car loan

[TheUninvited]

Tried applying onlinr sa Security Bank kaninang morning, approved agad nung hapon.

BPI wala pa ding update hay. MBTC naman may new link online pala, pinag apply ako uli nung nag follow up ako.

Laki lang ng interest sa Security Bank. Pero impressed sa bilis nila haha. Wala man lang tumawag.

[TheUninvited]

Good day mga katsikot. Please advise. Kasi ang nangyari, nagtanong ako sa dealer ng quotation for Suzuki Ertiga 1.4 L A/T at napagkasunduan namin na 10% dp. Ngayon naaprubahan naman ako ng same vehicle sa Security bank however with a 20% dp naman although mas mababa ang monthly amortization kaya lang mas gusto ko ung sa dealer gawa nang marami syang freebies na binigay. Itatanong ko lng sana kung ung PO na ibibigay ng bank pde na un gamitin sa dealer? Or magrerequest ulit si dealer ng panibagong PO using ung 10% na dp? TIA

Anong freebies ba yan? Sobrang laki ng diff sa interest pag in-house vs bank.

Ako wala ako paki sa freebies except sa discount siguro. Pati tint sa labas ko ipapagawa para maayos.


Update:

Approved na din sa BPI ayos! took them 7 business days. Pero bilib pa din ako sa Security Bank ha, hours lang approved na haha.

Nanghihingi si BPI ng quote ng SA/dealer. Pwede na ba ung generic na quote like kung magkano yung DP and MA? Or may formal document pa dapat?

If you already have a dealership to source the unit, kindly email us a
scanned copy (compressed) of their quotation. This will be the basis of the
payment schedule (down payment and monthly amortization) for your car loan.

[dos2]

Approved na din sa BPI ayos! took them 7 business days. Pero bilib pa din ako sa Security Bank ha, hours lang approved na haha.

Nanghihingi si BPI ng quote ng SA/dealer. Pwede na ba ung generic na quote like kung magkano yung DP and MA? Or may formal document pa dapat?

Per my last experience with BPI, ok na yung quotation kahit di signed ng dealer (although better kung pirmado para may pinanghahawakan ka). Basta andun yung specifics nung unit na kukunin mo (Brand/Model/Variant/Engine Size/Transmission) at final/discounted price good to go na yan. Or better yet, ask your bank para tama maisubmit mo.

Puro bank loan kami at hindi in-house, kaya yung MA, si bank dapat nagdedetermine nun. Di yun kailangan sa quotation.

[TheUninvited]

Per my last experience with BPI, ok na yung quotation kahit di signed ng dealer (although better kung pirmado para may pinanghahawakan ka). Basta andun yung specifics nung unit na kukunin mo (Brand/Model/Variant/Engine Size/Transmission) at final/discounted price good to go na yan. Or better yet, ask your bank para tama maisubmit mo.

Puro bank loan kami at hindi in-house, kaya yung MA, si bank dapat nagdedetermine nun. Di yun kailangan sa quotation.

Thanks sa reply. Tinawagan na lang ni BPI yung SA ko. Then I received a quote from BPI. The rates are very close sa online calculator.

Free 1yr compre, asking pa if may lockin.

Chattel is not free at almost 16k.

Bali total cashout is yung dp + chattel.

[tr1ck5h07]

Thanks sa reply. Tinawagan na lang ni BPI yung SA ko. Then I received a quote from BPI. The rates are very close sa online calculator.

Free 1yr compre, asking pa if may lockin.

Chattel is not free at almost 16k.

Bali total cashout is yung dp + chattel.

If you avail of the free 1 year insurance, you’re locked in for the duration of the loan.

Rates can be negotiated to be much lower than that of the online calculator.


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[TheUninvited]

If you avail of the free 1 year insurance, you’re locked in for the duration of the loan.

Rates can be negotiated to be much lower than that of the online calculator.


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Yup, did a quicky nego with BPI field sales officer.

I did get slightly lower rates vs sa published rates sa website nila.

[Chuknoy]

Yup, did a quicky nego with BPI field sales officer.

I did get slightly lower rates vs sa published rates sa website nila.

Question lang mga boss. aabot pa ba tayo before magexcise tax kapag ng bank financing? un kc kinakatakot ko e baka mamaya hindi umabot before new yr.

Got an apporval thru inhouse as well as bank financing which is from security bank. Would you siggest to go for bank financing or sa inhouse na? TIA

[Juan Martinez]

Question lang mga boss. aabot pa ba tayo before magexcise tax kapag ng bank financing? un kc kinakatakot ko e baka mamaya hindi umabot before new yr.

Got an apporval thru inhouse as well as bank financing which is from security bank. Would you siggest to go for bank financing or sa inhouse na? TIA

nope. excise tax is an indirect tax levied on the SALE of goods or a particular product.

when you take a car loan, you actually buy the car in cash. it is just that you chattel mortgage your car to the bank as a security to your debt (the money you paid for the car). so if you can't or won't pay your monthly amortization, the bank will foreclose the mortgage and will auction your car to the public.

bank is better than in-house financing. why? just google it.

[Chuknoy]

nope. excise tax is an indirect tax levied on the SALE of goods or a particular product.

when you take a car loan, you actually buy the car in cash. it is just that you chattel mortgage your car to the bank as a security to your debt (the money you paid for the car). so if you can't or won't pay your monthly amortization, the bank will foreclose the mortgage and will auction your car to the public.

bank is better than in-house financing. why? just google it.

Thanks Juan Martinez. What I meant on my question was if mag bank financing ba ko TODAY, aabot pa ba ung timeline ko ng processing, approval and all before the yr end which is the implementation of excise tax?

The scenario here is im approved via inhouse financing and will surely get my unit before the yr end. If ever I changed my financing to bank and di ko makuha ung unit before yr end, d ba almost same ung price na bbyaran ko because of the excise tax which almost above 100k.

[TheUninvited]

Thanks Juan Martinez. What I meant on my question was if mag bank financing ba ko TODAY, aabot pa ba ung timeline ko ng processing, approval and all before the yr end which is the implementation of excise tax?

The scenario here is im approved via inhouse financing and will surely get my unit before the yr end. If ever I changed my financing to bank and di ko makuha ung unit before yr end, d ba almost same ung price na bbyaran ko because of the excise tax which almost above 100k.

Ang alam ko naka lock in na yung rates. Pero you can ask your dealer and the bank.

Btw medyo malaki diff ng rates ng Security and BPI. Try mo pa mag apply sa iba.