car loan

[Syuryuken]

Sir syuryuken,

Dito na magiging factor yung time of delinquency at amount dun sa nag blacklist sayo. Though sa scenario na binigay nyo e whitelisted sa ibang corps. meaning maganda credit standing sa iba. Ang mga titignan ng bank pag ganyang sitwasyon ay ganito:

1. Fully paid na kaya nya tong balance sa nag blacklist sa kanya? Kung oo, banks will ask for the certificate of full payment.

2. Di pa fully paid pero maganda credit standing nya sa iba, mejo risky ka i approve dahil kaya mo maging good payer sa iba pero di mo inaayos yung sa nag blacklist sayo. Pwede ka tanungin ng bank kung anu ba rason ng delinquency mo dati at kung anu plano mo gawin para ayusin yun.

3. Kung may malaking deposit ka at long time client na ng bank, kahit my blacklist ka sa iba e pwede ka nila i approve as long as papayag kang may hold-out sa deposits mo in case mag default ka sa loan.

Pero gaya ng sabi ko sa earlier post ko po, mas binibigyang halaga bgayon ng banks yung good credit standing ng applicant.

Advise lang po, kung mag apply kayo ng malalaking loan, sa simula pa lang kausapin nyo na yung loan officer, be honest po kung my delinquent card loan kayo before lalo nankung fully paid na. Simpleng gesture lang ito pero para sa banks, it shows your honesty at mas pogi points yan sa banks.

thanks sir napakalinaw itong post mo actually blacklisted ako ng globe dahil hindi ko binayaran yung service na hindi ko naman nagamit ilang beses akong nagreklamo hanggang NTC nakaabot yung reklamo ko pero makapal talagang mukha ng globe so nakipagmatigasan na lang ako. thank god hindi naman affected yung credit standing ko sa ibang corporation.

[StockEngine]

Mr Banker wiiiii

TransUnion and CIC and CCAP and CCAP-C4.

About the above, Is TransUnion already finalized and running? And what will happen to the older companies handling/keeping of records?

[Mr.Banker]

Mr Banker wiiiii

TransUnion and CIC and CCAP and CCAP-C4.

About the above, Is TransUnion already finalized and running? And what will happen to the older companies handling/keeping of records?

Sir stockengine, yes sir running na si TransUnion. Sa mga di po nakaka alam, eto po yung sinasabi kong positive bureau na ginagamit na nv nga banks ngayon. Wala naman maging effect sa older companies dahil kailangan pa din ma check sa negative lists ang mga applicant. Kumbaga simultaneous na silang ginagamit para mas maganda ang credit decisioning ng mga banks.

Actually sir stockengine, mas maganda tignan ang TU report kesa sa BAP hits hehe mas kumpleto eh hehe

[ronell10]

Ano po meron sa TU report?

[masonjar]

salamat pala sa mga tips and suggestions.

So I did some bank hopping for the past two days habang nagtatanung din ako dito sa thread. Malaki nga diperensya pag direct to bank ako.

Ang offer sakin thru in-house ay ganito:
Total Cash-out: P123,113
48 months: P14,325
60 months: P12,115

Yung best offer ko so far ay from security bank:
Total cash-out: P126,810 (20% DP, Free Chattel, Free 1 year insurance, P1500 processing fee, P1710 TPL)
48 months: P12,427
60 months: P10,488

Laki din pinagkaiba.

[unmarked]

^^laki ng difference o. Baka kaya mo pa increase DP tas 3 or 4 years. Anyway kung sagad na ung monthly sa 60 mos ung Down nalang ang pag ipunan sayang din ung konting interes.

[jesqatar]

Sir syuryuken,

Dito na magiging factor yung time of delinquency at amount dun sa nag blacklist sayo. Though sa scenario na binigay nyo e whitelisted sa ibang corps. meaning maganda credit standing sa iba. Ang mga titignan ng bank pag ganyang sitwasyon ay ganito:

1. Fully paid na kaya nya tong balance sa nag blacklist sa kanya? Kung oo, banks will ask for the certificate of full payment.

2. Di pa fully paid pero maganda credit standing nya sa iba, mejo risky ka i approve dahil kaya mo maging good payer sa iba pero di mo inaayos yung sa nag blacklist sayo. Pwede ka tanungin ng bank kung anu ba rason ng delinquency mo dati at kung anu plano mo gawin para ayusin yun.

3. Kung may malaking deposit ka at long time client na ng bank, kahit my blacklist ka sa iba e pwede ka nila i approve as long as papayag kang may hold-out sa deposits mo in case mag default ka sa loan.

Pero gaya ng sabi ko sa earlier post ko po, mas binibigyang halaga bgayon ng banks yung good credit standing ng applicant.

Advise lang po, kung mag apply kayo ng malalaking loan, sa simula pa lang kausapin nyo na yung loan officer, be honest po kung my delinquent card loan kayo before lalo nankung fully paid na. Simpleng gesture lang ito pero para sa banks, it shows your honesty at mas pogi points yan sa banks.

Mr. Banker,

How about if i have an existing loan and plan to apply for another loan (different item), do I need to declare the existing loan? Considering that it is within my budget and good payer. Secondly, can i expedite the payment of my loan (car loan) to reduce the number of years by paying considerable amount after you have taken the loan? Appreciate your input sir. TIA

[EQAddict]

Yes you have to declare your existing loan. Its in one of the fields in the application. They will asknif either your car or house is mortgaged (under loan).

Check the details of your car loan. Others allow you to pay lump sum and recompute your new monthly payments. Others don't allow this.

And I suggest you don't take two simultaneous loans for a depreciating item like a car. Self discipline is required even if you think you can afford it. Pay off the existing loan in full and then get the next car.

[jesqatar]

thanks sir, no i am not planning for the second car loan. i am thinking about a piece of land which is quite a good investment.

[Mr.Banker]

Mr. Banker,

How about if i have an existing loan and plan to apply for another loan (different item), do I need to declare the existing loan? Considering that it is within my budget and good payer. Secondly, can i expedite the payment of my loan (car loan) to reduce the number of years by paying considerable amount after you have taken the loan? Appreciate your input sir. TIA

Hi jesqatar,

EQAddict already answered your questions. Just to add, even if you did not declare your existing loan, banks using the transunion report will still find out about it so better to declare it during your application.

You may opt to pay a substantial amount to reduce your balance however banks will most likely charge you a "pre-termination fee".

This is because banks already expects to earn interest from your car loan for the whole loan term but since you'll pay it off early, they'll have to recover some of that interest from you.

[TheUninvited]

Mga paps quick question lang.

I have a 2005 City na plano ko ng ibenta kase na hahassle na ko sa mga repairs at wala na kong time.

So basically may idea na ko sa gastusin sa kotse since I have this car for 5 years already.

Bali yung makukuha kong cash dun ipang down ko na to get a new one. Maybe a City/Vios/Mirage or basta mga kalevel nila.

Probably 20-30% DP yun. Then 3-5 years yung monthly depende kung magkano.

Hingi lang ako opinion if sa tingin nyo maapprove ako. Let's say sa BPI ako mag apply.

Sa BPI I have:

1. Savings acct with more or less 100k lang.
2. Credit card 96k limit, never nagka overdue.

btw ang take home ko is 50k lang a month and I'm 25y/o if that matters?
Also kakalipat ko lang ng company (after working for 5 years).

Please don't flame and sabihin na try ko na lang mag apply lol

salamat po sa sasagot

[unmarked]

Kaya ng take home pay mo ang MA. May credit history ka din and it looks good, so may chance na magandang rate makuha mo. Wala ka naman sinabi na may iba kang loan, so i take it na wala.

[shadow]

Mga paps quick question lang.

I have a 2005 City na plano ko ng ibenta kase na hahassle na ko sa mga repairs at wala na kong time.

So basically may idea na ko sa gastusin sa kotse since I have this car for 5 years already.

Bali yung makukuha kong cash dun ipang down ko na to get a new one. Maybe a City/Vios/Mirage or basta mga kalevel nila.

Probably 20-30% DP yun. Then 3-5 years yung monthly depende kung magkano.

Hingi lang ako opinion if sa tingin nyo maapprove ako. Let's say sa BPI ako mag apply.

Sa BPI I have:

1. Savings acct with more or less 100k lang.
2. Credit card 96k limit, never nagka overdue.

btw ang take home ko is 50k lang a month and I'm 25y/o if that matters?
Also kakalipat ko lang ng company (after working for 5 years).

Please don't flame and sabihin na try ko na lang mag apply lol

salamat po sa sasagot

Kaya Kung wala ka ng ibang gastos. Yun 50k net na ba yan? Less mo pa lahat ng expenses mo? Are you renting, grocery, utilities, cellphone load or postpaid ka.

Kwentahin mo muna mabuti.


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[jut703]

Definitely maaapprove yan. I know of people who got loans with much lower take home pay. General rule is your monthly amortization shouldn't exceed 40% of your take home pay, which fits your case.

I'd assume that at 25 y/o you don't have dependents yet. So I don't see why you should have a hard time paying off your loan.


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[TheUninvited]

Salamat sa mga nag reply mga sirs.

Are you
renting - no living with parents haha
grocery, - seldom
utilities, - girlfriend/travel? haha
cellphone load or postpaid ka. - 499 a month
Yun 50k net na ba yan? - yes net
Wala ka naman sinabi na may iba kang loan, so i take it na wala. - yes wala

other than that wala ako gastos. tantsahin ko muna, siguro by next year. Lalo na pag lumabas yung face lifter Mirage/G4. hehe

main gastos ko lang is
1. date (kasama travel pero 1-2x a year lang)
2. parking
3. gas
4. maintenance and repairs

Pero parang mas maganda unahin yung condo/bahay since nalalapit na ko sa marrying age. hahaha.

salamat sa insights! truly helps!

[jut703]

Mas ok magpundar for a condo/house IMO, but of course for most people hindi siya kasing exciting ng kotse.

However, what makes me happy with my monthly amortization for my condo is that kahit nababawasan yung pera ko, technically I'm not losing any value since the property doesn't depreciate.

Unlike sa kotse, endless money pit yan.


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[_Cathy_]

Salamat sa mga nag reply mga sirs.

Are you
renting - no living with parents haha
grocery, - seldom
utilities, - girlfriend/travel? haha
cellphone load or postpaid ka. - 499 a month
Yun 50k net na ba yan? - yes net
Wala ka naman sinabi na may iba kang loan, so i take it na wala. - yes wala

other than that wala ako gastos. tantsahin ko muna, siguro by next year. Lalo na pag lumabas yung face lifter Mirage/G4. hehe

main gastos ko lang is
1. date (kasama travel pero 1-2x a year lang)
2. parking
3. gas
4. maintenance and repairs

Pero parang mas maganda unahin yung condo/bahay since nalalapit na ko sa marrying age. hahaha.

salamat sa insights! truly helps!

50k net and you have 100k in savings tapos yan lang gastos mo? Do you go to the US or Europe yearly or fine dining restos weekly? You should be able to save half of your salary easily.

[TheUninvited]

50k net and you have 100k in savings tapos yan lang gastos mo? Do you go to the US or Europe yearly or fine dining restos weekly? You should be able to save half of your salary easily.

Almost every weekend date kami, pero hindi naman fine dining palagi. hehe.

Also, can't afford to go to the US/EU lol. Local and SEA countries pa lang so far.

I'm saving 30-40% per month. Sorry OT na haha

[jesqatar]

mga bossing, pag in-house financing po magkano po yng interest rate? nagtatanong po kasi kasamahan ko dito. salamat po.

[unmarked]

^^depende yan sa credit standing nya sa banko. Kung wala kang credit history e di hindi ka mabibigyan ng kagandahan na rate hindi nila alam ang risk sayo e.