lowest auto loan rate

[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.

[cyrusblutrooper]

anyone tried EastWest Bank
20% down
31% interest rate for 5yrs.
is this fair enough?

[prettyred]

anyone tried EastWest Bank
20% down
31% interest rate for 5yrs.
is this fair enough?

Check with ChinaBank. We got our car loan (20%down) from them 26.27% for 5yrs., with 1 month advance amotization. Mababa din insurance and chattel. Yun nga lang freebies from Hyundai (Accent 1.4 A/T), yung basic lang na tint, floormats, seatcover. We paid for 3yrs LTO.

ChinaBank also has 15% down and 72months term. I just don't know their rates for these.


Metro Bank gave us 28.5% for 5yrs (1mo. advance amortization). I think this is still negotiable if you have an account with them.

[javaman]

sang chinabranch po kau nag loan ? thnx

[prettyred]

sang chinabranch po kau nag loan ? thnx

Chinabank Pampanga (San Fernando). According to the branch manager, all branches (even Metro Manila) can give said rate basta ma-approve ng head office nila. To avail of such rate, dapat may existing account with them.

[kangkaroth]

may idea po ba kayo mga sir on the lowest rate bank for a 2003 year model car? most of the banks kase 5-6 years old lang dapat e. di umabot. heheheh

[lemmerace]

think i saw whats the lowest. kapagod din maglakad, hehe.

5yrs
PSBANK 29.X
EASTWEST 3X.X
METROBANK 26%

Metrobank Rada-Rodriguez rocks!

[JUNFLO76]

Guys, try nyo i consider PSBANK.
Mabilis sila pagdating sa car loan, pati personal loan

[JUNFLO76]

eto rates ng PSBANK

Standard One month advance

12 mos 5.05% 4.33%
18 mos 7.60% 6.83%
24mos 11.02% 10.17%
36mos 16.90% 15.96%
48mos 22.96% 21.94%
60mos 29.61% 28.48%

Kapag existing depositor or repeat client ka sa loans nila, pwede pang magpa-approve ng lower rates dyan.
guaranteed fast approval and unit release can be done the next day, if kumpleto kgad requirements mo
by the way, ang requirements lang ng PSBank is latest ITR and IDs lang

Email me at junflo76*yahoo.com, if interested.

thanks guys

[lemmerace]

not a sales agent, just looking for the best car deal and sharing for tsikoters..

Chattel for 5 years-Ford Fiesta 1.4MT Sedan
PSBank 15,109
EastWest 18,500.00
Metrobank 11,859.00

Mas mababa rin binigay na insurance sa Metrobank.

kapag may mas mababa ako nakita post ko dito. wak tayo magpagago sa mga gahaman ^_^

[cjan]

Good day po, im a newbie here and planning to buy a 1.3E A/T Toyota Vios, and i inquired in toyota and here is the quote they gave me: Note, its under TFS

Unit Price: 720,000
Down * 20% - 144,000
Insurance w/ AOG & TPL: 18,313
LTO Reg for 3 yrs: 7,200
Chattel Mortgage: 6,376
Less Discount: 35,000
Total Cash Outlay: 140,889
Monthly Amort for 3 yrs: 18, 752 ( that is 17.21 % for 3 yrs)

Ok po ba itong deal nila sa akin, or dapat pa akong maghanap sa iba? Malaking tulong po kung makakapag bigay po ang mga experts dito ng advice sa akin, kasi i need to buy before the end of the month.
Thanks and God bless!

[Enrikez]

anong bank ito o in-house?

Good day po, im a newbie here and planning to buy a 1.3E A/T Toyota Vios, and i inquired in toyota and here is the quote they gave me: Note, its under TFS

Unit Price: 720,000
Down * 20% - 144,000
Insurance w/ AOG & TPL: 18,313
LTO Reg for 3 yrs: 7,200
Chattel Mortgage: 6,376
Less Discount: 35,000
Total Cash Outlay: 140,889
Monthly Amort for 3 yrs: 18, 752 ( that is 17.21 % for 3 yrs)

Ok po ba itong deal nila sa akin, or dapat pa akong maghanap sa iba? Malaking tulong po kung makakapag bigay po ang mga experts dito ng advice sa akin, kasi i need to buy before the end of the month.
Thanks and God bless!

[lemmerace]

TFS daw. Toyota Financial Services. In house

*cjan, mukang ok yung deal nyo sir. :-)

[cjan]

anong bank ito o in-house?

TFS po ng Toyota sir.

[cjan]

TFS daw. Toyota Financial Services. In house

*cjan, mukang ok yung deal nyo sir. :-)

oo nga sir, parang mababa nga ang bigay sa akin nung agent

[cjan]

oo nga sir, parang mababa nga ang bigay sa akin nung agent

Mukhang makakabili na ako ng gusto kong kotse nito, yehey!!! Sa mga interesado, pm nyo lang po ako at refer ko kayo sa agent ko

[Enrikez]

Ok din ang bigay ng in-house ng Ford at Mazda, sana nga lahat ng car dealers lalo na yung Honda medyo pantayan nila yung mga bank para mas malaki ang sales nila!

[cjan]

Ok din ang bigay ng in-house ng Ford at Mazda, sana nga lahat ng car dealers lalo na yung Honda medyo pantayan nila yung mga bank para mas malaki ang sales nila!

Tama ka dyan sir!