Reposdessed Car Loan

[jggozum]

Is it possible to loan a car that is repossessed/2nd hand? Anong bank ang maganda? at paano ang computation nila sa DP.. thanks

[1D4LV]

^^ yes. you have two options:

a. get the loan from the bank itself who repossessed the car.
b. get the loan outside of the bank who repossessed the car.

hitch for item a, is that most banks offer short payments for second hand cars. most of them can only offer to at most 3 years to pay at 8% p.a. some banks can only give you at most one year to pay.

In the case of ama bank, they require 40% DP and the remaining balance can be paid in at most 3 years at 8% p.a. other requirements that you have to pay is chattel mortgage and comprehensive insurance.

for second hand cars, i think ama bank offers the best deal.

[1D4LV]

a note: i received a text message from MazingerZ just now. just contact him at +639203264434.

[Langabe]

Sir inquire sa premier bank 16% 3 yrs. sa 6% naman p.a. Sa union bank 19% 3yrs.