Bank Loan same as Cash purchase

[IceT]

Hi,

Here's a thought. Isn't buying a car via a bank loan, from the point of view of the Casa, same as buying in cash? The bank will pay the Casa in whole, right? Doesn't this entitle us a better discount?

[_Qwerty_]

yes it is considered as cash purchase..

Casa dont give big discounts / freebies on cash purchases because they dont earn that much. They earn more from in-house financing because of the big interest.

[shadow]

correct ang meron discount eh yun bank, dahil meron pang less sila as agent fee or something sa dealer.

[IceT]

yes it is considered as cash purchase..
Casa dont give big discounts / freebies on cash purchases because they dont earn that much. They earn more from in-house financing because of the big interest.

I understand that. Kaya din I'm opting for the bank loan versus the in-house. Ang medyo malabo lang para sa akin ay kung pwede pa ako humingi ng addtional discount.

correct ang meron discount eh yun bank, dahil meron pang less sila as agent fee or something sa dealer.

Does this mean, that I should talk to Casa first before the bank? I should also assume that I will be paying cash while negotiating with them? Afterwards, I will ask the bank for a loan based on the discounted price already? Pasensya na kung maraming tanong. Gusto ko lang makakuha ng best price at hindi malugi dahil sa hindi ako nagtanong o nag-negotiate ng tama. Thanks.

[shadow]

nope, wala ka pakialam sa usapan ng banko ang dealer. yun discount na sinasabi ko bank makikinabang nun...what ever discount the bank gets from the dealer kita na nila yun, and besides bank directly makikipagusap sa dealer about sa payment

[IceT]

*Sir Shadow, Tama ba intindi ko? Ang bangko na ang nakikipagusap sa dealer for the discount? Pwede ko naman gawin yun. Para ako ang makikinabang ng discount? May kita naman ang bangko sa car loan ko eh. TIA.

[_Qwerty_]

sa experience ko.. ako mismo nakipag haggle sa mga dealers kung magkano discount and ano freebies.. basta sasabihin mo lang sa kanila na you'll be paying via bank loan.. pag nakapili ka nang ok na deal.. tsaka mo papa aprubahan sa banko.. any discounts babawas nila sa SRP yun.. so mababawasan ang i lo loan mo.. paglabas nang PO sa banko.. diretso dealer na yun.. with your downpayment and payment for other fees like LTO kung hindi free, insurance kung hindi free and chattel mortgage and any additional accessories na sinabay mo sa purchase.. tapos bibigay mo lang lahat yun don sa dealer.. then uwi mo na yung oto..

[shadow]

*Sir Shadow, Tama ba intindi ko? Ang bangko na ang nakikipagusap sa dealer for the discount? Pwede ko naman gawin yun. Para ako ang makikinabang ng discount? May kita naman ang bangko sa car loan ko eh. TIA.

like what qwerty said, pwede naman sa pwede but most often than not hinde naman nagbibigay ng discount ang dealers...especially sarili mong bank loan ang gagamitin ang hinde in house. and usually lang ma haggle mo is freebies....

[lancy09]

Same here. Ako nakipag-haggle sa dealer. Just tell the dealer na you will pay thru PO. Once you get settled with the price and discount, PO is just a phone call away. They will fax it directly sa dealer.

[yebo]

same here. went to the bank first and got myself pre-approved for the loan. i was a long time customer so i even asked the bank to get it done the same day hehehe! then same morning i went to the dealer, told them i will get a car. it just happened that they had the model and color i wanted just arrived that day so they said they will have it ready the next day (may rustproofing pa na gagawin kasi). i asked for freebies, free registration, insurance and a P50k discount (repeat customer na e). i had no plans of getting their "upgrades" as i know mas mura sa banawe. they computed the price after the discount, called the bank what amount to put in the PO, picked up the PO from the bank, got the vehicle from the dealer.

medyo matrabaho on my part because i had to go 3x to the bank pero it definitely was worth the lower interest rate. i compute i will be saving more than P320k in the 3 years i will be paying for it against the "in-house" financing of the dealer.