Pasalo Cars - Why?

[_Cathy_]

some years back, there was reportedly a tidal wave of rematadoes. that the bank bodegas were full of repossessed cars, because of very lenient screening policies.
one would think, the lending institutions would already have learned their lesson.

in my opinion, when a car is repossessed, the chances that the bank can recoup its investment, are not so good. in repossessed cars, both parties are the loser.

My Mom is good friends with the branch manager of a local bank kaya she would tell my Mom if there is a "good buy". Pero ayoko kasi superstitious ako e Parang malas bumili ng car na ganyan kasi baka lumipat sayo yung malas ng owner.

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[Wh1stl3r]

madami din naman reason bakit hindi na kaya bayaran nung original owner.. pwedeng at the time na kumuha sya ok pa yung finances nya.. tapos pwedeng may nagkasakit sa family.. nawalan nang work si misis.. or sya mismo nawalan nang work.. kaya let's not judge these people.

Agree with this. It's just that I personally know too many people who are just plain financially reckless/illiterate. And the banks/loan sharks are more than willing to oblige.

What annoys me the most is some of these people even told me off when I tried to help them understand their finances.

[dr. d]

What annoys me the most is some of these people even told me off when I tried to help them understand their finances.

unless they are paying you for the financial advice, "no one wants to be told, that they made a mistake".

[dr. d]

My Mom is good friends with the branch manager of a local bank kaya she would tell my Mom if there is a "good buy". Pero ayoko kasi superstitious ako e Parang malas bumili ng car na ganyan kasi baka lumipat sayo yung malas ng owner.

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"good buy."
a car in very good condition, and the owner is letting it go toward the end of its installment schedule. kaunti na lang, and "it's yours".
...wish i had those deals...

"dalhin lang yan sa antipolo, and all negative vibrations are driven away".
heh heh.

[ice15]

When I was working there.

May 2 nag offer ng ganyan sa amin... I lost to a colleague twice (one was a Lancer and the other a Civic)

Both owners were working abroad and wanted a better car.

No DP required, bayaran mo lang yung 2 years left sa loan (naging bidding war sya sa office)

***
My personal take, on "pasalo" / "assume balance" - as long as less than 3 years and no cash out with reasonable mileage.

[jut703]

When I was working there.

May 2 nag offer ng ganyan sa amin... I lost to a colleague twice (one was a Lancer and the other a Civic)

Both owners were working abroad and wanted a better car.

No DP required, bayaran mo lang yung 2 years left sa loan (naging bidding war sya sa office)

***
My personal take, on "pasalo" / "assume balance" - as long as less than 3 years and no cash out with reasonable mileage.

Pano nila nilipat sa name nila? What if ginago sila nung seller after the deal?

Pano kung hindi ka taga-banko and the seller did not get clearance from the bank to proceed with the pasalo?

Parang ang shady kasi nung transaction even if the commercial terms are amenable.

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[chronicle]

Diba may case dati dito na di malipat ng buyer name yung kotse kasi may bad credit yung seller?

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[uls]

But why would a person pay for a car that is not even in his name? Kung siraulo yung nagpapasalo, he can get the car after payment is done. Walang habol yung sumalo. Akaka ko naman ma transfer yung name sa buyer.

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sa pagkaalam ko when a car isn't fully paid yet ung original Certificate of Registration hawak ng bangko so di malilipat sa ibang tao

and i think many people don't even mind buying a car and using it for months or years kahit hindi nakapangalan sa kanila

simply coz ayaw nila gumastos sa transfer of ownership

[Yatta]

Matagal na itong mga "assume balance". Pero noong 90s madalas mga gipit talaga ang nagbebenta. Ngayon, with the advent of FB, ginawa nang MO at negosyo.

[ice15]

Pano nila nilipat sa name nila? What if ginago sila nung seller after the deal?

Pano kung hindi ka taga-banko and the seller did not get clearance from the bank to proceed with the pasalo?

Parang ang shady kasi nung transaction even if the commercial terms are amenable.

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Taga office kami and both guys selling were deployed overseas by our office...

Malaki masyado mawawala sa kanila kung lokohin nila kami

But kung di ko kilala nagpapasalo, I will think twice.