Question on BPI Auto Loans

**archielew** · May 7th, 2013 06:27 PM

Originally Posted by 1D4LV

ganito yan....

you are a permanent employee, and you are earning let's say 80k/month, which makes you a capable payer, with no risk of having to be out of job because of your tenure as a permanent employee. then what would be the reason or factor why they need someone who is more than 3 years in the job?

the automobile loan market these days are very competitive. i am sure that the account officer has his/her own quota to fill. if he/she losses you as an account, it will be their loss and the gain of other competitors.

I see. What knowledge! Then I'm better off applying also to other banks while my autoloan in them is still in process?

**_Qwerty_** · May 7th, 2013 06:29 PM

mababa ba rates nang BPI ngayon? baka naman free insurance for 1 year tapos naka add on lang don sa monthly.. say kung ang insurance eh 20T.. in 36 months, 555 pesos lang yan.. kayang kaya nilang idagdag yan don sa monthly ammortization nang hindi mo nararamdaman..

**archielew** · May 7th, 2013 06:30 PM

Originally Posted by fourtheboys96

OT.

Just curios. How good is BPI's Insurance Policy system to make it some sort of a deal breaker for you? Will it save you lots of money or are they easy to deal with in case of insurance claims?

Actually sir, I'm also curious about their insurance, but then yeah, will save you "a lot" for the first 1 year since free nga sya for 1 year. Let's see what the others say about their service, and also kung reasonable/competitive naman ba ang Price.

**archielew** · May 7th, 2013 06:32 PM

Originally Posted by _Qwerty_

mababa ba rates nang BPI ngayon? baka naman free insurance for 1 year tapos naka add on lang don sa monthly.. say kung ang insurance eh 20T.. in 36 months, 555 pesos lang yan.. kayang kaya nilang idagdag yan don sa monthly ammortization nang hindi mo nararamdaman..

Hi Sir, last time I checked, around 29% for a 60 month financing po ang interest rate. Yun nga lang auto renew po sa kanila ang insurance for the rest of the term. So ang question po palagay ko e kung OK ba ang insurance policy nila, saka po yung service.

**_Qwerty_** · May 7th, 2013 06:35 PM

ahh auto renew for the rest of the term.. yan.. dyan ka madadale.. dapat itanong mo na magkano premium for 2nd to 5th year.. baka don bawiin yung 1st year at sobra sobra pa..

Originally Posted by archielew

Hi Sir, last time I checked, around 29% for a 60 month financing po ang interest rate. Yun nga lang auto renew po sa kanila ang insurance for the rest of the term. So ang question po palagay ko e kung OK ba ang insurance policy nila, saka po yung service.

**archielew** · May 7th, 2013 06:38 PM

Originally Posted by _Qwerty_

ahh auto renew for the rest of the term.. yan.. dyan ka madadale.. dapat itanong mo na magkano premium for 2nd to 5th year.. baka don bawiin yung 1st year at sobra sobra pa..

sige sir, once may approval na tatanungin ko yan. may option naman na wag i-avail yung promo e. kesa nga naman FREE nga first 1 year tapos tagain naman yung 2nd-5th year. luge din!

**xwangbu** · May 7th, 2013 06:41 PM

Originally Posted by archielew

Ang tanong na lang ngayon, reasonable naman ba ang pricing nila n insurance, and ok naman ba sila pagdating sa claims? Nakalagay kasi sa terms ng promo, free yung 1 year, pero auto renew ka sa kanila ng insurance. Meaning, sa kanila lang talaga ang insurance mo for the whole financing term.

kung 5yrs loan mo sa kanila - 4 years kang kukuha ng insurance sa kanila.
sa bpi din ako nag-loan last year -avanza 2012 A/T. eto yung premium for the first year na free
insurance:

21,725.62

yung premium ko ngayon - with 10% depreciation: 20,166.26

maganda naman coverage:

VTPL - BI 500,000.00
VTPL - PD 500,000.00
UPPA 350,000.00
deductible - 0.75% ng car price.

di pa ko nagke-claim (fortunately

) kaya di ko masasabi kung madali.

**_Qwerty_** · May 7th, 2013 06:45 PM

sa sample sa taas ni xwangbu.. yung 2nd year premium nya. and the coverage of 500T.. kung sa labas nya kinuha yang insurance kahit w/ AOG na.. hindi lalampas nang 15T ang premium nya.. so don pa lang overpriced na nang more than 5T yang sa bpi... 2nd year pa lang yan.. eh 4 years loan nya..

**archielew** · May 7th, 2013 06:51 PM

Originally Posted by xwangbu

kung 5yrs loan mo sa kanila - 4 years kang kukuha ng insurance sa kanila.
sa bpi din ako nag-loan last year -avanza 2012 A/T. eto yung premium for the first year na free
insurance:

21,725.62

yung premium ko ngayon - with 10% depreciation: 20,166.26

maganda naman coverage:

VTPL - BI 500,000.00
VTPL - PD 500,000.00
UPPA 350,000.00
deductible - 0.75% ng car price.

di pa ko nagke-claim (fortunately

) kaya di ko masasabi kung madali.

Sorry sir, di ko gets yung deductible

Originally Posted by _Qwerty_

sa sample sa taas ni xwangbu.. yung 2nd year premium nya. and the coverage of 500T.. kung sa labas nya kinuha yang insurance kahit w/ AOG na.. hindi lalampas nang 15T ang premium nya.. so don pa lang overpriced na nang more than 5T yang sa bpi... 2nd year pa lang yan.. eh 4 years loan nya..

I see. Thanks sa input sir, laking tulong nito sa pagpaplano!

**xwangbu** · May 8th, 2013 12:09 AM

^Participation fee yung deductible

Bnew price nung unit ko last year is 868k. Ngyon 782k na lng insured value.

Me maganda ding offer sa ken dati psbank pero meyo convenient para sa ken bpi kaya dun ako kumuha.