car loan

[jeDi13]

OT: ahaha.. natawa naman ako run.. bayaan mo na sir, safe naman post niya kasi may "/" hehe..

bilhin mo nalang in cash. sayang lang yung ibabayad mo sa interest pag nag-loan ka. instead na makamura ka, mapapamahal ka pa tuloy.

[aNthraxx]

OT: ahaha.. natawa naman ako run.. bayaan mo na sir, safe naman post niya kasi may "/" hehe..

bilhin mo nalang in cash. sayang lang yung ibabayad mo sa interest pag nag-loan ka. instead na makamura ka, mapapamahal ka pa tuloy.

IMO credit is a great tool...it just requires planning and staying on track to your plan. Used it several times already be it starting my business or acquiring goods, worked like a charm so far..but of course different strokes for different folks.

[mazzipino]

Just read all 10 pages of this thread. Very informative if you're looking to take out an auto loan.

Like many have said already, Mazinger is a very informative and helpful guy, contact him if you need help (Mazinger, can I make huling tawad for my interest rate? haha)

[tatzkiboy]

I Have my own company..
But the thing is, im registered as its president and all, but (here's the catch) i only collect a Php10k monthly salary (the other income i recieve is from that company's dividends mas mataas kasi cut ko if i only draw a minimum salary)

I Have ITR and whatnot, but will the bank still approve my loan application? i got show money of 200k in my bank accnt naman... kaya ba yun???

PLUS! i want to buy a second hand car direct from the owner. Paano yun? Will the bank just give me the cash and ill give it to the first owner tapos bigay ko sa bank yung OR/CR nung CAr?

HELLLPPP!!!

[eee7]

Help naman.

I applied for a PS Bank Auto Loan via my Car Dealer. Mag-iisang linggo na pero wala pa result. Denied na ba ako pag ganito?

[wifi21]

Help naman.

I applied for a PS Bank Auto Loan via my Car Dealer. Mag-iisang linggo na pero wala pa result. Denied na ba ako pag ganito?

HI Sir,

Kindly PM me. I can help you out with your application.

[mackie0321]

Tanong lang po sa mga expert sa car loans,

Possible kaya na ma-approve ako sa loan. My sister abroad is planning to buy a second hand car worth 300k and we can give 50-60% downpayment. Problem is 1 month pa lang siya doon. So wala talagang malinaw na documents para i-submit. And my plano din siyang bumalik agad dito so hindi rin aabot ng 3 months (sabi 3 mos remittance statements daw).

So ngayon naghahanap ako ng tips/technique para maka-kuha ng loan kasi inuutusan talaga ako ng ate ko abroad to get one.

May nakilala akong SA ng Toyota sa mall and nagtanong din ako sa kanya (option din kasi namin ay brandnew pero pref namin is 2nd hand lang talaga) so I asked him kung possible na makakuha ng loan without any clear documents at all. Ang sabi niya POSSIBLE daw kung 50% ang downpayment namin on the spot. Kasi iisipin daw ng bangko na hindi naman daw siguro ipapahatak yung kotse kasi lugi daw yung bibili kung mahahatak tapos bayad na ang kalahating presyo.

We're planning to down 50-60% on the spot and pay the kalahating presyo within a year or two. So kung mataas rates hindi naman siguro ganoon kasakit (at siyempre pera naman niya yun). Ang problema kung ma-aapprove kaya kami sa banko or loan company?


Sa tingin niyo mga sir/ma'am?

Ideas and advices will be highly apppppreeeciiaaateddd!

Salamat po ng marami.

[tidus1203]

I am not into loans pero yeah a high downpayment is a huge reduction of risk towards the bank...

[wifi21]

Tanong lang po sa mga expert sa car loans,

Possible kaya na ma-approve ako sa loan. My sister abroad is planning to buy a second hand car worth 300k and we can give 50-60% downpayment. Problem is 1 month pa lang siya doon. So wala talagang malinaw na documents para i-submit. And my plano din siyang bumalik agad dito so hindi rin aabot ng 3 months (sabi 3 mos remittance statements daw).

So ngayon naghahanap ako ng tips/technique para maka-kuha ng loan kasi inuutusan talaga ako ng ate ko abroad to get one.

May nakilala akong SA ng Toyota sa mall and nagtanong din ako sa kanya (option din kasi namin ay brandnew pero pref namin is 2nd hand lang talaga) so I asked him kung possible na makakuha ng loan without any clear documents at all. Ang sabi niya POSSIBLE daw kung 50% ang downpayment namin on the spot. Kasi iisipin daw ng bangko na hindi naman daw siguro ipapahatak yung kotse kasi lugi daw yung bibili kung mahahatak tapos bayad na ang kalahating presyo.

We're planning to down 50-60% on the spot and pay the kalahating presyo within a year or two. So kung mataas rates hindi naman siguro ganoon kasakit (at siyempre pera naman niya yun). Ang problema kung ma-aapprove kaya kami sa banko or loan company?


Sa tingin niyo mga sir/ma'am?

Ideas and advices will be highly apppppreeeciiaaateddd!

Salamat po ng marami.

Giving 50-60% dp is already a big help. Why don't you just stand as the principal borrower and your sister as the co-maker para mas madali. PM me so I can tell you more about it. Perhaps we process your application as early as now just to check whether you or your sister will be approved or not. Don't worry, application process doesn't need any documents/requirements pa. It's more on credit investigation lang then after 24 hours, you'll know the results na. It will help you a lot coz if you decide to buy soon, at least alam mong approved ka na. Don't worry, no commitments naman pag approved ka because na sayo parin if you will pursue with the availment or not. Hope I was able to help.

[psycotrompus]

i hope this is the right thread, but anyway, i contacted one SA in Quezon Ave branch, and he said na pag sa bank daw yung financing ko, kailangan daw may 3% dealer's incentive, which is quite high compare to what i read sa other thread na 1-2% lang d.i. nila. please help kung pano ko mapapababa pa yun. tia

[james00112233]

I have a question.
Kapag natapos na yung pagbayad mo sa car loan, ano yung mga procedure para yung name sa OR/CR eh syo na nakapangalan? May additional expense/fee pa bang babayaran para dun?

[ben10city]

Sir may tanong lang ako tungkol sa auto loan kasi I am an OFW presently working in KSA and I have housing loan (15 years Term) in other bank worth 2.5 million pesos, I paid 3 years already but I'm planning to get a car in a different bank my monthly earning is 98,400 pesos. I am paying my monthly ammortization for my house 22,000 pesos, Is it possible I can apply for auto loan even I have an existing housing loan and I will pay 50% down payment with 5 years term actually me and my wife went to the bank and the guy we talk he said 95% were sure of approval but the 5% is only for C.I. I don't what it means CI? and we forgot to tell him that we have existing loan to other bank but even we take for another loan for sure we can pay on time and I am working for almost 8 years in govt. hospital in KSA.

[tidus1203]

CI is credit investigation... Basically to see if you have been paying all your previous obligations...

[leonleon]

I have a question.
Kapag natapos na yung pagbayad mo sa car loan, ano yung mga procedure para yung name sa OR/CR eh syo na nakapangalan? May additional expense/fee pa bang babayaran para dun?

Yes. Kailangan pumunta sa LTO para mapaalis yung tatak na MORTGAGED sa CR. They'll issue you another CR without the MORTGAGED stamp on it. Siyempre, may bayad.

[mark_t]

Sir may tanong lang ako tungkol sa auto loan kasi I am an OFW presently working in KSA and I have housing loan (15 years Term) in other bank worth 2.5 million pesos, I paid 3 years already but I'm planning to get a car in a different bank my monthly earning is 98,400 pesos. I am paying my monthly ammortization for my house 22,000 pesos, Is it possible I can apply for auto loan even I have an existing housing loan and I will pay 50% down payment with 5 years term actually me and my wife went to the bank and the guy we talk he said 95% were sure of approval but the 5% is only for C.I. I don't what it means CI? and we forgot to tell him that we have existing loan to other bank but even we take for another loan for sure we can pay on time and I am working for almost 8 years in govt. hospital in KSA.

What the loan officer needs to know is will your car loan be
no more than 35% of your salary. So you will be approved.

The 22,000pesos house amortization is within the 40% of your
salary which is what they use for housing loans.

[Alchemy]

Information about standard rate for Auto loan BDO and PSbank:

BDO Auto Loans
For Brand NEW Car

BDO Auto Loans
For Brand NEW Cars
Loan Term
OMA
AOR
12
5.44%
6.28%
18
8.29%
9.19%
24
11.45%
12.42%
36
17.96%
19.04%
48
25.28%
26.48%
60
33.47%
34.81%
72
46.26%
47.91%
For USED Cars
Loan Term
OMA
AOR
12
8.04%
9.39%
18
12.77%
14.27%
24
17.12%
18.69%
36
27.82%
29.63%
48
40.31%
42.41%
OMA – One Month Advance
AOR – In Arrears

AUTO LOAN ADD-ON RATES (AOR)

* for loan applications thru any PSBank Branch or PSBank Remote Banking only *

Standard


with One Month Advance


12 Months


6.500%


5.600%


18 Months


9.300%


8.400%


24 Months


13.800%


12.700%


36 Months


20.600%


19.500%


48 Months


27.700%


26.500%


60 Months


36.100%


34.700%

Base on the above rate the interest rate per annum is between 11.5 to 12 %.

When you compute for ammortazation you compute it base on annuity formula not as a compound interest, thats why the above interest looks very low because most of the borrower they assume that the computation is base on compound interest which is not the case for paying a monthly ammortazation.

Note: In- house financing is much higher between 15 to 20 %.

[ben10city]

Thanks for the info mga boss talaga very informative ang tsikot and more power to all the experts and members

[ben10city]

Mga Sir follow up question lang kasi si esmi want to ask if we have existing housing loan with good standing in the bank actually advance pa kami ng 2 months dahil auto debit yung isa bank account namin pero were planning to get auto loan in other bank account or different bank is it possible they can see our housing loan in other bank is there a privacy on that or pag CI nila even they are different bank they will get access on other bank. Actually we dont have bad records in the banks were just afraid that if we get a expensive car (Hyundai Santafe) worth 1.558 million maybe we will have a hard time but I have savings in the bank almost a million pesos that's why we want to pay 50% down payment, my main concern is maybe our housing loan will affect our plan for auto loan but even we have housing loan and auto it's not that hard for me because I am earning almost hundred thousand with one month bonus every year and increase in my salary of 8 thousand pesos a year. Is Housing loan part of Credit Investigation even it's a different bank.

[mark_t]

Initial CI will cover bad debts only.[cmap]
Housing loans are another portfolio and you can even have several
housing loans so long as it does not take more than 40% of your
monthly income.

At 50% down for a car loan approved ka na.

Your problem will be the choice of color for the car.

[ben10city]

Initial CI will cover bad debts only.[cmap]
Housing loans are another portfolio and you can even have several
housing loans so long as it does not take more than 40% of your
monthly income.

At 50% down for a car loan approved ka na.

Your problem will be the choice of color for the car.

Thanks Sir sa reply actually nag pa quote na kami ng car at according to the guy sa bank 95% sure na kami for approval at 5% daw for CI basta ma kompleto daw ang requirement at nagbiro panga nung sabhin namin 50% ang downpayment namin sabi nya " Sir wala kaming kikitain pag 50% down nyo baka pwede 20% sabay tawa sya sagot lang ni misis 5 yrs naman ang term laki na nga kita nyo don, kung bad debts lang pala we have nothing to worry kasi lagi kami good standing sa lahat ng bank account namin I wish color nalang ng car proproblemahin namin