Auto finance or Bank loan

[clayman688]

newbie here....kung bank vehicle financing:
who will process for LTO? kanino nakapangalan ang OR/CR? should i be given a copy of OR/CR? kanino follow up ang LTO plates and stickers? salamat po.

[_Qwerty_]

usually sa mga new cars kasama na 3 years LTO registration..kahit loan or cash basis.. dealer na mag pro process non..

kung bank financing.. nakapangalan sayo yung OR/CR pero yung CR may naka annotate na "Encumbered to <bank name>".. pag fully paid na.. pwede nang patanggal yung annotation..

photocopy lang nang OR/CR ang bibigay sayo..

LTO plates and stickers.. kukunin mo yan sa dealer pag avaiable na..

newbie here....kung bank vehicle financing:
who will process for LTO? kanino nakapangalan ang OR/CR? should i be given a copy of OR/CR? kanino follow up ang LTO plates and stickers? salamat po.

[clayman688]

thanks for the reply. that means dalawa pala ang kukulitin ko....the dealer for the plates/sticker...and the bank for a photocopy of OR/CR.

[Retz]

Check and compare the interest rate per annum. Just to verify if mataas ang interest or tama lang para sa auto mo.

[victorevolution]

bank loan - chattel mortgage, the bank never owns your car(hence they can never take your car at will except when you defaulted from paying) and the bank must sell it through public auction(which they are also the bidders) then and there sell it again

auto loan finance- sounds new to my ear- parang lease to own ba ito? kasi ang alam ko yung mga independent finance comapany(yung maliliit) ganyan ang ginagawa- kung lease to own ito, the auto finance company is the one who owns your car(be careful with this one daming sira ulong auto finance company dito) and not you- only advantage is mas maliit ang interest nila kasi small players lang sila

in house financing is same as bank loan

[sedemocin]

Fact:Bank finance
= lesser monthly amortization
Initial Cashout = at least 20% of the total amount of the SRP of your dream car, the higher Cashout the lesser the monthly amortization,pde pa umabot ung monthly mo ng 5k depende sa cashout mo


Inhouse
= higher monthly amortization
Initial cashout = pde ka makakuha ng 30k downpayment depende sa promo,


at sinasabi lang ng Inhouse na free ito
- LTO, chattel, INSURANCE
- sinasabi lang nilang free yan to attract buyers,pero kinukuha nila ito sa monthly mo kaya di halata


Standard Freebies
- umbrella, keychain, seatcover, Early Warning device, Tint, mat


kaya may mga nahhatak na sasakyan kasi mataas ung monthly amortization nila

makitanung na po,,gaya ni TS,nag babalak din po ako kumuha ng installment na brandnew car,,palit naman ako ng bago,,di pa ako nakakagamit ng bago talaga,,ask ko po sana kung ano po ang requirements pag bank finance?at lahat po ba ng model un?paturo naman po kung paano ang sistema ng pag aaply ng carloan via bank finance

[Janah]

Same lng halos, kaso sa bank malaki ung downpayment. But meron ako nakita na lending company, which is Capitalife Lending Inc. Kumuha ko ng car loan sakanila.. meron na din silang mga cars na inooffer and No downpayment pa.. ung car na kinuha ko is Chevrolet Spark 2011, almost 15k lng ung month payment ko for 3yrs. Tapos included na dun ung Insurance saka LTO reg for 3 yrs.

[seankenzi]

we tried in house financing...grabe taas ng c.m..buti na lang di namin tinuloy

ano po ba yung c.m.