Need advise for a good promo

**StockEngine** · November 18th, 2019 03:15 PM

Originally Posted by torps04

Hello mga tsikot, need ko help niyo to decide which car to buy. Im opting to bug either montero or everest, pero walang discount ngayon sila inooffer unlike toyota and isuzu. Puro low dp lang offer nila. Meron ba kayo idea sa good promo? Medyo tight din kasi budget

**yubby24** · November 18th, 2019 04:05 PM

Originally Posted by StockEngine

Di ko magets yung zero downpayment na yan.

Can you really drive home that car without shelling out any money?

**Egan101** · November 18th, 2019 04:20 PM

Originally Posted by yubby24

Di ko magets yung zero downpayment na yan.

Can you really drive home that car without shelling out any money?

The discount is factored within the payment scheme thus you don't need to shell out money. Also, the dealer will shoulder the LTO registration, first year of insurance, and chattel mortgage. What you will be paying for is just the monthly amortisation.

To get the difference between the usual car loan and this low/zero down scheme, just do the calculations below. It's a choice between lower total cost over the term of the loan (regular car loan) or the ease of acquisition (Low/Zero Down).

Regular car loan
Initial cost = down payment + LTO registration + 1st year of insurance + chattel mortgage
Recurring cost = monthly amortisation (multiply by term of loan) + annual cost of insurance

Low/Zero Down Car Loan
Initial Cost = Low DP (or no money out for Zero Down)
Recurring cost = monthly amortisation (multiply by term of loan) + annual cost of insurance

**ray_noel** · November 18th, 2019 05:19 PM

Originally Posted by Egan101

The discount is factored within the payment scheme thus you don't need to shell out money. Also, the dealer will shoulder the LTO registration, first year of insurance, and chattel mortgage. What you will be paying for is just the monthly amortisation.

To get the difference between the usual car loan and this low/zero down scheme, just do the calculations below. It's a choice between lower total cost over the term of the loan (regular car loan) or the ease of acquisition (Low/Zero Down).

Regular car loan
Initial cost = down payment + LTO registration + 1st year of insurance + chattel mortgage
Recurring cost = monthly amortisation (multiply by term of loan) + annual cost of insurance

Low/Zero Down Car Loan
Initial Cost = Low DP (or no money out for Zero Down)
Recurring cost = monthly amortisation (multiply by term of loan) + annual cost of insurance

Or
Regular car loan - less expensive total cost

Low/Zero Down Car Loan - more expensive total cost

Total cost when buying a new car...

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**torps04** · November 18th, 2019 05:47 PM

Originally Posted by StockEngine

Where did you get this?
I cant find this promo on their website

**Egan101** · November 18th, 2019 07:04 PM

Originally Posted by ray_noel

Or
Regular car loan - less expensive total cost

Low/Zero Down Car Loan - more expensive total cost

Total cost when buying a new car...

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In my experience with these low down pricing schemes, the difference in the span of 5 years is just around 30k. That’s a difference of 6k per year, assuming the discount was offered only on the low down scheme.

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**sean-archer** · November 18th, 2019 09:08 PM

Originally Posted by Egan101

In my experience with these low down pricing schemes, the difference in the span of 5 years is just around 30k. That’s a difference of 6k per year, assuming the discount was offered only on the low down scheme.

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30k in 5 years. Not bad at all.

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**carxynogen** · November 19th, 2019 08:10 AM

Originally Posted by Egan101

In my experience with these low down pricing schemes, the difference in the span of 5 years is just around 30k. That’s a difference of 6k per year, assuming the discount was offered only on the low down scheme.

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Maybe you mean 30k difference from the unit’s SRP, not after Mitsubishi’s usual cash discount of 200k+.

**ray_noel** · November 19th, 2019 12:36 PM

Originally Posted by Egan101

In my experience with these low down pricing schemes, the difference in the span of 5 years is just around 30k. That’s a difference of 6k per year, assuming the discount was offered only on the low down scheme.

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Then you’ve got a great deal but mostly that’s not their normal practice especially for low down or no downpayment...

been comapring their computation and the banks, mostly they have 40-50% up as compared to bank max is around 30% interest for 5 years... that’s why agent keep pushing their low or no dp scheme bec. they will get bonus from the bank once approved...

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**Egan101** · November 19th, 2019 12:58 PM

Originally Posted by carxynogen

Maybe you mean 30k difference from the unit’s SRP, not after Mitsubishi’s usual cash discount of 200k+.

30k difference in total acquisition cost. Please check above for sample computation. However, this was on a different car.

It is best to do the same calculation on the Montero to check total difference in acquisition cost. Some dealers offer different discounts on cash, regular bank loan, or low down scheme.

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