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  1. Join Date
    Sep 2008
    Posts
    120
    #1
    Folks -- i just want to get your opinin on this matter. We are purchasing a brand new auto mobile as replacement for our sedan. Our SA assisted us in finding a bank where we can take out a loan with the best deal . The best deal we got from our SA came from a savings bank. The catch is that the dealership will need to install a car tracker in the vehicle. The reason we were given was that the bank giving the loan had some recent history of debtors defaulting and not surrendering their units. This will help them track the collateral in case tinakbo ung kotse.

    My concern here is that 1) This is the first time I heard this being done on a car loan. 2) im kind of not comfortable just because I do not know who has access to the tracker 3) this could be double edged because how would I know if my car is safe, knowing other people can easily track the movement and icarnap na lang. Baka may numenok na lang sa mall or sa parking lot namin just because somebody knows the loction. I sound doubtful kasi I wouldnt trust anyone with a PHp 1 M+ automobile kahit personnel sa bangko minsan may kulo.

    TIA for your insight on this.

  2. Join Date
    Feb 2008
    Posts
    325
    #2
    Quote Originally Posted by Indiosbravos200 View Post
    Folks -- i just want to get your opinin on this matter. We are purchasing a brand new auto mobile as replacement for our sedan. Our SA assisted us in finding a bank where we can take out a loan with the best deal . The best deal we got from our SA came from a savings bank. The catch is that the dealership will need to install a car tracker in the vehicle. The reason we were given was that the bank giving the loan had some recent history of debtors defaulting and not surrendering their units. This will help them track the collateral in case tinakbo ung kotse.

    My concern here is that 1) This is the first time I heard this being done on a car loan. 2) im kind of not comfortable just because I do not know who has access to the tracker 3) this could be double edged because how would I know if my car is safe, knowing other people can easily track the movement and icarnap na lang. Baka may numenok na lang sa mall or sa parking lot namin just because somebody knows the loction. I sound doubtful kasi I wouldnt trust anyone with a PHp 1 M+ automobile kahit personnel sa bangko minsan may kulo.

    TIA for your insight on this.
    First time ko lang marining yung ganyang set-up. Wag ka pumayag cause it's clearly a violation of your privacy. Anong bank ba yan? And how good is the deal they're offering. curious lang..

  3. Join Date
    Mar 2012
    Posts
    525
    #3
    Sa US common practice na to, they can even disable your car and won't star if in case you failed to pay your dues to the bank. Meron ngang isang incident sa states na isang na-terminate na employee ng provider ng ganitong system who have access to the system ayon pinagdi-disable yung mga client's car para makaganti sa employer nya.

    Yes privacy and security must be questioned here.

  4. Join Date
    Oct 2002
    Posts
    15,528
    #4
    Quote Originally Posted by Indiosbravos200 View Post
    Folks -- i just want to get your opinin on this matter. We are purchasing a brand new auto mobile as replacement for our sedan. Our SA assisted us in finding a bank where we can take out a loan with the best deal . The best deal we got from our SA came from a savings bank. The catch is that the dealership will need to install a car tracker in the vehicle. The reason we were given was that the bank giving the loan had some recent history of debtors defaulting and not surrendering their units. This will help them track the collateral in case tinakbo ung kotse.

    My concern here is that 1) This is the first time I heard this being done on a car loan. 2) im kind of not comfortable just because I do not know who has access to the tracker 3) this could be double edged because how would I know if my car is safe, knowing other people can easily track the movement and icarnap na lang. Baka may numenok na lang sa mall or sa parking lot namin just because somebody knows the loction. I sound doubtful kasi I wouldnt trust anyone with a PHp 1 M+ automobile kahit personnel sa bangko minsan may kulo.

    TIA for your insight on this.
    there is a gray area on privacy, security and compliance.
    kung ako sa iyo, hindi ako papayag unless they have those policies properly documented.
    madami namang ibang bangko dyan eh.

  5. Join Date
    May 2011
    Posts
    668
    #5
    moving forward, in case no choice/option ka with that bank and got the car:

    find it and disable when you get home.

  6. Join Date
    Jun 2007
    Posts
    1,407
    #6
    ako rin first time to hear about this sa atin

  7. Join Date
    Jan 2009
    Posts
    5,576
    #7
    I wouldn't mind having it. However, as soon as the car is paid off, you're well in your rights to remove it.

  8. Join Date
    Jul 2004
    Posts
    7,715
    #8
    Kung ang tracker ay via cell phone, huwag mong lagyan ng load ang sim card


  9. Join Date
    Oct 2002
    Posts
    29,354
    #9
    If you feel insecure with having a big-brother device in your car because of your car loan, you can always disable it without having to directly tamper with the device. Simply by putting a "faraday cage" around the device and the device's antennas would disable it from sending and receiving any signals.

  10. Join Date
    Nov 2009
    Posts
    1,756
    #10
    Choice mo lang naman, kumuha ng loan sa kanila na may tracker dahil yun ang rules nila, o kumuha ka na lang sa iba na walang taracker na standard naman sa ibang bangko.

    Nakapagtataka lang, gagastos sila ng tracking device pero sila pa rin ang best deal.
    Tingin ko ang the best, ikaw mismo ang makipagdeal at humanap ng bangko. Tiyak bawas pa porsyento ng SA mo.

    - - - Updated - - -
    Last edited by Noel Salisipan; December 13th, 2012 at 09:59 AM.

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Car tracker as Bank loan requirement: Fishy or not.