Bank auto loan

**chris45** · May 6th, 2019 02:59 PM

Originally Posted by jncp9886

Update as of today. Tumawag na ang bank at approved na daw ung auto loan namin. Hinintay nlng ung unit kasi for shipping pa raw galing Manila.. took 3days for the whole process. Hindi na nga tumawag ang CI ng bank. Nagtaka kami pero approved na pala.

iprocess ka agad pag na approve? wala na discussion o nag confirm ka na dn kaagad nung tumawag sila?

**Salzburg** · August 18th, 2019 04:34 AM

Nowadays you can apply online and you'll get a response in a few minutes, as I did on Lånemegleren (visit site). But I'm not talking about the Philippines, I'm talking about Norway, here the economy works way faster. How about the times when you need a fast loan? like for paying a fine. You'll have to wait for a few days too?

**Jepster** · April 22nd, 2021 07:06 AM

Up...

How does the dealer provided discount work when applying for a bank auto loan?

Say, SRP is 1M and dealer is currently giving 100k discount. Do I go to the bank and tell them I'd like to apply for a 900k auto loan?

Also, is going to the bank the first step, or do I look for a dealership first?

**tarzegetakizerd** · April 22nd, 2021 10:02 AM

Originally Posted by Jepster

Up...

How does the dealer provided discount work when applying for a bank auto loan?

Say, SRP is 1M and dealer is currently giving 100k discount. Do I go to the bank and tell them I'd like to apply for a 900k auto loan?

Also, is going to the bank the first step, or do I look for a dealership first?

Im not sure but some casa discounts only apply for in-house financing. try asking them

**yapoy86** · April 22nd, 2021 10:35 AM

Originally Posted by Jepster

Up...

How does the dealer provided discount work when applying for a bank auto loan?

Say, SRP is 1M and dealer is currently giving 100k discount. Do I go to the bank and tell them I'd like to apply for a 900k auto loan?

Also, is going to the bank the first step, or do I look for a dealership first?

pag bank sir usually you need to make 20% downpayment.. then those discounts will be subtracted on the SRP.

the dealer will provide the "assessment" to which the bank will approve.

you need to check first if you will qualify for the bank loan.

sa "in-house" usually they offer that 0% downpayment scheme.. but if you compute, the interest rates are higher compared to bank with 20% dp

**Egan101** · April 22nd, 2021 10:42 AM

Take into consideration the total cost of purchase. Use a spread sheet to compare. With in-house financing, you get bigger discounts plus free one year insurance, free LTO registration, and free chattel mortgage. With some banks, not all will be free.

Some dealers take away the discount on the DP thus lowering the acquisition cost.

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**misseksaherada** · April 22nd, 2021 12:41 PM

Originally Posted by Jepster

Up...

How does the dealer provided discount work when applying for a bank auto loan?

Say, SRP is 1M and dealer is currently giving 100k discount. Do I go to the bank and tell them I'd like to apply for a 900k auto loan?

Also, is going to the bank the first step, or do I look for a dealership first?

From my experience:
Go to nearest dealer, ask SRP and ask for current discounts/promotions. Use this as basis.
Next, check different banks (kung sisipagin ka) ask for auto loan interest rate, current promotion packages (e.g. free chattel mortgage, free 1 yr insurance etc.). Ask for printed copy para mas madali balikan.
Some banks will suggest specific dealership. Gamitin mo yung info na nakuha mo sa first step. Minsan kasi on the spot makipag usap na sa phone makipag deal ka..
Then, review all your options (subjective pa din, depende sa buyer hindi naman lahat ng sagot nasa discount).
Balik ka ngayon sa unang dealer, makipag usap ka if yung discount sayo pwede pa ba dagdagan.. Mas pabor kung pagbigyan ka, lalo na mas malapit yung dealer.
Pero kung di ka pa din satisfied, hanap ka pa ng dealer.. Sa ibang city or province (same umbrella lang kapag same city or province, most likely same offer lang ibigay sayo).

Happy Shopping po Sir Jepster!!

**ray_noel** · April 22nd, 2021 01:04 PM

Originally Posted by Jepster

Up...

How does the dealer provided discount work when applying for a bank auto loan?

Say, SRP is 1M and dealer is currently giving 100k discount. Do I go to the bank and tell them I'd like to apply for a 900k auto loan?

Also, is going to the bank the first step, or do I look for a dealership first?

Madami kasi gimik ngayon sa mga casa... lahat ng sinabi nila can be possible...

sa case ko naman...

terra nag 100k discount sila so yung qoutation na hiningi ko sa bank is base dun sa 100k discount ng casa... then dun sila nag base ng computation for dp and amortization....

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**ice15** · April 22nd, 2021 01:08 PM

Originally Posted by misseksaherada

From my experience:
Go to nearest dealer, ask SRP and ask for current discounts/promotions. Use this as basis.
Next, check different banks (kung sisipagin ka) ask for auto loan interest rate, current promotion packages (e.g. free chattel mortgage, free 1 yr insurance etc.). Ask for printed copy para mas madali balikan.
Some banks will suggest specific dealership. Gamitin mo yung info na nakuha mo sa first step. Minsan kasi on the spot makipag usap na sa phone makipag deal ka..
Then, review all your options (subjective pa din, depende sa buyer hindi naman lahat ng sagot nasa discount).
Balik ka ngayon sa unang dealer, makipag usap ka if yung discount sayo pwede pa ba dagdagan.. Mas pabor kung pagbigyan ka, lalo na mas malapit yung dealer.
Pero kung di ka pa din satisfied, hanap ka pa ng dealer.. Sa ibang city or province (same umbrella lang kapag same city or province, most likely same offer lang ibigay sayo).

Happy Shopping po Sir Jepster!!

sa akin simple lang...

go to dealership and ask for their calculation + freebies + possible release of unit -> pinapasulat ko sa paper ng maayos

photocopy ng paper...

then go to my bank, bigay kay Ms. customer service yung paper and ask kung mas maayos offer nila

**misseksaherada** · April 22nd, 2021 02:00 PM

Originally Posted by ice15

sa akin simple lang...

go to dealership and ask for their calculation + freebies + possible release of unit -> pinapasulat ko sa paper ng maayos

photocopy ng paper...

then go to my bank, bigay kay Ms. customer service yung paper and ask kung mas maayos offer nila

Oo nga mas madali ito...

Late na kasi ako naka join sa Tsikot.. Tapos na lahat nung nag join ako.. Kaya sariling sikap lang, trial and error ginawa ko..
Ang pabor lang sakin, malapit lang iba't ibang banks sa office ko kaya pwede ko isa isahin kada breaktime. Na-enjoy ko naman yung experience.. Competitive pala banks sa Loan.. Ang akala ko kasi basta utang ayaw ng bangko.. Mali pala akala ko..