Car Loan Interest Rates?

[Syuryuken]

10.4%/36 months sa RCBC

[fourtheboys96]

10.4%/36 months sa RCBC

totoo ito? promo or regular loan rate?

nag-apply kami sa BDO. 15%/36 months

[Syuryuken]

totoo ito? promo or regular loan rate?

nag-apply kami sa BDO. 15%/36 months

promo sir.

[lukscudkil]

sobrang mura yan sir

[999]

totoo ito? promo or regular loan rate?

nag-apply kami sa BDO. 15%/36 months

....double check first about the 10.4% for 36 months...bka hindi AOR yun? so far ok na ako with my account officer.....mga friends ko nirefer ko na sa kanya...and they are happy with the results....

[ajkotse]

Hi Tsikoters,

Need your help, advice! nag-apply ako online sa BPI and I was disapproved
planning to buy a 2nd hand car at ipapafinance ko sana sa bank.
Car price = 300k
I'll be covering 140k
Bank will only finance P160k

BTW my salary is 44k nasa 35k take home ko.
2yrs palang ako nagwowork at kakaregular ko lang sa new company ko.

I'm pretty sure kayang kaya ko bayaran yung monthly since wala ako binabayaran na bills at nakatira ako sa parents ko. single din ako.

Hindi ko alam bakit hindi ako na-approved Pano kayo na-approved guys? share nyo naman...

Thanks sa mga magrereply! more power tsikoters!!!

[mitsumirage1979]

hi good pm,

sir meron po ba kayo sample quotation from any banks for Mitsubishi Mirage saan po pinaka lowest tyaka po ung walang OMA rates at kung ano ano pang rates?

plan po is 30-50 % Downpayment and then 3 years to pay tyaka sana po kasama n ung mga chattel fee, insurance LTP at kung ano ano pa pong iba?

thanks

[calix0305]

hi good pm,

sir meron po ba kayo sample quotation from any banks for Mitsubishi Mirage saan po pinaka lowest tyaka po ung walang OMA rates at kung ano ano pang rates?

plan po is 30-50 % Downpayment and then 3 years to pay tyaka sana po kasama n ung mga chattel fee, insurance LTP at kung ano ano pa pong iba?

thanks

Try mo metrobank, go personally in there branch near you and ask for quote, hindi OMA rates nila. HTH

[ajim]

Not sure if this is the right place to ask my question.. tinatry ko po kasi icompute ang interest kung sa in house ako magpapafinance kasi wala pa po ako official quotation.. Tama po ba ung pagkakacompute ko? Let's say for example, the Car A - SRP at 699k, Let's say down is 60k and the monthly is 14300 for 5 years. [DP + (monthly * 60)] - SRP = 219000 which is ung kita nung agent sayo for the 5years time.. Then 219000 / 60months = 3650, 3650 * 12 months = 43800(which is yung yearly kita sau nung agent to get the 219000 for 5 years). Tapos, [(43800 / SRP) * 100] = 6.266%(yearly). 6.266% * 5 years = 31.33%. Based on the computation above, Tama po ba yung try kong pagcompute sa interest ng figuers above? If yes, normal lang po ba ung interest na ranging 26%-31%?

Any help is much appreciated. Thanks!

[Tj_abs]

10.4%/36 months sa RCBC

Sir, is this standard rate or OMA one month advance rate?

[999]

Sir, is this standard rate or OMA one month advance rate?

....double check first with them

[fourtheboys96]

Not sure if this is the right place to ask my question.. tinatry ko po kasi icompute ang interest kung sa in house ako magpapafinance kasi wala pa po ako official quotation.. Tama po ba ung pagkakacompute ko? Let's say for example, the Car A - SRP at 699k, Let's say down is 60k and the monthly is 14300 for 5 years. [DP + (monthly * 60)] - SRP = 219000 which is ung kita nung agent sayo for the 5years time.. Then 219000 / 60months = 3650, 3650 * 12 months = 43800(which is yung yearly kita sau nung agent to get the 219000 for 5 years). Tapos, [(43800 / SRP) * 100] = 6.266%(yearly). 6.266% * 5 years = 31.33%. Based on the computation above, Tama po ba yung try kong pagcompute sa interest ng figuers above? If yes, normal lang po ba ung interest na ranging 26%-31%?

Any help is much appreciated. Thanks!

I didn't really think much about your computation but 26% to 31%for 60 months is the current going rate. The shorter the terms of the loan, the lower the rate. We got 15% rate for 36 months at BDO.

Their computation is quite simple.

SRP - DP= Loan amount.

(Loan amount*rate) / No. of months = Monthly amortization

[ajim]

I didn't really think much about your computation but 26% to 31%for 60 months is the current going rate. The shorter the terms of the loan, the lower the rate. We got 15% rate for 36 months at BDO.

Their computation is quite simple.

SRP - DP= Loan amount.

(Loan amount*rate) / No. of months = Monthly amortization

Thank you sir! hmm.. I tried to compute it based on what you gave and it gave me 3200 as the monthly? parang ang baba po ata? hehe

here's what I did..

SRP - lets assume 700k
DP - all in 60k
rate: 30% for 5years

SRP - DP = loan amount ; 700000 - 60000 = 640000
(Loan amount*rate) / No. of months = Monthly amortization ; (640000*0.3) / 60 months >> 192000 / 60 = 3200..

Ang tinatry ko po kasing icompute is ung overall interest ng 5years with an SRP of 700k, All in DP of 60k, monthly of 14300 for 5 years.. given the figures, I computed for 6.23% per year and total of 31.15% for 5 years.. anyone? hehe :D

salamat sa makikicompute

[rol_z9]

Thank you sir! hmm.. I tried to compute it based on what you gave and it gave me 3200 as the monthly? parang ang baba po ata? hehe

here's what I did..

SRP - lets assume 700k
DP - all in 60k
rate: 30% for 5years

SRP - DP = loan amount ; 700000 - 60000 = 640000
(Loan amount*rate) / No. of months = Monthly amortization ; (640000*0.3) / 60 months >> 192000 / 60 = 3200..

Ang tinatry ko po kasing icompute is ung overall interest ng 5years with an SRP of 700k, All in DP of 60k, monthly of 14300 for 5 years.. given the figures, I computed for 6.23% per year and total of 31.15% for 5 years.. anyone? hehe :D

salamat sa makikicompute

Bro ang na compute mo ay interest lng, di mo sinama ang Loan amount. Devide mo rin ang 640000 ng 60 months (= 10,666.67) tapos add mo sa 3200, ang maging monthly mo ay 13,866.67.

To include the "Loan Amount" the formula should be like this:
(Loan amount*rate) / No. of months = Monthly amortization ; (640000*1.3) / 60 months >> 832000 / 60 = 13,866.67

[ajim]

Bro ang na compute mo ay interest lng, di mo sinama ang Loan amount. Devide mo rin ang 640000 ng 60 months (= 10,666.67) tapos add mo sa 3200, ang maging monthly mo ay 13,866.67.

To include the "Loan Amount" the formula should be like this:
(Loan amount*rate) / No. of months = Monthly amortization ; (640000*1.3) / 60 months >> 832000 / 60 = 13,866.67

yownn! hehe salamat idol.. gets ko na hehe

[rmsoriano]

I think the shortcut for computing the monthly amortization is this:

(Loan Amount) x (1+rate in decimal)
No. of Months

= Monthly Amortization

[tr1ck5h07]

Quick question, to whom should i pay the downpayment if i course my loan through the bank? Dealer or bank? TIA!

[_Qwerty_]

down payment goes to the dealer..

Quick question, to whom should i pay the downpayment if i course my loan through the bank? Dealer or bank? TIA!

[iampatriciawils]

Why not try asking them personally since they are more knowledgeable about those things. Even if you have a poor credit auto loans, you can still avail of this loans.

Michigan Car Finance

[fourtheboys96]

Thank you sir! hmm.. I tried to compute it based on what you gave and it gave me 3200 as the monthly? parang ang baba po ata? hehe

here's what I did..

SRP - lets assume 700k
DP - all in 60k
rate: 30% for 5years

SRP - DP = loan amount ; 700000 - 60000 = 640000
(Loan amount*rate) / No. of months = Monthly amortization ; (640000*0.3) / 60 months >> 192000 / 60 = 3200..

Ang tinatry ko po kasing icompute is ung overall interest ng 5years with an SRP of 700k, All in DP of 60k, monthly of 14300 for 5 years.. given the figures, I computed for 6.23% per year and total of 31.15% for 5 years.. anyone? hehe :D

salamat sa makikicompute

Sorry. Mejo may mali sa math ko. Ganito pala dapat.

(Loan amount*(1+rate) / No. of months = Monthly amortization

So dapat,

640000*1.3/60=13,866.67

- - - Updated - - -

I think the shortcut for computing the monthly amortization is this:

(Loan Amount) x (1+rate in decimal)
No. of Months

= Monthly Amortization

eto pala yung tama.