Car Loan Interest Rates?

[jom's]

*bro weszt & mazzipino my idea ba kayo mga tol kung magkano rates ng bpi automadness is it worth it na dayuhin yung campi motor show for this?

[Louie_18]

33% for 5 years is pretty average/above-average.

I keep seeing in the papers and promo ads that Metrobank do 5 years for around 29%, not sure if OMA or not.

When I was applying for loans I found that the "blue" banks (BDO, Metrobank) offered more competitive rates as opposed to the "red" banks (Chinabank, BPI, PS Bank)

This are the rates of Metrobank. Until Sept. ang promo.

4 years OMA - 20.84%
5 years OMA - 27.06%

[dbhollanda]

This are the rates of Metrobank. Until Sept. ang promo.

4 years OMA - 20.84%
5 years OMA - 27.06%

try to haggle more sa metrobank. i got a more competitive rates sa kanila as compared sa 20.84% sa 4 years oma. the next competitive rate after metrobank is chinabank then psbank.

sa mga readers ng thread na ito sana mag backread muna kasi yung mga tanong nila about the rates e na discuss na sa mga previous pages.

[jom's]

* bro, dbhollanda, imho mostly naman nagtatanong nakapag backread na rin naman like myself, pero it is still best to have the latest details regarding sa current interest rates and thank you for latest information from yourself and bro louie_18 mas maganda na lalo yung idea naming mga naresearch....

[msgt16]

How long does it usually take for an autoloan be approved, specifically Metrobank? Thanks!

[Ginnova]

Bank approval for car loan normally takes 1 day only.

[dbhollanda]

How long does it usually take for an autoloan be approved, specifically Metrobank? Thanks!

i got approval from BDO, chinabank, psbank, metrobank for 1 day only. pero pinili ko metrobank because of the very very low int % they gave me.

again ulitin ko para don sa mga until now e naghahanap ng lowest int rates. list is based on rankings.

3 yrs
1. chinabank - 14.78%
2. metrobank - 15.16%
3. ps bank - 15.96

4 yrs
1. metrobank - 20.84% but you can haggle more coz i got 19.xx % (special rate already)
2. chinabank - 20.86% (special rate already)
3. psbank - 21.94%

5 yrs
1. metrobank - 27.06%
2. chinabank - 27.71%
3. psbank - 28.49%

sa mga readers. ayan na ang figures. i did not include the 4th, 5th... placers na other banks na nasa 32, 33, 35% ...

i called up all of them banks up to 8 banks and compared their rates and yan ang top 3s sa different yrs to pay.

i hope i am clear enough...

[jom's]

*dbhollanda thanks a lot for the comprehensive info, malaking tulong to saming looking for good bank deals/rates...

[weszt]

*bro weszt & mazzipino my idea ba kayo mga tol kung magkano rates ng bpi automadness is it worth it na dayuhin yung campi motor show for this?

oo nga po wala pa din po makasagot kung mgakano ang usual rates ng automadness ng BPI

got my banks approval on BPI they quote me 28.41% 5yrs. on my nissan urvan.

i will try to haggle it down to 27-26%

they say that i can stil negotiate on the rate that they give.


wow thank you sa latest rate n binigay ng MEtrobank malaking tulong. my margin na ako n 27% for 5 yrs.

[ward_23]

Hi guys,

just a question, if i get a three year car loan from the bank and then lets say i got money to pay the rest of the loan on the second year. Will i get some kind of rebates?

Thanks.

[james00112233]

Hi guys,

just a question, if i get a three year car loan from the bank and then lets say i got money to pay the rest of the loan on the second year. Will i get some kind of rebates?

Thanks.

Yes, they will recompute it in such a way you will get discounts for completing the payment in advance.

[wifi21]

If you need car financing, please PM me so I can give you the rates. You can also inquire here if meron kayong questions.

We offer corporate auto loan programs too for employees like you. I just need to talk to your HR to formalize the partnership para you can avail of the corporate rate. Parang partnership lang sya with the bank and your advantage is you will get a special rate just as long as employee kayo ng company na yun.

[macho palito]

I just got my approval from MetroBank.
They gave me 27.06% for 5years. I applied for 20% DP for a 1.5 E City but they gave me the approval with 30% DP condition. Do you guys think this is already ok? Or can I still haggle with them?

[cokyi]

I just got my approval from MetroBank.
They gave me 27.06% for 5years. I applied for 20% DP for a 1.5 E City but they gave me the approval with 30% DP condition. Do you guys think this is already ok? Or can I still haggle with them?

How much is your total cash out for 30% including insurance, chattel and LTO?

[krinkx]

I just got my approval from MetroBank.
They gave me 27.06% for 5years. I applied for 20% DP for a 1.5 E City but they gave me the approval with 30% DP condition. Do you guys think this is already ok? Or can I still haggle with them?

same case for me sa metrobank... i was disappointed since i was led by the manager to believe na 20% ang down... so i went to bdo same day and in one day approved ang loan at 20% down and 28.5% interest rate... close enough... a difference of about 15k for 5 years... di na gaanong significant... and the chattel/insurance is lower... bawi na rin...

as to haggling with them, i tried but even the same manager was hesitant... sa inis ko, napaBDO tuloy ako... bilis pa ng approval...

tapos naiuwi ko na yung strada the following day...

[macho palito]

How much is your total cash out for 30% including insurance, chattel and LTO?

around 300k total cashout

[psycotrompus]

hi po!

i've been montoring this forum and i've learned a lot. i've learned that i should haggle SA's and Banks to give the best discounts and freebies, and so on.

i'm eyeing on the the all new 2010 Hyundai Tucson GL 2WD MT for quite some time now, and has planned to buy this car before the end of this year.

can anyone give me the best quotation they can offer me? i propose 20% dp and up to 5 years of financing, since this is quick buy for me (i can still increase my savings 'til April 2011, i was just planning a lot).

thanks in advance!

[Srtat5bot]

Hi. balak namin kumuha ng kotse. and Loan po ito. Hyundai Getz. binigyan na kami ng Quotation na 28K DP All in na (3 years LTO, Insurance, Mortgage) freebies like LCD etc
5 years to pay siya * 12,000 per Month.

e-papasa palang namin yung Credit Application form. hindi ko alam kung mas maganda na derekta sa banko or hindi.

another problem kasi namin is
1. New Business palang kami. Started March 2010. so wala pang way para makakuha kami ng ITR or kung ano man.
2. sa bank naman we do put some money in their pero most of the time nasa bahay lang ito (lahat ng kinita ng business namin. kasi 24/7 hours ito and daytime kami nagbabantay ng shop so no time to go bank talaga.

[tidus1203]

Deretso sa bangko, definitely mas maganda! Pero I am not sure if the banks will allow you to make a small DP like P28,000... Pero you can be assured banks will have lower interest rates than in house dealers...

[mark_t]

Deretso sa bangko, definitely mas maganda! Pero I am not sure if the banks will allow you to make a small DP like P28,000... Pero you can be assured banks will have lower interest rates than in house dealers...

Pareho lang ang rates ng thru real loan agent and direct sa branch manager. Meron din CODED agents ang Banks.

As for 'in house' uli, good luck on the rates.