Chances of Approval for Auto-Loan

[jdee12]

Good evening mga tsikooters, nag submit na ako ng application for auto-loan sa BPI, usually gaano katagal ito bago ma approved? at ilang percent ng chances na maa-approve ka?
Salamat po.!

[stavros]

Good evening mga tsikooters, nag submit na ako ng application for auto-loan sa BPI, usually gaano katagal ito bago ma approved? at ilang percent ng chances na maa-approve ka?
Salamat po.!

Your question is very subjective since we dont really know your background( financial capabilities, loan history, etc ).

[KERSMcRae]

aside from meeting salary requirements, you must have ..

1. permanent residency status in years (not NPA)
2. w/ good credit standing, like personal loans, if any.
3. not a revolver, if you have own credit card/s.
4. completeness of documents provided
5. they must be able to contact you easily.
6. have a savings account, esp. from the bank where you applied

etc.

[Super Inggo]

Our application with some banks takes less than 3 hours to approved

[renzo_d10]

Depends on your financial capabilities and previous records sa ibang bank. Kailangan maganda record mo, or else... yari.

[Noel Salisipan]

Good evening mga tsikooters, nag submit na ako ng application for auto-loan sa BPI, usually gaano katagal ito bago ma approved? at ilang percent ng chances na maa-approve ka?
Salamat po.!

Pag walang problema sa mga requirements at satisfactory ang financial credibility, 24hrs lang yan pwede ka ng makahingi ng manager's check.

[samira]

No need for requirements, pre approve. Just tell the manager what unit and what dealer. Most of the time we buy cars just because the manager has already reserved one for us. But that's me, so I don't really know what the requirements are. Maybe just submit all the documents and you will get approved.

[michgenn_10]

Ako din nagapply ng auto loan sa BPI thru Online, balak namin kumuha ng Accent 1.4 AT. Yesterday Tumawag ang BPI kay misis, sabi approve ako ng loan amount 700K. Ibigsabihin ba talaga e approve na ako e wala pa naman ako pinapasa n requirements like contact or coe? Ano na next step namin, punta ba ng BPI o punta muna ng Dealer? Nasa barko kasi ako ngayon at buti na lang may internet dito. Si misis lang pwede lumakad at pareho kaming walang alam sa mga ganitong bagay? Need advice sa may mga experience sa bagay na ito. TIA

[yebo]

punta muna sa bank, they will give you/your wife the forms to fill up and requirements to submit. since ofw ka (like me) they will need a copy of the contract that is on record at the POEA, or your contract with the most recent POEA OEC attached (sana hindi mo tinapon nung umalis ka). they will also need bank records for the past 6 months (get from the bank where your salary/remitance goes in). photocopy of your passport, marriage contract (since it will be your wife who will process the loan), and most probably a power of attorney signed by you designating your wife as your attorney-in-fact so as to allow her to sign in your behalf. pag ok na lahat yan meron pa ulit pipirmahan si misis mo, the loan document, daming copies, kakapagod pirmahan. pag approve na yun the bank will then tell you na ok na ang loan pwede ka na pumunta sa dealer.

sa dealer you just need to tell them that you are already pre-approved. malungkot sila at bawas sa kita, wala na sila commission from the bank hehehe! since cash basis na lalabas ang transaction you can then haggle for a discount. babawi naman sila sa iyo kasi mangunguripot sila sa freebies. then pag nakapili ka na ng unit, tawag ka sa bank for issuance of Letter of Credit (LOC), bank will either deliver it to the casa or they will ask you to pick it up. you have a choice of giving the down payment either to the bank or to the casa. pag sa bank then the bank issues an LOC for the total price of the car. pag sa casa then the bank only issues an LOC for the remainder after the downpayment and other charges. after nun pwede mo na iuwi ang car mo.

[BratPAQ]

Having a credit card with good standing at that bank helps. In our case pagka file namin sa internet the next day tumawag then by afternoon approved na, dahil na rin my wife has a credit card on that bank na laging nababayaran.