Change unit in the middle of in-house financing

[khenma0928]

Hello... Anyone tried here to change their loaned unit in the middle of in-house financing?

Let's say i loan the honda city for 5 years. Then after 2 years, i decided to change into civic?

How about change the loan into another car brand? Honda into Mazda?

Thanks.. 😀

[dishcom]

Not posible yan sir. Kaya pag isipan mabuti kung anong model ang gusto mo.

[EQAddict]

Its not possible . You will have to pay off the loan in full before you can get another car. Sarap ng buhay kaya kung puede iyan gawin.

[glenn manikis]

Pwede naman.. Pero malaki masyado monthly mo and malaki din depreciation ng city mo... Better pa kung bentA mo nalang city mo.. Then get a civic

[yebo]

benta mo na "assume balance" then use the sale proceeds for d/p on the civic.
kaso madalang pumapatol sa "assume balance" na sale. kahit 2nd hand dealers hindi bumibili ng assume balance.

[shadow]

Hinde pwede yan. You have to finish your loan.


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[EQAddict]

Even if you sell the car under assume balance I doubt the bank will give you another loan. Unless you go to a different bank. But then technically you have two loans under your name. If your buyer defaults then the original bank will go after you. Don't ruin your credit score.

[khenma0928]

Pero pede ba ung maghulog ako ng 200k in the middle then iaadjust nila monthly? Or interest

[EQAddict]

Pero pede ba ung maghulog ako ng 200k in the middle then iaadjust nila monthly? Or interest

Depends on the kind of loan you got and the terms and conditions. Try to ask your account officer to assist you on this.

[Lew_Alcindor]

Pay your existing loan in full now then get another loan.

[khenma0928]

Pay your existing loan in full now then get another loan.

When paying in full,they include the interest? Lets say i got the city in house financing

[Syuryuken]

Hello... Anyone tried here to change their loaned unit in the middle of in-house financing?

Let's say i loan the honda city for 5 years. Then after 2 years, i decided to change into civic?

How about change the loan into another car brand? Honda into Mazda?

Thanks.. 😀

kung brandnew hindi pwede sir pero pwedeng swap sa repo ng bank yung unit mo sinubukan ko nun sa RCBC pero di ko na tinuloy laki ng lugi ko pag swap halos walang value yung sasakyan ko laki pa ng interest dahil secondhand na. Di ko lang alam kung pwede sa ibang bank.

[dr. d]

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pay in full and pre-terminate the loan. you will just have to ask the loaner about the fees involved. brace your knees for the amount involved. (bear in mind.. when you and the bank first entered into partnership, the bank already had a profit amount in its receiveables...)
once paid in full, transfer ownership to you and sell the car.
then you can get your next car.

comment: this must be a really good car that you are eyeing! considering the hell of a mess you are willing to swim thru..

good luck, sir.

"assume balance..?" unless you are almost giving it away... why would anyone buy a used car at brand new price?

[khenma0928]

kung brandnew hindi pwede sir pero pwedeng swap sa repo ng bank yung unit mo sinubukan ko nun sa RCBC pero di ko na tinuloy laki ng lugi ko pag swap halos walang value yung sasakyan ko laki pa ng interest dahil secondhand na. Di ko lang alam kung pwede sa ibang bank.

Ah... Eh kung ipapahatak nlng then saka ako magpalit ng unit... Masira nmn credit score noh?

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pay in full and pre-terminate the loan. you will just have to ask the loaner about the fees involved. brace your knees for the amount involved. (bear in mind.. when you and the bank first entered into partnership, the bank already had a profit amount in its receiveables...)
once paid in full, transfer ownership to you and sell the car.
then you can get your next car.

comment: this must be a really good car that you are eyeing! considering the hell of a mess you are willing to swim thru..

good luck, sir.

"assume balance..?" unless you are almost giving it away... why would anyone buy a used car at brand new price?

Full including the interest. Right? Say 3 years remaining... I pay the whole 36 months...