Bank Loan same as Cash purchase

**kutangbato** · July 27th, 2011 12:14 PM

Originally Posted by shadow

Sobrang dali mag car loan ngayon. Parang CC application lang. Generally kung nakakuha ka ng CC pwede ka rin sa car loan

yes, i agree.

lalo na this quarter, meron mga quota ang mga bank employees specially sa mga branch officers, they need to reach that....metrobank for example, may mga "car low loan rates promo" plus full tank sila and minsan tinatapatan un rates ng bpi for example if ever kasi they know already na pag kaya iapproved ng bpi they can easily approve it.

PSBank is aggressive in this kind of loan.

BPI on the other hand has the lowest interest rate, so far. Aside from good customer service.

**cathesjohn** · July 27th, 2011 01:32 PM

Thanks for your valuable information. You have given a clear information about the bank loan cash purchase.

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**JUNFLO76** · August 7th, 2011 11:57 AM

hi guys... the usual procedure for bank transactions is babayaran lang ng bank ang dealer kung magkano talaga ang unit price. the discount sa unit is hinde napupunta sa bank, yung interest from the loan ang income ng bank...
By the way I'm a bank employee of PSBANK, if your are interested with our car loans please feel free to email me at junflo76*yahoo.com or at bmflorencio*psbank.com.ph
here are the rates guys:

Standard One month advance
12 mos 5.05% 4.33%
18mos 7.60% 6.83%
24mos 11.02% 10.17%
36mos 16.90% 15.96%
48 mos 22.96% 21.94%
60mos 29.61% 28.48%

Thank you.

**Ronney** · August 17th, 2011 08:52 PM

Originally Posted by yebo

just remember, DO NOT FILL UP ANY LOAN APPLICATION AT THE DEALER! THIS INCLUDES ANY "INFORMATION SHEET" AT THE DEALERS. once you fill up a loan application at the dealer there is a SOP between the banks and dealers that the banks can no longer pre-approve your loan and they will use the "in-house" financing rates. the SOP dictates that once an information sheet is filled out at the dealer (any dealer, any car brand) then the banks can no longer offer you a loan directly. if you make the mistake of filling out a form at ANY dealer before having yourself pre-approved you will need to wait until the application at the dealer has lapsed before you can go to your bank for loan pre-approval. even if you go to another dealer or even another car brand it will still be on record that you had applied for a loan at the dealer and the SOP stays. this period can be anywhere from 3 months to 1 year. so remember ONLY FILL OUT A LOAN APPLICATION AT THE BANK and only after you have applied for pre-approval at your bank do you go to the dealer.

I have experienced this. I filled up an application from the dealer then went direct to psbank. The dealer sent my application to a couple of banks and unfortunately, includes psbank. But it can be done. You just have to write a cancellation letter and thats it. My loan was then processed by psbank directly, not thru the dealer.

**Huyu** · July 25th, 2013 06:38 PM

Hi sirs,

1. Magkano ba ang going rates ngayon? (2 years ago kasi ang info... baka may updates)
2. any suggestions or tips?

as far as i understand it the process is:
1. go to your trusty bank to get a pre-approved car loan (alam ko pati yung make sinasabi na dun) (tip: do we need to have an account with the bank? does having a cc help, given your credit limit? can a person with just 1 ITR and less than 6 mos in a company be approved?) - may notice ba ito that we can present to the seller of the car?
2. once approved, go to the car seller/s and get the best deal
tip: compute for freebies, LTO, chattel, insurance, etc?
3. do we have to sign anything sa seller? do we have to bring anything to the bank?

thanks po! :D