Bank Loan or Cash Payment???

[gani07]

Magandang Araw...

I am planning to purchase a SUV po. And i need your suggestions which is far better? Purchasing it thru CASH(assuming na may ganun kalaking pera) or BANK LOAN???

And hingi na rin po ako ng tips/guidelines if in case CASH PAYMENT(discounts, freebies etc.). I've heard kasi na agents do not entertain customers if cash payment.

And at the same time kapag LOAN, san una dapat magpunta???DEALER or BANK???(medyo na confuse lang po ako sa other forums about bank loan.)

Thanks in advance.

[dct]

mas maganda syempre ang cash. para walang interest na babayaran. yun ay kung kayang kaya talaga to pay in cash. in dealer's perspective. same lang ang cash and bank loan. kung may difference maliit lang. they really prefer in-house financing. kasi tiba tiba sila dun

kung ang bibilhin mo ay yung maraming stocks like montero, vios, fiesta, etc, maraming freebies ang maibibigay. pag mga high demand low supply naman like trailblazer, ranger, explorer, fortuner, tipid sa freebies yan. hope that helps

may kakilala naman ako na may business, tapos may ilang lupa, ilang sasakyan, gusto nya bank financing kahit kayang kaya cash para daw hindi guluhin ng BIR

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mas maganda syempre ang cash. para walang interest na babayaran. yun ay kung kayang kaya talaga to pay in cash. in dealer's perspective. same lang ang cash and bank loan. kung may difference maliit lang. they really prefer in-house financing. kasi tiba tiba sila dun

kung ang bibilhin mo ay yung maraming stocks like montero, vios, fiesta, etc, maraming freebies ang maibibigay. pag mga high demand low supply naman like trailblazer, ranger, explorer, fortuner, tipid sa freebies yan. hope that helps

may kakilala naman ako na may business, tapos may ilang lupa, ilang sasakyan, gusto nya bank financing kahit kayang kaya cash para daw hindi guluhin ng BIR

[ghosthunter]

Magandang Araw...

I am planning to purchase a SUV po. And i need your suggestions which is far better? Purchasing it thru CASH(assuming na may ganun kalaking pera) or BANK LOAN???

And hingi na rin po ako ng tips/guidelines if in case CASH PAYMENT(discounts, freebies etc.). I've heard kasi na agents do not entertain customers if cash payment.

And at the same time kapag LOAN, san una dapat magpunta???DEALER or BANK???(medyo na confuse lang po ako sa other forums about bank loan.)

Thanks in advance.

Depends on how you look at it.

Paying in cash is good because it would save you money as compared to financing.

Paying via bank loan is good for BIR tax purposes but you will incur some interest charges on the loan.

Generally it depends on your income and lifestyle. Cheaper cars would be better of paid in cash. Expensive luxury cars would be better off paid via bank loan (to show the BIR you don't have that much cash on hand).

[gani07]

Depends on how you look at it.

Paying in cash is good because it would save you money as compared to financing.

Paying via bank loan is good for BIR tax purposes but you will incur some interest charges on the loan.

Generally it depends on your income and lifestyle. Cheaper cars would be better of paid in cash. Expensive luxury cars would be better off paid via bank loan (to show the BIR you don't have that much cash on hand).

thanks po sa advice DCT and Ghosthunter.

actually that's my point din for cash payment, it would save a lot of money. compared to loan na isipin mo pa yung interest.. i dont think din kasi na darating yung point na maquestion ng BIR kasi we just had that savings to purchase a car.

another questions:
1.if i decided to buy it in cash, excluded dun ung mga Free LTO Registration, insurance etc. dipo ba??
so in that case, kami na rin po ang magaasikaso nun???

2.anu po ba yung mga makukuha kong freebies then? or it would depend na rin sa usapan ng car dealer and buyer??

3. Yun idea po ba na they will not normally entertain it if cash payment is a fact???

4. do they give discounts if cash payment?? any idea??

Mr. DCT, any idea about sa marketing ng Hyundai Tucson??

[ghosthunter]

another questions:
1.if i decided to buy it in cash, excluded dun ung mga Free LTO Registration, insurance etc. dipo ba??
so in that case, kami na rin po ang magaasikaso nun???

Depends on the packaged price deal offered to you. Some dealers you can negotiate the LTO as free or inclusive of the selling price but usually this is only true for more expensive car purchases.

2.anu po ba yung mga makukuha kong freebies then? or it would depend na rin sa usapan ng car dealer and buyer??

freebies depend greatly. Usual freebies would be car mats, window tints (ask for 3M original), seat covers.

3. Yun idea po ba na they will not normally entertain it if cash payment is a fact???

Yes, but usually only for certain high priced vehicles with very limited supply and high demand like the Toyota GT86. Such policy is not official if you will manage to speak with their executives but it happens.

4. do they give discounts if cash payment?? any idea??

They do but often it's a fix set amount that has been pre-determined between all dealers of that car brand. You could get a better overall price if you opt for getting the insurance from your own insurance company.

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another questions:
1.if i decided to buy it in cash, excluded dun ung mga Free LTO Registration, insurance etc. dipo ba??
so in that case, kami na rin po ang magaasikaso nun???

Depends on the packaged price deal offered to you. Some dealers you can negotiate the LTO as free or inclusive of the selling price but usually this is only true for more expensive car purchases.

2.anu po ba yung mga makukuha kong freebies then? or it would depend na rin sa usapan ng car dealer and buyer??

freebies depend greatly. Usual freebies would be car mats, window tints (ask for 3M original), seat covers.

3. Yun idea po ba na they will not normally entertain it if cash payment is a fact???

Yes, but usually only for certain high priced vehicles with very limited supply and high demand like the Toyota GT86. Such policy is not official if you will manage to speak with their executives but it happens.

4. do they give discounts if cash payment?? any idea??

They do but often it's a fix set amount that has been pre-determined between all dealers of that car brand. You could get a better overall price if you opt for getting the insurance from your own insurance company.

[dct]

sa lahat ng tanong mo it depends sa car, sa dealer. sa SA. pero as of tucson hindi naman nila dinedeadma ang mga cash and bank PO e. as of now ang mga deadma sa cash and bank PO are trailblazer, ranger, explorer, 86. usual freebies, car mats, seatcover, tint, minsan EWD at may mga dealer na may iba pang binibigay. depende sa usap nyo.

ang gawin mo, pagpumunta ka sa hyundai para makipagnegotiate, sabihin mo galing ka na ng kia, mitsubishi, mazda, ford, honda, nagtest drive ka na. dapat may brochure din. hahaha. at gulong gulo ka pa kung ano ang bibilhin mo. hoping bigyan ka discount, freebies, etc. :D

[trucker111]

suppose you are buying a car via bank financing.

1. can you still get substantial discounts or is it the bank who gets the discount from the dealer?
2. can you source your own insurance and tpl?
3. can you still get freebies from the dealer? from the bank?
4. can the buyer dictate the amount of the DP he wants to put and the no. of months he wishes to pay the balance? (say 50% dp and 18 checks for the balance)
5. suppose you had the car financed for 18 months. suddenly on the 3rd month, you have enough cash to pay off everything. will the bank allow you to settle the loan prematurely? can you get discounts?

[1D4LV]

Magandang Araw...

I am planning to purchase a SUV po. And i need your suggestions which is far better? Purchasing it thru CASH(assuming na may ganun kalaking pera) or BANK LOAN???

And hingi na rin po ako ng tips/guidelines if in case CASH PAYMENT(discounts, freebies etc.). I've heard kasi na agents do not entertain customers if cash payment.

And at the same time kapag LOAN, san una dapat magpunta???DEALER or BANK???(medyo na confuse lang po ako sa other forums about bank loan.)

Thanks in advance.

Cash.
Wala ka ng iniisip every month.
And coupled with depreciation, inflation and interest rates, mas panalo ka.
Plus makakahingi ka pa ng bigger discounts.

[ale828]

suppose you are buying a car via bank financing.

5. suppose you had the car financed for 18 months. suddenly on the 3rd month, you have enough cash to pay off everything. will the bank allow you to settle the loan prematurely? can you get discounts?

I wanna ask the same question.
I applied for an In house car financing and got their maximum 30% Downpayment and 24 months to pay. I tried the 50% DP and 1 year to pay pero wala.
My question is could i pay off the rest of the In house financing after 1 or 2 months? is there a penalty for paying early? or will it depend on the in house financing contract?

[_Cathy_]

Cash. It's good to be debt free!

[CVT]

May nakapagbayad na ba rito ng kotse using your credit card?

18.1K:rant:

[_Cathy_]

Laki ng interes nung 3.5% per month, unless he pays for the full amount pa rin. hehe.

[CVT]

Laki ng interes nung 3.5% per month, unless he pays for the full amount pa rin. hehe.

Yup Sis, full payment is the real intention....

I just heard from the grapevine a couple of years ago that it was done by a person, and that can be arranged.... Just wondering if anyone here has indeed done it and what are its advantages and disadvantages vs. outright cash purchase....Or was he/she able to strike a very good deal?

18.1K:rant:

[rmsoriano]

Magandang Araw...

I am planning to purchase a SUV po. And i need your suggestions which is far better? Purchasing it thru CASH(assuming na may ganun kalaking pera) or BANK LOAN???

And hingi na rin po ako ng tips/guidelines if in case CASH PAYMENT(discounts, freebies etc.). I've heard kasi na agents do not entertain customers if cash payment.

And at the same time kapag LOAN, san una dapat magpunta???DEALER or BANK???(medyo na confuse lang po ako sa other forums about bank loan.)

Thanks in advance.

For me, if you have enough cash from the bank, go for paying your car in cash. what i meant po ng enough cash ay yung kahit binayaran mo na yung car ay meron ka pa ring emergency fund for your family and business. Maliit lang kasi ng interest pa nakatago sa banko ang sobrang pera. but kapag nag-loan ka naman sa bank ay sobra naman ang taas ng interest rate nila....

[rmsoriano]

May nakapagbayad na ba rito ng kotse using your credit card?

18.1K:rant:

I tried once sir, but the car dealer did not accept my card, actually it's just the downpayment, worth 286,000.00 pesos that I was paying. Maybe, nakita rin nila that my intention is just to earn big points from the credit card provider...

[rmsoriano]

May nakapagbayad na ba rito ng kotse using your credit card?

18.1K:rant:

sana pwede rin po paylite, 24 months, parang zero interest..... hehehe

[parenglolx]

Newbie here

mga boss kung nag LOAN ako ng used car.
1.san ba ako lalapit dealer o bank? siguro hanap ko mga 300k worth of car lng naman pang akin lng.
2. kelangan ba may idown na o kahit wala?

thanks po..

[1D4LV]

Newbie here

mga boss kung nag bank financing ako ng used car.
1.san ba ako lalapit dealer o bank? siguro hanap ko mga 300k worth of car lng naman pang akin lng.
2. kelangan ba may idown na o kahit wala?

thanks po..

try ama bank.
may dp pa din, imho.

[parenglolx]

san po ba ama bank? lan po interest rates nila? 3 years ko po balak sana po bayaran,,

[Sindong]

I tried once sir, but the car dealer did not accept my card, actually it's just the downpayment, worth 286,000.00 pesos that I was paying. Maybe, nakita rin nila that my intention is just to earn big points from the credit card provider...

usually yata 3-5% ang cut ng CC companies sa mga retailer kaya siguro decline ka sir na gamitin yung CC mo. paninin nyo sa mga electronics shop plus 5% ang surcharge pag card payment.

BTT ang sarap siguro kung kaya mo bayaran sa CC yung mga entry level na sub compacts like Accent and the likes no . .
meron kaya dealer na papayag
tapos pa balance transfer mo sa ibang CC at .60% int per annum
tipid ka sa chattel mortgage worth 17K siguro tapos laki pa ng points mo.