Question on BPI Auto Loans

[archielew]

Hi All!

I recently discovered BPI's promo today, that is their FREE Insurance with Acts of Nature for a Brand New Car Financing. I really wanted to grab this offer, but I have a dilemma in mind - BPI's policy that borrowers should at least be 2 years employed under his/her current employer.

Now I'm a permanent employee of an IT services company for 7 months already. Prior being in this company, I worked as a consultant to BPI for 3 years, and a regular employee for 1 year at another IT services company. So in short, this is my third employer, but I have been employed without fail for the past 4years+months. (Natural lang sa mga IT people na magpalipat lipat ng company because employers tend to pirate them by offering HIGHER salary package just to get work force).

My question is, mahihirapan ba ko ma-approve sa BPI just because 7 months pa lang ako sa current employer ko? I'm not sure with BPI because I haven't tried it yet. However, na-approve naman ako ng autoloan sa dalawang magkaibang Banks. (PS and Eastwest)

Is there anyone from BPI here in tsikot who could somehow assist me in this matter?

Thanks!

[boytsiks]

Hi All!

I recently discovered BPI's promo today, that is their FREE Insurance with Acts of Nature for a Brand New Car Financing. I really wanted to grab this offer, but I have a dilemma in mind - BPI's policy that borrowers should at least be 2 years employed under his/her current employer.

Now I'm a permanent employee of an IT services company for 7 months already. Prior being in this company, I worked as a consultant to BPI for 3 years, and a regular employee for 1 year at another IT services company. So in short, this is my third employer, but I have been employed without fail for the past 4years+months. (Natural lang sa mga IT people na magpalipat lipat ng company because employers tend to pirate them by offering HIGHER salary package just to get work force).

My question is, mahihirapan ba ko ma-approve sa BPI just because 7 months pa lang ako sa current employer ko? I'm not sure with BPI because I haven't tried it yet. However, na-approve naman ako ng autoloan sa dalawang magkaibang Banks. (PS and Eastwest)

Is there anyone from BPI here in tsikot who could somehow assist me in this matter?

Thanks!

Three months pa lang ako sa current employer ko nung nag-apply ako ng car loan sa BPI. I was approved the very same day. IMO, as long as meron ka nung documents na hihingin nila (I think case by case yung documents na hinihingi nila,eh), maapprove ka kagad. Good luck bro

[archielew]

Three months pa lang ako sa current employer ko nung nag-apply ako ng car loan sa BPI. I was approved the very same day. IMO, as long as meron ka nung documents na hihingin nila (I think case by case yung documents na hinihingi nila,eh), maapprove ka kagad. Good luck bro

pag ba denied yung loan application tatawagan ka din para sabihin sayo? saka yung reason?

[1D4LV]

on the approval, it all boils down to the account/credit officer handling your application.

[_Qwerty_]

tatawagan ka to tell you na denied... pero hindi sasabihin yung reason.

pag ba denied yung loan application tatawagan ka din para sabihin sayo? saka yung reason?

[archielew]

on the approval, it all boils down to the account/credit officer handling your application.

sir pa-elaborate naman po kung pwede pa. hehe. thanks po/

tatawagan ka to tell you na denied... pero hindi sasabihin yung reason.

Ganun pala. Iniisip ko kasi sakaling madeny, pwede pa kaya pa reconsider, like pasa more supporting docs, etc. Anyway, di pa naman ako denied, kaka-apply ko lang kahapon e. Hintay hintay na lang muna. thanks

[1D4LV]

ganito yan....



you are a permanent employee, and you are earning let's say 80k/month, which makes you a capable payer, with no risk of having to be out of job because of your tenure as a permanent employee. then what would be the reason or factor why they need someone who is more than 3 years in the job?

the automobile loan market these days are very competitive. i am sure that the account officer has his/her own quota to fill. if he/she losses you as an account, it will be their loss and the gain of other competitors.

[Noel Salisipan]

Hi All!

I recently discovered BPI's promo today, that is their FREE Insurance with Acts of Nature for a Brand New Car Financing. I really wanted to grab this offer, but I have a dilemma in mind - BPI's policy that borrowers should at least be 2 years employed under his/her current employer.

Now I'm a permanent employee of an IT services company for 7 months already. Prior being in this company, I worked as a consultant to BPI for 3 years, and a regular employee for 1 year at another IT services company. So in short, this is my third employer, but I have been employed without fail for the past 4years+months. (Natural lang sa mga IT people na magpalipat lipat ng company because employers tend to pirate them by offering HIGHER salary package just to get work force).

My question is, mahihirapan ba ko ma-approve sa BPI just because 7 months pa lang ako sa current employer ko? I'm not sure with BPI because I haven't tried it yet. However, na-approve naman ako ng autoloan sa dalawang magkaibang Banks. (PS and Eastwest)

Is there anyone from BPI here in tsikot who could somehow assist me in this matter?

Thanks!

3yrs term ng loan ang requirement nila para maka-avail ka sa first year free insurance, less than that wala pa ring free insurance.

Yung tungkol sa approval, dipende yan sa salary o financial statement mo.

Goodluck!

[archielew]

Thanks boytsiks, ginanahan ako dun ah! Punta ko agad sa bpi sa monday! Hahaha
Noel, thanks sa advise, ok lang 5 years ko naman ifinance e, complete naman requirements ko.

Ang tanong na lang ngayon, reasonable naman ba ang pricing nila n insurance, and ok naman ba sila pagdating sa claims? Nakalagay kasi sa terms ng promo, free yung 1 year, pero auto renew ka sa kanila ng insurance. Meaning, sa kanila lang talaga ang insurance mo for the whole financing term.

[xwangbu]

Ang tanong na lang ngayon, reasonable naman ba ang pricing nila n insurance, and ok naman ba sila pagdating sa claims? Nakalagay kasi sa terms ng promo, free yung 1 year, pero auto renew ka sa kanila ng insurance. Meaning, sa kanila lang talaga ang insurance mo for the whole financing term.

kung 5yrs loan mo sa kanila - 4 years kang kukuha ng insurance sa kanila.
sa bpi din ako nag-loan last year -avanza 2012 A/T. eto yung premium for the first year na free
insurance:

21,725.62

yung premium ko ngayon - with 10% depreciation: 20,166.26

maganda naman coverage:

VTPL - BI 500,000.00
VTPL - PD 500,000.00
UPPA 350,000.00
deductible - 0.75% ng car price.

di pa ko nagke-claim (fortunately ) kaya di ko masasabi kung madali.

[_Qwerty_]

sa sample sa taas ni xwangbu.. yung 2nd year premium nya. and the coverage of 500T.. kung sa labas nya kinuha yang insurance kahit w/ AOG na.. hindi lalampas nang 15T ang premium nya.. so don pa lang overpriced na nang more than 5T yang sa bpi... 2nd year pa lang yan.. eh 4 years loan nya..

[archielew]

kung 5yrs loan mo sa kanila - 4 years kang kukuha ng insurance sa kanila.
sa bpi din ako nag-loan last year -avanza 2012 A/T. eto yung premium for the first year na free
insurance:

21,725.62

yung premium ko ngayon - with 10% depreciation: 20,166.26

maganda naman coverage:

VTPL - BI 500,000.00
VTPL - PD 500,000.00
UPPA 350,000.00
deductible - 0.75% ng car price.

di pa ko nagke-claim (fortunately ) kaya di ko masasabi kung madali.

Sorry sir, di ko gets yung deductible

sa sample sa taas ni xwangbu.. yung 2nd year premium nya. and the coverage of 500T.. kung sa labas nya kinuha yang insurance kahit w/ AOG na.. hindi lalampas nang 15T ang premium nya.. so don pa lang overpriced na nang more than 5T yang sa bpi... 2nd year pa lang yan.. eh 4 years loan nya..

I see. Thanks sa input sir, laking tulong nito sa pagpaplano!

[xwangbu]

^Participation fee yung deductible

Bnew price nung unit ko last year is 868k. Ngyon 782k na lng insured value.

Me maganda ding offer sa ken dati psbank pero meyo convenient para sa ken bpi kaya dun ako kumuha.

[xwangbu]

Oo nga pala - di sila auto renew - Pag naalala lang nila. Hehehe.

[archielew]

Oo nga pala - di sila auto renew - Pag naalala lang nila. Hehehe.

Oh? Pano yun? Kasi sa terms nila ng Promo na nabasa ko, You have to affix your signature that you agree to auto renew your insurance under BPI-MS for the whole financing term... so you mean may butas to? hehehe.

[xwangbu]

I'm just kidding with that sir. Ako kasi nagremind sa knila na end na 1st yr ko bago nila binigay quotation

Wala ka din namang lusot kahit late nila irenew.

Try mo muna pa-quote sa psbank. Me mabait na tsikoteer dito. Check mo lang dun sa car loan thread.

[archielew]

I'm just kidding with that sir. Ako kasi nagremind sa knila na end na 1st yr ko bago nila binigay quotation

Wala ka din namang lusot kahit late nila irenew.

Try mo muna pa-quote sa psbank. Me mabait na tsikoteer dito. Check mo lang dun sa car loan thread.

Thanks! Pa-PM naman ng link.

[xwangbu]

^ pm sent.

[archielew]

bakit sa website ng BPI sabi 1 day approval lang pag nag-apply ng autoloan? e dumerecho na ko sa banko mismo para mag-apply hanggang ngayon wala pa feedback? Nakakainip

[stavros]

bakit sa website ng BPI sabi 1 day approval lang pag nag-apply ng autoloan? e dumerecho na ko sa banko mismo para mag-apply hanggang ngayon wala pa feedback? Nakakainip

Mas bibigyan nila priority yung sa tingin nila makakabayad sa utang. :D