car loan

**playplugg** · February 21st, 2019 01:50 AM

Originally Posted by Heyhey

Hi, I know this is a little off topic, but maybe you have an answer to my question. We got a car from Toyota financed by BDO for a five year contract named after my dad and my mom signed as a co-maker. A year after my dad died but we still continued to pay for it since my mom didn't want any bad record under her name. However, after paying off the car loan, BDO denies issuance of the car's OR CR because of my dad's outstanding credit card balance with BDO. Is this legal? Can they not issue a car's OR CR once it is paid off? Is our asset tied with my dad's credit card balance? Thanks in advance.

Technically..

Since ang ermats ang "Co-Maker"..

Sya ang sasalo.. once na incapacitated/deceased ang Primary Person na nag-loan..(erpats)

Meron sasalo pag dating sa "financial obligation(s)"

IIRC.. kung individual person ang nag-loan at nangyari ang unexpected.. bayad yan, then yung beneficiaries, (immediate family) ang priority nyan.. pag dating sa claim(s)

Medyo malalim na situation yan, pag dating sa bank financing rules at law obligation.. kung paano i-settle down yung mga debt saka yung mga dapat gawin para ma-resolve yung problem na yan.. kailangan ng accountant/auditor at lawyer para ma-resolve yan...

Hindi lang ito applicable sa sasakyan, kahit sa mga properties/rights..even sa mga conjugal properties..

**KalbzZ** · May 21st, 2019 10:50 PM

pag nag pa approve ba tapos na approve na nag bank? pwede pa mag back out kung sakali? halimbawa biglang nag 50% off yung kalaban na brand

**ray_noel** · May 22nd, 2019 05:23 AM

Originally Posted by KalbzZ

pag nag pa approve ba tapos na approve na nag bank? pwede pa mag back out kung sakali? halimbawa biglang nag 50% off yung kalaban na brand

Yes... pa approve ka ulit para sa kalabAn na brand... you can negotiate it with them...

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**misseksaherada** · May 22nd, 2019 07:31 PM

Originally Posted by KalbzZ

pag nag pa approve ba tapos na approve na nag bank? pwede pa mag back out kung sakali? halimbawa biglang nag 50% off yung kalaban na brand

Pwede po.. Recent experience ko po na-approve po ako both in Bank A and B and I made sure na alam din nila both. Then I chose Bank A nakapirma na ako ng loan documents then si Bank B tumawag pa din dahil may incoming promo sila.. When I contacted Bank A, they can still cancel the loan unless di pa sya na process sa main branch. Pero kinausap pa din ako to check thoroughly kung sino ba talaga sa kanila yung merong better offer.

Aggressive po yung banks to close a deal for car loans.. Kaya kayo po ang may power to choose..

Good luck po and sana makakita kayo ng better offer. [emoji41]

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**papi smith** · May 22nd, 2019 07:46 PM

I like the sound of that... The power to choose

**chris45** · May 22nd, 2019 10:48 PM

Originally Posted by misseksaherada

Pwede po.. Recent experience ko po na-approve po ako both in Bank A and B and I made sure na alam din nila both. Then I chose Bank A nakapirma na ako ng loan documents then si Bank B tumawag pa din dahil may incoming promo sila.. When I contacted Bank A, they can still cancel the loan unless di pa sya na process sa main branch. Pero kinausap pa din ako to check thoroughly kung sino ba talaga sa kanila yung merong better offer.

Aggressive po yung banks to close a deal for car loans.. Kaya kayo po ang may power to choose..

Good luck po and sana makakita kayo ng better offer. [emoji41]

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Sino yang bank a and bank b n yn?

**papi smith** · May 22nd, 2019 11:16 PM

Bank of d p Aylands at Banko Be oro

**misseksaherada** · May 23rd, 2019 03:11 PM

Originally Posted by chris45

Sino yang bank a and bank b n yn?

Ay si BPI po and Metrobank that time sila ang may pinaka mababang interest rate nung nag check ako ng banks.. Mga napuntahan ko BPI, Metrobank, BDO and PNB.. Nag settle na ako sa apat di ko na pinuntahan Eastwest at China Bank na meron din sana malapit.. Hehehe

Napili ko yung pinakauna sa nabanggit.. Free 1 year insurance at free din Chattel Mortgage.. tapos pinaka mababa pa na interest rate 9.98% and monthly amortization..

May mga nabasa akong bad reviews dito sa tsikot pero kinausap ko naman dealer ko based sa experience nila oks naman daw sa insurance claims yung nabaggit.. I'm still hoping for the best.. Mas maganda pa rin na hindi ko magamit ang insurance.. di bale gumastos sa insurance wag lang masiraan or maaksidente..

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**_Qwerty_** · May 23rd, 2019 04:19 PM

mag ingat ka sa mga free first year insurance.. most likely naka tie up ka dyan for the rest of your loan and the succeeding years will be very expensive..

Originally Posted by misseksaherada

Ay si BPI po and Metrobank that time sila ang may pinaka mababang interest rate nung nag check ako ng banks.. Mga napuntahan ko BPI, Metrobank, BDO and PNB.. Nag settle na ako sa apat di ko na pinuntahan Eastwest at China Bank na meron din sana malapit.. Hehehe

Napili ko yung pinakauna sa nabanggit.. Free 1 year insurance at free din Chattel Mortgage.. tapos pinaka mababa pa na interest rate 9.98% and monthly amortization..

May mga nabasa akong bad reviews dito sa tsikot pero kinausap ko naman dealer ko based sa experience nila oks naman daw sa insurance claims yung nabaggit.. I'm still hoping for the best.. Mas maganda pa rin na hindi ko magamit ang insurance.. di bale gumastos sa insurance wag lang masiraan or maaksidente..

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**misseksaherada** · May 23rd, 2019 04:32 PM

Originally Posted by _Qwerty_

mag ingat ka sa mga free first year insurance.. most likely naka tie up ka dyan for the rest of your loan and the succeeding years will be very expensive..

Oo nga po.. Exactly naka tie up nga po for 3 years..

3 years warranty ko sa dealer kaya ni make sure ko 3 years lang din lang car loan ko para may extra fund na ako for car insurance na hindi tie up sa bank after..

medyo di clear sakin yung participation fee nila.. ₱2K hindi naman nag increase sa succeeding years.. sa 2nd year ko yung premium is ₱21,946.58 then 3rd year(last) ang premium is ₱19,692..

I'm not sure if mahal sya.. kasi ang ginawa ko na lang po na formula is add the 2 premiums then divide 3 (thinking kunwari di libre ang 1st year) parang ₱14K each year.. naisip ko mukhang oks na ang ₱14K...

Let me know po if meron akong na missed to check para din sa next time ma consider ko and makatulong din sa iba if ever..

Thank you in advance po [emoji4]

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