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

[Trippin]

thank you sa feedback sir. 18% in 4 years? damn, that was too big. prang mas okay nga if mag brand new ako if thru financing.

Pero let's say the unit is 2017 model but the price went down already by around 280k, good buy padin ba if 20% downpayment then 4years thru financing?

Was eyeing for a suzuki Ciaz 2017 GL AT na 502,000 lang ung floor price.

Hindi ko sure kung 18% din pag 4 years parang mas mataas pa yata, ask the personnel at the warehouse or at the bank.

Suzuki Ciaz 1.4AT GL is at 785k according to ************, but can probably still be discounted depending on the dealer and the current demand because of the impending ET.

Do note of the is a non-refundable 20k processing fee on top of the other charges (Chattel, LTO, Insurance) that you will need to pay in getting a pre-owned car from PSBank, so that reduces the actual savings you'd be getting.

From my quick compute, you are saving roughly 120k (not 280k) in going at the pre-owned route vs brand new, using 4 years and 18% vs 10% plus the other costs and possible discount from brand new. I don't think you can get the said car at exactly 502k floor price, you'd need to bid a bit higher.

At the end of the day, you have to ask yourself if the 120k savings is worth the risks you are taking in getting the pre-owned car. Remember, the warranty may no longer be intact (depends on the PMSs taken by the previous owner and the dealer rules), plus we don't know where (or how) the car have been to in the past year it was used by the (dare I say it, financially irresponsible) owner. The warehouse is also not lit enough for thorough inspections to be done, plus you don't get to test drive it.

So if this is your first car and not well-versed with the ins and outs of owning one (costs, maintenance), then taking a leap of faith at a pre-owned car for the relatively little savings you may get is probably not the most prudent thing to do. Besides, as tight as your budget already is (taking 4 years to pay for a pre-owned subcompact car), I don't think you can afford to take unexpected out-of-warranty costs or even repairs.

My unsolicited advice to you (and you can stop reading from here if you hate such) is to save your money for now, put it in a low-risk investment in a few months, put the tax savings you will get (from TRAIN) to said money, do more overtime at your gig/work, then come back to PSBank after, say, six months where you have more cash to put into whatever it is you will choose then. The repo'd car in the next year will still be those bought at pre-ET prices so I suppose they will still be selling in PSBank at around the same price you see now for the same units and mileage. Although there might be more bidders then as the gap between pre-owned and brand new will be more apparent.

There is no need to rush getting a second hand car now as there will ALWAYS be repossessed ones there (people never learn their lesson, so don't be one of them while you still can).

[ninjababez]

^ano proof ng purchase mo daw, resibo lang? ORCR?

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[falken]

That "Automobilico" sounds familiar, I read about it in one of the threads and it's not a positive post.

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[dr. d]

That "Automobilico" sounds familiar, I read about it in one of the threads and it's not a positive post.

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medyo maganda pa naman mga kotse sa ads nila...

[maxpedition]

medyo maganda pa naman mga kotse sa ads nila...

Surplus pinoy tawag dyan

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[bhovoi]

salamat sa idea mga sir

[falken]

This thread.

may nakabili na ba sa automobilico

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[tnola23]

Thanks s heads up.. i was considering this pa naman.

[BAHALAKADYAN]

sa lahat nang nabasa ko, ni isa wala akong nakitang bumili nga nang sasakyan sa PSBANK.
Ako, eto nagtatry nang bumili, and in the middle na po of the process!!!!

Unang una, nalaman ko ito from my "FRIENDS" and "OFFICEMATES" that proven na nakabili sa PSBANK, ang guess what!!!! WALA SILANG NAGING PROBLEMA!!!!!

2018 na po ngaun, sa lahat nang nabasa ko dto, ni isa walang naging sense sa akin, bakit?? edi naman kayo nagtry bumili??? ano yan nag-assume kayo lahat???

sa mga ano dyan na porket second hand at reposses ang bibilhin namn, ano ngaun??
for your info mga sir at mam, 2017 lang un bibilhin ko, 2018 plang ngaun, halos isang taon palang un kotse, tingin nyo lugi ako sa presyo?? and if brand new bibilhin namn, tingin nyo di mas lugi kong 5 YEARS TO PAY PERO NAG DEDEPRECIATE UN KOTSE??? PANALO PA BA UN???
MAS PANALO SA AKIN, KUNG SECOND HAND, TPOS HALOS ONE YEAR OLD PALANG, TPOS UN PRESYO KALAHATI NA NANG BRAND NEW, TPOS 2 YEARS KO LANG BABAYARAN, DI BA MAS PANALO UN??? monthly mo sa brand new magkano?? 18K??? SA SECOND HAND, magkano monthly ko?? 9k??? kalahti agad tpos 2 years lang, interest mo palang sa brand new bumili ka ndn ulit nang isa pang brand new diba?

Sa selling price at floor price, uu, malayo difference, pero minsan, nid din nang diskarte sa pagbili...My officemate ako na may kakilala sa PSBANK, nakisuyo ako, pero di ako umasa dun, nagba kasakali din ako, nag bid ako sa PSBANK, at tinwagan ko un nag oorganize nun, sa makatuwid, nag paawa effect ba...akalain mo, kahit mababa ang BID ko, sa akin na grant ang kotse.

I cannot say final na ok na ang PSBANK, kasi nagdududa ako sa mga opinyon nyo dto, ang nakakaano lang, un mga di nakabili pero ang daming assume na panget bumili dto??? Ganon??

Like what I've said, we are in the middle of the process, still waiting for the final auto loan, and since financing, it will take a month bago ma aus ang lahat, pero for my experience, I must say, panalo parin, bakit? ung Brand New na Auto na 2017 cause around 660k, at un na bid nmn at ginarant sa amin na amount, alam mo kung magkano lang?? 372K!!! (floor price is 370k, selling price 402k)

So please, if you have bad experience, wag nmn lahatin, marami kami na GUSTO NMN MAGKAKOTSE KAHIT PAPANO, PERO WAG NYO NAMN SIRAAN NANG SOBRA SOBRA DI BA??