If you have this company benefit, which way to go? Bank or In-house Financing?

[Lapella]

If your company will shoulder the interest of your auto loan, which way to go?

A. Bank financing - lower rates, less freebies? (chattel, insurance additional expenses)
B. In-house financing - can negotiate for more freebies? (free LTO, chattel and insurance)

Let us know your thoughts on this guys.

[vinj]

Best thing to do is to get computations for both and add it all up to find the best deal. The dealer also tries to give rates that are competitive with the bank AFAIK (unless you're going after a hot-selling unit).

[_Qwerty_]

kung shoulder naman nang company yung interest.. eh di don na sa in-house para madaming freebies.. all-in pa. free lto, chattel, yung iba w/ free insurance na din.. so wala nang cash out..

[Mguy]

Better make sure of your benefits though. Some companies only recognizes the interest schedules from banks as your support paper for re-imbursing interest payments and they do not accredit in-house financing.

If they do both, then choose the one that has more freebies.

[Lapella]

Thank you for the comments/suggestions.

I don't know if what I'm thinking is right. The main reason we go to bank financing is for lower interest rates? But we'll need to pay chattel, insurance etc.

So if we are going to throw the interest out of the equation (benefit), would In-house financing be considered the better deal after all with free insurance, chattel and can negotiate for more freebies?

[loverlionus]

Can the chattel, insurance, etc. be included in the the total loan amount with the bank?

[CVT]

Can the chattel, insurance, etc. be included in the the total loan amount with the bank?

Normally, they're not, and are paid upfront.

Of course, you can arrange to pay the insurance for example in 3 equal payments or so...

15.7K:lalala:

[shadow]

Ikaw ba makipag negotiate? Hinde ba company mo na bahala kung saan sila Mas makakamura?


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[Lapella]

Ikaw ba makipag negotiate? Hinde ba company mo na bahala kung saan sila Mas makakamura?


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Ikaw makikipagnegotiate Sir. Pag may loan ka na, submit mo na lang mga necessary documents like amortization sched for the whole year.

[vefyjeph]

Be sure sir sa benefit ah... Yung company ng wife ko ganyan din. Company ang magbabayad ng interest. Pero they have recommended banks. Specific din sa branch and loan agent. If hindi dun kinuha, papasok sya sa personal loan... Ganun din pag in-house financing sa casa. Personal loan din.

Pero kung sure ka naman na i-cover pa rin ng company kahit via in house financing ng car dealer. Dun ka na, kasi marami ka mahihingi freebies. I guess di talaga freebie kasi ang laki ng interest compared sa bank.

[Lapella]

Update ko lang itong thread. Went with BDO autoloan ginawa nilang ALL-IN so free chattel and insurance. Hindi rin tied up ang insurance sa succeeding years. Madami pa rin akong freebies na nakuha even though bank PO kasi pinagtapat tapat ko lahat ng offers every dealer hanggang makuha ko lahat.

Last year pa fully paid yung sasakyan and ang sarap sa pakiramdam ng wala ka ng loan. 2013 Toyota Fortuner

Sa lahat ng may loan, tiyaga lang matatapos niyo rin yan.

[_Qwerty_]

ilang % sagot nang company?? usually 60-40 pag company benefit / car plan.. and every 5 years.. dapat kuha ka nang bago.. then sell the old one.. so parang nag iipon ka lang and you get your money back after 5 years.. then new car pa..