Auto financing

**Ofw29** · January 17th, 2016 02:46 AM

I did my research. Just correct me if im wrong. Mas mababa tlga sa bank compared sa in-house. But na decline ako sa bank because of my bad record 10 long yrs back... So no choice but to go with the inhouse...Do you think its a logical choice?

**Ofw29** · January 17th, 2016 03:45 AM

Hello guys need your advice and inputs...sorry dto kna lng ilagay at related nman sa auto financing...

Last dec umuwi ako sa pnas and excited kc akala ko mkkuha kna ang new car na gsto ko sna pra sa family ko.
Nag aplay ako sa metrobank, confident na ma approve kaagad. kumpleto nman sa papers pati mga remittances, payslips at COE... tpos nkpag pareserve na din kmi ng 5k sa mitsu for the Mirage G4 GLS cvt...
then boom, me record daw ako sa CMAP dhil me loan daw sa psbank... aminado nman ako dun and that was 10 yrs ako pro i believe na settle kna un...

I really want to have a new car for my wife and kids so no choice I went to a dealership... by the way ngbago na isip ko and i prefer to get the honda city cvt. i went to a dealership and they offered me the all in promo... 50k down and 16,400+ for 60 months. here is my question. sbi ng SA iaplay nya raw ako sa mga banks, rcbc at ucpb... approved nman daw sa RCBC kso nkta nga daw na me bad record ako so d daw pmayag kya ang ngyari ang offer sa akin ni SA ay 90,000 down sa halip na 50,000. pro bababa ang monthly ko ay maging 15,800 na lng. do you guys think its reasonable ba? ngtataka lng ako dba me record ako sa cmap, how come na approve ni rcbc ?

by the way, can somebody enlightened me. mgkaiba ba ang dealership in house financing sa snsabi ng SA ko? bkt sa banko prin sila humuhiram at humihingi ng approval?

sa mga katulad ng case ko na me bad record at nsa list ng CMAP, do you think this is the only logical choice that i have considering nga na hndi ako ppwde sa banko.

thank you very much, your opinions are highly appreciated.

**Ronald S.S.** · January 17th, 2016 05:08 AM

Hi OFW29,

Kuha ka ng certificate of full payment sa PS Bank, then i submit sa CMAP para malinis ang name mo.
Do you think, you or your wife really need a brand new car? If yes, that would be nice.

Mai share lang: Yung kapatid kong seaman, naikwento niya sa akin na bibili ng brand new car kasi ayaw sa car ko, dahil luma na. Dinis-courage ko siya, ang sabi ko, infatuation lang yan at mauuwi sa momentary happines. bibili ka ng brand new car, tapos mabubulok lang sa garahe, tulad ng car ko dahil wala naman talagang paggagamitan. Ang sabi ko, ang bakasyon mo ay 2 weeks lang, then back to work na. Ang kotse, kahit na di tad-tad ang engine kapag naluma na sa model, di na maibebenta ng mahal.Considering di mo ibebenta, eh di ganun pa rin, luma na ang car mo. It's better na mag invest ka sa lupa, at bilhin mo ang car ko...Yun, nakinig naman sa akin at very happy dahil triple na ngayon ang price ng nabili niyang mga lupa.

Regards,
Ronald

**Gecko Guy** · January 17th, 2016 05:17 AM

Originally Posted by Ofw29

I did my research. Just correct me if im wrong. Mas mababa tlga sa bank compared sa in-house. But na decline ako sa bank because of my bad record 10 long yrs back... So no choice but to go with the inhouse...Do you think its a logical choice?

No, unless ok sa iyo yung sobrang taas na interest at gustung-gustong-gusto mo ng makaroon ng car.

**boomshine** · January 17th, 2016 12:38 PM

Originally Posted by Ofw29

I did my research. Just correct me if im wrong. Mas mababa tlga sa bank compared sa in-house. But na decline ako sa bank because of my bad record 10 long yrs back... So no choice but to go with the inhouse...Do you think its a logical choice?

Halos twice ng interest ng bank ang sa inhouse so for me hindi sya wise move, ang kinaganda lang yata sa inhouse is mababa ang down payment sa bank kasi minimum is 20%

**Ofw29** · January 17th, 2016 10:49 PM

Originally Posted by Ronald S.S.

Hi OFW29,

Kuha ka ng certificate of full payment sa PS Bank, then i submit sa CMAP para malinis ang name mo.
Do you think, you or your wife really need a brand new car? If yes, that would be nice.

Mai share lang: Yung kapatid kong seaman, naikwento niya sa akin na bibili ng brand new car kasi ayaw sa car ko, dahil luma na. Dinis-courage ko siya, ang sabi ko, infatuation lang yan at mauuwi sa momentary happines. bibili ka ng brand new car, tapos mabubulok lang sa garahe, tulad ng car ko dahil wala naman talagang paggagamitan. Ang sabi ko, ang bakasyon mo ay 2 weeks lang, then back to work na. Ang kotse, kahit na di tad-tad ang engine kapag naluma na sa model, di na maibebenta ng mahal.Considering di mo ibebenta, eh di ganun pa rin, luma na ang car mo. It's better na mag invest ka sa lupa, at bilhin mo ang car ko...Yun, nakinig naman sa akin at very happy dahil triple na ngayon ang price ng nabili niyang mga lupa.

Regards,
Ronald

thank you very much sir Ronald... sa akin kc i have 2 kids and my wife is the only one who takes care of them... i had an old car also before but im also thinking of their safety specially mag travel sila... mas reliable kc pag bago ang ssakyan mo considering na sila lng 3 ang nabiyahe sa daan...giving me the peace of mind kc malayo ako sa knila...

**ramiel17** · March 11th, 2016 12:04 AM

Re:Bank auto loan, I know its better if you get your loan from them vs in house financing. My question is, if you were approved by the bank for the loan, how can you negotiate from the dealer the added charges w/c are Insurance, Lto and CM or this will be also handled by the bank? Not familiar bec. my last auto loan was done by in house financing; also haven't inquired yet from any bank(probably will do but i just want a heads up).

Thanks!

**markkevin** · March 13th, 2016 11:34 PM

Same question din po ako sa taas.

**momo23** · March 14th, 2016 12:38 PM

Originally Posted by ramiel17

Re:Bank auto loan, I know its better if you get your loan from them vs in house financing. My question is, if you were approved by the bank for the loan, how can you negotiate from the dealer the added charges w/c are Insurance, Lto and CM or this will be also handled by the bank? Not familiar bec. my last auto loan was done by in house financing; also haven't inquired yet from any bank(probably will do but i just want a heads up).

Thanks!

Try BDO and Security Bank. They have a free 1 yr insurance and chattel mortgage promo. Regarding the LTO registration, you can haggle it from the dealer.

**ramiel17** · March 14th, 2016 12:39 PM

Originally Posted by momo23

Try BDO and Security Bank. They have a free 1 yr insurance and chattel mortgage promo. Regarding the LTO registration, you can haggle it from the dealer.

Thanks!

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