car loan

[simpleonin]

I would just like to express my deep appreciation and thanks to sir mazingerZ for helping me out with my Genesis Coupe car loan. I highly recommend him, considering that he is based far from manila he still manage to assist me in getting my loan.

Kudos to sir mazingerZ

Also thanks to this thread as I manage to learn a LOT about loans and insurance.

Cheers Tsikoteers

[archangel_17]

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 %.

Mga Sir question lang kasi first time buyer din ako ng car. Ano po iyong Add-On-Rate? and ung one month advance ba na nakalagay dito, for example sa 12 months for brand new car is 5.44%. 5.44% ba ng actual price ng car ang one month advance? and ung AOR is 6.28% ba ng car price? Help po. I am planning to buy a chevrolet cruze price is 908, 000. DP is 50%. thanks mga sir.

[ajOT]

I also do have a carloan presently on an in-house financing, theyre APR is relatively high, as I even dont knbow why I entered to an in-house financing; would Refinancing be a solution?
Where can I do refinancing?
thanks....

[Bangis21]

Happy new year sa inyu

This is my first post here in tsikot. Gusto ko sana ilapit yung dillema ko.

ITR is one of the requirements para ma process yung Car loan sa Metrobank. My parents made me principal barrower becuase the bank manager told my parents na they are not eligible as principal(Senior Citizen).

My parents are will shoulder half of the purchase and half of the monthly ammortization . But I am not confident to show my TRUE ITR because I am not earning that much compare to the car that we want to buy. my earnings is 28k only.

Panu po kaya itu.. is there a chance na ma approve yung car loan ko?

Thanks

[jabroni]

Hi guys,

I hope someone can give a detailed loan quote for a Mazda CX7, price is 1,495,000. I'm shelling out 40% for the DP(598K). How much will be my monthly amort for 3 year and 4 year terms. Painclude n lng din ng details kung magkano and saang payment sasama yung Chattel mortgage, insurance and registration etc.

I tried ksi sa inhouse sobrang taas i-compare ko lng din dun sa quote ng bank sa akin.

Thanks in advance!

[kishAn]

Hi guys,

I hope someone can give a detailed loan quote for a Mazda CX7, price is 1,495,000. I'm shelling out 40% for the DP(598K). How much will be my monthly amort for 3 year and 4 year terms. Painclude n lng din ng details kung magkano and saang payment sasama yung Chattel mortgage, insurance and registration etc.

I tried ksi sa inhouse sobrang taas i-compare ko lng din dun sa quote ng bank sa akin.

Thanks in advance!

for 3 Years

Arrears * 16.90% - P29,128 per month; Chattel - P19,601
One month advance *15.96% - P28,894 per month; Chattel - P19,351

for 4 Years

Arrears *22.96% - P22,979 per month; Chattel - P20,101
One month advance *21.94% - P22,788 per month - Chattel - P21,851

down payment, chattel morgage fee & OMA (if applicable) will be paid to the bank. LTO and Insurance is usually handle by the dealer.

HTH

[speedtrap]

Hi! ask ko din po baka may nakaka-alam kahit estimate lang.

Planning to get a Hyundai Accent 1.4 MT, based sa website ng Hyundai, costs P588k
My plan is, 50% to 60% downpayment, payable in 12, 18, or 24 months (kung alin ang kaya) magkano po kaya babayaran ko monthly? From what I understand, if sa bank, bibilhan ng bank in full cash ang car? may discounts pa po kaya yun and freebies na din since parang cash payment?

Kasama na po ba dun ang LTO registration and insurance?
May other fees pa po kaya?

Saang bank po maganda mag apply? or directly sa dealer? Based on what I read here, mukang ok sa PS Bank, BDO, and Metrobank (though most posts are in year 2007 - 2010 pa)

thanks a lot

[rene_tagle]

Hi! ask ko din po baka may nakaka-alam kahit estimate lang.

Planning to get a Hyundai Accent 1.4 MT, based sa website ng Hyundai, costs P588k
My plan is, 50% to 60% downpayment, payable in 12, 18, or 24 months (kung alin ang kaya) magkano po kaya babayaran ko monthly? From what I understand, if sa bank, bibilhan ng bank in full cash ang car? may discounts pa po kaya yun and freebies na din since parang cash payment?

Kasama na po ba dun ang LTO registration and insurance?
May other fees pa po kaya?

Saang bank po maganda mag apply? or directly sa dealer? Based on what I read here, mukang ok sa PS Bank, BDO, and Metrobank (though most posts are in year 2007 - 2010 pa)

thanks a lot

assuming 50% downpayment= 294,000 , 12 months to pay *5% P.A.: 25,725 m.a., for 24 months * 11% P.A.= 13,597.50 m.a.

60% downpayment= 352,800 , 12 months to pay *5% P.A.= 20,580 m.a., for 24 months * 11% P.A.= 10,878 m.a.

hindi pa kasama yung LTO, chattel mortgage at insurance sa 50% and 60% downpayment.

[zanderpogi]

bakit ganun 2 days ago na nung ma C.I. ako pero until now wla pa din sms or call ang psbank about my loan hindi kaya dahil wala me agent?

[rgutz2]

Thanks WIFI21!!!

[jhaystrat]

hi newbie here mostly info ive read are regarding car loans for brand new. pano kung used car? worth 200 below lang sana... is there a good buy at that price range? may magpapaloan kaya sakin (bank?)?

[n25]

A simple question guys, magkano ba dapat usually sinusweldo kung ang target mong sasakyan is worth P800k assuming yung longest paying terms ang kukunin? I'm asking para at least alam ko kung feasible pang mag-isip man lang bumili ng sasakyan na yun with my income :D

[shadow]

hi newbie here mostly info ive read are regarding car loans for brand new. pano kung used car? worth 200 below lang sana... is there a good buy at that price range? may magpapaloan kaya sakin (bank?)?

meron age ng car lang tinatagap for loan for second hand car, kung ganyan kababa lang, magipon ka na lang, lugi ka diyan pag i loan mo pa yan, generally lugi mag loan ng second hand car.

A simple question guys, magkano ba dapat usually sinusweldo kung ang target mong sasakyan is worth P800k assuming yung longest paying terms ang kukunin? I'm asking para at least alam ko kung feasible pang mag-isip man lang bumili ng sasakyan na yun with my income :D

mahirap mag by the book eh, kasi ikaw nakakaalam ng mga expenses mo..so ikaw na magbilang kung kakayanin mo yun monthly amort. sa natitira sa sweldo mo after lahat ng gastos mo.

[keirsk]

Hi iam a newbie here and this a nice informational thread

[elbert]

Ask ko lang kung no probs ba kung mag-additional carloan uli ako, sa ngayon meron na akong mina-monthly, financially kaya ko pagsabayin 2 carloan, question hindi ba masisilip ng ibang bank sa gagawin ko?

[pierce]

A very informative thread. Mabuhay po kayo!

[pierce]

Makapagtanong na rin po. Paano ba ang magandang proseso o diskarte? Kunwari you are sold to one particular unit, for example Kia Picanto na talaga gusto mo. Since you are opting for the best deal there is, mag iikot ka sa lahat ng dealers na top rate at maganda reviews at offers, then you haggle for discounts and freebies, and proceed to your preferred bank that will cater your car loan, and compare notes?

Or is it the reverse process, go to banks, check their rates and offers, once chosen a bank that suits you, then find a car dealership?

Thank you so very much in advance.

[millsguevarra]

Makapagtanong na rin po. Paano ba ang magandang proseso o diskarte? Kunwari you are sold to one particular unit, for example Kia Picanto na talaga gusto mo. Since you are opting for the best deal there is, mag iikot ka sa lahat ng dealers na top rate at maganda reviews at offers, then you haggle for discounts and freebies, and proceed to your preferred bank that will cater your car loan, and compare notes?

Or is it the reverse process, go to banks, check their rates and offers, once chosen a bank that suits you, then find a car dealership?

Thank you so very much in advance.

Hello Sir!

Medyo newbie rin ako pagdating sa car loans kaya ko binabasa tong thread na to.

From what I've read in the previous pages, when you directly go to a bank for your car loan, they would also be the one to find the "best" dealer for you. In other words, sila ang mag cacanvas for you.

An alternative would be to get quotations from different dealers and get the best deal yourself. Then go to a bank next.

But may nabasa ako sa previous pages na mas ok daw pag sa bank ka dumiretso. Can someone confirm this? Ano ba mas ok dumiretso sa bank or sa dealer muna? Saan mas makakakuha ng mas malaking Discount at freebies? Thanks!

[jul08]

Hi! Wats d best bank to loan?

[eph11]

Hi! Wats d best bank to loan?

try mo sa metrobank, so far sya ang may pinakamababang rate ngayon dahil sa promo nila.