car loan

[kamotekid1968]

Sir *whitedevil08048, that was the initial plan, during weekends lang pero nagbago ang isip ko kasi malalaspag ng husto ang oto ko plus church day ng family ang sunday so it's a big no no for us. Nakakaawa kasi ang oto, well opinion ko lang naman. I got it last march 14, 2017 pero ang unit ko sa dealer nakareserve na since february 01, 2017. Last g4 i guess na manufactured from thailand. Tama ang advice ng mga beterano dito, why wait for another 2 months then do the math. You will be surprised kung gaano kalaki ang pinera sayo ng dealer. May look enticing ang low dp nila or promo nila pero at the end of the day, bali baliktarin mo man, laki ng tinubo ng dealer sayo. I was once looking at that low dp pero after i did all the computations, my wife and i decided to go for a direct bank loan instead.

[vinj]

YOLO! Basta ako magaabang lang ako sa mga banko. For sure in 2-3 years ang mura ng mga repo. 😆

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Actually, ang dami ngang repo sa bank na mga Wigo, Eon, etc.

Basta mga low D/P cars, mataas sa hatak list.

[kamotekid1968]

yes sir *vinj, most likely pero di naman lahat. yung iba naman gusto lang mapaikot yung pera, ipapasok sa uber/grab then dun kukunin ang MA for the unit. yung iba, ayaw lang talaga maglabas ng extra amount to keep the MA lower than the offered advertised by "low down promo". a 1-2k difference monthly is a huge discount in the long run, say on a 5 year loan, you'll end up saving 60-120k.

[Syuryuken]

RCBC 23% for 5 years I think mababa na or meron pang mas mababa?

Provincial rate pala itong 23% mas mababa daw pag metro manila ka nag loan.

[kishAn]

RCBC 23% for 5 years I think mababa na or meron pang mas mababa?

Provincial rate pala itong 23% mas mababa daw pag metro manila ka nag loan.

Mababa na yang rate na yan, magkakatalo na lang sa service given you


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[joefyap]

Mga sir. May tanong lang po ako re Car loan. Ganito po kasi nangyari sakin..


Meron kasi ako unpaid credit card years before dahil sa pagpapa swipe ko sa officemate ko na hindi binayaran..

Anyway here's my dilemma (not sure if my dilemma or bank's hehe)


Sinubukan ko mag apply ng carloan last April sa psbank although alam ko na very unlikely akong maaaprove dahil nga sa unpaid credit card balance ko before. Surprisingly after ng interview sakin ng tga psbank via phonecall, nagtext ang psbank na approved daw yung application ko..

So yun kumuha ako ng sasakyan from Toyota Davao.. Eh hindi pala available yung gusto kong unit, so yung AO from psbank ay may nirefer na dealer from manila. So dun ako kumuha sa manila. Nagbayad ako ng down payment at nag process ng papers etc. After ng 1 month, kinuha ko from Manila yung unit.. Then ok na, nasa akin na yung unit and ang gagawin ko nalang is mag monthly deposit sa account ko sa psbank for the auto debit scheme na payment ng carloan ko..


Then after 1 month, this June lang, tumawag ulit ang psbank nag verify ng application ko.. Then wala na akong balita after..

Then kahapon lang tumawag ang toyota asking the number of my AO kasi hindi daw macontact, and ang sabi ng AO daw sa SA ko from Toyota is na decline daw ako? bale nainingil na ang toyota from psbank pero ang problema is hindi ma process ni psbank yung payment kasi declined daw yung loan application ko..

Ang question ko is, ano ang gagawin ko eh nasa akin na yung unit? Although wala namang sinabi ang psbank sakin na isoli or ano, syempre hindi parin ako mapakali. Hehehe. Ang sabi ng AO ng psbank sakin kinocoordinate pa daw nila sa Head Office nila yung loan ko and payment to toyota...

Pa help naman mga sir especially sa mga familiar jan sa banking industry kung ano ang magiging solution dito. Hehehe. Thank you mga sir!

[dr. d]

i am not into finance, but heto ang opinion ko.

in the first place, did you lie to them, when you were applying for the loan?
if you did not, then you have nothing to fear.

"kung isosoli nyo ang pera ko in full, ibabalik ko ang sasakyan. alalahanin ninyo, na hindi ako ang nag-kamali, kung may nag-kamali nga. ang ka-usap nyong bangko ang nag-approve ng loan ko."

"or, we can just continue with the amortization schedule until the car is fully paid. it's your call, sirs."

at ikaw naman TS, ayusin mo na yang credit card issue mo. kakagatin kang muli niyan sa hinaharap. wala kang masisisi diyan kundi sarili mo.

[kishAn]

Mga sir. May tanong lang po ako re Car loan. Ganito po kasi nangyari sakin..


Meron kasi ako unpaid credit card years before dahil sa pagpapa swipe ko sa officemate ko na hindi binayaran..

Anyway here's my dilemma (not sure if my dilemma or bank's hehe)


Sinubukan ko mag apply ng carloan last April sa psbank although alam ko na very unlikely akong maaaprove dahil nga sa unpaid credit card balance ko before. Surprisingly after ng interview sakin ng tga psbank via phonecall, nagtext ang psbank na approved daw yung application ko..

So yun kumuha ako ng sasakyan from Toyota Davao.. Eh hindi pala available yung gusto kong unit, so yung AO from psbank ay may nirefer na dealer from manila. So dun ako kumuha sa manila. Nagbayad ako ng down payment at nag process ng papers etc. After ng 1 month, kinuha ko from Manila yung unit.. Then ok na, nasa akin na yung unit and ang gagawin ko nalang is mag monthly deposit sa account ko sa psbank for the auto debit scheme na payment ng carloan ko..


Then after 1 month, this June lang, tumawag ulit ang psbank nag verify ng application ko.. Then wala na akong balita after..

Then kahapon lang tumawag ang toyota asking the number of my AO kasi hindi daw macontact, and ang sabi ng AO daw sa SA ko from Toyota is na decline daw ako? bale nainingil na ang toyota from psbank pero ang problema is hindi ma process ni psbank yung payment kasi declined daw yung loan application ko..

Ang question ko is, ano ang gagawin ko eh nasa akin na yung unit? Although wala namang sinabi ang psbank sakin na isoli or ano, syempre hindi parin ako mapakali. Hehehe. Ang sabi ng AO ng psbank sakin kinocoordinate pa daw nila sa Head Office nila yung loan ko and payment to toyota...

Pa help naman mga sir especially sa mga familiar jan sa banking industry kung ano ang magiging solution dito. Hehehe. Thank you mga sir!

ygpm, lets see if i can help you


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[joefyap]

ok na daw po pala tumawag psbank sakin ngayon lang.. Ngayon daw nila ibobook yung loan ko.. Di ko alam ano ginawa nila or ano. Parang nag expire ata yung 1st approval ko so nirequest nila ulit. At natagalan daw sila ipa book yung loan ko before dahil sa mga processes like mortgage notarization, tax, etc.


Thanks mga sir!

[_Qwerty_]

ginawan na nila nang paraan yan.. nasayo na yung car eh.. alangan naman bawiin pa nila..

ok na daw po pala tumawag psbank sakin ngayon lang.. Ngayon daw nila ibobook yung loan ko.. Di ko alam ano ginawa nila or ano. Parang nag expire ata yung 1st approval ko so nirequest nila ulit. At natagalan daw sila ipa book yung loan ko before dahil sa mga processes like mortgage notarization, tax, etc.


Thanks mga sir!

[servantguy]

Hi, ask lang if paano ang process or may nakapag loan na ba sa inyo dito na nasa ibang bansa?

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Super sakit sa ulo ng situation na ito if you're not married to a Filipina / Filipino or don't have a capable Pinoy comaker working/residing in The Philippines. In my case, I'm a Dual US / Pinoy Citizen, and I have all the customary Philippine Gov't IDs, proof of billing, BPI / BDO / HSBC bank accounts in my name. But I don't have nor have I ever earned an income from/in Manila. I applied for an auto loan at 50% DP through BPI and BDO. My foreign income was good, above the threshold. Denied. Multiple times. Even with a comaker (albeit a non-family one), denied. Multiple times.

Finally, I tried another bank. And I applied independently (as in just me on the application) and for 20% down. And just this quarter, after a 5 week wait, I received an sms saying my loan was approved. I picked up the car from the dealer last week. It was so gratifying.

More importantly, this is an amazing stepping stone for me to establishing credit history in Manila, as this was a P1M++ loan. In my name. By myself. As someone who is primarily overseas. And not an OFW. Earning no income based in the Philippines. It was a miracle by all accounts...



- servantguy -

[dr. d]

Super sakit sa ulo ng situation na ito if you're not married to a Filipina / Filipino or don't have a capable Pinoy comaker working/residing in The Philippines. In my case, I'm a Dual US / Pinoy Citizen, and I have all the customary Philippine Gov't IDs, proof of billing, BPI / BDO / HSBC bank accounts in my name. But I don't have nor have I ever earned an income from/in Manila. I applied for an auto loan at 50% DP through BPI and BDO. My foreign income was good, above the threshold. Denied. Multiple times. Even with a comaker (albeit a non-family one), denied. Multiple times.

Finally, I tried another bank. And I applied independently (as in just me on the application) and for 20% down. And just this quarter, after a 5 week wait, I received an sms saying my loan was approved. I picked up the car from the dealer last week. It was so gratifying.

More importantly, this is an amazing stepping stone for me to establishing credit history in Manila, as this was a P1M++ loan. In my name. By myself. As someone who is primarily overseas. And not an OFW. Earning no income based in the Philippines. It was a miracle by all accounts...



- servantguy -

i am surprised that they approved it. you must have a great name and a greater smile! heh heh.
so how will they run after you, should you, heaven forbid, fail the monthlies?

[servantguy]

i am surprised that they approved it. you must have a great name and a greater smile! heh heh.
so how will they run after you, should you, heaven forbid, fail the monthlies?

Can't say I have either of those, maybe? But it was grace, most definitely. As for the running after, I was asking myself that question. Maybe it helped that the bank branch is half a kilometer away from my house, or that they know I fly into Manila at least once every quarter to spend time with mom.

I say this because the CI process involved them calling me multiple times asking me "sino gagamit ng sasakyan sir?", to which I said "mom will be driven around". And then followed "nasaan si mommy?" to which I said "sa house, same as my address and same place the car will be parked".


- servantguy -

[rage15]

Super sakit sa ulo ng situation na ito if you're not married to a Filipina / Filipino or don't have a capable Pinoy comaker working/residing in The Philippines. In my case, I'm a Dual US / Pinoy Citizen, and I have all the customary Philippine Gov't IDs, proof of billing, BPI / BDO / HSBC bank accounts in my name. But I don't have nor have I ever earned an income from/in Manila. I applied for an auto loan at 50% DP through BPI and BDO. My foreign income was good, above the threshold. Denied. Multiple times. Even with a comaker (albeit a non-family one), denied. Multiple times.

Finally, I tried another bank. And I applied independently (as in just me on the application) and for 20% down. And just this quarter, after a 5 week wait, I received an sms saying my loan was approved. I picked up the car from the dealer last week. It was so gratifying.

More importantly, this is an amazing stepping stone for me to establishing credit history in Manila, as this was a P1M++ loan. In my name. By myself. As someone who is primarily overseas. And not an OFW. Earning no income based in the Philippines. It was a miracle by all accounts...



- servantguy -

congrats sir!
kasi yung partner ko nasa uk gusto nya kumuha ng car,hindi daw maipapangalan sa kanya yung car while andun siya so sakin nakapangalan siya naging co-maker. good for you posible pala. hehe

[dr. d]

Can't say I have either of those, maybe? But it was grace, most definitely. As for the running after, I was asking myself that question. Maybe it helped that the bank branch is half a kilometer away from my house, or that they know I fly into Manila at least once every quarter to spend time with mom.

I say this because the CI process involved them calling me multiple times asking me "sino gagamit ng sasakyan sir?", to which I said "mom will be driven around". And then followed "nasaan si mommy?" to which I said "sa house, same as my address and same place the car will be parked".


- servantguy -

ah! "we know where your mother lives."
it works everytime.

[karlpublic]

HELLO

Gusto ko lang po ishare,

Nagapply po ako for car loa, search ako sa OLX and then may finillupan akong form, kinabukasan may tumawag sakin PSBank daw nag interview. Tinanong salary ko which is 21k per month LANG.

After 3 days, tumawag sakin Father ko may nag punta daw taga PS Bank for CI. Then right after the call, nagtext sakin PSBank approved daw yung car loan ko? Is this even possible? HAHAH 21k yung total salary ko and I work po sa isang call center with 1 year and 2 months experience only. I'm 23 yrs old po.

Ngayun nagpareservce na po ako by the way ang unit na kukunin ko is Mitsubishi Mirage Hatchback GLS CVT for personal use.

Nagaantay na lang ng unit. May chances pa ba na madecline to? HAHA I mean baka nagkamali lang haha. Magkaka problem ba ako in the future? By the way, mom ko po ang magbabayad ng monthly nito

THANKS

[Mask Rider Blac]

Why Credit Cards Are A Scam - Honest Ads - YouTube

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[servantguy]

HELLO

Gusto ko lang po ishare,

Nagapply po ako for car loa, search ako sa OLX and then may finillupan akong form, kinabukasan may tumawag sakin PSBank daw nag interview. Tinanong salary ko which is 21k per month LANG.

After 3 days, tumawag sakin Father ko may nag punta daw taga PS Bank for CI. Then right after the call, nagtext sakin PSBank approved daw yung car loan ko? Is this even possible? HAHAH 21k yung total salary ko and I work po sa isang call center with 1 year and 2 months experience only. I'm 23 yrs old po.

Ngayun nagpareservce na po ako by the way ang unit na kukunin ko is Mitsubishi Mirage Hatchback GLS CVT for personal use.

Nagaantay na lang ng unit. May chances pa ba na madecline to? HAHA I mean baka nagkamali lang haha. Magkaka problem ba ako in the future? By the way, mom ko po ang magbabayad ng monthly nito

THANKS

Hi karlpublic,

Congrats! For a Mirage, it's very possible. Also, as much as they say the rules are set in stone, there are exceptions and one-offs that end up happening in financing, as the stories here can attest to. All I can say is don't waste the opportunity! That is a blessing.

As for whether the loan can still be denied, do everything on your end as quickly as possible so you won't be seen as the source of delay. All the best to you!

- servantguy -

[dr. d]

HELLO

Gusto ko lang po ishare,

Nagapply po ako for car loa, search ako sa OLX and then may finillupan akong form, kinabukasan may tumawag sakin PSBank daw nag interview. Tinanong salary ko which is 21k per month LANG.

After 3 days, tumawag sakin Father ko may nag punta daw taga PS Bank for CI. Then right after the call, nagtext sakin PSBank approved daw yung car loan ko? Is this even possible? HAHAH 21k yung total salary ko and I work po sa isang call center with 1 year and 2 months experience only. I'm 23 yrs old po.

Ngayun nagpareservce na po ako by the way ang unit na kukunin ko is Mitsubishi Mirage Hatchback GLS CVT for personal use.

Nagaantay na lang ng unit. May chances pa ba na madecline to? HAHA I mean baka nagkamali lang haha. Magkaka problem ba ako in the future? By the way, mom ko po ang magbabayad ng monthly nito

THANKS

once you start paying the monthlies, i do not think they will decline you anymore.
what will they do? repossess the car and refund you in full?
what are they going to do with a slightly used car?

sit back and enjoy your good fortune, sir.

btw...
mirage. hatch.
nice.

[arvs18]

HELLO

Gusto ko lang po ishare,

Nagapply po ako for car loa, search ako sa OLX and then may finillupan akong form, kinabukasan may tumawag sakin PSBank daw nag interview. Tinanong salary ko which is 21k per month LANG.

After 3 days, tumawag sakin Father ko may nag punta daw taga PS Bank for CI. Then right after the call, nagtext sakin PSBank approved daw yung car loan ko? Is this even possible? HAHAH 21k yung total salary ko and I work po sa isang call center with 1 year and 2 months experience only. I'm 23 yrs old po.

Ngayun nagpareservce na po ako by the way ang unit na kukunin ko is Mitsubishi Mirage Hatchback GLS CVT for personal use.

Nagaantay na lang ng unit. May chances pa ba na madecline to? HAHA I mean baka nagkamali lang haha. Magkaka problem ba ako in the future? By the way, mom ko po ang magbabayad ng monthly nito

THANKS

Congrats on your soon to be new car.

Alam ko hindi naman sila mahigpit if yung price ng vehicle is mababa lang naman. Pero pag papalo na yung monthly amortization mo ng 15k+ per month, may chance na magtanong pa sila ng other source of income mo.

But it doesn't matter na since approved ka na