Car loan (First time car buyer)

**sirkosero** · August 1st, 2019 08:43 PM

Originally Posted by jnsk

Planning to get 2nd hand car, but then, my inlaws told me na much better kung brand new, atleast sure ako sa performance. So eto na nga, nagtry ako magapply online kahapon sa PSBank, and after ilan hrs, nag CI agad sila both company and bahay. Ang nakakatuwa pa dito, nanghingi ng pang meryenda yung nag CI sa bahay.

After that, I received a text from PSBank that my application for auto loan was approved. Then they provide a contact details of an agent from PSBank na maghahandle ng loan ko. My question is, possible ba talaga yung ganito kabilis na proseso even hindi pa ko nagpasa ng requirements? I'm still shocked kasi after ilan try sa BPI na disapproved, sa PSBank, wala pang 1 day approve agad.

I remember sabi ng nagCI samin sa bahay eh siya na daw bahala sa approval ko sa loan. Hahahaha! Ano po ba proseso ng ganito? Thanks!

24 hours lang turn around time nila sa car loan. I suggest ask other banks para may option. East west is also good for car loans.

I still think getting a newer 2nd hand car is most practical. You will not be paying depreciation

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**jnsk** · August 2nd, 2019 02:05 PM

Yan din sana plano ko. Ayaw ng father in law ko dahil di daw ako sure kahit ipacheck sa mechanic. Also, di naman daw magbebenta kung walang problema. Better get a brand new instead. Since naapprove kami sa bank, will proceed nalang with that. Hehe

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**shadow** · August 2nd, 2019 02:44 PM

Originally Posted by jnsk

Yan din sana plano ko. Ayaw ng father in law ko dahil di daw ako sure kahit ipacheck sa mechanic. Also, di naman daw magbebenta kung walang problema. Better get a brand new instead. Since naapprove kami sa bank, will proceed nalang with that. Hehe

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Basta siya magbayad ng amortization sinabi mo sana

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**dr. d** · August 2nd, 2019 02:47 PM

Originally Posted by shadow

Basta siya magbayad ng amortization sinabi mo sana

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"kotse mo... pera mo!
heh heh.

nakikita ko nah...
bumili ka ng kotseng hindi approved niya..
pag na flat tire yan, kasalanan mo!

**Ketib** · August 2nd, 2019 02:50 PM

Originally Posted by dr. d

"nakikita ko nah...
bumili ka ng kotseng hindi approved niya..
pag na flat tire yan, kasalanan mo!

Siguradong magmura![emoji12]

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**ray_noel** · August 2nd, 2019 03:09 PM

Originally Posted by Ketib

Siguradong magmura![emoji12]

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Eh sobrang mura na yun... [emoji1787]

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**jnsk** · August 2nd, 2019 03:10 PM

Hahaha gusto ko nga sabihin, penge po pang down payment! [emoji23] Buti nalang supportive yung mother in law ko. Sya nagprovide ng DP for us. [emoji23][emoji23]

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**chronicle** · August 2nd, 2019 05:12 PM

Originally Posted by jnsk

Also, di naman daw magbebenta kung walang problema.

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Yan ang medyo skewed.
Some of the sellers have a set timeline when they will replace the car regardless of the condition.

And owning a bnew car aint risk free at all. Lemon unit

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**Dr.Kamiya** · August 2nd, 2019 05:35 PM

Originally Posted by sirkosero

I still think getting a newer 2nd hand car is most practical. You will not be paying depreciation

Absolutely agree with this point. One of the wealthiest among my friends says na the two things he hates paying for the most are taxes and depreciation.

**jnsk** · September 12th, 2019 04:12 PM

Saw these people from marketplace posting about PHBWorx and offering 0% interest on car loan. Sobrang tempting kasi base sa quotation nila, wala talagang interest.

Sample:
Car SRP 558,000
Downpayment 30%: 167,400
Less 10% Discount for the remaining balance: 39,060

Balance: 351,540 / 60 months = 5,859 monthly.

Anyone tried this? Parang too good to be true, or may something before mo ma-avail to. [emoji849]

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**ray_noel** · September 12th, 2019 04:31 PM

Originally Posted by jnsk

Saw these people from marketplace posting about PHBWorx and offering 0% interest on car loan. Sobrang tempting kasi base sa quotation nila, wala talagang interest.

Sample:
Car SRP 558,000
Downpayment 30%: 167,400
Less 10% Discount for the remaining balance: 39,060

Balance: 351,540 / 60 months = 5,859 monthly.

Anyone tried this? Parang too good to be true, or may something before mo ma-avail to. [emoji849]

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May catch yan... imposible wala sila kikitain jan.... kaya ingat...

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**Yatta** · September 12th, 2019 04:49 PM

Originally Posted by jnsk

Saw these people from marketplace posting about PHBWorx and offering 0% interest on car loan. Sobrang tempting kasi base sa quotation nila, wala talagang interest.

Sample:
Car SRP 558,000
Downpayment 30%: 167,400
Less 10% Discount for the remaining balance: 39,060

Balance: 351,540 / 60 months = 5,859 monthly.

Anyone tried this? Parang too good to be true, or may something before mo ma-avail to. [emoji849]

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When something is too good to be true... It usually is.

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**chronicle** · September 12th, 2019 06:42 PM

Originally Posted by jnsk

Saw these people from marketplace posting about PHBWorx and offering 0% interest on car loan. Sobrang tempting kasi base sa quotation nila, wala talagang interest.

Sample:
Car SRP 558,000
Downpayment 30%: 167,400
Less 10% Discount for the remaining balance: 39,060

Balance: 351,540 / 60 months = 5,859 monthly.

Anyone tried this? Parang too good to be true, or may something before mo ma-avail to. [emoji849]

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Chineck ko sa fb yang phb.
Parang networking.
Open minded ka ba?

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**jnsk** · September 12th, 2019 06:50 PM

Originally Posted by chronicle

Chineck ko sa fb yang phb.
Parang networking.
Open minded ka ba?

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Networking nga ata, pero not sure how it works. Haha. Nagtry ako maginquire, di pa nagrereply yung ahente. Kung iisipin mo kasi yung quotation nila prang sobrang lugi for them kung totoo nga talaga. Hmm. [emoji849]

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**dr. d** · September 12th, 2019 07:50 PM

Originally Posted by jnsk

Saw these people from marketplace posting about PHBWorx and offering 0% interest on car loan. Sobrang tempting kasi base sa quotation nila, wala talagang interest.

Sample:
Car SRP 558,000
Downpayment 30%: 167,400
Less 10% Discount for the remaining balance: 39,060

Balance: 351,540 / 60 months = 5,859 monthly.

Anyone tried this? Parang too good to be true, or may something before mo ma-avail to. [emoji849]

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for a brand new car... impossible!

but if the car is a used car...

**jnsk** · September 13th, 2019 12:28 PM

Originally Posted by dr. d

for a brand new car... impossible!

but if the car is a used car...

Ayun nga doc, brand new siya! As in! [emoji23]

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**chronicle** · September 13th, 2019 01:45 PM

Originally Posted by jnsk

Ayun nga doc, brand new siya! As in! [emoji23]

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Bnew nga pero tadtad ng sticker nila para maka akit.

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**dr. d** · September 13th, 2019 08:30 PM

Originally Posted by chronicle

Bnew nga pero tadtad ng sticker nila para maka akit.

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"with all your ads sticking to my car, you should be paying me!"

sabi nga ni paQman,
"kung puede lang, long pants ang susuotin ko sa ring, para marami-raming kita sa sticker ads."

teka...
hindi kaya, yan yung mga kotseng nakikita natin ngayon, na nakukublihan ang buong side niya ng ad?

**ice15** · February 26th, 2021 04:44 PM

Sorry for the OT... Medyo may pagtatalo kami ni misis...

Buying a car. Sales person calculates na car loan based on in-house loan and bank loan...

Pero nung old days, naalala ko na we can go to our (bank) branch, they give us a calculation and they can coordinate pick-up of the unit from the closest dealership... Available pa ba itong option na ito?

Nung old days kasi, naaalala ko na mas mababa yung interest if you go to the bank directly.

**17Sphynx17** · February 26th, 2021 07:54 PM

Originally Posted by ice15

Sorry for the OT... Medyo may pagtatalo kami ni misis...

Buying a car. Sales person calculates na car loan based on in-house loan and bank loan...

Pero nung old days, naalala ko na we can go to our (bank) branch, they give us a calculation and they can coordinate pick-up of the unit from the closest dealership... Available pa ba itong option na ito?

Nung old days kasi, naaalala ko na mas mababa yung interest if you go to the bank directly.

you don't go to the dealer. you go to the bank since you are decided on the car model and trim anyway.

They can be the ones to get the quote from the dealer for you and provide their rate.

In house of dealer always higher plus their DI.

When direct to bank no "freebies" or very little in the way of add-on to give you for free. But what you save over the course of the car loan is worth more than any of them combined and much more.

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Car loan (First time car buyer)

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