Car Loan Interest Rates?

[incisor]

Hi ask ko lang what are the lowest interest rates ngayon? sana yung hindi promo rate kasi nagtanong na ako sa Metrobank and BDO and they gave me 27.06% for Metro and 27.7% for BDO but the problem is promo rate siya and for this month of November lang and promo.

Balak ko sana kumuha by the end of December so palist na lang based from your experience with the banks how much ang standard interest rate nila.

Thanks,
Jason

[biyambu]

Hello,

I'm new to this site. Hehe, may mga questions kasi ako na di ko mahanapan ng sagot kahit nagbasa-basa na ako sa iba't ibang sites. Sana may makapag-provide ng insights nila dito...

Given the below details...

1. Cash on hand: 150,000
2. Monthly Amortization: able to give out 10-15k per month
3. Employed
4. Single
5. Planning to utilize any of our banks' autoloan program

...anong mga brand and unit of car ang possible kong mabili?
...anong bank ang best na i-approach for autoloan?

My first choice is Hyundai Tucson but I think it's too expensive for my case, right? Second choice is Toyota Altis G or Vios 1.5 G. Then Ford Focus.

Di ko kasi sure kung possible ba akong magkaron ng car given yung details ko mentioned above...

Sana may makatulong or makapagprovide ng insights nila... thanks!!!!

[jefskie]

*mazingerZ

nag work po ba kayo sa bank?

Ganito yung deal samin ng SA namin.

Nissan Urvan Estate - 1,370,000

Downpayment 20% - 199,000

Free 3 yrs LTO, Chattel Mortgage, Insurance + AOG, Matting, Rust Proof, Tint

Monthly - 32,370 for 48 months

Mahal po ba yang kuha namin? Kung mahal sa inyo po kami kukuha ng second car namin if ever nag work kayo sa bank thanks.

BUMP ko lang po question ko. thanks

[macho palito]

based dyan sa figures na binigay mo,
around 32% ang interest mo for 4 years. Sa mga major banks ngayon, around 22% ang interest for 4 years. Pero if you also consider na free insurance & chattel mortgage, mas makakamura ka siguro ng around 20-30k pag straight to bank ka. Based on figures mo lang yan. Baka may cash discount casa, dun magkakatalo. hehehe

[incisor]

Sir Macho,

Sang bank yung 22% saka standard rate ba yan?

Thanks

[jefskie]

based dyan sa figures na binigay mo,
around 32% ang interest mo for 4 years. Sa mga major banks ngayon, around 22% ang interest for 4 years. Pero if you also consider na free insurance & chattel mortgage, mas makakamura ka siguro ng around 20-30k pag straight to bank ka. Based on figures mo lang yan. Baka may cash discount casa, dun magkakatalo. hehehe

Thanks sa reply sir. Mejo mahirap po kasi kung direct sa bank kasi kulang kulang kami ng requirments like ITR and etc. Pero nung dinaan namin sa SA sa nissan westagate no problem sila lahat nag ayos.. kaya siguro dun na din kami kumuha kasi mabilis ang proseso..

Sunday nagpunta kami showroom, then thursday bumalik kami to confirm our purchase then saturday nakuha na namin yung unit. Kaya ok narin siguro yung rates na yun. ano sa tingin nyo?

[Gecko Guy]

Thanks sa reply sir. Mejo mahirap po kasi kung direct sa bank kasi kulang kulang kami ng requirments like ITR and etc. Pero nung dinaan namin sa SA sa nissan westagate no problem sila lahat nag ayos.. kaya siguro dun na din kami kumuha kasi mabilis ang proseso..

Sunday nagpunta kami showroom, then thursday bumalik kami to confirm our purchase then saturday nakuha na namin yung unit. Kaya ok narin siguro yung rates na yun. ano sa tingin nyo?

If your satisfied with it then ok na yan...although mataas nga as what was posted earlier. Swerte ng SA mo

[mark_t]

Thanks sa reply sir. Mejo mahirap po kasi kung direct sa bank kasi kulang kulang kami ng requirments like ITR and etc. Pero nung dinaan namin sa SA sa nissan westagate no problem sila lahat nag ayos.. kaya siguro dun na din kami kumuha kasi mabilis ang proseso..

Sunday nagpunta kami showroom, then thursday bumalik kami to confirm our purchase then saturday nakuha na namin yung unit. Kaya ok narin siguro yung rates na yun. ano sa tingin nyo?

Para sa akin ok na iyan. Your next purchase with your bank will enjoy
a lower rate and that is what is important to me.

Yon naman talaga ang role ng SA, mag pa approve ng mabilis.
So bakit mo pa pahirapan sarili mo ng kakahanap ng bank na mag approve
sa car loan ninyo. Para sa akin me approval ka na so tapos na kailangan
mo sa SA. Ihanda mo na ang garahe nyo.

Next step is to shop for cleaning agents, car wax etc.
Saka bagong vacuum cleaner kasi yon sunod na problem nyo
keeping it clean.

[mark_t]

Sir Macho,

Sang bank yung 22% saka standard rate ba yan?

Thanks

Banks posts their interest rates at their websites.

[armscor40]

Thanks sa reply sir. Mejo mahirap po kasi kung direct sa bank kasi kulang kulang kami ng requirments like ITR and etc. Pero nung dinaan namin sa SA sa nissan westagate no problem sila lahat nag ayos.. kaya siguro dun na din kami kumuha kasi mabilis ang proseso..

Sunday nagpunta kami showroom, then thursday bumalik kami to confirm our purchase then saturday nakuha na namin yung unit. Kaya ok narin siguro yung rates na yun. ano sa tingin nyo?

even if you got a high (or let me say reasonably high) interest rate w/ your car loan it doesn't matter anymore as long as the processing from looking for a unit, applying for a (approved) auto loan until the released of the unit which is quite fast i think (imagine 7 days w/ the difficulty of lacking requirements as you mentioned) reference mo na lang siguro ang standard rate na gusto mo makuha, IMO...congrats on your new rig sir

[jefskie]

even if you got a high (or let me say reasonably high) interest rate w/ your car loan it doesn't matter anymore as long as the processing from looking for a unit, applying for a (approved) auto loan until the released of the unit which is quite fast i think (imagine 7 days w/ the difficulty of lacking requirements as you mentioned) reference mo na lang siguro ang standard rate na gusto mo makuha, IMO...congrats on your new rig sir

Oo nga po. Sabi kasi namin wag lalampas ng 10-10-10 ayun nag madali kaya nakuha namin ng 10-09-10 hehehe no regrets naman po

Kung sakaling matapos po namin ito after 4 years, tapos kuha kami genesis coupe uso pa kaya yun? at mababa na kaya interest rate?

[armscor40]

actually from my observation hindi naman ikaw naghahabol ng deadline but your SA, he must act quickly on his transaction w/ you otherwise cya rin mawawalan di ba which is favorable to you even w/ a downside...

nice one bro hindi mo pa nasisimulan payment ng monthly amortization mo and yet your thinking of getting another one, how enthusiastic you are if i may so...

hyundai fanatic here, hindi lang uso but upgraded pa kung sakali maybe newer engine, major modifications and more horsepowers, hehehe

interest rate: well next time you do the transaction directly w/ the bank now that you already have a previous loan approval sama mo na dun chattel mortgage then canvassed first insu. company that give better deals and good payment scheme pero matagal pa yun 4 years is enough for you to set aside sizeable amount of investment in other areas such as real properties.

[miggyp]

don't be fooled by in-house financing. the All-in offers seem to be affordable but if you compute the total amount of the car + interests, you'll be surprised how big the difference is.

I have asked a lot dealers - they gave me good numbers but my bank gave me the best deal. Always transact with your bank.

I was given 29.50% arrears for 60months adnd 28.41% if OMA. BPI.

Don't let the SAs get to you, they will rush you and tell you that "PROMO" will end soon. but luckily for me i was not in a rush. i took my time, ask from dealer to dealer.

my bank gave me good numbers. I let the bank talk to dealers first and when i saw the initial offer, i spoke directly to the dealer and i even got better numbers. it's always better to have a bank backing you up before talking to the dealers..

[ntlogin]

don't be fooled by in-house financing. the All-in offers seem to be affordable but if you compute the total amount of the car + interests, you'll be surprised how big the difference is.

I have asked a lot dealers - they gave me good numbers but my bank gave me the best deal. Always transact with your bank.

I was given 29.50% arrears for 60months adnd 28.41% if OMA. BPI.

Don't let the SAs get to you, they will rush you and tell you that "PROMO" will end soon. but luckily for me i was not in a rush. i took my time, ask from dealer to dealer.

my bank gave me good numbers. I let the bank talk to dealers first and when i saw the initial offer, i spoke directly to the dealer and i even got better numbers. it's always better to have a bank backing you up before talking to the dealers..

Wow. medyo mababa nakuha nyo kaysa doon sa naka post sa site nila

60 months 34.80%

[psycotrompus]

Hi!


Me and my wife have been approved in Metrobank for our car loan. I applied for 20% dp and 60 years of monthly amortization. What they've approved was 30% dp and 36 months. I think this is based on our financial state and I can still save some more for that 30% dp until January 2011, but I have to buy that car so we can enjoy this holiday season and I have someone to fetch from the airport.

Should I haggle the bank or would I rather survery other banks as well?

Thanks for any advice.

[J27R]

Good evening to everyone!

I need some help po..

nag enquire po ako sa chevrolet pampanga for Cruze 1.8 LS m/t with the price of P858,888. the guy gave me the quotation right away by email. kasi tumawag ako from abroad..at eto ang bigay nyang offer sa akin.

Cash out: P 120 000
38 months: 25 233
Freebies:Chattel mortgage, 3 yrs Lto
insurance (P32 000) payable within 90 days.

Is it a good offer or masyadong malaki ang bigay sa akin?
wala na kasi ako time paguwi ko ng pinas para magcanvass sa mga bank..

please po.. i need your advices.. TIA..

[armscor40]

Hi!


Me and my wife have been approved in Metrobank for our car loan. I applied for 20% dp and 60 years of monthly amortization. What they've approved was 30% dp and 36 months. I think this is based on our financial state and I can still save some more for that 30% dp until January 2011, but I have to buy that car so we can enjoy this holiday season and I have someone to fetch from the airport.

Should I haggle the bank or would I rather survery other banks as well?

Thanks for any advice.

sir, 20% is the minimum dp rate in every car loan w/ your preferred choice of monthly installment, baka sir matanda na po kau hindi ba bayad inutang nyo na sasakyan - i cant imagine 60 years of monthly amortization, heheh joke, joke lang po..

if haggling w/ your present approved bank wont work, yah try to look/ask for other banks w/ a much better deals...its still worth waiting if we're talking about here is your financial capability to undertake a short installment payment w/ a low interest rate but w/ a high dp & vice versa...in the end its not the bank that will decide the payment options they offered but you so better think twice before indulging on car purchase...HTH!

[psycotrompus]

*armscor ayaw talaga pumayag yung bank ng 20% dp dahil daw sa tenure ng employment status ko kahit na alam nilang makakabayad ako. anyway, mag-try ako mag-apply ng ibang banks ngayon. I noticed yung sterling bank, sila na susunod na pinakamababang interest rates after metrobank. next target ko yun.

nga pala, medyo disappointed ako dun sa kilalang SA sa cavite. sikat sya dito, pero inoffer ba naman sa kin 33k down, tapos monthly 25k for 60months. eh, 50% na yung interest dun. grabe talaga...

eto lang masasabi ko... a sales agent will always be a sales agent.

[mark_t]

*armscor ayaw talaga pumayag yung bank ng 20% dp dahil daw sa tenure ng employment status ko kahit na alam nilang makakabayad ako. anyway, mag-try ako mag-apply ng ibang banks ngayon. I noticed yung sterling bank, sila na susunod na pinakamababang interest rates after metrobank. next target ko yun.

nga pala, medyo disappointed ako dun sa kilalang SA sa cavite. sikat sya dito, pero inoffer ba naman sa kin 33k down, tapos monthly 25k for 60months. eh, 50% na yung interest dun. grabe talaga...

eto lang masasabi ko... a sales agent will always be a sales agent.

simple lang yan, do your own legwork.
ikot ka lang sa lahat ng banks in 1 day tapos na problem mo.

Kung gusto mo turuan kita, bigyan kita 1 hour.

Saka kung ayaw nila pumayag sa 20% then 30% ang gusto nila,
ganoon ka simple yon.

[psycotrompus]

simple lang yan, do your own legwork.
ikot ka lang sa lahat ng banks in 1 day tapos na problem mo.

Kung gusto mo turuan kita, bigyan kita 1 hour.

Saka kung ayaw nila pumayag sa 20% then 30% ang gusto nila,
ganoon ka simple yon.

gusto ko nga makabili agad next week, kaya 20% dp lang kailangan. nagtatawag na ko ng ibang banks ngayon. sana maganda offer nila.