Car Loan Interest Rates?

[dhing24]

how do you compute yung buong interest rates? ganito ba yun:

example:

590,000 - Total Price
118,000-DP
472,000 - Loanable amount
x 34% (for 4 years)
160,480 - interest

13,176.66 - monthly amort for 48 mos.

Ganyan po ba mga mag compute ng interest rates mga bossing?

Thanks

[tiquico]

^yup. you're correct. the 34% is the add-on rate. add that interest to your loanable amount then divide it by 48 months (if four years), you will get your monthly amortization.

[bentotz]

Hi, pano nacocompute ang chattel mortgage? ano bsehan nila dun? magkaiba ba pag SUV or kotse ang kukunin??

[mazingerZ]

Hi, pano nacocompute ang chattel mortgage? ano bsehan nila dun? magkaiba ba pag SUV or kotse ang kukunin??

Mga ppl,

im back, albeit saglit lang, using my own personal laptop. Pm me kung may problems or assistance kayong kailangan. I'll try to help as soon as I can.

God Bless mga peeps.

[redshift]

Got an interesting table of rates from LBC Bank here...

[fish_out_of_h20]

I just called metrobank, they have a promo until sept. For my 50%dp they quoted 28.4% for 60 months, 22% i think for 48months.

[bentotz]

Hi, do you know how to compute for the chattel mortgage??

[bentotz]

I just called metrobank, they have a promo until sept. For my 50%dp they quoted 28.4% for 60 months, 22% i think for 48months.

Same here, i got a 28.48% for 60 months sa metrobank..

[innoBOB[09JmtG]]

I just called metrobank, they have a promo until sept. For my 50%dp they quoted 28.4% for 60 months, 22% i think for 48months.

naku ambaba naman ng 22% for 48

ako kasi 24% sa 48

pwede kaya i pa modify rate ko kahit ongoing na bayaran?

hehe

[toast]

ako nag sisi talaga, sana humanap pa ako ng ibang banks.. BDO 37.80% for 48 months 30% DP. lesson learned

[mazzipino]

ako nag sisi talaga, sana humanap pa ako ng ibang banks.. BDO 37.80% for 48 months 30% DP. lesson learned

are you able to re-finance?

[toast]

pwede paba ba pa re-finance kahit 6 months na kami nag babayad? TIA.. sorry medyo newbie kasi

[mazzipino]

pwede paba ba pa re-finance kahit 6 months na kami nag babayad? TIA.. sorry medyo newbie kasi

Just wait for one of the experts to reply.......

[[ICEMAN]]

BDO offered me this for a 2009 vios -e. I am not sure what the rate for this is but I think this is too much.

Selling Price: P 664,000.00

20% DP = 132800
Insurance = 15000
Free Chattel
Free Lto
Discount = 20,000
---------------------
Inital Cash out = 127,800

Amount Finance = 531200
Monthly Ammortization = 13,030 for 60 months


Would BDO be able to lower the rate from your experience?

[-=tricia=-]

BDO offered me this for a 2009 vios -e. I am not sure what the rate for this is but I think this is too much.

Selling Price: P 664,000.00

20% DP = 132800
Insurance = 15000
Free Chattel
Free Lto
Discount = 20,000
---------------------
Inital Cash out = 127,800

Amount Finance = 531200
Monthly Ammortization = 13,030 for 60 months


Would BDO be able to lower the rate from your experience?

too high. try in metrobank, they have promo right now for 4yrs, 20.28% interest compared to bdo which is about 47% interest for 5years (based on the values shown above). and ang maganda, part owner ng toyota ang metrobank and for sure you will get a lot of freebies from metrobank.

[[ICEMAN]]

Thanks! I'll try to do that.

OT: I just have to say it. You are very beautiful. Have a good day!

[josep]

pwede paba ba pa re-finance kahit 6 months na kami nag babayad? TIA.. sorry medyo newbie kasi

Try ask your bank account officer about car loan restructuring. As far as i know car loans are not subject to loan restructuring.. interest rate applies all throughout till you consume your term. But if you have enough money and cash out the entire principal loan in advance, you are entitled to a pre-computed discount somehow.

hope this helps. cheers!

[[ICEMAN]]

Toyota Financing was able to give me a rate of 32% for 5 years for my vios. Do you think its a good rate already considering its inhouse?

[jabbronx]

Nice thread! Good infos for us who have no expe in car financing. ^^

Just a quick question, let's say u got a good deal from your bank. What happen to:

Insurance
Free Chattel
Free Lto
Free tint, undercoat, accessories, etc

Are they still free? Or depende sa bank kung may tie up sila sa dealer? what if kung wala?

[bentotz]

Usually pag thru bank ung kinuha mo, hindi na free ang insurance at chattel..

Ung sa freebies, pag my kausap kang dealer, sabihin mo na thru bank PO ka kukuha ng unit.. my makukuha k pa namang freebies..

kapag nag in-house ka sa kanila, kadalasan all-in yan.. free chattel, insurance at lto.. pero kung icocompute mo ng mabuti sinama nila ung cost ng chattel, insurance at lto sa monthly amortization mo.. mas makakatipid ka parin sa bank, yun nga lang, malaki cash out dahil sa insurance at chattel n babayaran mo.. pero in d long run, mas malaki matitipid mo pag sa bank..