Car loan from bank repossess cars

[SkyFlakes88]

Talagang walang puso mga banks. Mga vultures. konting leeway lang hindi pa maibigay.

[mda]

Talagang walang puso mga banks. Mga vultures. konting leeway lang hindi pa maibigay.

Probably belt tightening since they have long been lending to people who are not deserving of credit.

If I applied for a loan with my minimum starting salary when I first started out, baka ma approve pa ako.

This is the same reason why the credit card loan rate is absurdly high in the Philippines. 36% per annum (3% per month) is one of the highest in the world..

[zombiebride]

Yes po. i just went through an operation kaya nabehind kami sa payments. okay naman na kami ngayon financially.


Also i spoke to the bank kanina and was advised na wala na talaga magagawa but to pay off the loan na lang to redeem the car

[zombiebride]

16 months ko na po hinuhulugan yuN car. east west bank

[zombiebride]

pero ive been paying monthly but not the full balance so yun one month macacarry over ;(

[shadow]

pero ive been paying monthly but not the full balance so yun one month macacarry over ;(

So late ka ng one month every time? And the bank didn't called your attention on this? How do you pay it pala? Auto Debit? Tseke? Pwede ba yun na late ka I sang buwan lagi?

Kung yun na decision ng bank, unless you can pay it off then let it go

[mda]

Yes po. i just went through an operation kaya nabehind kami sa payments. okay naman na kami ngayon financially.


Also i spoke to the bank kanina and was advised na wala na talaga magagawa but to pay off the loan na lang to redeem the car

Sorry to hear about this sir.

Try to get in touch with the higher ups/officers sa bank.

Sila yung may power to get something moving hopefully in your favor.

[shadow]

Sorry to hear about this sir.

Try to get in touch with the higher ups/officers sa bank.

Sila yung may power to get something moving hopefully in your favor.

But will they do it? They don't bother themselves anymore with this kind of problems. They have people under them to handle this kind of issues

[Sebastian Bach]

Yes po. i just went through an operation kaya nabehind kami sa payments. okay naman na kami ngayon financially.


Also i spoke to the bank kanina and was advised na wala na talaga magagawa but to pay off the loan na lang to redeem the car

Seriously, FULL remaining price nung car? crap.. grabe naman yang East West bank. tsk I'll never transact with that kind of bank.

[yebo]

Palagay ko iniipit ka lang ng nasa loans dept kasi meron may kursunada bilihin ang car mo. Go to the head office and talk to the people there and explain your case.

And also napakabilis naman nila humatak. Usually 3 months delinquent bago sila mag innitiate ng repossesion tapos yung sa iyo 1 month lang repo na agad. Something fishy by the bank employees, or could it be you are more than 1 month behind due to penalties?

[willyfernando]

What is the term and DP of the car? With you making partial payments in the past hardly dented your bank loan plus having arrears only worsen it. Worst, paying full term for a car at barely 16 months is crazy. I'd rather get a 2nd hand car I could manage financially than hold on to a troublesome situation. Just my two cents.

[Dende]

I suggest email mo president nila gandahan mo lang reklamo mo. Sumasagot yan sa email ng clients. acmoncupa*eastwestbanker.com

Worst case scenario file ka ng case sa BSP. For sure sasagot sila dun.

[EQAddict]

I suggest email mo president nila gandahan mo lang reklamo mo. Sumasagot yan sa email ng clients. acmoncupa*eastwestbanker.com

Worst case scenario file ka ng case sa BSP. For sure sasagot sila dun.

I agree. This is your best chance.

[zombiebride]

di ko na din po hinabol sobrang stress at hassle lang po on my part.


Although if ever i want to get a car loan in the future mahihirapan kaya ako maapprove? Or east west lang ako most likely madedecline?

[_Cathy_]

Magkano na ba nabayaran mo?

[zombiebride]

Over 200k din

[rsiochi]

My experience with PSBank is ok naman, I got a very good price for my unit, though, sobrang taas as in ridiculously high ng interest rate nila, plus yung mga incidental fees, like compre insurance, cancel/transfer ng mortgage and registration, yung mortgage fee inabot ako ng extra 50K(+/-) para sa mga incidentals, pero, since mura yung acquisition cost ko, pag dating sa dulo, fair deal pa din para sa akin. Dapat lang alam mo lahat ng dapat mong bayaran para di ka mabigla/magulat sa transaction.

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My experience with PSBank is ok naman, I got a very good price for my unit, though, sobrang taas as in ridiculously high ng interest rate nila, plus yung mga incidental fees, like compre insurance, cancel/transfer ng mortgage and registration, yung mortgage fee inabot ako ng extra 50K(+/-) para sa mga incidentals, pero, since mura yung acquisition cost ko, pag dating sa dulo, fair deal pa din para sa akin. Dapat lang alam mo lahat ng dapat mong bayaran para di ka mabigla/magulat sa transaction.

Sir how much are those fees including mortgage fee? Also i'd like to ask what's your interest rate in PS Bank?

[kapitan88]

Sir how much are those fees including mortgage fee? Also i'd like to ask what's your interest rate in PS Bank?

almost 40K-50K additional fees (Kasama na comprehensive insurance at transfer ng papers at mortgage). Their interest is ridiculously high at 40% - 48% for 4yrs (simple interest); if not for a really enticing unit price, i would've not proceeded with the deal. (got a 3yr old dsl innova e a/t with barely 12K Km on its odo for only 612K).

So instead of disposing off my 5yo vios to pay off for this loan, we decided to keep both.

[rsiochi]

almost 40K-50K additional fees (Kasama na comprehensive insurance at transfer ng papers at mortgage). Their interest is ridiculously high at 40% - 48% for 4yrs (simple interest); if not for a really enticing unit price, i would've not proceeded with the deal. (got a 3yr old dsl innova e a/t with barely 12K Km on its odo for only 612K).

So instead of disposing off my 5yo vios to pay off for this loan, we decided to keep both.

Ahh i see, i was thinking na it would cost you around P40-50k just for the cancellation of mortgage. I think the additional fees (with the inclusion of comprehensive ins.) is quite reasonable, its just that their interest rates are ridiculously high. Is the comprehensive insurance compulsory even if you pay in cash? And do they allow buyers to apply for financing from other banks? Thank you sir

[al shaheen]

Its hard to believe that a bank will demand full payment when you're only one month behind. Have you been constantly delinquent?

In my car loan, naitanong ko na yan, if ever ma-delay ako ng one month, full payment na daw ang demand nila sa car loan ko. Kaya priority ko noon na every month may pambayad ako. Naka auto debit sa ATM yung car loan ko.