Bank PO = Discount from Dealer

**advil** · January 5th, 2016 02:16 PM

Paano malalaman ng bank na may cash discount? maguusap ba ang bank at dealer? or ikaw ang magsabi sa bank na may cash discount and pakita na lang yung official quote?

**dos2** · January 5th, 2016 02:47 PM

Originally Posted by advil

Paano malalaman ng bank na may cash discount? maguusap ba ang bank at dealer? or ikaw ang magsabi sa bank na may cash discount and pakita na lang yung official quote?

Ikaw nalang magsabi sa banko by presenting the official quote to them para sigurado.

**kishAn** · January 5th, 2016 04:08 PM

Originally Posted by advil

Paano malalaman ng bank na may cash discount? maguusap ba ang bank at dealer? or ikaw ang magsabi sa bank na may cash discount and pakita na lang yung official quote?

initially ikaw magbabangit sa bank or tatanungin ka kung meron cash discount at saan mo ibabawas, sa down payment ba or unit price. icoconfirm din naman ng bank yun sa dealer

**Lew_Alcindor** · January 5th, 2016 04:14 PM

sa experience namin, wala talaga kaming binayaran sa banko before getting the vehicle. Ang banko ang magbibigay ng pera sa iyo, hindi ikaw ang magbibigay sa kanila.

Lahat sa dealer ang bayad: DP, yung AOG/AON part ng isurance, chattel mortage

Regarding the discount, IMO walang kinalaman dito ang PO. Nasa existing promo yan at kung paano ka makipag-haggle para mamaximize mo yung allowed discount.

And FYI, hindi po "freebie" yung floor mat. Standard yan sa lahat ng sasakyan.

**sparco21** · January 7th, 2016 03:42 PM

nung mag auto loan ako sa psbank last october, (5 days lang inabot nakuha ko na agad mirage ko) sa bank lahat ang bayad, dp, chattel and insurance. yung cash discount sa srp ko na pinabawas. para yung PO nila sa dealer eh yung price (less cash discount) ng auto. sa dealer naman eh free lto at tpl.

**Sharkbait101** · May 16th, 2016 03:36 PM

This seems to be the right topic.

I got an approved bank PO and got a 20K discount + freebies from a dealer.
However, bank called me that the dealer wanted to have the bank issue a credit advise instead.

Has anyone experienced this credit advise? How will this work vs a bank PO?

Dealer was claiming this is a practice they do to mitigate the withholding tax???
Bank was saying this will not work with them.

Now, I'm in a confused and in waiting mode.

**dale323** · March 13th, 2017 10:25 PM

Originally Posted by Sharkbait101

This seems to be the right topic.

I got an approved bank PO and got a 20K discount + freebies from a dealer.
However, bank called me that the dealer wanted to have the bank issue a credit advise instead.

Has anyone experienced this credit advise? How will this work vs a bank PO?

Dealer was claiming this is a practice they do to mitigate the withholding tax???
Bank was saying this will not work with them.

Now, I'm in a confused and in waiting mode.

Guys, any update regarding this? Currently on the same boat. I was initially given the chance to choose between using the discount on the D/P or the SRP, we chose in DP. After a while, tumawag si bank at ayaw daw ni dealer maglabas ng credit advise. Sabi naman ni dealer, ayaw daw ni bank na sa DP ibawas. Ang weird lang since halos lahat ng kakilala ko ay sa Downpayment nila ginamit ang discount.

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**pobre24** · March 29th, 2017 09:28 AM

Originally Posted by dale323

Guys, any update regarding this? Currently on the same boat. I was initially given the chance to choose between using the discount on the D/P or the SRP, we chose in DP. After a while, tumawag si bank at ayaw daw ni dealer maglabas ng credit advise. Sabi naman ni dealer, ayaw daw ni bank na sa DP ibawas. Ang weird lang since halos lahat ng kakilala ko ay sa Downpayment nila ginamit ang discount.

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A bank will not allow application of discount on DP. Especially if DP is 20%. That's the minimum DP for a car loan ( as far as I know, BSP regulation). Standard practice is discount on SRP then DP against the discounted price. DP will be a bit lower.

**FnC** · April 5th, 2017 02:54 PM

Originally Posted by shadrach

I guess I wasn't clear.

I applied direct with my bank. Got a good rate of 29% for 60 months.

I then found a honda dealer who had a unit allocated.

I signed the docs yesterday and expect the car today.

During negotiations with the dealer, I asked if there are any discounts on the Jazz..and of course, they said no, honda never discounts. I asked since I handled my own financing, is there a discount a la cash buyer...again the answer was no.

So yesterday, when signing the docs, one of the sections spelled out how much the check BPI was cutting to the dealer minus my downpayment. And again, the difference was 40k pesos.

I had always suspected that the bank receives a fleet discount on anything they buy but this is not disclosed and even the dealer hides this fact.

I'm just saying from a consumer standpoint, this is bordering on fraudulent since the loan amount I am signing up for is not what the bank is paying the dealer with. They already made money on the interest charges and chattel. I guess they also make a profit on the actual cash transaction between them and the dealer.

Hindi nag aapply ng cash discount sa dp ang "Honda" sa unit price nila binabawas yun. Kung sa Toyota or Mitsubishi ka kumuha ng unit pede i apply sa dp un cash discount.

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