Interesting: Kia Rio tops the Commonly Repossessed Vehicles

[noitimed]

at least according to this blog:

for november 2015
Link
top 5: Rio, Vios, Accent, Fiesta, Montero


and also for year 2014
Link
top 5: Rio, Fiesta, Accent, Adventure, Escape

[screws]

hardly surprising. kia is very aggressive in marketing this car and the picanto. promo after promo, low dow after low down. many people will think they can afford it until they start owning it.

im also not surprised that theres so many monteros. people biting more than they can chew.

another thing that tells me about this is psbank is very loose in their approvals. the volume of repossessed vehicles by them is staggering.

[minicarph]

Maybe. They should investigate these banks for very lenient approval procedures. Delikado kasi yan ginagawa nila

[kinyo]

walang data sa Metrobank?

[urbanmetal]

dirty money-sucking deals...

[dr. d]

is it the car..? is it the company..? is it the "quality" of the buyer...?

[1D4LV]

is it the car..? is it the company..? is it the "quality" of the buyer...?

several factors:

a. the brand/car.....the marketing and sales efforts like lowest DP can be very tempting even to those people who may not be earning that much.
b. the banks... they easily approve of a loan, just because they make money out of it, but they know that pag di nakabayad, hatak naman agad. no due diligence ika nga, dahil ang bottomline, the banks will not lose.... they make money if the client can pay, and can still make money pag nahatak na...

both reasons go hand in hand..

this is the reason why traffic is really that bad....