Car loan (First time car buyer)

[ericb]

Hi everyone, I'm planning on getting a car loan to buy my first car (bnew). The bank has offered me free chattel mortgage and insurance for the first year, provided I renew my insurance with them for the 2nd and 3rd year, the bank quoted me 25k and 22k (2nd and 3rd year) and participation fees for the 1st to 3rd year are as estimated to be 5k, 4.2k+, 3.8k+. My question is, is this the usual insurance and participation fee for brand new cars? I'm planning on getting the Altis 1.6V btw.

Any reviews with Charter Ping An?

Thank you.

[papi smith]

Seems good enough to me, more so if it comes with AON, I assume the car is worth 1M. Participation seems to fit the 1/2 of 1% of insured amount standard.

[ericb]

Seems good enough to me, more so if it comes with AON, I assume the car is worth 1M. Participation seems to fit the 1/2 of 1% of insured amount standard.

Yes Sir, they gave me a sample form (though the car is different, the price is the one closest to my car of choice) with the computation of participation fees and insurance and it says there that insurance for 2nd and 3rd year comes with AON (will need to make sure with the bank though). Thank you for the response.

[kai s.]

Hi everyone, I'm planning on getting a car loan to buy my first car (bnew). The bank has offered me free chattel mortgage and insurance for the first year, provided I renew my insurance with them for the 2nd and 3rd year, the bank quoted me 25k and 22k (2nd and 3rd year) and participation fees for the 1st to 3rd year are as estimated to be 5k, 4.2k+, 3.8k+. My question is, is this the usual insurance and participation fee for brand new cars? I'm planning on getting the Altis 1.6V btw.

Any reviews with Charter Ping An?

Thank you.

The amounts sound about right. From experience, okay naman Charter Ping An. I answered this same question in another thread about insurance yesterday

If this is Metrobank, I highly recommend their Shaw branch, the one in S&R. Gave me a good deal (matched the lowest interest rate I found, adjusted my loan amount etc etc) and they were very accommodating, especially the branch manager.

[ericb]

The amounts sound about right. From experience, okay naman Charter Ping An. I answered this same question in another thread about insurance yesterday

If this is Metrobank, I highly recommend their Shaw branch, the one in S&R. Gave me a good deal (matched the lowest interest rate I found, adjusted my loan amount etc etc) and they were very accommodating, especially the branch manager.

Yes Sir Metrobank (Emerald Ave.) sya, unfortunately sya yung pinaka mababang rate na napagtanungan ko so di ako sure kung makakahingi pa ba ako ng adjustment :P May promo sila ngayon, pag promo ba pwede pa humingi ng adjustment? Ano ano pa pwede i-negotiate pag bank-financing na may promo?

[ohwtfitzsean]

anyone here recently applied for a BPI car loan? Hindi ba talaga nila fnfree ang chattel mortgage? TIA

[champlm]

Hi everyone, I'm planning on getting a car loan to buy my first car (bnew). The bank has offered me free chattel mortgage and insurance for the first year, provided I renew my insurance with them for the 2nd and 3rd year, the bank quoted me 25k and 22k (2nd and 3rd year) and participation fees for the 1st to 3rd year are as estimated to be 5k, 4.2k+, 3.8k+. My question is, is this the usual insurance and participation fee for brand new cars? I'm planning on getting the Altis 1.6V btw.

Any reviews with Charter Ping An?

Thank you.

the participation fee kung ok ba o hindi depends on the type of car na bibilhin mo. For a sedan, parang mahal yan.

Nabili mo na ba yung unit?

[ericb]

the participation fee kung ok ba o hindi depends on the type of car na bibilhin mo. For a sedan, parang mahal yan.

Nabili mo na ba yung unit?

Hindi pa Chief, pero karamihan naman sa napagtanungan ko (forums and personal friends) eh sabi nila mukhang reasonable naman for a bnew sedan.



Sir ohwtfitzsean, try to inquire sa metrobank sir, may free chattel/insurance (di kasama LTO, pero pwede makuha ng free sa dealer) sila hanggang July 9. Dun po kasi ako nag inquire e. Sayang yung promo ng security bank natapos na few months ago. Sana makatulong kahit paano

[jut703]

the participation fee kung ok ba o hindi depends on the type of car na bibilhin mo. For a sedan, parang mahal yan.

Nabili mo na ba yung unit?

Participation is usually 0.5% of insured amount. So 4-5k is normal for a 1M car.

Some insurance companies offer 0.25% participation but that's the exception and not the norm.


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[Mel Vin]

The amounts sound about right. From experience, okay naman Charter Ping An. I answered this same question in another thread about insurance yesterday

If this is Metrobank, I highly recommend their Shaw branch, the one in S&R. Gave me a good deal (matched the lowest interest rate I found, adjusted my loan amount etc etc) and they were very accommodating, especially the branch manager.

Sir gud day po. Ask po anong unit ng sasakyan or saan dealer nyo na may maganda deal?

[kai s.]

Sir gud day po. Ask po anong unit ng sasakyan or saan dealer nyo na may maganda deal?

Tingin ka dito sa model/brand specific threads kung saang dealer may magandang deal Ako kasi di na ko nagcompare ng iba-ibang casa at offer, basta kumuha lang ako sa malapit samin haha. Pero very good experience with Metrobank Shaw pagdating sa mismong autoloan.

[Mel Vin]

Tingin ka dito sa model/brand specific threads kung saang dealer may magandang deal Ako kasi di na ko nagcompare ng iba-ibang casa at offer, basta kumuha lang ako sa malapit samin haha. Pero very good experience with Metrobank Shaw pagdating sa mismong autoloan.

Thank you sir

[Mel Vin]

anyone here recently applied for a BPI car loan? Hindi ba talaga nila fnfree ang chattel mortgage? TIA

Hello sir nag inquire ako sa BPI last monday di po kasama and chattel mortgage.
Mas mababa pa rin rate ng MBTC

[OscarCharlie12]

Try PS bank sir, extended ata promo nila free chattel and insurance din.

[CloudTempest]

Try PS bank sir, extended ata promo nila free chattel and insurance din.

Dyan din kami kumuha ng wife ko para sa 1st auto namin. Upon submission ng requirements kinabukasan may nareceive kmi txt galing PS Bank na approved na ung car loan namin. Then tsaka kami naghanap ng dealership until nag-settle kami sa toyota marikina. 2016 toyota vios 1.3e

[aweng]

Dyan din kami kumuha ng wife ko para sa 1st auto namin. Upon submission ng requirements kinabukasan may nareceive kmi txt galing PS Bank na approved na ung car loan namin. Then tsaka kami naghanap ng dealership until nag-settle kami sa toyota marikina. 2016 toyota vios 1.3e

ilang % po ang interest sa PS bank?

TIA

[Levksky]

ilang % po ang interest sa PS bank?

TIA

Hi Guys, 1st Car loan ko din eto yung binigay sa akin ni PSbank

Term Loan Type AOR
12 Regular 5.29%
18 Regular 7.73%
24 Regular 10.46%
36 Regular 15.21%
48 Regular 20.65%
60 Regular 27.28%

[stephaniedoce]

Hi Guys, 1st Car loan ko din eto yung binigay sa akin ni PSbank

Term Loan Type AOR
12 Regular 5.29%
18 Regular 7.73%
24 Regular 10.46%
36 Regular 15.21%
48 Regular 20.65%
60 Regular 27.28%

Hello! I'm from Security Bank. Check out our rates, you might be interested. 😁
12 - 4.63%
18 - 6.99%
24 - 10.19%
36 - 15.21%
48 - 20.65%
60 - 27.28%

For more inquiries you can text/call me at 09294822355. You can also visit our branch at Medical Plaza Makati or those nearest you. 😊

[Allan023]

Try to get an approval from another bank doing promo on auto loan, then show the approved rate to your bank.

[raptrovic]

Hi,

Sorry di ako makapag post ng new question kaya makikipost na lang ako dito.

Noob question lang po.

First time car buyer po. I just received a text message from BPI na approved na daw po yung loan application ko. The question is, ano na po ang next step?