Assuming balance of a car question

[lester_016]

Question lang po,ano-ano ba mga kailangan na documents if si buyer ay kukuha ng car kay seller pero hindi pa niya ito tapos bayaran sa bank. Kinuha niya yung oto na brandnew. Sya na daw magpapatuloy magbayad nito for 2 years pa. Need your inputs. Thanks.

[999]

Question lang po,ano-ano ba mga kailangan na documents if si buyer ay kukuha ng car kay seller pero hindi pa niya ito tapos bayaran sa bank. Kinuha niya yung oto na brandnew. Sya na daw magpapatuloy magbayad nito for 2 years pa. Need your inputs. Thanks.

hi
delikado yan especially if hindi mo talaga kakilala buyer mo....
si seller pa din liable sa bank loan if hindi nag bayad si buyer..
much better if pabayad mo na lang cash sa kanya or sell to him the remaining balance of your loan sa bank

[1D4LV]

tama si 999.
nangyari yan sa in-law ko.
may notification na ang bank na assume balance ng buyer, pero hindi naman kasi pwedeng palitan yung loan.
tapos hindi ata nakabayad yung buyer, ang hinabol is yung in-law ko.
pinuntahan pa ng sheriff, pero wala na dun yung sasakyan.

di ko alam kung nabawi na din.

if you would be doing this, ask for PDCs or sell it in cash.

[lester_016]

Thanks po sa replies. Magkakilala naman po si buyer and seller, so i think hindi po magiging problema ang bayaran and well off naman din po yung bibili. Yung mga documents kaya na kailangan for this kind of transaction. Ano po yun?

[1D4LV]

Thanks po sa replies. Magkakilala naman po si buyer and seller, so i think hindi po magiging problema ang bayaran and well off naman din po yung bibili. Yung mga documents kaya na kailangan for this kind of transaction. Ano po yun?

imho ulit..... maski magkakilala, mahirap na.
the story above dun sa sis in law ko, pinsan ng hubby nya ang nakabili.
better pa din kung may guarantee like PDCs.

[K.I.L.L.]

Can't he pay for the balance first?

And if he can't, are you paying for the car in cash? If so, ask him to use that to pay off the balance. The bank would issue an OR for the payment and a clearance for the mortgaged vehicle CR.

[999]

imho ulit..... maski magkakilala, mahirap na.
the story above dun sa sis in law ko, pinsan ng hubby nya ang nakabili.
better pa din kung may guarantee like PDCs.

tama si "1D4LV" at K.I.L.L. = ask them to issue PDC'S or ask him to pay the balance. ..in these kind of transaction wala kang habol , in the end ikaw hahabulin ng bank dahil sa seller ang loan.

[K.I.L.L.]

Just to add, there is a clearance document that you need to get from the municipality where the loan was gotten so if the bank was located in Mandaluyong, you need to get a clearance from the town hall. The clearance document is for when you transfer the vehicle to your name. I believe it is one of the requirements from the LTO along with the OR from the bank to prove that the loan balance has been paid and satisfied.

[Sarsi]

Thanks po sa replies. Magkakilala naman po si buyer and seller, so i think hindi po magiging problema ang bayaran and well off naman din po yung bibili. Yung mga documents kaya na kailangan for this kind of transaction. Ano po yun?

Mas malaking problema yan, dahil magka kilala. Sabi nga, matakot ka sa taong di mo kilala, pero mas matakot ka sa taong kilala mo na.

Look for other car na malinis na ang papeles, umiwas na kayo sa sakit ng ulo.

[dr. d]

Mas malaking problema yan, dahil magka kilala. Sabi nga, matakot ka sa taong di mo kilala, pero mas matakot ka sa taong kilala mo na.

Look for other car na malinis na ang papeles, umiwas na kayo sa sakit ng ulo.

maybe you can ask the bank for the proper documents necessary.. i am sure there is a way to legally transfer the responsibility to the buyer.
basta naka-mortgage ang car, dapat palaging kasama ang bangko sa usapan..