PSBank Repossessed Cars.. Don't BUY!!!!

[chua_riwap]

^ another victim of PS bank........

[KERSMcRae]

I purchased a 1 year old Chevrolet Captiva from PSB bank

On registering the car at the LTO I was approached by pulis officers whom took my keys and original documents stating that it was registered as wanted/stolen.

I rang the bank on the way to the pulis station and notified the bank of the situation. They promised they would send somone that afternoon to the pulis station.

However, after being detained at the pulis station as a carnapper, no PS Bank representative arrived. I was detained for 11.5 hours.

The next day PS Bank represenatives arrived to speak with the pulis to get the car stolen records cleared. I visited head office with an attorney to demand a courstesy car to continue with my daily duties until this matter was resolved. I have been refused and was told to use taxis. However, its not easy calling a cab if its peak time and there are areas in Manila where taxis do not frequent often e.g. industrial parks etc. ). My work duties have been seriously delayed and the expense of attorneys, travelling etc. has been considerable.

It was fortunate I was not shot as a carnapper during the 4 months of ownership. PS Bank were both negligent and criminally liable for selling me a stolen car. I hope this matter is resolved by the bank under your departments watchful eye as I feel they are handling this case with low priority.

I have notified the central bank and will be sueing. Please PM if you have had a similar experience.

ask "wifi21" if she can help you out. contact her thru pm.

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n.b.
her work is on PSBank 'autoloans' (repo or brand new) ONLY, but I think she might be a little help. Since this will make a big problem on her on that department (of the bank).

[galant E SS]

The victims must file a case for damages before the court against the PSBank, the latter is liable to their victims for actual damages-the amount of money paid by the victim for the car; moral damages-for the embarassment caused to the victims, besmirched reputation, moral shock, moral anxiety, sleepless nights etc; exemplary damages-para hwag pamarisan ang maling gawain ng bank; attorney's fees and expenses of litigation/cost of the suit. The victims should not just have slept on their rights. Imagine, hinuli sila ng police officers and their cars were confiscated from them, as if they were carnappers or has knowledge of the carnaping where in truth and in fact, they were innocent purchasers for value. tsk! tsk!

[vinj]

I purchased a 1 year old Chevrolet Captiva from PSB bank

On registering the car at the LTO I was approached by pulis officers whom took my keys and original documents stating that it was registered as wanted/stolen.

I rang the bank on the way to the pulis station and notified the bank of the situation. They promised they would send somone that afternoon to the pulis station.

However, after being detained at the pulis station as a carnapper, no PS Bank representative arrived. I was detained for 11.5 hours.

The next day PS Bank represenatives arrived to speak with the pulis to get the car stolen records cleared. I visited head office with an attorney to demand a courstesy car to continue with my daily duties until this matter was resolved. I have been refused and was told to use taxis. However, its not easy calling a cab if its peak time and there are areas in Manila where taxis do not frequent often e.g. industrial parks etc. ). My work duties have been seriously delayed and the expense of attorneys, travelling etc. has been considerable.

It was fortunate I was not shot as a carnapper during the 4 months of ownership. PS Bank were both negligent and criminally liable for selling me a stolen car. I hope this matter is resolved by the bank under your departments watchful eye as I feel they are handling this case with low priority.

I have notified the central bank and will be sueing. Please PM if you have had a similar experience.

Could it be possible the original owner, whom the car was repossessed from, may have reported the vehicle as stolen to inconvenience anyone involved with the car (whether it be PSBank or the new buyer)? I checked out their warehouse last weekend and noticed they do not transfer the name from the original owner until the car is processed to be sold. That's negligence on their part to save money on transfer fees since some banks i know transfer the name of the CR/OR to the bank after it is repossessed.

Daming Kia na nakadisplay (Soul, Rio, Sportage) and now they even detail the car before putting it on display; unlike before where banks just haul it and store it and sell it as is.

[weisshorn]

Could it be possible the original owner, whom the car was repossessed from, may have reported the vehicle as stolen to inconvenience anyone involved with the car (whether it be PSBank or the new buyer)? I checked out their warehouse last weekend and noticed they do not transfer the name from the original owner until the car is processed to be sold. That's negligence on their part to save money on transfer fees since some banks i know transfer the name of the CR/OR to the bank after it is repossessed.

Daming Kia na nakadisplay (Soul, Rio, Sportage) and now they even detail the car before putting it on display; unlike before where banks just haul it and store it and sell it as is.

Di kaya nag report ang dating owner na ang car was stolen or carnapped after mahila ng PSBank ang unit just to save face or pwede rin para perwisyo sa banko ang pag dispose ng unit. Naisip ko lang.

[Ry_Tower]

I won a bid for a 2008 Vios 1.3E last 2010. However it was late of them to notify me so I purchased the Paj instead. Was not able to check this thread but luckily this thread resurfaced. Will be also careful next time.

[Lutheran]

Josko kagagaling ko lng sa whse nila to bid a pick up . But kung ganito ang feedback sa psbank i have to think again.

[999]

Josko kagagaling ko lng sa whse nila to bid a pick up . But kung ganito ang feedback sa psbank i have to think again.

you can check first the papers given to you before you commit to any legalities.

[crazy_boy]

Nakakuha kami ng delivery van last year sa psbank. Wala naman naging problem sa papers so far.

Sent from my Nexus 7 using Tapatalk 2

[rafmac]

Not sure about the frequency, but bids are opened at least 1x or2x a week. Once your bid is accepted you are given x # of days to settle your bid then your unit is released in a couple of days

Problem with repo cars is that this is as is where is basis and you cant bring it out for a test drive and for psbank since nasa warehouse sya its dark and mahihirapan ang mechanic mo to inspect the car thouroughly

With any repo car its a gamble
Some owners would abuse the cars before returning it


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[sirkosero]

sa PS na warehouse, idedeclare naman nla kung may problem sa papeles ang unit.

problema nga lang, bawal test drive. start lang ng engine

Sent from my Thrill 430x using Tapatalk 2

[shadow]

You should also probably share Kung anong brand and model ng kotse saka yun price.


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[SW21]

You should also probably share Kung anong brand and model ng kotse saka yun price.


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Suzuki Celerio na 2012 model automatic. Floor price nasa 360K pesos. Low mileage pa nung nakuha ko.

[sivart08]

Question lang po sa mga successful na naka bili sa ps bank. May inooffer po sila sa akin na 2013 lancer ex na 2013 441k po. Bali downpayment ko ay mg 88k question magkano pa po ba magagastos ko lahat lahat pag balak ko i continue ito. I mean sa chattel, insurance at transfer fees. Kahit estimate lang po. Thanks.

[1D4LV]

Question lang po sa mga successful na naka bili sa ps bank. May inooffer po sila sa akin na 2013 lancer ex na 2013 441k po. Bali downpayment ko ay mg 88k question magkano pa po ba magagastos ko lahat lahat pag balak ko i continue ito. I mean sa chattel, insurance at transfer fees. Kahit estimate lang po. Thanks.

Chattel is around 10k.
Insurance is around 15-18k.
Transfer fee is around 5k.

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Question lang po sa mga successful na naka bili sa ps bank. May inooffer po sila sa akin na 2013 lancer ex na 2013 441k po. Bali downpayment ko ay mg 88k question magkano pa po ba magagastos ko lahat lahat pag balak ko i continue ito. I mean sa chattel, insurance at transfer fees. Kahit estimate lang po. Thanks.

Chattel is around 10k.
Insurance is around 15-18k.
Transfer fee is around 5k.

[Pipo1213]

Good morning, saw this thread and nakatulong ng malaki.
More or less yung issues early in this thread are resolved, from our experience and background check. Kaya we proceeded to get a vehicle last week.
Bought a Hyundai Tucson 2011 with low mileage. We bidded for the selling price para mas malaki yung chances na ma-award samin, at nagkatotoo naman.
Overall had a nice experience from the people sa warehouse and PSBank HO and branch people.
Yung monthly naming, kung bumili kme Bnew, baka subcompact car lang makuha. So with the price we are paying now, naka-SUV pa. Be vigilant lang sa pagtingin ng kotse.
Goodluck sa new buyers!

[b_9904]

Good morning, saw this thread and nakatulong ng malaki.
More or less yung issues early in this thread are resolved, from our experience and background check. Kaya we proceeded to get a vehicle last week.
Bought a Hyundai Tucson 2011 with low mileage. We bidded for the selling price para mas malaki yung chances na ma-award samin, at nagkatotoo naman.
Overall had a nice experience from the people sa warehouse and PSBank HO and branch people.
Yung monthly naming, kung bumili kme Bnew, baka subcompact car lang makuha. So with the price we are paying now, naka-SUV pa. Be vigilant lang sa pagtingin ng kotse.
Goodluck sa new buyers!

Congrats bro!

[Maricor Burnal]

I also have a car and got it from a loan in Get Money Fast | Personal, Car, Cash, Seaman, OFW Loans and more. They have good people to help in planning your loan. I totally recommend them.

[mailhabs]

*sir sirkosero ..ah ok salamat po..yun lang ang layo kasi samin kaya wala pang time makapunta at makapag bid..PSB yung seller so pag mag bank finance ako sa PSBank din ba dapat ako mag auto loan?

[sirkosero]

yup. either pay in full or thru psb auto loan sir