financing amount in excess of carplan company subsidy

**badtoy** · April 10th, 2010 01:39 AM

The company Im working for gave me a car plan benefit or better to term it as car subsidy benefit. The company will buy me a brandnew car however they will only subsidize only up to 500K. If the car I want costs more than 500K then the excess should be shouldered by me. However the car will be registered under the name of the company for 5 years. Only after 5 years that it can be registered under my name

I have already window-shopped for different dealers and looks like were opting for the nissan grand livina which costs 870K. The 500K will be paid by the company i work for and the 370k will be shouldered by me.

My question now is can the 370K be paid through car financing? The car will be under the name of the company but will be encumbered because it is financed. The financing amortization will be paid by me.

**mark_t** · April 10th, 2010 02:03 AM

Originally Posted by badtoy

The company Im working for gave me a car plan benefit or better to term it as car subsidy benefit. The company will buy me a brandnew car however they will only subsidize only up to 500K. If the car I want costs more than 500K then the excess should be shouldered by me. However the car will be registered under the name of the company for 5 years. Only after 5 years that it can be registered under my name

I have already window-shopped for different dealers and looks like were opting for the nissan grand livina which costs 870K. The 500K will be paid by the company i work for and the 370k will be shouldered by me.

My question now is can the 370K be paid through car financing? The car will be under the name of the company but will be encumbered because it is financed. The financing amortization will be paid by me.

Lease then buy it after 5 years. Wag ka maglabas ng pera.

**CVT** · April 12th, 2010 08:57 AM

Originally Posted by badtoy

The company Im working for gave me a car plan benefit or better to term it as car subsidy benefit. The company will buy me a brandnew car however they will only subsidize only up to 500K. If the car I want costs more than 500K then the excess should be shouldered by me. However the car will be registered under the name of the company for 5 years. Only after 5 years that it can be registered under my name

I have already window-shopped for different dealers and looks like were opting for the nissan grand livina which costs 870K. The 500K will be paid by the company i work for and the 370k will be shouldered by me.

My question now is can the 370K be paid through car financing? The car will be under the name of the company but will be encumbered because it is financed. The financing amortization will be paid by me.

Yes, that is how it is.... And the bank will be most happy to accommodate you since you, or the company for that matter, already paid more than half of the car's cost.... (Normally kasi, 20% min lang ang requirement nila....)

9606:hippie: