Auto loan disapproved! help!

[mabuhay]

monitor mo lang yong cc mo para hindi ka bili ng bili at pagdating ng bill mo saka mo bayaran ng cash

- - - Updated - - -

monitor mo lang yong cc mo para hindi ka bili ng bili at pagdating ng bill mo saka mo bayaran ng cash

- - - Updated - - -

monitor mo lang yong cc mo para hindi ka bili ng bili at pagdating ng bill mo saka mo bayaran ng cash

[Flip]

control lang naman kelangan sa spending using cc. in my case, ginagamit ko lang yung cc as substitute sa readily available na cash to get freebies and build good credit history which is important nga daw sa CI at loans. iwas lang sa mga merchants na nag surcharge and pay always in full and on time. makaka save ka rin sa mga rebates (around php90 sa gas/month usual savings ko) and 0% installments provided mapa waive mo yung annual dues mo otherwise parang quits lang.

[reactor]

BPI kasi is more on brand new cars. try mo mag apply sa mga bank na nag accept used car loan like ama at eastwest. ang alam ko ama ang mas madali kausap sa used car loan kasi yan ang target market nila unlike sa iba banks brand new lang ang accept nila for a loan. mabilis ang loan sa BPI kung existing client ka nila kasi hawak nila ang account history mo pero pang brand new cars pa din ang tatanggapin nila.

[ajkotse]

BPI kasi is more on brand new cars. try mo mag apply sa mga bank na nag accept used car loan like ama at eastwest. ang alam ko ama ang mas madali kausap sa used car loan kasi yan ang target market nila unlike sa iba banks brand new lang ang accept nila for a loan. mabilis ang loan sa BPI kung existing client ka nila kasi hawak nila ang account history mo pero pang brand new cars pa din ang tatanggapin nila.

I'm planning to avail the personal loan nalang siguro... since tama din yung sinabi nung isa nagcomment na maliit lang kasi uutangin ko kaya ayaw nila... I know personal loans have bigger interest, "since wala sila mahahatak if ever hindi makabayad" pero kung 150k lang naman uutangin ko, maliit parin naman ang monthly ko at kayang kaya parin... Pupunta ako later sa BPI to avail personal loan.. gusto ko talaga sa BPI since dun ako may account at ayoko na maglipat lipat ng cash kung san ako makakaloan na bank.. pero kung hindi parin ma-approved sa BPI I guess I have no choice but to try other banks... "Pero I'll still try sa ibang banks since baka makakuha ako better deals hehehe"

[KERSMcRae]

*TS,
tama ang sabi ng iba re:

1. credit history. try to have some bills na nakapangalan na sayo. meron dyan yung postpaid cp, P350/mo lang.
2. credit card. tulad mo din ako nung wala pa ko pamilya. bandang huli, nagsisi ako kung bakit di ko tinanggap yung inoffer sakin na cc before . Pag may cc ka, make sure meron kang self-control and ALWAYS pay your bills in full & on time.
3. loan amount. at least 200K yata ang min. for a car loan (not sure).
4. car brand. pwede rin na specific lang sila sa brand na ka-tie up ng bank.

5. personal loan options. try BDO. pag kulang, add mo SSS/Pag-ibig loans kung hindi mo pa nagamit. Sabi nila, hindi maganda ang madami utang. On the other side, you NEED it to build a good credit line/history.

[ajkotse]

*TS,
tama ang sabi ng iba re:

1. credit history. try to have some bills na nakapangalan na sayo. meron dyan yung postpaid cp, P350/mo lang.
2. credit card. tulad mo din ako nung wala pa ko pamilya. bandang huli, nagsisi ako kung bakit di ko tinanggap yung inoffer sakin na cc before . Pag may cc ka, make sure meron kang self-control and ALWAYS pay your bills in full & on time.
3. loan amount. at least 200K yata ang min. for a car loan (not sure).
4. car brand. pwede rin na specific lang sila sa brand na ka-tie up ng bank.

5. personal loan options. try BDO. pag kulang, add mo SSS/Pag-ibig loans kung hindi mo pa nagamit. Sabi nila, hindi maganda ang madami utang. On the other side, you NEED it to build a good credit line/history.

Guys just an update... hindi pala dahil sa credit history,financial statement ako nadisapproved. hindi pala sila nagloloan ng KIA at Hyunda Brands Kaka-email lang sakin ng BPI. Pero baka magpersonal loans nalang ako... less hassle pa at makakapag-negotiate pa ako sa price since cash ko siya bibilhin sa buyer...

Still having second thoughts narin if I will go for Hyundai Brand...

I will try to apply for a personal loan... will update this thread if magkano kaya nila ipautang sakin.

Salamat ng marami sa tulong guys! Much appreciated!!!

[999]

Guys just an update... hindi pala dahil sa credit history,financial statement ako nadisapproved. hindi pala sila nagloloan ng KIA at Hyunda Brands Kaka-email lang sakin ng BPI. Pero baka magpersonal loans nalang ako... less hassle pa at makakapag-negotiate pa ako sa price since cash ko siya bibilhin sa buyer...

Still having second thoughts narin if I will go for Hyundai Brand...

I will try to apply for a personal loan... will update this thread if magkano kaya nila ipautang sakin.

Salamat ng marami sa tulong guys! Much appreciated!!!

...you may try other banks like PSBAnk..,..i think they do approve KIA and HYUNDAI brands...since my colleagues got their units tru psbank from my account officer..

[vinj]

Re: personal loans, be wary that the rates for these are higher since the credit risk of the bank for this is usually high and amounts are smaller.

I'd suggest you try first talking to PSBank and BDO. RCBC Savings also has for second hands (up to three years). PSBank also has a warehouse full of repoed small cars, try dropping by and checking it out. Just be wary but you'll never know if you can find a good deal. You can google their listing and they can finance the purchase.

[mabuhay]

+1kay sir vinj

[1D4LV]

+1kay sir vinj

Try also AMA Bank.
Pwede sila maski second hand or brand new cars.

[ajkotse]

I agree kay vinj!

problem is 2nd hand repossesed cars lang ang niloloan ng PSbank.. lets say I'm getting vios 08. Sa bank 400k siya (with the risk of baka binaboy ng previous owner dahil alam nila mahahatak na) compare sa 350k pagbinili mo sa private owner. 50k ang difference. kahit mas maliit ang interest ng 2nd hand repossesed cars, mas malaki yung risk na baka nga binaboy atska hindi mo pa alam history ng car. kung magpepersonal loan ako... I can stretch out my budget ng +50k sa interest... so Okay lang din kahit mas mahal ang interest. at least sa private owner ka pa makakabili, makakahaggle ka ng price at alam mo history ng car :D

Most private owners ayaw ng financing since gusto nila cash nila makukuha.. kung papayag naman sila sa financing madalas tinataasan price or hindi ka na makatawad dahil nga sa abala at madami pa kelangan gawin...

Siguro for now I'll pursue personal loans... :D

[Gumusut_Amige]

I agree kay vinj!

problem is 2nd hand repossesed cars lang ang niloloan ng PSbank.. lets say I'm getting vios 08. Sa bank 400k siya (with the risk of baka binaboy ng previous owner dahil alam nila mahahatak na) compare sa 350k pagbinili mo sa private owner. 50k ang difference. kahit mas maliit ang interest ng 2nd hand repossesed cars, mas malaki yung risk na baka nga binaboy atska hindi mo pa alam history ng car. kung magpepersonal loan ako... I can stretch out my budget ng +50k sa interest... so Okay lang din kahit mas mahal ang interest. at least sa private owner ka pa makakabili, makakahaggle ka ng price at alam mo history ng car :D

Most private owners ayaw ng financing since gusto nila cash nila makukuha.. kung papayag naman sila sa financing madalas tinataasan price or hindi ka na makatawad dahil nga sa abala at madami pa kelangan gawin...

Siguro for now I'll pursue personal loans... :D

bro, try to visit as many banks as you can for better deal.
kahit maliit yang loan amount mo may kita pa rin sila diyan.
ganito ang ginawa ni wifey when she's looking a bank to finance a 10-wheeler truck lately.
she got the best deal and ended up with metrobank

[ajkotse]

bro, try to visit as many banks as you can for better deal.
kahit maliit yang loan amount mo may kita pa rin sila diyan.
ganito ang ginawa ni wifey when she's looking a bank to finance a 10-wheeler truck lately.
she got the best deal and ended up with metrobank

bro ask ko lang kung brand new kinuha ng wife mo sa metrobank? kasi ung agent na kausap ko dun hindi sila tumatanggap ng 2nd hand cars... mga brand new lang daw inaaccept nila... kung 2nd hand daw sa psbank (sister company) daw nila ako pumunta.

[slapz]

You do realized that applying online will be approved by a machine based on the set rules, right?

Wala atang subjective reasoning mga machines last time I checked.

[ajkotse]

You do realized that applying online will be approved by a machine based on the set rules, right?

Wala atang subjective reasoning mga machines last time I checked.

I guess hindi po sila machine kasi nagreply ako sakanila why hindi ako na-approved, at nagreply back din sila na hindi daw po sila nagloloan ng Hyundai or Kia Brands..

[skybison]

4yrs ago, pinagsabay ko 2 personal loans (thru GF, now my wife).

100k BDO 4k+/36mos to pay
120k PSBank 5k+/36mos to pay

binili ko ng oto worth 160k (me 60k kupit, nyahaha). 10k/mo naman budget ko for loan, sa awa ng dyos - natapos na din na walang sablay. Ngayon hinahabol si mrs para mag renew at maganda record namin. (nya pala) :D

earlier this yr, nagloan kme ng bnew - under my name. Ayun, lumabas yun bad record ko NINE(9) years ago with a creditcard company/bank. Nakita ko mismo sa application ko, me note: "settle from ** bank, clearance, etc", PERO dahil naghahabol sila ng sales quota - siguro pumikit mata na lang sila and ina-approved yun application ko. kaya if i may say, weather-weather pa rin yan application na yan. Hindi pa kme gumamit ng ka-braso nito. Sorry i won't be divulging the bank - coz i believe case-to-case pa rin yan. ;)

Nun sinabi ko sa casa na wala akong preferred bank (bahala na sila i-mean) a few hours when i left the casa - 5 banks tumawag sa akin at nag verify, etc.

Re: Bad cc (bata pa nuon e, walang control sa kaskas - and the cc was "pre-approved", which i didn't applied for, dala na din ng magandang company na pinapasukan ko nuon). Now that i'm eyeing for a house & lot loan, have to settle that bad record 9yrs ago.

[antonath]

4yrs ago, pinagsabay ko 2 personal loans (thru GF, now my wife).

100k BDO 4k+/36mos to pay
120k PSBank 5k+/36mos to pay

binili ko ng oto worth 160k (me 60k kupit, nyahaha). 10k/mo naman budget ko for loan, sa awa ng dyos - natapos na din na walang sablay. Ngayon hinahabol si mrs para mag renew at maganda record namin. (nya pala) :D

earlier this yr, nagloan kme ng bnew - under my name. Ayun, lumabas yun bad record ko NINE(9) years ago with a creditcard company/bank. Nakita ko mismo sa application ko, me note: "settle from ** bank, clearance, etc", PERO dahil naghahabol sila ng sales quota - siguro pumikit mata na lang sila and ina-approved yun application ko. kaya if i may say, weather-weather pa rin yan application na yan. Hindi pa kme gumamit ng ka-braso nito. Sorry i won't be divulging the bank - coz i believe case-to-case pa rin yan. ;)

Nun sinabi ko sa casa na wala akong preferred bank (bahala na sila i-mean) a few hours when i left the casa - 5 banks tumawag sa akin at nag verify, etc.

Re: Bad cc (bata pa nuon e, walang control sa kaskas - and the cc was "pre-approved", which i didn't applied for, dala na din ng magandang company na pinapasukan ko nuon). Now that i'm eyeing for a house & lot loan, have to settle that bad record 9yrs ago.

sir blacklisdted ka ba dati dahil sa unsettled credits mo? may kilala ako ganyan almost 1m yun utang sa cc sa eastwest. hahaha

[skybison]

sir blacklisdted ka ba dati dahil sa unsettled credits mo? may kilala ako ganyan almost 1m yun utang sa cc sa eastwest. hahaha

Its not dati, but ongoin - kasi di pa ako cleared to date. :D Galit na si mrs at hindi ko inaasikaso. For sure endorsed na sa 3rd party collection agency yun account ko. Tried to call the bank and "wala" kuno sila makita na matching my account. Probably their system might put a tag on my name to advise to contact their accredited collection agency instead. (assumption ko lan). Anyway goin OT na. Hehe

[1D4LV]

Its not dati, but ongoin - kasi di pa ako cleared to date. :D Galit na si mrs at hindi ko inaasikaso. For sure endorsed na sa 3rd party collection agency yun account ko. Tried to call the bank and "wala" kuno sila makita na matching my account. Probably their system might put a tag on my name to advise to contact their accredited collection agency instead. (assumption ko lan). Anyway goin OT na. Hehe

the real truth is that after several years of being in default sa cc, the account is written off. this saves the bank in paying taxes from collectibles or advance income.

this is also the reason why:

- after around 3 years or so, the bank can offer you to settle around just 25% of your total obligations.
- paikot ikot na yung account mo sa mga collecting agencies. kung sino makasingil, hati sila ni bank. o more than half ng nasingil ay kanila.

coming from someone who used to work in a bank.