Payment Scheme Dilemma

[blue0626]

Mga masters help....

I just decided to buy a new car for my parents. Initially MT ang pinili namin at nagbayad na kami ng 5k reservation fee. Nagbago isip ni erpats at AT na lang daw ang kunin so pinapalitan namin ng AT then sabi ko taasan ko na ang DP ko to 200k para mas bumaba ang monthly (thru phone na lang).

Sabi ni dealer na mas bababa ang monthly ko dahil mas mataas ang i DP ko. Then after few days nakita ko ang brochure at same lang ang computation ng monthly amortization with 200k sa 65k DP. Lumalabas na mas malaki ang total payment ng 200k DP to 65K DP. Sabi ko di ko kunin na ganun dahil mas mataas na nga DP ko pero mas napamahal pa ako, imbis na 200k edi 65k na DP na lang ang kunin ko pero sabi nya mag pepenalty na sya dahil na process na daw yung lahat ng docs at unit na lang daw ang inaantay dahil mali ang kulay na na assign sa akin. Not sure what docs sinasabi nya wala pa ako napirmahan I think yung docs ay yung mga pipirmahan for releasing ng kotse.
what to do?

[_Qwerty_]

kung wala ka pa namang napipirmahan, then get a loan sa bank, wag in house..

Mga masters help....

I just decided to buy a new car for my parents. Initially MT ang pinili namin at nagbayad na kami ng 5k reservation fee. Nagbago isip ni erpats at AT na lang daw ang kunin so pinapalitan namin ng AT then sabi ko taasan ko na ang DP ko to 200k para mas bumaba ang monthly (thru phone na lang).

Sabi ni dealer na mas bababa ang monthly ko dahil mas mataas ang i DP ko. Then after few days nakita ko ang brochure at same lang ang computation ng monthly amortization with 200k sa 65k DP. Lumalabas na mas malaki ang total payment ng 200k DP to 65K DP. Sabi ko di ko kunin na ganun dahil mas mataas na nga DP ko pero mas napamahal pa ako, imbis na 200k edi 65k na DP na lang ang kunin ko pero sabi nya mag pepenalty na sya dahil na process na daw yung lahat ng docs at unit na lang daw ang inaantay dahil mali ang kulay na na assign sa akin. Not sure what docs sinasabi nya wala pa ako napirmahan I think yung docs ay yung mga pipirmahan for releasing ng kotse.
what to do?

[blue0626]

kung wala ka pa namang napipirmahan, then get a loan sa bank, wang in house..

Can I get a loan sa bank even though na approved na ang in house?

[ssaloon]

Can I get a loan sa bank even though na approved na ang in house?

I think it's gonna be 1 or the other. If you decide to loan through your bank, ask the dealer to pull out your approval for in-house financing.

[blue0626]

I think it's gonna be 1 or the other. If you decide to loan through your bank, ask the dealer to pull out your approval for in-house financing.

I see, so it is ok to pull put the approved in-house financing. I already said to my dealer that I need to talk to him as he is still insisting na makakamura ako with 200K DP than 65k DP but with same monthly amortization

If ever na hindi sya pumayag I would have to let go my 5k reservation fee and look for another car or dealer.

[_Qwerty_]

reservation fee is refundable.

I see, so it is ok to pull put the approved in-house financing. I already said to my dealer that I need to talk to him as he is still insisting na makakamura ako with 200K DP than 65k DP but with same monthly amortization

If ever na hindi sya pumayag I would have to let go my 5k reservation fee and look for another car or dealer.

[ssaloon]

I see, so it is ok to pull put the approved in-house financing. I already said to my dealer that I need to talk to him as he is still insisting na makakamura ako with 200K DP than 65k DP but with same monthly amortization

If ever na hindi sya pumayag I would have to let go my 5k reservation fee and look for another car or dealer.

Yup, in-house will always be the most expensive choice, hence it will never be part of my options when purchasing a car.

[jut703]

Just request for the 5k refund (around 2-4 weeks processing), then get a bank loan with much lower interest vs in-house.

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[glenn_duke]

I see, so it is ok to pull put the approved in-house financing. I already said to my dealer that I need to talk to him as he is still insisting na makakamura ako with 200K DP than 65k DP but with same monthly amortization

If ever na hindi sya pumayag I would have to let go my 5k reservation fee and look for another car or dealer.

Iba naman kasi yung model ng dalawang sasakyan, yung 65k DP sa MT yun yung sa 200K sa AT yun. Kaya hindi apple to apple yang comparison mo.
Im sure magkaiba ang price ng MT sa AT at mas madalas mas mahal ang AT, baka nga TOTL na AT pa yung napili mo.
Yung 65k na DP baka promo yan, minsan hindi lahat ng model ay pasok sa promo.
Makikita naman yan sa computation sheet nung SA.

[BratPAQ]

Iba naman kasi yung model ng dalawang sasakyan, yung 65k DP sa MT yun yung sa 200K sa AT yun. Kaya hindi apple to apple yang comparison mo.
Im sure magkaiba ang price ng MT sa AT at mas madalas mas mahal ang AT, baka nga TOTL na AT pa yung napili mo.
Yung 65k na DP baka promo yan, minsan hindi lahat ng model ay pasok sa promo.
Makikita naman yan sa computation sheet nung SA.

galing mo nakita mo yun, didnt realize na magkaiba palang car yung 65k at 200k.

[blue0626]

Iba naman kasi yung model ng dalawang sasakyan, yung 65k DP sa MT yun yung sa 200K sa AT yun. Kaya hindi apple to apple yang comparison mo.
Im sure magkaiba ang price ng MT sa AT at mas madalas mas mahal ang AT, baka nga TOTL na AT pa yung napili mo.
Yung 65k na DP baka promo yan, minsan hindi lahat ng model ay pasok sa promo.
Makikita naman yan sa computation sheet nung SA.

Sorry. 65K is for AT rin and same model.
Kaya nung nakita kong mas mahal yung mas mataas na DP tinanong ko si agent kung pwedeng yung 65K DP na lang kunin ko kaso sabi nya di na daw pwede dahil na process na daw, and pwede daw eh taasan pa yung DP para mas mababa yung monthly which is kalokohan dahil nung tinaasan pa ng 5% e mas mataas pa rin ang total kesa sa 65K lang na DP. E wala pa nga yung kulay ng unit na gusto ko

[dr. d]

Mga masters help....

I just decided to buy a new car for my parents. Initially MT ang pinili namin at nagbayad na kami ng 5k reservation fee. Nagbago isip ni erpats at AT na lang daw ang kunin so pinapalitan namin ng AT then sabi ko taasan ko na ang DP ko to 200k para mas bumaba ang monthly (thru phone na lang).

Sabi ni dealer na mas bababa ang monthly ko dahil mas mataas ang i DP ko. Then after few days nakita ko ang brochure at same lang ang computation ng monthly amortization with 200k sa 65k DP. Lumalabas na mas malaki ang total payment ng 200k DP to 65K DP. Sabi ko di ko kunin na ganun dahil mas mataas na nga DP ko pero mas napamahal pa ako, imbis na 200k edi 65k na DP na lang ang kunin ko pero sabi nya mag pepenalty na sya dahil na process na daw yung lahat ng docs at unit na lang daw ang inaantay dahil mali ang kulay na na assign sa akin. Not sure what docs sinasabi nya wala pa ako napirmahan I think yung docs ay yung mga pipirmahan for releasing ng kotse.
what to do?

errr... normally, AT costs more than MT. if i get your figures right... the down payment for the AT versus the downpayment for the MT... and the equal amounts for the equal number of monthlies for either... it would appear the AT will cost you 135K more than the MT.

anyway, if you really do not feel like buying from them anymore, just give them a call.
"something came up. i can't buy a car right now. please refund me. i shall put my request in writing."

[blue0626]

errr... normally, AT costs more than MT. if i get your figures right... the down payment for the AT versus the downpayment for the MT... and the equal amounts for the equal number of monthlies for either... it would appear the AT will cost you 135K more than the MT.

anyway, if you really do not feel like buying from them anymore, just give them a call.
"something came up. i can't buy a car right now. please refund me. i shall put my request in writing."

Yes AT costs more. Both dp i mentioned are for AT.

65K is their brochure DP. I then asked my Agent what if I pay 200k DP, will my monthly amort be lower? He said yes but turns out not.

[glenn_duke]

Yes AT costs more. Both dp i mentioned are for AT.

65K is their brochure DP. I then asked my Agent what if I pay 200k DP, will my monthly amort be lower? He said yes but turns out not.

Did you read the brochure right? Maybe what is printed is "Low Down" OR "Low Monthly". And sometimes it even say for certain models only.
You should asked for a computation sheet of the AT car at 65K DP and at 200K DP, to verify what is written in the brochure. I really doubt that a 65K DP will have lower amortization than a 200K DP.
Can you tell us what car it is you are buying.

[_Qwerty_]

baka nga MT yang low down na yan.. read the brochure again..

[unmarked]

he is taking you for a ride with those penalty penalty BS. Demand a refund or re-computation hindi brochure lang.

[kamotekid1968]

as far as discrepancy in terms of amount, napalaki po at para sabihin nya na same lang ang MA for a DP of 60-70k vs 200k, aba magtaka kana sir...mas mainam pa na dumerecho ka ng bank at gamitin pangdown sa unit mo na gusto kesa pumasok ka sa in-house nila dahil sa in-house ng dealer, terms nila ang nasusunod. and yes, afaik, 5k reservation fee should be refundable, it takes time nga lang. hth!

[_Qwerty_]

also - ask for a quote in writing.. with all the freebies and discount.. hindi pwede puro salita..

[Lew_Alcindor]

Kung wala ka pang napipirmahan sa kanina na loan documents, pwede ka mag-backout. Remember, ikaw ang magbabayad niyan, hindi yung dealer o ahente. Sa madaling sabi, IKAW ANG BOSS.

Simple lang yan. Ipakita mo yung computation mo sa kanya para makita niya kung bakit ka nagpalit ng isip. Kung mapilit, sabihin mo siya sumagot ng monthly amortization mo. Daming ahente sa Pinas. Kahit magalit sa iyo ang lahat ng ahente sa isang dealer, pwede ka pumunta sa iba.

[kamotekid1968]

tama sila sir *_Qwerty_ at Lew_Alcindor - ask for the quote in writing then go to your nearest bank to get a quote then compare. i, myself went to several bank (e.g PNB, Metrobank, Security Bank and BDO) almost same rates sila nagkatalo lang sa customer service ng banks at harmonious relationship with tellers who were handling my insurance issue back then when my first unit (mirage hatchback) got wrecked by a cement mixer truck. at the end of the day, ako padin ang nagdecide kung saang bank ako magloloan at "never" pumasok sa isip ko ang pagkuha ng unit via "in-house" dealer. Do the math and you'll know why. hth!