lowest auto loan rate

[balas12c]

I�m planning to buy a new car changing the old one and I�m finalized with the Toyota Fortuner. I�m in short of money and thought to take a an auto loan. I�ve contacted an auto loan service provider in New Jersey and collected the necessary informations. Since I�m taking a loan for the first time, I�m not sure about the things to be considered while choosing an auto loan. So it would be really helpful if somebody shares some info.

[adranazarraga]

Hi mga mam at sir. Im planning to buy my first car, hopefully, early next year sa feb or march. Paquote naman ng magandang car loan rate or baka may marefer kayo na ok:
ford wildtrak = 1420000
Dp = 20% or 30%
Term = 5yrs. Kung kakayanin 3yrs.

Thanks sa mga makakatulong

[small4ward]

UNIT
MIT. MIRAGE G4 1.2 GLX AT

SRP
680,000

DISCOUNT
70,000

NET SELLING PRICE
610,000

20% DP
122,000

LOAN AMOUNT
488,000
FINANCED BY EWB
TERM
60 MONTHS

RATE
26.26%

MONTHLY AMORT. (OMA)
10,270.00





CASH OUTLAY:
DOWNPAYMENT
122,000.00
PAY TO DEALER
OMA
10,270.00
PAY TO EWB
CHATTEL
15,200.00
PAY TO EWB
INSURANCE
15,735.00
PAY TO EWB
TOTAL CASH OUT
163,205.00



*FREE 3 YEARS LTO REGISTRATION C/O DEALER
*1,700.00 TPL (PAY TO DEALER)


ok po bang deal to?

[tonytonytonton]

Two bank approvals for 60 months computation, BPI 26.98, BDO 25.02, In the end BPI is still cheaper because of the free insurance which is around 28k.

[tootles3]

Mga Sir's/Ma'am,

I am planning of buying a 2nd hand Toyota Avanza. Could you please help me kung saan ang pinaka-ok na mag-auto loan/car financing? Mababa na po ba ang 1.14% per month?

[MonteroGLSV]

Mga Sir's/Ma'am,

I am planning of buying a 2nd hand Toyota Avanza. Could you please help me kung saan ang pinaka-ok na mag-auto loan/car financing? Mababa na po ba ang 1.14% per month?

Sir taas nyan sir,almost katumbas na ng 3yrs yan sa bank if brand new kunin mo. pero ganun po tlaga kalakaran sa 2nd hand car sir mataas interest nila
anyway sir ilang taon na po ung kunin nyong car?baka pwede nyo pasok sa BPI yan mas mura ng kunti IMHO...

[creepy]

try BPI family it is lower.
1 year is sub 5%

I think you're mistaken. The way they "compute" it makes it look like 5% to most people. But it's probaby around twice that.

[akal]

Just got car loan from BPI Family : 6.10% ( 1 year term)

we applied it thru toyota kaya mas mataas kesa nakapost sa website nila.

[creepy]

I think many of you are sadly misled -- the 6.10% (or sub-5% rate) mentioned is not an annual interest rate...

[mark_t]

[quote=creepy;72367 that.[/quote]


OT

Hi creepy,

Nagtatanim ka ba talaga ng kamote?

I am planning to start my own sweet potatoe patch
this year.

I am targeting to plant 2 varieties and would
like to now or compare notes on pests that you encountered.

[mimijoyjoy]

hi there...

have u tried sterling bank?

rate is 4.22% for 12 mos.

[nuelletaino]

Mga sir,

New member lang po ng tsikot. Nakita ko po kasi 'tong thread niyo at kailangan na kailangan ko ng inyong tulong.

Nabasa ko po kasi sa website ng BDO na, I quote: "There is a requisite down payment of 20%. For used cars, term is up to 4 years, and loan amount is up to 70% of appraised value or selling price, whichever is lower."

Questions:
1) "There is a requisite down payment of 20%..." - So for example the value of the car is Php 520,000, I have to DP Php104,000 so balance is Php416,000, right?
2) "...loan amount is up to 70% of appraised value or selling price..." - Does this mean na when they approve my loan I'll only get at least 70% of the Php416,000 lang (Php291,200)? Tama po ba intindi ko?
3) I'm buying 2nd Hand Honda Civic 1.8V low miles good condition at Php520,000, ano po pinaka OK na bank in terms of interest rates on 2nd hand cars? Is there someone who can give me a good auto loan deal?

Looking forward to your cents worths...

Nuelle

[rattrapante]

Mga sir,

New member lang po ng tsikot. Nakita ko po kasi 'tong thread niyo at kailangan na kailangan ko ng inyong tulong.

Nabasa ko po kasi sa website ng BDO na, I quote: "There is a requisite down payment of 20%. For used cars, term is up to 4 years, and loan amount is up to 70% of appraised value or selling price, whichever is lower."

Questions:
1) "There is a requisite down payment of 20%..." - So for example the value of the car is Php 520,000, I have to DP Php104,000 so balance is Php416,000, right?
2) "...loan amount is up to 70% of appraised value or selling price..." - Does this mean na when they approve my loan I'll only get at least 70% of the Php416,000 lang (Php291,200)? Tama po ba intindi ko?
3) I'm buying 2nd Hand Honda Civic 1.8V low miles good condition at Php520,000, ano po pinaka OK na bank in terms of interest rates on 2nd hand cars? Is there someone who can give me a good auto loan deal?

Looking forward to your cents worths...

Nuelle

Most banks will require at least 30% down for used cars and 20% for brand new cars. In the case of BPI, used car loans are almost double the interest over brand new cars. There is also a limit of loan duration. Depends on the bank, they base the maximum loan terms on the age of the used car. Example, if they have requirement that the car must be 6yrs old or younger by the end of the loan term, so if you are getting an 08 model maximum term is 3 years.

The loanable of 70% appraised value is not the same as the selling price, if the appraiser only gives a lower value than the selling price then your initial down will be higher. So if the appraiser only gives a value of 450,000, loanable amount is 315,000 so you must still prepare 205,000 cash to pay for the DP (520,000 - 315,000).

[nuelletaino]

*rattrapante

Thanks bro, medyo gets ko na. 1st time ko din kasi bibili ng auto eh, pamana lang naman yung rolla namin.

So in BDO's case (my example) EITHER-OR lang yung 20 at 30%, tama ba? For BNEW 20% for 2ndHand up to 70%.

So ibig sabihin pag nag auto loan 70% of the 520K yung kaya nila iloan sakin (plus interest of course), pero may possibility na lower than 70% lang ang ibigay nila? Uh-oh!

[rattrapante]

*rattrapante

Thanks bro, medyo gets ko na. 1st time ko din kasi bibili ng auto eh, pamana lang naman yung rolla namin.

So in BDO's case (my example) EITHER-OR lang yung 20 at 30%, tama ba? For BNEW 20% for 2ndHand up to 70%.

So ibig sabihin pag nag auto loan 70% of the 520K yung kaya nila iloan sakin (plus interest of course), pero may possibility na lower than 70% lang ang ibigay nila? Uh-oh!

It's 70% of appraised value (bank's own appraiser), so if they give you a higher appraisal, you can get a bigger loan. Though if they appraise it at a lower price you have to shell out more cash.

Sometimes given the added cost, risk and hassle of buying a used car, it's better to just buy a brand new car even if it's a lower model, at least there is less worries for a couple of years. I really think that if you want to buy a used car, do not loan it but pay cash.

[dokjason]

I went bank hopping and as of today (3/7/12), this is what i got. All payable in 60months.

BDO 32.02%oma
PSbank 28.49%oma
Metrobank 28.41%oma
Unionbank 42.39%oma
BPI/BPI Family 34.8% not the oma rate though

Happy bank hunting guys!

[yapoy86]

got mine from PNB 26.99% oma 60 years to pay

[Retz]

got mine from PNB 26.99% oma 60 years to pay

you gotta be kidding.

[mda]

Mukhang 60 months yan

[yapoy86]

60 months pala... hehe nag halo yung 5 years at 60 months hehehe.. sorry tao lang