Bank PO = Discount from Dealer

[dr. d]

Hello, bago lang po ako dito. Natakot po ako sa mga nabasa ko. Akala ko smooth ang transactions once na thru bank ang purchase ng vehicle.


May offer kasi sakin ang honda cars baliuag sa brio 2017 nila. 614k ang unit price, sabihin na nating 615k. Then may discount na 70k cash.

Diba good as cash un pag si bank nag bayad? Edi ibig sabihin ang dala ko lang dapat na pera sa day na un eh mga 545 + pambayad sa inhouse insurance? Tama ba guys?

if you are buying the car in cold cash (sabi mo kasi, may dala kang 545K sa bulsa), you can not be forced into insuring it anywhere, po.
some casas already include LTO registration and third party insurance, in the package, po. you should ask if it is included in the price, before closing the deal.
comprehensive insurance? it's not necessary to get one, po, as the car is already fully owned by you. but it is always nice to have. i myself, get in-house insurance. it makes it very easy for me when i get into a fender bender... "here's my car. fix it. call me when it's ready to be driven out of the casa."

but if you are buying the car by installment, then the bank you are buying it from (yes, the bank pays the casa in full and thus, technically owns that car, until you finish all the monthly payments) will require that you get a comprehensive insurance "to protect their investment". some banks have their own insurance, others don't care very much where you insure it with; it's the golden rule, po: "he who has the gold, makes the rules".
the 545 is the cash price, po. if buying on installment, the bank will have to make a profit, so that the final purchase price you will be paying, will be much higher than 545. ask the bank to make you several payment schedules, po, so's you can see just how much you will be paying for that 545 peso car after up to 5 years of monthly installment. and don't forget the chattel mortgage fees.
also, "go shopping" with other banks, and see who gives the better deal.

good luck.

[reiyza]

Actually wala akong pang cold cash. Di ko pala naipaliwanag ng maganda. Sorry.

My choices narrowed down to the at and mt glx variant of the mirage.

I'm going for bank autoloans.

Is it true. Na pag sa bank ka nag apply, bibilin nila ng cash ung unit?

So kung 560,000 ang unit price ni HB mirage glx mt. Tapos me discount na 50,000. Pano un pag kinash ni bank? San na mapupunta ung 50,000k?

And yes.. I haggled with 3 banks already.. I honestly don't know what to compare aside from the different interests rates.

[reiyza]

Wag na wag ka kukuha ng inhouse insurance....

Basta inhouse deadmahin....

Try mo pa other dealer baka mapaabot mo 100 to 150hou discount kasi nilalangaw ang brio.

Alamin mo din kung year 2016 or 2017 ibibigay sayo tingnan mo talaga wag ka maniwala sa salita lang.... Kung 2016 mas lalo mo baratin.

Nag inquire ako dito sa honda nueva ecija. Ang sabi sakin. Ang model variant ng brio na latest is 2016(S MT/S AT)

Ung inooffer daw sakin ng honda baliuag na may 70k discount ay 2015 S MT. (Actually iniinquire pa sa warehouse kung meron pa nga).

Pag nagkataon na meron 2015 SMT 1.3 model sa warehouse. Makuha na. Buset. Pag wala. Mirage seems like a solid go-to car.

[dr. d]

Actually wala akong pang cold cash. Di ko pala naipaliwanag ng maganda. Sorry.

My choices narrowed down to the at and mt glx variant of the mirage.

I'm going for bank autoloans.

Is it true. Na pag sa bank ka nag apply, bibilin nila ng cash ung unit?

So kung 560,000 ang unit price ni HB mirage glx mt. Tapos me discount na 50,000. Pano un pag kinash ni bank? San na mapupunta ung 50,000k?

And yes.. I haggled with 3 banks already.. I honestly don't know what to compare aside from the different interests rates.

ah so...
yespo. the bank pays the dealer in full, and technically owns the car after that. you only get to own the car to your name, once you have paid the bank in full.
get WRITTEN quotations from several banks bank, po. add all the monthlies and all the fees to be paid during the entire installment schedule, po. don't forget the chattel mortgage in-and-out fees. the total sum should give you an idea of just how much you are going to pay the bank, for that 545K (cold cash) car. compare the different quotations and consider the better price for you.
the bank has to make a profit from off you, po. so, expect to pay much more than the 545K cash price of the car.

2015 versus 2016 model? i don't know... is there a difference between these two? is it possible, sales talk lang yan?

[_Qwerty_]

usually binabawas nila yung discount sa SRP.. so kung 560T ang SRP, less 50K, 510K na lang yung SRP, don kukunin yung 20% down and yung i lo loan sa bank..

minsan naman, they deduct the discount sa downpayment.. so 560T pa rin ang SRP, 20% ang down.. then i le less don yung discount..

Actually wala akong pang cold cash. Di ko pala naipaliwanag ng maganda. Sorry.

My choices narrowed down to the at and mt glx variant of the mirage.

I'm going for bank autoloans.

Is it true. Na pag sa bank ka nag apply, bibilin nila ng cash ung unit?

So kung 560,000 ang unit price ni HB mirage glx mt. Tapos me discount na 50,000. Pano un pag kinash ni bank? San na mapupunta ung 50,000k?

And yes.. I haggled with 3 banks already.. I honestly don't know what to compare aside from the different interests rates.

[kishAn]

Actually wala akong pang cold cash. Di ko pala naipaliwanag ng maganda. Sorry.

My choices narrowed down to the at and mt glx variant of the mirage.

I'm going for bank autoloans.

Is it true. Na pag sa bank ka nag apply, bibilin nila ng cash ung unit?

So kung 560,000 ang unit price ni HB mirage glx mt. Tapos me discount na 50,000. Pano un pag kinash ni bank? San na mapupunta ung 50,000k?

And yes.. I haggled with 3 banks already.. I honestly don't know what to compare aside from the different interests rates.

For the cash discount you have the option na ibawas to either the DP or sa SRP. Sa bank loan, babayaran ni bank si dealer ng buo if complete na lahat ng dealer document siguro around a month. If you already haggled with diferrebt banks, you might wanna consider din yung service given to you. Sometimes around 100 peso lang diferrences sa monthly amortization


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[reiyza]

For the cash discount you have the option na ibawas to either the DP or sa SRP. Sa bank loan, babayaran ni bank si dealer ng buo if complete na lahat ng dealer document siguro around a month. If you already haggled with diferrebt banks, you might wanna consider din yung service given to you. Sometimes around 100 peso lang diferrences sa monthly amortization


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Actually guys. Kinakabahan ako sa mga banks na nakausap ko. Kailangan daw bitbit ko in cold cash ung 20% na down payment. Tapos si manager daw ng bank ang tatawag sa dealership for the remaining balance. Pano un? Considered as cash pa din ba un?


Ma nakausap na kong bank. Gumamit ako ng power of referral. Ok naman usap namin. China savings bank. 2-3 days daw ang processing ng papers(ewan ko lang kung true, kasi i've heard na mahirap daw magpa approve).

Honda baliuag is asking me a reservation fee of 5,000 pesos. Para dalin sa warehouse nila ung 2016 Brio 1.3 SMT - 2017 acquired.. I hope na hindi scam ung 70,000 na cash discount na sinabi sakin ng kausap ko na agent thru autodeals.com.ph

[_Qwerty_]

Ok naman ang China Bank Savings.. dyan ako na approved para sa Wigo last December..

yung 20% down.. baka pwede manager's cheque?

PO lang ang ibibgay nang bank sa dealer.. yun yung 80% payment...

For discounts, make sure they put it in writing.. mahirap yung puro sabi sabi lang..

Actually guys. Kinakabahan ako sa mga banks na nakausap ko. Kailangan daw bitbit ko in cold cash ung 20% na down payment. Tapos si manager daw ng bank ang tatawag sa dealership for the remaining balance. Pano un? Considered as cash pa din ba un?


Ma nakausap na kong bank. Gumamit ako ng power of referral. Ok naman usap namin. China savings bank. 2-3 days daw ang processing ng papers(ewan ko lang kung true, kasi i've heard na mahirap daw magpa approve).

Honda baliuag is asking me a reservation fee of 5,000 pesos. Para dalin sa warehouse nila ung 2016 Brio 1.3 SMT - 2017 acquired.. I hope na hindi scam ung 70,000 na cash discount na sinabi sakin ng kausap ko na agent thru autodeals.com.ph

[reiyza]

Ok naman ang China Bank Savings.. dyan ako na approved para sa Wigo last December..

yung 20% down.. baka pwede manager's cheque?

PO lang ang ibibgay nang bank sa dealer.. yun yung 80% payment...

For discounts, make sure they put it in writing.. mahirap yung puro sabi sabi lang..

Ahh? Pwede manager's check. Ang hirap ibyahe ng 100k lalo na pag mag commute kalang papuntang baliuag. Uso tokhang.

Bali mabilis talaga mag approve si China Bank?


Oo nga. Di ko masigurado kung ung 70k e totoo o scam.

At least si mitsubishi sa n.e me binigay na discount ung agent sa akin. Kaso naka sama ung discount sa all in computation ng mirage glx nila. Meron din ako naka text na isang agente na up to 50k ung discount, kaso di naman ata naka duty nung araw na nagpunta ako sa mitsubishi.

[kishAn]

Ahh? Pwede manager's check. Ang hirap ibyahe ng 100k lalo na pag mag commute kalang papuntang baliuag. Uso tokhang.

Bali mabilis talaga mag approve si China Bank?


Oo nga. Di ko masigurado kung ung 70k e totoo o scam.

At least si mitsubishi sa n.e me binigay na discount ung agent sa akin. Kaso naka sama ung discount sa all in computation ng mirage glx nila. Meron din ako naka text na isang agente na up to 50k ung discount, kaso di naman ata naka duty nung araw na nagpunta ako sa mitsubishi.

Hingi ka official qoutation from the dealer regarding the cash discount just to be safe. Pero kinoconfirm naman ng bank yan before giving PO sa dealer. MC generally accepted naman yan for down payment, bigyan mo lang ng copy si ahente prior to release para mapaconfirm nya sa finance dept nila yung MC


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