car loan

[pinkies]

A cousin has CMAP problem and wanted to apply for a car loan, although naka bayad na sya pero ung name nya nasa CMAP pa din. Should she apply directly sa bank with all her requirements? kasi na deny din sya when she applied through her SA.

[servantguy]

A cousin has CMAP problem and wanted to apply for a car loan, although naka bayad na sya pero ung name nya nasa CMAP pa din. Should she apply directly sa bank with all her requirements? kasi na deny din sya when she applied through her SA.

In this case, try and try. You never know which bank will be able to help. Or bank employee/branch. That CMAP flag will make things difficult, but it's not impossible.

- servantguy -

[ragingpotatoes]

Ask lang po mga boss first time buyer po ng tsikot, today po nagpay na ako ng DP and pumirma na ako, my wife and my co-maker sa bank na nagapprove ng autoloan namin then since di ko nakuha yung details ng unit ko from my SA (he promised to send the next day daw) ang sabi sa akin sa bank is PO lang daw yung mafafax nya and to follow nalang daw yung ATD. Sabi ni SA sa akin yung dalawang document daw kelangan nya para makapagrelease ng unit. Ibig po bang sabihin non kahit nagbayad ako ng reservation eh di padin nakasecure yung unit sa akin and kelangan muna ni SA ng PO bago mabigay yung details ng kotse? second question po mga boss, ok lang po ba na sa bank ako nagayad ng DP sabi kasi sa akin ayun daw ang policy nila? OFW din po kasi ako and 12 days nalang aalis na ako kaya gusto ko sana mailabas na yung unit asap..

Thank you po in advance

[kishAn]

Ask lang po mga boss first time buyer po ng tsikot, today po nagpay na ako ng DP and pumirma na ako, my wife and my co-maker sa bank na nagapprove ng autoloan namin then since di ko nakuha yung details ng unit ko from my SA (he promised to send the next day daw) ang sabi sa akin sa bank is PO lang daw yung mafafax nya and to follow nalang daw yung ATD. Sabi ni SA sa akin yung dalawang document daw kelangan nya para makapagrelease ng unit. Ibig po bang sabihin non kahit nagbayad ako ng reservation eh di padin nakasecure yung unit sa akin and kelangan muna ni SA ng PO bago mabigay yung details ng kotse? second question po mga boss, ok lang po ba na sa bank ako nagayad ng DP sabi kasi sa akin ayun daw ang policy nila? OFW din po kasi ako and 12 days nalang aalis na ako kaya gusto ko sana mailabas na yung unit asap..

Thank you po in advance

PO and RF will suffice to secure the unit then dapat magbigay na ng unit details si SA kung available na ang unit. With regards to DP kahit sa bank or dealer pwede nman but mas gusto ng dealer na sa kanila ang DP. Once masubmit mo na lahat ng requirements, makabayad ng charges, maka pirma na ng loan docs, at wala ng problema lahat ng documents bank to issue ATD


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[leevanf]

Guys, can anyone help me in my situation?

The owner is selling a bank financed 2013 August Registry car he claims to have fully paid for already. Its the exact price, model, and spec in my budget so I really want it.

However, he does not have the docs but already called the bank for document pickup. In the meantime, I asked if he could send me at least a photocopy of his CR/OR -

To help me at least draft the deed of sale while waiting, what he vibered me are:
1. Copy of CR when he first got the car - i noticed under his name already, but no ENCUMBERED stamp or anything. Is this normal?
2. Pic of the OR - the OR is 2016. Meaning he has not registered the car yet this 2017. He told me "registered na" and hihingi nalang rin niya sa bank advanced copy.. Hindi ba siya dapat nag rerenew and may copy ng orig 2017 OR or pati yung 2016 and 2017 OR nasa bank?/bank gumagawa?
3. IDs - no prob

Next, he doesnt seem like hes in the mood for doing the Registry of deeds thing. So I said I am willing to do it after our transaciton. am I correct that after he picks the docs up from the bank, I should ask for the:
(a) Original Release of Chattel Mortgage
(b) Copy of Promissory Note
(c) Original CR plus latest 2017 OR

Is this a safe transaction? Deed of sale + cash in exchange for the paperwork he will give me that I still need to RD + LTO?
From what I know I will then bring these to the RD and get a "Cancellation of Chattel Mortgage" document.
Then, go to LTO to do the official change.

Is this ok? or am i being too paranoid?

[dr. d]

Guys, can anyone help me in my situation?

The owner is selling a bank financed 2013 August Registry car he claims to have fully paid for already. Its the exact price, model, and spec in my budget so I really want it.

However, he does not have the docs but already called the bank for document pickup. In the meantime, I asked if he could send me at least a photocopy of his CR/OR -

To help me at least draft the deed of sale while waiting, what he vibered me are:
1. Copy of CR when he first got the car - i noticed under his name already, but no ENCUMBERED stamp or anything. Is this normal?
2. Pic of the OR - the OR is 2016. Meaning he has not registered the car yet this 2017. He told me "registered na" and hihingi nalang rin niya sa bank advanced copy.. Hindi ba siya dapat nag rerenew and may copy ng orig 2017 OR or pati yung 2016 and 2017 OR nasa bank?/bank gumagawa?
3. IDs - no prob

Next, he doesnt seem like hes in the mood for doing the Registry of deeds thing. So I said I am willing to do it after our transaciton. am I correct that after he picks the docs up from the bank, I should ask for the:
(a) Original Release of Chattel Mortgage
(b) Copy of Promissory Note
(c) Original CR plus latest 2017 OR

Is this a safe transaction? Deed of sale + cash in exchange for the paperwork he will give me that I still need to RD + LTO?
From what I know I will then bring these to the RD and get a "Cancellation of Chattel Mortgage" document.
Then, go to LTO to do the official change.

Is this ok? or am i being too paranoid?

i do not like to transact business over a car whose ownership paperworks are still in transit.
i recommend potential buyer wait a while, until the papers are in, and the true legal owner is properly identified.
"too many loose ends."

[pinkies]

question here...may bearing ba sa pag apply ng car loan if ung maiden name ang gagamitin?

[kishAn]

question here...may bearing ba sa pag apply ng car loan if ung maiden name ang gagamitin?

Per experience, if ma CI sya as single i think lulusot


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[ragingpotatoes]

PO and RF will suffice to secure the unit then dapat magbigay na ng unit details si SA kung available na ang unit. With regards to DP kahit sa bank or dealer pwede nman but mas gusto ng dealer na sa kanila ang DP. Once masubmit mo na lahat ng requirements, makabayad ng charges, maka pirma na ng loan docs, at wala ng problema lahat ng documents bank to issue ATD


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Thank you for the info boss. Tomorrow release na po ng unit, ano po ba yung mga dapat kong tanungin, hingiin or i-inspect sa casa? Ano pong mga details na kelangan kong masigurado bago idrive pauwi si tsikot? thank you po ule in advance.

[pinkies]

Per experience, if ma CI sya as single i think lulusot


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thank you for answering, puedeng pa share naman ng experience mo?

[kabute13]

Ask lang po mga boss first time buyer po ng tsikot, today po nagpay na ako ng DP and pumirma na ako, my wife and my co-maker sa bank na nagapprove ng autoloan namin then since di ko nakuha yung details ng unit ko from my SA (he promised to send the next day daw) ang sabi sa akin sa bank is PO lang daw yung mafafax nya and to follow nalang daw yung ATD. Sabi ni SA sa akin yung dalawang document daw kelangan nya para makapagrelease ng unit. Ibig po bang sabihin non kahit nagbayad ako ng reservation eh di padin nakasecure yung unit sa akin and kelangan muna ni SA ng PO bago mabigay yung details ng kotse? second question po mga boss, ok lang po ba na sa bank ako nagayad ng DP sabi kasi sa akin ayun daw ang policy nila? OFW din po kasi ako and 12 days nalang aalis na ako kaya gusto ko sana mailabas na yung unit asap..

Thank you po in advance

Re the DP: You can choose whether paying it on the bank or on the dealer. Tell the bank who will issue the PO to indicate the DP "c/o bank" in the PO if you prefer paying it on the bank.

Re the ATD, the bank can issue it upon payment of the DP, even wala pa yung details ng unit.

On my case for example:
Jul-28/Fri: the bank issued PO to the dealer
Jul-31/Mon: i pay the DP. Then after 2 hours, the bank send ATD to the dealer via e-mail (me in copy). That day wala pang available unit, but the SA confirmed that there are coming in.
Aug-1/Tue: My SA informed me that units just arrived.
Aug-2/Wed: Since I was given free rust proofing, ipinasok nila yung unit for rust proofing and informed me that there is a 3-day lead time to have it completely dry.
Aug-5/Sat: They delivered the unit.




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[dr. d]

question here...may bearing ba sa pag apply ng car loan if ung maiden name ang gagamitin?

but why? are you hiding something? because if you are, they will eventually find out, and maybe to your detriment.
just tell them that you're married. and that you still use your maiden name.
of course, you may have to provide proof of this.

[pinkies]

but why? are you hiding something? because if you are, they will eventually find out, and maybe to your detriment.
just tell them that you're married. and that you still use your maiden name.
of course, you may have to provide proof of this.

because husband has CMAP problem.

[pinkies]

follow up question, in case ma approve kami ng car loan for a specific car (Lancer) puede ba namin magamit ung approval na un sa ibang car say honda or toyota?

[leevanf]

Hi guys, I am buying a second hand car from someone and we are just waiting for the bank to release his CR. He did however present to me a certified letter from the bank that says his auto loan has been fully paid already.

Our problem now is why is BDO taking so long to release the cr and chattel? It's been 13 working days now. Plus they are asking for another 10 days. Parang 10 days Lang ng 10 days Parating sagot when we follow up.

Even with just a letter, is it safe to already pay him and sign the deed of sale already?
Tapos to follow nalang cr?

Ang Tagal ng BDO its frustrating. Any BDO contacts you can share that can help us out here?

[_Qwerty_]

Wait for the CR to be sure.

Hi guys, I am buying a second hand car from someone and we are just waiting for the bank to release his CR. He did however present to me a certified letter from the bank that says his auto loan has been fully paid already.

Our problem now is why is BDO taking so long to release the cr and chattel? It's been 13 working days now. Plus they are asking for another 10 days. Parang 10 days Lang ng 10 days Parating sagot when we follow up.

Even with just a letter, is it safe to already pay him and sign the deed of sale already?
Tapos to follow nalang cr?

Ang Tagalog ng BDO its frustrating. Any BDO contacts you can share that can help us out here?

[jeponkz]

Best bank for car loan?

[dr. d]

Hi guys, I am buying a second hand car from someone and we are just waiting for the bank to release his CR. He did however present to me a certified letter from the bank that says his auto loan has been fully paid already.

Our problem now is why is BDO taking so long to release the cr and chattel? It's been 13 working days now. Plus they are asking for another 10 days. Parang 10 days Lang ng 10 days Parating sagot when we follow up.

Even with just a letter, is it safe to already pay him and sign the deed of sale already?
Tapos to follow nalang cr?

Ang Tagal ng BDO its frustrating. Any BDO contacts you can share that can help us out here?

you did not yet hand over the money, now, did you?

as i said before, it is not wise to purchase a car whose ownership is still in question.
be aware, po, that ang kausap ng bangko ay yung "seller" ng car, hindi kayo.

ahem.. the longer the documents are released, the more i should suspect hankies and pankies. so should you, po.

[pinkies]

we have a car loan application, nag verify na ang credit officer last thursday. until now wala pa results, sabi 5-7 banking days daw. ganun ba talaga ka tagal?

[Syuryuken]

we have a car loan application, nag verify na ang credit officer last thursday. until now wala pa results, sabi 5-7 banking days daw. ganun ba talaga ka tagal?

1-3 days lang dapat yan.