Car Loan Interest Rates?

[jEnnAholic]

JennAholic,

Mukhang Ok naman binigay sa yo na rate at almost 25% in 5 years. Rustproofing dapat libre na. You can haggle for more freebies like visors, leather seats etc. When talking with dealers dapat lagi ka may point of comparison. HTH.

thanks for the advice emms, it's not 25% ang rate nya 31% for 5 years eh. Ok na siguro kasi that's the lowest interest rate i got na eh. Freebies I got, car cover lang, payong and tint hehehe yun lang po.

[dekzee]

Guys, I thought AMA bank gives the lowest rates for 2nd hand car financing. But behold... I went to an AMA bank this morning and I spoke to the manager who I think doesn't know what he's talking about.:screwloose: He gave me a quote of a whopping 17% per annum interest rate on a 2008 altis model!!! WTF? I even challenged him (politely) regarding their ad on their website: http://www.carloanphils.com/contact.html

and the manager told me that the 7% p.a. interest rate is for brand new cars??? Can someone enlighten me please.... I think I'm going back to my good 'ol BDO who gave me an 8% on 2nd hand financing.

[zook]

Went to a Suzuki dealership and asked for a quotation for the top-of-the-line APV. For 40% D/P and 36 months to pay, amortization is P17,685 per month. I asked which bank and they told me they'd be sending my application to various affilated banks and they're willing to waive the chattel fee.

Went to BDO today and what they quoted me was only P16,071 per month. The difference is more than P1,600 per month!

Moral lesson: shop around for rates first before signing your loan documents. I would think that the top three banks have the best rates in town namely BDO, MetroBank and BPI Family Bank (consumer banking arm of BPI). Economies of scale kasi. They can afford to offer lower interest rates since they have the biggest deposit base.

[dumbdreams]

hi guys,
are interest rates on 2nd hand cars higher than brand new ones?
i was quoted 14.42% * 3 years, 23.26 % * 3 years by a bank.
subject to appraisal pa yung unit, are these rates reasonable?
TIA

[ajOT]

hi guys,
are interest rates on 2nd hand cars higher than brand new ones?
i was quoted 14.42% * 3 years, 23.26 % * 3 years by a bank.
subject to appraisal pa yung unit, are these rates reasonable?
TIA

UP on this question
as am also wondering about this.... is this a fact....
if it is, hindi ba dapat mababa ang APR nang used car; as the word denotes that the vehicle has already been used....

[mazzipino]

Used car interest rates are higher than new car interest rates.

[dumbdreams]

hi guys,
i was quoted 14.42% * 3 years, 23.26 % * 3 years by a bank.

correction:
14.42 % * 2 years, 23.26 * 3years * 30 % downpayment for a car less than a year old pero subject to appraisal.
ang quote sakin 19.something % for a brand new car * 3 years * 30 down.

[Louie_18]

Guys,
Good morning. I'm new here. Just want to asked your opinion about a quotatio given to me by Kia. I'm planning in getting the new Kia Carens EX A/T with an SRP of 1,270,000. My downpayment is 40% which is 508,000 and monthly of 21,664 for 4 years. LTO 3yrs reg, Chattel and Insurance are all free.

Do you think this is a good deal considering the total investment is 1,547,872?

Thanks guys

[james00112233]

Guys,
Good morning. I'm new here. Just want to asked your opinion about a quotatio given to me by Kia. I'm planning in getting the new Kia Carens EX A/T with an SRP of 1,270,000. My downpayment is 40% which is 508,000 and monthly of 21,664 for 4 years. LTO 3yrs reg, Chattel and Insurance are all free.

Do you think this is a good deal considering the total investment is 1,547,872?

Thanks guys

I think that is not a good deal...
pinakagat ka lang nila sa free LTO, Chattel at insurance....

[daimengrui]

Rip-Off yan

[Louie_18]

I think that is not a good deal...
pinakagat ka lang nila sa free LTO, Chattel at insurance....

Sir how bout DP of 406,575 and monthly of 18,956 for 4yrs?
Total investment is 1,316,463...

Thanks sir

[daimengrui]

Mas ok yan deal na yan

[james00112233]

Sir how bout DP of 406,575 and monthly of 18,956 for 4yrs?
Total investment is 1,316,463...

Thanks sir

That is a very good deal.

[Louie_18]

That is a very good deal.

Ok sir James thank you very much

[ajOT]

may I ask the gentleman(s) of tsikot, if you know any financial institution that offers Refinancing of Loan?
co I think I got a bad APR - interest rate on my current loan
would refinancing be of help to me or should I first request for loan re-computation?

does APR-interest rate of new car and used car the same?
if yes, aint that suppose to be, that users cars have lower APR, as the word implies, that the vehicle is used or nagamit/na-drive na kaya dapat mababa ang interest rate nya.... im just wondering though............

tnx

[illuddulli]

mga tol ask ko lang kung ok ba or hindi itong quote na binigay sakin. if not then what should be the good deal? This is in-house financing.

TUCSON GLS A/T 1,158,000.00
DOWNPAYMENT 231,600.00 (20%DP)
INSURANCE FREE
CHATTEL FREE
LTO FREE
24 MONTHS 47,695.00
36 MONTHS 34,216.00
FREE: TINT, FLOORMATS, SEATCOVER, AUTOHUB CARD




Also, which have a better deal bank or in house? Thanks for your help.

[[archie]]

^^ if in house yan, try sa bank, im sure mas ok rates nila than that. yung samin, 2k difference monthly kasi sa bank kami kumuha. kahit hindi free yung shuttle mortgage and LTO, lugi pa rin labas kung in house.

[illuddulli]

^^ if in house yan, try sa bank, im sure mas ok rates nila than that. yung samin, 2k difference monthly kasi sa bank kami kumuha. kahit hindi free yung shuttle mortgage and LTO, lugi pa rin labas kung in house.

Thanks for reply. Btw Do you have any idea if when they will release the 4x2 diesel counterpart of tucson 4x2 CVVT GLS *p1,158,000? and how much would be its cost compared to the GAS variant? Appreciate your reply.

[kishAn]

mga tol ask ko lang kung ok ba or hindi itong quote na binigay sakin. if not then what should be the good deal? This is in-house financing.

TUCSON GLS A/T 1,158,000.00
DOWNPAYMENT 231,600.00 (20%DP)
INSURANCE FREE
CHATTEL FREE
LTO FREE
24 MONTHS 47,695.00
36 MONTHS 34,216.00
FREE: TINT, FLOORMATS, SEATCOVER, AUTOHUB CARD




Also, which have a better deal bank or in house? Thanks for your help.

sir illudduli, advice ko lang na wag ka kukuha ng kotse directly sa delear kung thru financing. super taas ng rates nila almost doble if compare sa bank and everything will be done in black and white, i mean di ka lolokohin. major bank player when in comes to car loan are bpi and psbank at minsan bdo & east west offer the same rates like bpi & psbank, im not sure kung mababa pa din sa metrobank kase last year special rate ng psbank ay normal rate lang ng metrobank.

heres a qoutation from psbank sa pag normal rate (normal rate pa lang-pwede pa ibaba)

price - 1,158,000
D/P - 20% 231,600

24 months
monthly amorts - 43,927
insurance - 35,789
chattel mortgage - 18,601

36 months
monthly amorts - 31,035
insurance - 35,789
chattel mortgage - 19,351

just do the math and you'll see what sir archie123456789 mean na luge ka kahit free chattel, insurance and lto.

[illuddulli]

Thanks for the advise. Do you have an idea when will the gas variant of this car will be released here in the Phils? And how much do you think would it cost? Thanks