lowest auto loan rate

[JJ All Day]

Question:

Is it possible ba na yung repossed cars ng bank (i.e. psbank) eh sa ibang bank auto loan ko ia-apply? (i.e bpi or any bank that i find having a low interest rate).

Pumapayag ba ang mga banko sa ganitong set-up? any tsikoters na may ganitong experience or mga taga banko dyan na nagbabasa-basa.

Generally, NO.

Because the ownership of the car should be transferred under your name. PSBank will allow you to do so if there is an assurance of payment. The other bank, on the other hand, will release the loan proceeds only after the ownership of that car is transferred under your name.

[JJ All Day]

hello all! i just have a noob question :

ano difference ng add on rate sa effective interest rate?

TIA!

The add-on rate is the rate based on the original principal (all though out the term), while the effective rate is the rate based on the remaining principal (which is diminishing every time a monthly amortization is paid).

Yung effective rate yung yung ginagamit for accounting purposes (international standard); at pagdetermine ng remaining balance, if in case magpreterminate ka.

[PatterBoots]

The add-on rate is the rate based on the original principal (all though out the term), while the effective rate is the rate based on the remaining principal (which is diminishing every time a monthly amortization is paid).

Yung effective rate yung yung ginagamit for accounting purposes (international standard); at pagdetermine ng remaining balance, if in case magpreterminate ka.

Thanks sa helpful info!

[rflores]

Tip: Ask for half of the dealer incentive the banks give to the car dealers.

how does this work?

[Gian Paulo]

May nag-ooffer pa ba ng 0% interest for 1-2 year period, car dealership or bank? TIA.

[Jeff2308]

Yung Peugeot na taktak 3years 0% nakita ko sa sm sta rosa 1 year ago

[melshamatlei]

i just got my car easily for 2 days after application from bank with very low rate of 5.25% PA.

[melshamatlei]

u can check with PsBank Balintawak for more details and maybe lower rates. try to haggle of course.

[urefowei]

i just got my car easily for 2 days after application from bank with very low rate of 5.25% PA.

nice sir.. congrats.. magkaiba PA depende sa loan term (period in years) tama po ba? napansin ko kasi mas matagal, mas malaki PA. TIA

[projectxuv]

Boss, how do you compute PA? Most of the banks na inapplyan ko refers to add-on rate.