila dahil may nauna nang nag approve sa amin. Malaki po difference sa interest.

Dealer's BPI bank - 34% interest
Direct from BPI - 20% interest

Ang sabi po ng bank teller from 2nd bank is need daw namin hintayin magexpire yung approval ng 1st bank na 6 months pa. Paano po kaya magandang gawin dito?

Thanks!

Ibig sabihin kami din pala ganyan mangyayare.
Actually 2 banks ng dealer ang nag approve samin PSBank and Eastwest Bank. So, kapag nag walk-in application ako sa PSBank hindi na ako papayagan kasi na approve na ako sa KIA-PSBank?

Pano kung sa ibang bank pede parin ba? Like BDO or BPI...

[eminem6480]

*Elviar

Ganun na nga po sir ang mangyayari. Either hintayin maexpire yung approval nyo sa PSBank and EastWest after 6 months or humanap na lang ng ibang bank.