car loan

[dr. d]

hello mga ka-tsikot,

nagbabasa ako sa mga thread dami ko nalalaman.

newbie lang ako gusto ko sana malaman opinion o advise niyo.

first time ko mag car loan sana, i am earning 45-50k monthly with allowance pa, di pa bawas tax, sss, pagibig etc.

nag-apply ako sa dealer for hyundai eon glx mt noong december 2017. maliit na sasakyan lang gusto ko dahil newbie driver din ako. at the same time di ganun kataas monthly niya. solo lang wala co-maker. may tumawag naman at nagCI kaso wala na update hanggang ngayon.

nitong nakaraan lang sabi ng SA need additional co-maker for eastwest bank, kaya hinihingan ko ng documents kapatid ko para i-add as co-maker.

nage-mail ako sa eastwest to follow-up my application para malaman status, naiinip na din kasi ako. sabi sa akin declined daw, i asked kung bakit di na nagbigay details.

wala po ako bad credit history, never had a credit card. i have an account in bdo for 2 years na.

gusto ko sana sa eastwest dahil may promo 0% down, may freebies na din like 3 years lto, insurance etc. MA 5 years 10k plus.

may pang down naman ako dahil pinaghandaan ko na din, pero yung hyundai eon madalas sa mga dealer zero down o 5k o 8k down.

tanong lang in case mag pasa pa ako ng additional co-maker kay SA will it make any difference kaso declined na ako sa eastwest based sa reply nila sa akin s e-mail?

last year 2 months ko pinag isipan kung kukuha ako ng sasakyan, cnompute ko na budget ko at magkano kaya ko MA. gusto ko talaga kumuha ng sasakyan dahil minsan o madalas ang hirap mag-commute talaga.

thanks. respect to post po.

it's difficult to say, because we do not know the basis for your alleged disapprovement.
perhaps if you find out the reason...

but if i were to hazard a guess,
i would not push thru with my plan to get a car.
these loan officers probably know a thing or two, about poor risk customers.
"they have bodegas-full of learning material in the from of re-possessed cars, to learn from."

[Trippin]

hello mga ka-tsikot,

nagbabasa ako sa mga thread dami ko nalalaman.

newbie lang ako gusto ko sana malaman opinion o advise niyo.

first time ko mag car loan sana, i am earning 45-50k monthly with allowance pa, di pa bawas tax, sss, pagibig etc.

nag-apply ako sa dealer for hyundai eon glx mt noong december 2017. maliit na sasakyan lang gusto ko dahil newbie driver din ako. at the same time di ganun kataas monthly niya. solo lang wala co-maker. may tumawag naman at nagCI kaso wala na update hanggang ngayon.

nitong nakaraan lang sabi ng SA need additional co-maker for eastwest bank, kaya hinihingan ko ng documents kapatid ko para i-add as co-maker.

nage-mail ako sa eastwest to follow-up my application para malaman status, naiinip na din kasi ako. sabi sa akin declined daw, i asked kung bakit di na nagbigay details.

wala po ako bad credit history, never had a credit card. i have an account in bdo for 2 years na.

gusto ko sana sa eastwest dahil may promo 0% down, may freebies na din like 3 years lto, insurance etc. MA 5 years 10k plus.

may pang down naman ako dahil pinaghandaan ko na din, pero yung hyundai eon madalas sa mga dealer zero down o 5k o 8k down.

tanong lang in case mag pasa pa ako ng additional co-maker kay SA will it make any difference kaso declined na ako sa eastwest based sa reply nila sa akin s e-mail?

last year 2 months ko pinag isipan kung kukuha ako ng sasakyan, cnompute ko na budget ko at magkano kaya ko MA. gusto ko talaga kumuha ng sasakyan dahil minsan o madalas ang hirap mag-commute talaga.

thanks. respect to post po.

Then just apply from other banks since meron ka din naman palang pang downpayment.

It is for your own benefit in the end na mas maliit ang auto loan mo para mas madali mo syang mabayaran (mas magaan ang monthly), unless you have investments to put your money in that earns a lot more than the interest on the auto loan.

[whitebeard_]

noted, thank you very much sa advise dr.d and Trippin god bless

[DesignerMice]

Hi guys! Need your help and opinion sa case ko.

Nag apply ako ng car loan in-house financing sa Suzuki Shaw para sa unit na Suzuki Ertiga. Naapproved ako sa EastWest Bank ng December 28, 2017. Then tinawagan ako ng agent ko na ok na daw kelan daw ako makakapag DP..since holiday season at medyo mahirap mag withdraw that time ng malaki ang sabi ko January 3, 2018 na ko makakapag DP..and sabi nya kahit mag deposit na daw muna ako ng 5k para mareserve ang unit.. First time ko po mag apply ng car loan.. at nag deposit ako sa kanya ng 5k kinabukas dec. 29.

Come January 3, 2018, pumunta na kame ng Suzuki Shaw with all the requirements and DP. Made the transaction and nakapag DP na at wait na lang daw po sa release date ng kotse which is later that week daw or early next week daw sabi nya. Again this is my first time mag apply ng car loan. Hindi ko alam na pwede nmn pala mag DP sa mismong release ng unit and to my knowledge it takes a week or two to release a unit.

Then habang nag aantay for our unit that week since member ako ng mga auto club sa social media nakita yung mga nag apply ng car loan sa branch same unit as mine na narelease na ang mga unit nila and ambilis daw ng process ganito ganyan..so napaisip ako bakit samin ang tagal..

Lumipas na yung mga dates kung saan marerelease daw yung unit at humingi na din ako ng update.
Ang reason daw is inaantay na lang daw marelease yung units from stockyard dahil wala pa CSR(Certificate of Stock Request). By next week baka meron na ..to cut it short it's more than 2 weeks na waiting namin and I try to talk to other agent from a different branch(E.Rod) told the agent about my situation and sabi nya sobrang tagal nga daw. She offered na ilapit sa branch nila kasi meron sila available na 2 units pa and ipatransfer ang bank approval to their branch which I did signed the request to transfer letter, same day I informed the other agent the mag cacancel na ako sa branch nila and mag request ng refund and then biglang marerelease daw ang unit tomorrow kaya daw.

Help me decide guys need your honest and expert opinion to this matter. Erod agent is asking for 20k DP to follow na lang daw kulang pag nakuha refund sa kabila para daw marelease worst is saturday.
and nalaman ng Shaw agent na pinalipat ko sa erod yung bank approval dahil tumawag sa kanya yung bank. Mag kakaproblema ba ko sa refund pag ganito yung kaso? Tama bang lumipat na lang ako ng agent?

Maraming salamat po sa lahat ng makakatulong.

[ntlogin]

Wala. If you have an approved PO. Madali lang naman i ammend.

Nagkaka problem ba sa auto loan if yung client palipat lipat ng dealer?

Yung auntie ko kasi, nag apply ng auto loan na approved ng TFS. Tapos nagpunta ng Toyota Alabang pinag ddown sila ng 140k ata, tapos pumunta ng Toyota Pasong Tamo almost same din down, then punta ng Toyota Bicutan 120k down naman. Tapos nagka problema sila kasi biglang etong Alabang sabi may unit daw sa Friday, pero 180k daw down. Then inapproach ako, dinalanko sa BGC kasi 90k down same monthly sa lahat. Eh di pina cancel na nil yung from Bicutan na pila nila. Tapos okay na umandar na process pinag aantay ng agent na lang ng next week til next next week. Then biglang tumawag nanaman sa agent sa BGC na inalok sila ng Alabang ulit bukas release pero 130k down. Nakakainis lang sa aunt ko nagmamadali sobra! Kaya naguluhan yung agent ko sa BGC, which he doubt na may unit daw sa Alabang.

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[jaggerx3]

Wala. If you have an approved PO. Madali lang naman i ammend.

TFS approved sila eh. Tapos parang imposible na maka release sa alabang agad, d pa nakaka cancel ung sa bgc nila eh

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[tikling]

Hello mga ka-tsikot. Tapos ko na mabayaran ang aking vios 2014 sa East West bank. May agent ako nun pero balak ko ngayun mag-direct na lang sa bank.

Balak ko kumuha ng mas maliit, yung Wigo. Ang tanong, mas madali na kaya ako ma-approved since nakatapos na ako maghulog? Malinis naman record ko since diretso at walang palya buwan buwan ang hulog ko noon.

[dos2]

Hello mga ka-tsikot. Tapos ko na mabayaran ang aking vios 2014 sa East West bank. May agent ako nun pero balak ko ngayun mag-direct na lang sa bank.

Balak ko kumuha ng mas maliit, yung Wigo. Ang tanong, mas madali na kaya ako ma-approved since nakatapos na ako maghulog? Malinis naman record ko since diretso at walang palya buwan buwan ang hulog ko noon.

Definitely yes, lalu na kung you have a higher salary when you apply for your first car loan and improved status (e.g. house is owned or with an income generating business). Plus din that your next car is more affordable than the first.

Good thing you've decided to apply directly.

[dr. d]

Nagkaka problem ba sa auto loan if yung client palipat lipat ng dealer?

Yung auntie ko kasi, nag apply ng auto loan na approved ng TFS. Tapos nagpunta ng Toyota Alabang pinag ddown sila ng 140k ata, tapos pumunta ng Toyota Pasong Tamo almost same din down, then punta ng Toyota Bicutan 120k down naman. Tapos nagka problema sila kasi biglang etong Alabang sabi may unit daw sa Friday, pero 180k daw down. Then inapproach ako, dinalanko sa BGC kasi 90k down same monthly sa lahat. Eh di pina cancel na nil yung from Bicutan na pila nila. Tapos okay na umandar na process pinag aantay ng agent na lang ng next week til next next week. Then biglang tumawag nanaman sa agent sa BGC na inalok sila ng Alabang ulit bukas release pero 130k down. Nakakainis lang sa aunt ko nagmamadali sobra! Kaya naguluhan yung agent ko sa BGC, which he doubt na may unit daw sa Alabang.

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sit down and crunch the numbers. see how much you're actually going to be paying, in the end.
then decide and stick to the decision.

one thing i have learned about the auto industry. "there's nothing free." but they know where to hide the numbers.

[dreamur]

Sabi mo for release na tomorrow sa shaw so ituloy mo na lang para wala ng gulo. Pahirapan pa pagkuha ng refund. Lesson learned na lang. Good luck!

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[EQAddict]

I agree with dreamur. Refunds take a long time to process.




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[SpinCycle]

Give your agent an ultimatum. If they can’t release today, lilipat ka ng dealer.


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[rico.v]

Actually po, we're thinking of paying the car in cash (for vios 1.3 j). We have available fund to pay 50% of the amount while the other half (300k) will be through personal loan in a rural bank. Mas makakatipid po ba kmi kasi mas mababa interest for personal loan? And, can we haggle the price for the car since magpu-full payment nman kami sa dealer?

What are your opinions about this?

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[fleas2016]

Actually po, we're thinking of paying the car in cash (for vios 1.3 j). We have available fund to pay 50% of the amount while the other half (300k) will be through personal loan in a rural bank. Mas makakatipid po ba kmi kasi mas mababa interest for personal loan? And, can we haggle the price for the car since magpu-full payment nman kami sa dealer?

What are your opinions about this?

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Personal loans usually yields higher interest than a regular auto loan even if the rate is different due to various factors such as the interest calculation method. Just get the product of the monthly amortization and the term and compare right away. Assuming EMI.

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[ale828]

Correct. Personal Loans usually gets the highest interest rate for Loans.

its easier to get a Car Loan with a bigger down payment. Since you have already been approved for a personal loan its easier to get that Car Loan with smaller Interest rate. Maximum DP for car loans is 50% naman.

[rico.v]

Correct. Personal Loans usually gets the highest interest rate for Loans.

its easier to get a Car Loan with a bigger down payment. Since you have already been approved for a personal loan its easier to get that Car Loan with smaller Interest rate. Maximum DP for car loans is 50% naman.

Based on my calculation po ( assuming it is correct) pg mga nsa 350k na loan amount, pg personal loan mga nsa 20% ang interest including mga charges payable in 3 years. While ung autoloan mga nsa 25% payable in 5 years. San po kya mas mkkatipid. Both have 10k++ monthy amortization.

Another question po, pg full payment bnili ung vehicle wala na chattel mortgage? Di po kc ako familar s mga ganyang term. Pag wala po, meaning mas mkkatipid kami pg binili ng cash?

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[ale828]

Based on my calculation po ( assuming it is correct) pg mga nsa 350k na loan amount, pg personal loan mga nsa 20% ang interest including mga charges payable in 3 years. While ung autoloan mga nsa 25% payable in 5 years. San po kya mas mkkatipid. Both have 10k++ monthy amortization.

Another question po, pg full payment bnili ung vehicle wala na chattel mortgage? Di po kc ako familar s mga ganyang term. Pag wala po, meaning mas mkkatipid kami pg binili ng cash?

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Why not get the car Loan for 3 years? it would surely get a lower interest rate than the Personal loan of the same duration.
if you buy cash mas mura syempre wala interest, plus not if its still possible sure but you can option out of a full insurance and just get the Third party insurance.

[rico.v]

Salamat po s mga input nyo.

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[Query453]

I got mine for 9.15% for 3 years.. but that is an annual rate... effective rate is 14.87% - cbc


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[KcireReaver]

how much ussually is chattel mortgage?

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