car loan

[marius28]

most big banks only allow at most a four year old car to be financed be , in which the balance will only be paid for a year.

AMA Bank allows up to eight year old cars at most.

for your scenario, it would be an "ipon" basis or if you would want it put on a loan, a different scenario such as salary or personal loans.

hth.

thanks...

so i see na malabo pala kung 10 year old car ang target ko...

hmmn so maybe ill stick with my first option or maybe im also thinking about financing a seocnd hand car na mas modelo ng onti ..say 8 years down... advisable ba? pero one of my fear is matali ako for more than 3 years sa pagbabayad..

[blueguy]

May I ask what bank? looking to apply for a loan this December, in time for Christmas

BDO...

look for MAZ....he will help you

[jayemkay]

BDO...

look for MAZ....he will help you

Thanks for the reco, i PM'd him already, sana mas maganda offer nya.

[willvill]

Thanks for the reco, i PM'd him already, sana mas maganda offer nya.

I called PSBank and Bpi here in gensan. Their rates fall 35-36 for 5 year term. PS Bank seems more lenient.

[Pacis]

Guys,

Any idea kung mga magkano ang chattel mortgage fees? Kanino ba ito binabayaran sa banko ba? Balak kasi ng father ko na bumili ng 2nd hand na 04-05 na CRV. 50% down tapos 50% financing thru BPI. May nakausap kami sa 2nd hand na dealer (hindi taga BPI) ang sabi around 50-60k daw yung extra cashout for the CM and Insurance. Tama ba itong ballpark figure na ito? Thanks!

[tidus1203]

Di naman ata ganun kataas yan. CM is paid to the government its a kind of tax kinda like documentary stamp tax for legal papers. But CM is for loans.

[willvill]

Guys,

Any idea kung mga magkano ang chattel mortgage fees? Kanino ba ito binabayaran sa banko ba? Balak kasi ng father ko na bumili ng 2nd hand na 04-05 na CRV. 50% down tapos 50% financing thru BPI. May nakausap kami sa 2nd hand na dealer (hindi taga BPI) ang sabi around 50-60k daw yung extra cashout for the CM and Insurance. Tama ba itong ballpark figure na ito? Thanks!

Sa Advie gls sport priced at 840T quotation ko ay: 24,000 insurance and chattel mortagage 14,000.

CM and Insurance I think depends on the price of the car.

[1D4LV]

^^ nope.
insurance depends on the price and value of the car.
chattel mortgage depends on the place where the car will be booked. prices vary. from 10-13k.

when i had my car loaned brand new, i paid 10.8k for CM (recorded in Las Pinas), while yung mga kasama ko, they paid around 12k (recorded in Pasig and in QC).

[1D4LV]

^^ nope.
insurance depends on the price and value of the car.
chattel mortgage depends on the place where the car will be booked. prices vary. from 10-13k.

when i had my car loaned brand new, i paid 10.8k for CM (recorded in Las Pinas), while yung mga kasama ko, they paid around 12k (recorded in Pasig and in QC).

[stainless]

Guys help naman po sa inquiry: I have a 2nd hand car loan in a bank, it was an 18 month deal. I was able to complete all the payment requirements or at least that what I was thinking. Basically my last check for the 18th month amort was DAIF(drawn against insufficient fund) on my bank, and I was never informed about it, thinking that it will settle all of my obligations(negligence as well on my part) di ko na chineck ang status,now I'm trying to get the papers from the bank and suddenly they told me that I have pending dues sa kanila...and the saddest part about it my last check was dated Apr'06 pa so grabe ang interest na pinatong nila sa last month balance ko..

Pero ang tinatanong ko sa kanila ay kung bakit di nila ako ininform about it the first time na nag DAIF ang check? I mean yung address ko I get all of my utility bills and cc bill as well. Nakausap ko yung mgr nila at sabi niya pinadalhan daw ako ng notice, pero ala talaga eh....parang maiisip mo tuloy na may malicious intentions sila on their part na hindi ako iinform...

Can I still do something about this???

Thanks.

[1D4LV]

Guys help naman po sa inquiry: I have a 2nd hand car loan in a bank, it was an 18 month deal. I was able to complete all the payment requirements or at least that what I was thinking. Basically my last check for the 18th month amort was DAIF(drawn against insufficient fund) on my bank, and I was never informed about it, thinking that it will settle all of my obligations(negligence as well on my part) di ko na chineck ang status,now I'm trying to get the papers from the bank and suddenly they told me that I have pending dues sa kanila...and the saddest part about it my last check was dated Apr'06 pa so grabe ang interest na pinatong nila sa last month balance ko..

Pero ang tinatanong ko sa kanila ay kung bakit di nila ako ininform about it the first time na nag DAIF ang check? I mean yung address ko I get all of my utility bills and cc bill as well. Nakausap ko yung mgr nila at sabi niya pinadalhan daw ako ng notice, pero ala talaga eh....parang maiisip mo tuloy na may malicious intentions sila on their part na hindi ako iinform...

Can I still do something about this???

Thanks.

yes, you can still do something about it. since they are quite negligent on the last payment, ask them to waive the interests on the last overdrawn check. i am sure they will agree.

[badbadtz.carlo]

yes, you can still do something about it. since they are quite negligent on the last payment, ask them to waive the interests on the last overdrawn check. i am sure they will agree.

ask them nicely though.. very nicely..
kasi if they remain firm about it, medio may tulog tayo dito.
they can ask why ask for papers now, when you know na matagal pa dapat ciang settled.

just ask nicely, and i'm sure they'll work out an agreement with you.
bad debt na kasi to for them, not to mention the attorney's fees to be considered if magiging case pa to.

good luck sir.

[stainless]

ask them nicely though.. very nicely..
kasi if they remain firm about it, medio may tulog tayo dito.
they can ask why ask for papers now, when you know na matagal pa dapat ciang settled.

just ask nicely, and i'm sure they'll work out an agreement with you.
bad debt na kasi to for them, not to mention the attorney's fees to be considered if magiging case pa to.


good luck sir.

Thank guys!!! Hoping for the best....will talk with them this week will update all of you on this matter.... Thanks again!!

[Frustr8edDriver]

Good day po sa inyo mga Sir/Ma'am

Balak ko po kasi kumuha ng brand new na auto at first time ko po sanang mag-attemp na kumuha ng car loan sa bank. Tanong ko lang po kung may chance po ba akong makag-apply for a car loan kahit po ala akong job... Nabasa ko na po kc yung mga requirements for a car loan dun sa first page nang post na ito...
eto po kasi yung situation...

Sabihin nalang po nating may pera po ako para bilhin ng cash yung car, pero po nanghihinayang po ako na gastusin yun ng biglaan... Naisip ko po kasi na mas okay kung i-i-invest ko muna sa negosyo yung matitirang pera after giving the down payment tapos yung magiging profit nun monthly, eh ipambabayad ko nlang po sa amortization... problem is, my business is not registered with the BIR, so i dont have any supporting documents to present the bank for an application of a car loan... I have assets(land titles) that I can give the bank as a colateral if ever they ask for one, but I dont know if providing colateral will be enough for the bank to grant me the loan... Pls po, paki-enlighten nalang po ako kung posible po sa sitwasyon ko na makapag-apply ako ng car loan. Hindi po kasi ako swerte sa mga 2nd hand na auto eh...^^

Marami po ng Salamat!

[1D4LV]

Good day po sa inyo mga Sir/Ma'am

Balak ko po kasi kumuha ng brand new na auto at first time ko po sanang mag-attemp na kumuha ng car loan sa bank. Tanong ko lang po kung may chance po ba akong makag-apply for a car loan kahit po ala akong job... Nabasa ko na po kc yung mga requirements for a car loan dun sa first page nang post na ito...
eto po kasi yung situation...

Sabihin nalang po nating may pera po ako para bilhin ng cash yung car, pero po nanghihinayang po ako na gastusin yun ng biglaan... Naisip ko po kasi na mas okay kung i-i-invest ko muna sa negosyo yung matitirang pera after giving the down payment tapos yung magiging profit nun monthly, eh ipambabayad ko nlang po sa amortization... problem is, my business is not registered with the BIR, so i dont have any supporting documents to present the bank for an application of a car loan... I have assets(land titles) that I can give the bank as a colateral if ever they ask for one, but I dont know if providing colateral will be enough for the bank to grant me the loan... Pls po, paki-enlighten nalang po ako kung posible po sa sitwasyon ko na makapag-apply ako ng car loan. Hindi po kasi ako swerte sa mga 2nd hand na auto eh...^^

Marami po ng Salamat!

hmmm. hindi ka pwedeng mag loan sa bank ng walang proof of income. meron ka sana because of your business, pero hindi ka pala registered sa BIR. part of the requirement, if you are self-employed is to submit to the bank your business' ITR for last year.

hindi din advisable na ikarga mo sa loan yung mga assets mo.

if i were you, i would ask for your relatives na lang for a loan. or, ipon ka na lang from the proceeds of your business and buy your car in cash.

[Frustr8edDriver]

Marami pong salamat Sir/Ma'am 1D4LV... Sundin ko nalang po siguro yung suggestion nyo na magpa-tulong ako sa relatives ko... GODbless po!!! ^^

[aNthraxx]

Good day po sa inyo mga Sir/Ma'am

Balak ko po kasi kumuha ng brand new na auto at first time ko po sanang mag-attemp na kumuha ng car loan sa bank. Tanong ko lang po kung may chance po ba akong makag-apply for a car loan kahit po ala akong job... Nabasa ko na po kc yung mga requirements for a car loan dun sa first page nang post na ito...
eto po kasi yung situation...

Sabihin nalang po nating may pera po ako para bilhin ng cash yung car, pero po nanghihinayang po ako na gastusin yun ng biglaan... Naisip ko po kasi na mas okay kung i-i-invest ko muna sa negosyo yung matitirang pera after giving the down payment tapos yung magiging profit nun monthly, eh ipambabayad ko nlang po sa amortization... problem is, my business is not registered with the BIR, so i dont have any supporting documents to present the bank for an application of a car loan... I have assets(land titles) that I can give the bank as a colateral if ever they ask for one, but I dont know if providing colateral will be enough for the bank to grant me the loan... Pls po, paki-enlighten nalang po ako kung posible po sa sitwasyon ko na makapag-apply ako ng car loan. Hindi po kasi ako swerte sa mga 2nd hand na auto eh...^^

Marami po ng Salamat!

In your situation mahirap ma grant ka ng loan, loans that are granted without finacial documentation or pre approved by banks happens only if you have a long standing relationship with the bank. For example you had a checking account sa isang bank and for 2 years all your transactions are ok + you can maintain a good balance or palagi substancial laman ng account mo, lets say for the sake of argument more than 100k, they can more or less asses na liquid ka (parati marami cash) at mapag kakatiwalaan.

Aside from that, kung wala ka proof of income malabo. Another method is if you have a "rich" parent or sibling (dapat bigatin work nila), you can apply for a joint ownership nung car or parang co maker mo. I dont know how it really works but it worked for my friend because his stated income is insuffecient for the loan. Anyway an SA sa CASA or a CSA fromt he bank would be able to advice you on that matter...HTH

[Gerbo]

so i see na malabo pala kung 10 year old car ang target ko...

AFAIK, there are financial institutions not necessarily the banks that can still finance even a 15 year old car.

Here's one. Been receiving flyers from them lately in the car windshield. Mukhang wala gaanong nag-avail.
http://www.orange.ph/asialink/products.html

[Frustr8edDriver]

Sir/Ma'am aNthraxx, salamat po... Try ko rin po yung sinabi nyo. Medyo pasok po kasi yung sinabi nyo sa sitwasyon ko... meron po kasi akong existing account sa banko ko. Mga 3yrs narin po yun. Regular po yung pasok ng savings ko dun... bihira lang po mabawasan... try ko po, bka ho sakaling swertehin at payagan ako ng bank ko na i-auto debit nlang sa account ko yung sa car loan... Pag ala na po talagang choice eh, withdraw ko nlang po yung sum na kailangan ko para dun sa car...^^

GODbless po!!!

[1D4LV]

Marami pong salamat Sir/Ma'am 1D4LV... Sundin ko nalang po siguro yung suggestion nyo na magpa-tulong ako sa relatives ko... GODbless po!!! ^^

OT: hindi ako ma'am.... macho ito.... hehehehehe.