Buying a Repossess Car

[trojanguy]

Hi,

I would like to ask help, im going to buy a 2nd hand car a 2016 xtrail , the owner said (he have business shop) he paid all the balance from the bank and waiting for the release Chattel mortgage. the car is from iloilo and im in cebu. So he doesnt have the documents with him yet.

From my understanding i will need to get the ROD, Chattel and release frmo bank statement right? Do i need to take note anything?

[sirkosero]

That is not even a repossessed car!

Wait for the documents to clear under his name first. Save yourself the hassle of buying blind.

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[dr. d]

i agree.
hintayin mong mapa-sakanya ang mga dokumento, at nasa pangalan na niya ang sasakyan..
hintayin mong nasa pangalan na niya ang certificate of registration.

[trojanguy]

Does it take time to be release? Se are going to eastwest bank . He said to clear my doubts

[Ry_Tower]

Does it take time to be release? Se are going to eastwest bank . He said to clear my doubts

If it is really fully paid then it will not take too much time.

[Egan101]

If it is really fully paid then it will not take too much time.

The bank has to release some documentation to inform the storage facility to release it. I think buyers are given 48 hours to take out the vehicle once cleared.

[Ry_Tower]

The bank has to release some documentation to inform the storage facility to release it. I think buyers are given 48 hours to take out the vehicle once cleared.

Sounds about right sir.

[_Qwerty_]

change the title.. hindi repossess car yan..

[jnsk]

How about buying a repossessed car on a bayanseller? Ano need icheck sa documents?


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[ptrk]

How about buying a repossessed car on a bayanseller? Ano need icheck sa documents?


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OR/CR,release of chattel,secretary cert, IDs

[shadow]

Baka ma reposesed na then the owner decided he'll just pay the balance para hinde siya lugi and mabenta pa niya. Nakautwng ng pang bayad or something.


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[sirkosero]

Baka ma reposesed na then the owner decided he'll just pay the balance para hinde siya lugi and mabenta pa niya. Nakautwng ng pang bayad or something.


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You mean assune balance?

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[shadow]

You mean assune balance?

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OP said the owner paid the remaining balance from the bank so there's no "assumed balance" it will be a straight sale


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[dr. d]

in that case, someone get it asap.
there's a daily storage fee...

[Dark-scion]

Repossess car is yung mga galing sa bank na nahatak tama po ba?

[dr. d]

Repossess car is yung mga galing sa bank na nahatak tama po ba?

yun nga po.
mga hindi tinuloy ang monthly bayads, for a variety of reasons.

[ozzy0408]

good day po mga sirs, pahelp din po sana

may nagbebenta po na buy and seller online na sasakyan and nung naginquire ako thru chat, sabi yung unit is na-acquire nila sa bank at repo unit.. after 2 weeks pa daw po nila makukuha mga docs.

since medyo ok po price nya for a 2016 model, ano po dapat mga icoconsider ko when checking the car?

also i tried to verify yung plate number nya sa LTO (white plate) and ang nakakapagtaka lang po is last registration po sa LTO is also 2016. ibig sabihin po ba ay paso it ng tatlong taon?

[kapitan88]

3yrs ang initial registration ng mga cars.

good day po mga sirs, pahelp din po sana

may nagbebenta po na buy and seller online na sasakyan and nung naginquire ako thru chat, sabi yung unit is na-acquire nila sa bank at repo unit.. after 2 weeks pa daw po nila makukuha mga docs.

since medyo ok po price nya for a 2016 model, ano po dapat mga icoconsider ko when checking the car?

also i tried to verify yung plate number nya sa LTO (white plate) and ang nakakapagtaka lang po is last registration po sa LTO is also 2016. ibig sabihin po ba ay paso it ng tatlong taon?

[dr. d]

good day po mga sirs, pahelp din po sana

may nagbebenta po na buy and seller online na sasakyan and nung naginquire ako thru chat, sabi yung unit is na-acquire nila sa bank at repo unit.. after 2 weeks pa daw po nila makukuha mga docs.

since medyo ok po price nya for a 2016 model, ano po dapat mga icoconsider ko when checking the car?

also i tried to verify yung plate number nya sa LTO (white plate) and ang nakakapagtaka lang po is last registration po sa LTO is also 2016. ibig sabihin po ba ay paso it ng tatlong taon?

if i were me,
i'd wait for until the bayan seller gets his name as the owner of the car.
otherwise, you might have difficulty getting your name as the owner of your new acquisition.
rematado cars may need more documents than cars purchased from original owner-sellers.

[ozzy0408]

3yrs ang initial registration ng mga cars.

thanks sir, verify ko nalang po sa lto pag meron na po papeles nila

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if i were me,
i'd wait for until the bayan seller gets his name as the owner of the car.
otherwise, you might have difficulty getting your name as the owner of your new acquisition.
rematado cars may need more documents than cars purchased from original owner-sellers.

salamat sir, antayin ko nalang po muna makumpleto siguro yung sinasabi nilang papeles