OFW needs help buying a new car

**techconnect** · March 15th, 2016 03:51 AM

Hi tsikoteers!

I need some advice in buying a new car. My partner is an OFW in Europe for 4 years while i'm here in the Philippines taking care of our son. Not yet married but we've been together for 10 years now. We want to get a car before he comes home for a vacation this April 2016.

Has anyone have personal experience or knowledge on how to go about this? I already tried talking with our bank (Metrobank) but they didn't even give me a car loan form or whatever, after waiting for almost 30 minutes to be attended, they just said to let my partner do the loan when he's already here. The problem with that is, we need to get the car before he gets here.

I want a bank P.O., but if someone can help me with this i'm willing to do this "in-house" as long as I get approved and get the car released ASAP.

BTW i'm planning to get an MU-X 3.0 AT 4x2 * 20% Down 5 years to pay. May promo kasi ang Mu-X till end of march na low down payment almost 200k+ lang

Thank you

**JCPR20** · March 15th, 2016 05:03 AM

Originally Posted by techconnect

Hi tsikoteers!

I need some advice in buying a new car. My partner is an OFW in Europe for 4 years while i'm here in the Philippines taking care of our son. Not yet married but we've been together for 10 years now. We want to get a car before he comes home for a vacation this April 2016.

Has anyone have personal experience or knowledge on how to go about this? I already tried talking with our bank (Metrobank) but they didn't even give me a car loan form or whatever, after waiting for almost 30 minutes to be attended, they just said to let my partner do the loan when he's already here. The problem with that is, we need to get the car before he gets here.

I want a bank P.O., but if someone can help me with this i'm willing to do this "in-house" as long as I get approved and get the car released ASAP.

BTW i'm planning to get an MU-X 3.0 AT 4x2 * 20% Down 5 years to pay. May promo kasi ang Mu-X till end of march na low down payment almost 200k+ lang

Thank you

If you intend to do it in-house, you should go to the dealer of your choice. You may be the one to sign application documents as your partner is not in PH and therefore your credit standing will be evaluated and not that of your partner. You may also want to post this in the MU-X forum as you mentioned you intend to buy a MU-X. I know some sales agents are active in this forum: https://www.tsikot.com/forums/isuzu-...neration-95615 Good Luck

**StockEngine** · March 15th, 2016 05:21 AM

Metrobank already declined your application. This means you cannot make a loan because of your current financial capacity.

Your ofw partner or his/her kin with good bank records or credit record can apply for the loan.

**techconnect** · March 15th, 2016 07:14 AM

His siblings are all abroad, no parents either. And unfortunately i need to quit my job when he left to take care of our son, so no income from me except for his remittance. I agree that the bank is gauging my financial capacity since i'm the one applying for the loan, so is there chance that I can apply "on his behalf" ? Has anyone ever done this?

**dr. d** · March 15th, 2016 07:25 AM

i don't think anyone will give you a loan "in your partner's behalf".
because legally, he and you are not responsible for each other's acts.
and you don't have a job or legal source of income..
and... if i may say so... you do not need that car when he arrives. you only want one. hiring a car will probably have the same transport effect on you both.
he can apply for the loan himself, and make you his legal representative, when he comes over.
good luck.

**techconnect** · March 15th, 2016 07:55 AM

Originally Posted by dr. d

i don't think anyone will give you a loan "in your partner's behalf".
because legally, he and you are not responsible for each other's acts.
and you don't have a job or legal source of income..
and... if i may say so... you do not need that car when he arrives. you only want one. hiring a car will probably have the same transport effect on you both.
he can apply for the loan himself, and make you his legal representative, when he comes over.
good luck.

Dr D, I respect your opinion but you simply cannot tell a person if they need or just want something if you don't know the circumstances. Also, I said that we want to get a car, but NEED to have it before he gets here. There is also this thing called special power of attorney, it's just that i need more input about it when it comes to car loans.

**dr. d** · March 15th, 2016 08:10 AM

Originally Posted by techconnect

Dr D, I respect your opinion but you simply cannot tell a person if they need or just want something if you don't know the circumstances. Also, I said that we want to get a car, but NEED to have it before he gets here. There is also this thing called special power of attorney, it's just that i need more input about it when it comes to car loans.

the power of attorney is a legal document that a person files, to give another person the authority to represent him in certain interests. ask the DFA if your partner can do this in the philippine embassy or consulate in the country he is in.
i apologize if you felt insulted by my comment on need and want. i was rationalizing. i hope everything turns out in your favor.

**techconnect** · March 15th, 2016 08:27 AM

No worries, actually i'm doing some research right now and i think this is achievable. I just hope someone who has already done it can give some more info before I go to the bank tomorrow.

**Yatta** · March 15th, 2016 08:47 AM

Mahirap, not even sure if any creditor will remotely allow it. As an example I bought our SUV via inhouse financing as its the easiest albeit more expensive route. My wife and I just arrived from abroad after years of schooling so wala kami credit records. We have a joint bank account as well as separate savings accounts but still very little financial records. I do have a job but the pay barely reaches the cutoff sa car financial calculator ng bank. My wife back then only teaches part-time. But between our savings we could easily just pay for the car in cash, but we also have other stuff to pay for. So my mother abroad agreed to be the guarantor. She has a monthly pension from SSS and GSIS and can send remittance so no problem with income. Pero still the SA and bank opted to have my wife co-sign the papers.

Even with an SPA, the best that can happen is let you fill out forms. Ayaw ka bigyan ng form ng bank kasi alam nila made-deny lang at sayang ang oras na mag-backgorund at credit check.

**antonath** · March 15th, 2016 12:00 PM

Try inhouse. Ikaw ang mag loan, proof of income: remittances ( 3x ng monthly ammortization ng car ang narereceived mo monthly), atleast 3 months bank statement. Tapos kuha ka ng 1 co maker : with good credit rating..