Lack of req.

[dr. d]

Kaya matatag banking system natin dahil strict sila.

baking system, or BIR?
heh heh.

[robot.sonic]

Banking boss.

[makwin]

Audited Financial Statements pertains to the report on the financial position/performance of a company which is verified/reviewed by an independent/external party e.g. accounting or auditing firms. Have you asked them why are they requiring you to submit an audited fs stamp received by the BIR?... If meron ka kilalang CPA na authorized by the Board of Accountancy or merong BIR Accreditation, pa certify mo na lang yung FS mo.

[revans]

Audited Financial Statements pertains to the report on the financial position/performance of a company which is verified/reviewed by an independent/external party e.g. accounting or auditing firms. Have you asked them why are they requiring you to submit an audited fs stamp received by the BIR?... If meron ka kilalang CPA na authorized by the Board of Accountancy or merong BIR Accreditation, pa certify mo na lang yung FS mo.

They told me that requirement daw yun ng Central Bank. Anyway, para matapos na problema ko gumawa na ako ng paraan last thursday, i seek a help from a bank staff and introduced me to an accountant na pwede makatulong sa akin, yun nga lang at may own expense (4K)... hehehehhe. So far wala na ako na tanggap na email and phone call from the bank since yesterday.
Ang tanung ko lang sa kanila, bakit ina-approve nila ang car loan ko? Nag pirmahan na kami ng contract, pinag down payment ako at ibinigay na sa akin ang car, id driven it already for more than 2 weeks, then all of a sudden sasabihin di ni nila mabayaran ang car dealership because of lacking of requiremnents kaya di sila makapag labas ng pera?

[revans]

Kaya matatag banking system natin dahil strict sila.

Kung strict sila, upon application ko sa ng car loan sana pina complete na muna sa akin ang mga requirements na kailangan nila. O bago na kalakaran sa banking system ngayon when it comes to car loan, mag downpayment ka na muna, ibigay sayo ang car and then saka ka na pag problemahin?

[revans]

On a lighter side... this afternoon tatawagan ko yun manager ng bank, bibiruin ko na isuli ko na lang ang car at ibalik nila ng buo ang downpayment, chattel, TPL, insurance and 1 month advance ko hehehehe... coz the truth is, tinawagan ako kahapon ng isang bank na mas binabaan pa nila ang add-on interest rate to 19% for 4 yrs. Ako naman mangungulit sa kanila. hahahahaha

[makwin]

Kung strict sila, upon application ko sa ng car loan sana pina complete na muna sa akin ang mga requirements na kailangan nila. O bago na kalakaran sa banking system ngayon when it comes to car loan, mag downpayment ka na muna, ibigay sayo ang car and then saka ka na pag problemahin?

Definitely No. Kung di ka qualified right there and then di ka na papipirmahan ng PN. The reason why I asked you kung bakit they required you to submit an audited FS w/ STAMP RECEIVED FROM THE BIR? is because hinde naman kelangan yun at mas lalong hinde eto requirement ng BSP. Bank employee ba nakausap mo or agent lang? An audited FS would suffice as long as certified or galing sa isang Accountant authoried by the BOA. Anyway, i am glad na ok na yung problem mo. to our fellow members, below are the usual requirements when applying for a car loan.

A U T O L O A N
Loan Purpose
• Purchase of new car
Loanable Amount
• Minimum of PHP 100,000
Term
• From 12 to 60 months
APPLICATION REQUIREMENTS

General
• Auto Loan Application Form
• Photocopy of valid ID (individual if employed and self-employed / authorized signatories if corporation and partnership)
o List of acceptable ID: Driver's License, Passport, SSS ID, Company ID (if Top 5,000 Corporation), Postal ID, PRC ID
• Photocopy of deposit passbooks or bank statements (6 months)
• Billing statements (cellphone, utilities, etc.) (latest 1 month)
• Vehicle quotation from the dealer (if available)
Employed
• Copy of Income Tax Return (ITR) with BIR or bank stamp (latest 1 year)
• Certificate of Employment stating applicant's position, income, and length of stay in the company (original copy only)
Self-Employed
• Copy of business registration papers with DTI (if single proprietorship) or SEC (if partnership or corporation)
• Copy of Audited Financial Statements (latest 1 year)
• Copy of Income Tax Return (ITR) with BIR or bank stamp (latest 1 year)
Corporation / Partnership
• Copy of business registration papers with DTI (if single proprietorship) or SEC (if partnership or corporation)
• Copy of Audited Financial Statement (latest 1 year)
• Copy of Income Tax Return (ITR) with BIR or bank stamp (latest 1 year)
• Secretary's Certification / Board Resolution

[revans]

[QUOTE=makwin;2233992]Definitely No. Kung di ka qualified right there and then di ka na papipirmahan ng PN. The reason why I asked you kung bakit they required you to submit an audited FS w/ STAMP RECEIVED FROM THE BIR? is because hinde naman kelangan yun at mas lalong hinde eto requirement ng BSP. Bank employee ba nakausap mo or agent lang? An audited FS would suffice as long as certified or galing sa isang Accountant authoried by the BOA. Anyway, i am glad na ok na yung problem mo. to our fellow members, below are the usual requirements when applying for a car loan.

Bank employee mismo, tinawag pa nga ang bank manager ng pinakita ko quotation ng ibang bank and interest rate at sabi... "Sige habulin mo"...
Dito ko din kasi nalaman sa tsikot na pwede din pala maki pag haggle ng lower interest rate sa bank.

Anyway nai-share ko lang naging experience ko....

[1D4LV]

hi, newbies po
ive always wonderring, how can i hav this car, isa po akong ofw d2 sa korea, but sad to say, wala na aq contract, (tnt), and planning to go home this april 2014 for good., ive already stablished my own business in phil (lending business that can support enough including car loan) for morethan 3 yrs now. but again, i dont hav a business permit, in other words, i dont have the neccessary req. aside from bank documents, is there any chance na mka loan aq.?<br/>hope that this massage of mine will merit your time and effort, pls. reply..
thanks in advance.

only thing i can see is that you have to have an ITR that will support your capability to pay.
or if you have a bank branch manager friend who can guarantee the loan for you.

[marjako27]

They told me that requirement daw yun ng Central Bank. Anyway, para matapos na problema ko gumawa na ako ng paraan last thursday, i seek a help from a bank staff and introduced me to an accountant na pwede makatulong sa akin, yun nga lang at may own expense (4K)... hehehehhe. So far wala na ako na tanggap na email and phone call from the bank since yesterday.
Ang tanung ko lang sa kanila, bakit ina-approve nila ang car loan ko? Nag pirmahan na kami ng contract, pinag down payment ako at ibinigay na sa akin ang car, id driven it already for more than 2 weeks, then all of a sudden sasabihin di ni nila mabayaran ang car dealership because of lacking of requiremnents kaya di sila makapag labas ng pera?

excactly what i thought, buhay nga naman..