Financing a car Question, how?

[ajkotse]

Hi guys,

I'm a newbie.. planning to get my 1st car... btw I only have 150k (Max) na cold cash... tumitingin kasi ako ng mga ads sa sulit/ayosdito may mga cars na "open/ok for financing" pano po ito? at ano process? kasi I'm looking for a 300-400k na sedan. I don't have the money to buy it pure cash.. pero kaya naman ang monthly... nagtanong ako sa mga banks, some said hindi daw sila tumatanggap ng sa ibang tao bibili at sila magfifinance... either sakanila ka kumuha "repossessed cars" (in my opinion ayoko kumuha ng narepossess)

ask ko lang san pwde magpafinance ng ganito? sang bank if ever? yung mura sana ang interest? thanks guys!

[m05tw4nt3d]

afaik banks offer financing of second-hand cars, although at a higher rate compared to brand-new cars, im not sure by how much. and may certain limit sila sa age ng cars, like it should be at most 5 years by the start ng financing.

papatayin ka talaga ng interest rates lalo na kung long term yung loan. even 36 months is already long enough. better to save up na lang muna, kesa pilitin mo and magkaproblema suddenly, sayang lang yung pinaghirapan mo.

[Retz]

Just make sure you have the money to pay for the monthly amortization. Ang daming mga low DP pang enganyo sa mga potential car buyers.

[ajkotse]

Hmm... kasi a car is a need for me right now... ok lang sakin kahit hindi maporma.. necessity ko talaga siya right now kasi halos everyday ako nagtataxi it sucks 250 pamasahe ko daily eh sa makati-qc lang naman route ko... madaling araw kasi uwi ko eh... I think kaya ko naman ang monthly... *pero nkakapanghinayang din talaga yung interest*

so in short pwde ako pumunta sa bank para ipa-finance yung bibilin ko auto? kelangan ba kasama ko yung seller? ano mga process? thanks guys sa mga reply!

[kidgz]

kung may 150k kana

why aim pa dun sa 300 or 400 tapos pa finance mo pa sayang interest

kuha ka na lang 90 to 2000 model

pasok pa sa budget mo syempre kailangan lang mabusisi ka para ok ok pa na kuha mo

wala kana intendihen na interest

save mo na lang pera mo after a year saka ka ulit updgrade ng ride mo

.....

[ajkotse]

kung may 150k kana

why aim pa dun sa 300 or 400 tapos pa finance mo pa sayang interest

kuha ka na lang 90 to 2000 model

pasok pa sa budget mo syempre kailangan lang mabusisi ka para ok ok pa na kuha mo

wala kana intendihen na interest

save mo na lang pera mo after a year saka ka ulit updgrade ng ride mo

.....

this is a good point, the problem is... I'm a newbie and I don't know anything about cars except for driving :P hehe... kung mabusisi lang tlaga ako..

kung may masusuggest kayo na bank na nagfifinance at alam nyo process.. please share it sa thread na toh. thank you :D

[slapz]

alam ko sa mga Car Dealerships mismo, merong mga pre-owned na vehicles na nakadisplay outside. You can start from there. Like go to Toyota, for sure merong mga Vios na nakadisplay dun. Ask about them. or, go to Ford. Mas mura 2nd hand nila. Ehehe!

here in Pampanga, there is CarMix (ito lang napuntahan kong pre-owned car dealer), tutulungan kapa nila on how to finance the car na napili mo. Usually 30% dp, 36 months ang mga pre-owned. Kaso, nagbrand new na ako. Ehehe!

[gie190920]

Hi guys,

I'm a newbie.. planning to get my 1st car... btw I only have 150k (Max) na cold cash... tumitingin kasi ako ng mga ads sa sulit/ayosdito may mga cars na "open/ok for financing" pano po ito? at ano process? kasi I'm looking for a 300-400k na sedan. I don't have the money to buy it pure cash.. pero kaya naman ang monthly... nagtanong ako sa mga banks, some said hindi daw sila tumatanggap ng sa ibang tao bibili at sila magfifinance... either sakanila ka kumuha "repossessed cars" (in my opinion ayoko kumuha ng narepossess)

ask ko lang san pwde magpafinance ng ganito? sang bank if ever? yung mura sana ang interest? thanks guys!

bro pare tayo ng situation about a month ago, hehe about financing usally 30% dp ang required for 2nd hand cars for 2003 model and up, try mo sa rfc nag fifinance sila ng mga 2nd hand or insular bank mabilis din sila mag approved yun nga lang sakit sa ulo ng financing, dami cheche bureche, hehe better to find a car sa kakilala mo kasi on my experience takot yung owner sa financing, security purposes daw ), usually need ng mga regular reqt like itr, payslip etc, and post dated check, tapos need pa na dalin dun sa bank yung car for assessment daw, kaya mejo hassle talaga, if i were you try mo mag loan na lang ng cash sa bank or kaya cash na lang talaga, like what i did, kinuha ko na lang ng cash yung auto para wala na din masyado cheche bureche, but if you still want to try financing, na sasayo yan,

[robot.sonic]

ayaw mo kumuha ng brand new na compact? hyundai eon, kia picanto, chevy spark. etc.

[frequenzy]

actually madali na lang ngayon kumuha ng kotse unlike before. kung bank financing

1. finalize mo muna yung gusto mo kunin na make and model na auto. mapa brandnew man or 2nd hand.
2. punta ka sa banko para mag car loan, mas maganda dun sa banko na may account ka na para less requirements. sabihin mo yung gusto mo kuhanin na auto kung brand new niyan, meron na sila chart para sa interest rates at magkano kailngan na DP.
3. kung 2nd hand naman, most banks allows financing sa 5yrs old and below na car. minsan they will shoulder up to 70% and sagot mo na yung 30%.
4. mag aantay ka lang maaprove yung car loan mo. minsan with 24hrs approve na agad.

[garfield_08]

*TS: yung mga nagpopost sa Sulit na "open for financing" are usually (though not always) connected to car dealerships, karaniwan ahente sila. those cars being posted should be scrutinized thoroughly since you will most likely be buying a car not from the original owner. so if you're expecting that they will tell you the true history of the car, think again. its better to buy it directly from the owners themselves.

meron naman agencies and lending institutions that offer car loans. and since you already have 150k, you'll only need to loan the balance needed for you to purchase your preferred vehicle in cash. kapag sa lending naman, afaik they will require you to surrender the original OR/CR of the car as the collateral. pero ingat ka din. meron mga sindikato that poses as financing agency. safest pa din siyempre sa banks.