Auto loan disapproved! help!

[999]

may mga babayaran pa ba na chattel mortgage pag 2nd hand kinuha mo thru financing? kailangan pa ba nila ng comprehensive insurance?

kung oo, baka naman mas mataas pa bayaran mo compared sa pag personal loan na lang.

not sure sir.but my colleagues got their brand new and 2nd hand from my acct officer...

[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.

[av8or5]

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!!!

sorry..na confused lang kasi ako dito... BPI refused or denied your loan because they dont loan for Kia and Hyundai brands? are you referring to new or used car? kasi if new..i find it weird... my kia was acquired through BPI car loan....

or if it's used..depends also how old the car is... usually 1-2 years old auto i think they will allow for auto loan of used cars...kasi...two people wanted to buy my less than 2 year old car..and bpi appraised it...but just like others....sellers want cash..not loan as their money will only be given once the paper works are complete... c.r. and o.r. under the new owner....