Our auto loan just got approved by PSBank. Is it possible to haggle the insurance, chattel, freebies, etc.?

[pm_me_your_dog]

Out auto loan just got approved by PSBank at 40%DP. Our DP estimate is around 600k but we're short on cash so we're looking for ways na kahit papano mabawasan ang DP. Is it possible na i-haggle yung LTO, chattel, insurance, discount, etc? At kanino kami maghahaggle, sa bank or dun sa dealer na hiningan namin ng quotation? Sorry if this is a noob question, first time buyer po. Thanks!

[dos2]

Yes you may haggle with your dealer LTO, chattel, insurance, or any additional discount para mas lumiit initial cash na ilalabas mo.
If di mo kaya yung 600K na DP, need mo magpa-reasses sa bank mo kung gaano kababa ang ia-allow nila na ibabawas sa down payment mo. Net effect lang is syempre mas lalaki ang monthly mo. If kaya naman ng monthly income mo yung bagong balanse, most probably iaaprove ka pa rin nila even with a lower DP. Baseline minimum ata ngayon for a regular bank client is 20%DP.

[dr. d]

of course you can haggle!
even the richest of corporations haggle!

but my default recommendation, is to make the biggest down payment and the shortest terms, that you can afford. in the long run, you actually save more money that way.

[dranyal]

If you can wait a little more - try out other banks. I got from 4 banks. Metrobank, BPI, BDO and PSBank.
30% down all got approved and Metrobank had lowest rates until BPI launched a promo that was less than 1% more only.
The thing was BPI had free first year insurance that cut the cash out by almost 30K. I'm good with their provider anyway so I went for BPI.
Good luck