Financing a car purchase? Never thought it would be this easy!

[BigMac]

I consider myself a discerning buyer- I do a very thorough due diligence on my purchases and for my suv acquisition, I would like to share what I consider the third most important detail (after determining if you can afford the purchase then followed by what kind of vehicle to purchase)

After almost 2 months of painstaking research where I compared 5 industry leading banks (BDO, Metrobank, BPI, UnionBank and RCBC) and overall, nothing, nothing beats the ease, quick approval, convenience, market rates and satisfaction with Banco de Oro

Rate: 4.17% for 12 months, 9.84% for 24 months ,16% for 36 months, 22.94% for 48 months. They go as high as 60 months.

Approval: 12 hours! (BDO manager called me at 9PM, natulog ako, then sent me an email 9AM the following day telling me my loan was approved.

The other banks were more thorough sent credit checks to my house and office but BDO absolutely nothing of that sort, 20 min chat on the phone!)

Manager calls me up at 10am telling me of the approval and that he would make my purchase as easy as possible. He looked for 4 dealers, compared their offers apples to apples and managed to get me about P100k worth of free items including an audio-video system. ito clincher, after giving me the choices, and after I approved, he called up the sales agent in Manila to have me fetched at his branch so that I don’t have to drive all the way on a rainy Friday to the casa!

In appreciation, I opened a checking account and a savings account in his branch (although absolutely unnecessary). Oh I did not have to leave the managers office, all processing for the loan application as well as opening the new accounts were delivered to me, typed, sign here and here and here....


I do not know the branch manager from adam, nor I keep any Banco de Oro account but boy I am so happy with them that I want to recommend them to all of you who are in the market for a new vehicle. You may use this post as reference.


Hans Bryant T. Ong
Branch Head
BDO Greenhills-Wilson Branch
Tel. 7273764, 7274068, Fax. 7245856
Cel. 0922-8112934
bh.greenhills-wilson*bdo.com.ph


Happy hunting!

P.S. About the only inconvenience I experienced was looking for parking space (avoid wilson during lunch hour).

[uls]

banks have to make loans eh

dun sila kumikita

matindi ang competition

so they have to make extra effort to convince the borrower to choose them

[tidus1203]

Good for you BigMac, however with so much pressure on the banks to make money normally their service improves. Try getting good service on a booming economy

[Galactus]

Hmmm...parang "praise" release cum advertisement for BDO yung lumabas, hehehe

Subtle, very subtle.

[H1Tman]

Hmmm...parang "praise" release cum advertisement for BDO yung lumabas, hehehe

Subtle, very subtle.

+1 on this observation.

[actor21]

exactly the same happened to me on BPI, i only give them my ID (photocopy) and i haven't even give them post dated checks, halos wala ako ibinigay..12hours approved agad

[uls]

baka kaya lenient sila kasi sinesecuritize nila ang mga car loans tapos binebenta nila sa investors

hehehe

[tidus1203]

baka kaya lenient sila kasi sinesecuritize nila ang mga car loans tapos binebenta nila sa investors

hehehe

Shivers on the thought... But I think di pa naman ganun ka sophisticated financial system natin. I mean sino naman bibili ng mga securitized auto loans of a 3rd world country? Yun pala Citihroup in the US owns some Philippine auto loans kaya nayayari sila JOKE!

[Galactus]

exactly the same happened to me on BPI, i only give them my ID (photocopy) and i haven't even give them post dated checks, halos wala ako ibinigay..12hours approved agad

Wala kayo sa lolo ko. Hindi pa nagsasabi sa branch manager na gusto niyang mag-car loan, approved na agad!

[uls]

haha

wala yan sa lolo ko

pag gising nya kanina umaga, may brand new car nakapark sa garahe

ang susi nasa ignition

may OR/CR sa loob naka pangalan na sa kanya

nung tanghali, ung representative ng bangko nagdala ng papales para papirma sa lolo ko

hehehe

[tidus1203]

Wala kayo sa lolo ko. Hindi pa nagsasabi sa branch manager na gusto niyang mag-car loan, approved na agad!

Oh wala kayo lahat sa Lolo ko, sya naman binigyan ng BDO ng letter na pre-approved na car loan/housing loan for P5M. Just visit your nearest branch... Ano ba yan parang mga bata, nagpapatasahan ng ihi or nagpapalayuan ng dura...

[Gen. Miting]

<doubel post>

[aNthraxx]

exactly the same happened to me on BPI, i only give them my ID (photocopy) and i haven't even give them post dated checks, halos wala ako ibinigay..12hours approved agad

same here, it was hitch free, it was pre approved though becuase i was doing business with BPI for at least 2 years already so the manager knows me and my wife. It took us 2 months after the approval to finally buy a car.

Just like most of us here although i got a pre approved car plan with BPi i still decided to scout the other banks just to be sure. Aftre a series of computation (sorry i forgot already) the one with the lowest interest was BPI, followed by BDO and last PS/MetroBank.

[alwayz_yummy]

mahirap lang ako...di ko kaya magbayad ng interest..kaya cash lang alam kong way...

[thefounder]

i check BDO SM fairview and i was really surprised kasi sila ang may pinakamababang rates na nakuha ko. In comparison with the table below:

BPI - 20-21% 3 yrs interest rates
BDO - 16-18% 3 yrs interest rates
Honda - 25% for 3 yrs interest rates
Mitsubishi - 22% for 3 yrs interest rates

Take note mabilis din processing dito. Highly recommended ko BDO for bank financing.
This is no joke, just want to help out!