Low down payment car financing/loan

[ernest_john1984]

Hi mga bro papatulong sana ako kung may kilala or alam kayo na nag car financing na may low down payment at kaya stretch hanggang 5 years ang terms. Pang first car ko po.

Salamat ng marami.. God bless..

[_Cathy_]

Don't you think low dp on a 5 yr term is quite a stretch?

You may want to try BDO. I am assuming they're not that strict when it comes to car loans since I qualified for a car loan despite my being employed for less than a year then. DP was 50%, 2 or 3 yrs to pay ata.

[digitalron]

There are a lot of all-in, low DP, 5/6 year financing terms available for many of the common car brands. Just keep in mind that a 5-6 year term makes your total car purchase hit 40-50% more than the cash price. As an example, yesterday I asked (just for kicks) what the cost will be for the Kia Soul 1.6 for an all-in, 5 year plan. The agent said Php150K DP (all-in) and roughly Php18K a month for 5 years. This equates to Php1.23M. With a cash price of Php 899K, the difference is Php 331K or 37%. Personally, the sweet spot for car financing is 2-3 years, no more than that.

[adamsnyder]

Hello..
These days so many companies are available which provide you the car loan in a very low interest rate. You just have to give the small amount of money called as down payment and drive the dream car to the destination.
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Click Title Loans Tampa to know more about it.

[picanicanick]

I was a victim of some car financing assistance group. They asked us to pay a chattel mortgage even though there is no approval yet from the bank. While in their office, they let us fill up a bunch of forms and signed blank documents that says we are loaning from an XXX Bank. (I cannot disclose the name of the bank yet). The said signing of documents is a proof that our loan applicaiton will be approved and that they will do the best they can so our car will be released asap. The car loan financing people promised that the car will be release within 3 days or a week. Days have passed, everyday I tried to follow up with the, all they can say that everything is good to go and that they're only waiting for a Go signal from the bank blah blah blah. Every I followed up with them and kept saying the same thing that they're waiting for a go signal so we can proceed with the dealer. We are already getting pissed because we're loosing hope that all they promised never happened. They even told us because that our loan type is on low down payment, it will likely take 1 month to get released. When they told us that it could take 1 month, that pissed me off and told them that I am going to refund instead of wait for them. Why did I even asked assistance from a car loaning company if they cannot do anything about my loan. Why do they need to promise that the unit will be release within a week. This is a really bad encounter with a car loaning company so please beware with your transaction especially, when seeking help with that kind of company.

[autotekz]

*picanicanick - I was a victim too. I'll post the details later. This lowdown scheme is happening all over and is just a modus operandi of the SA.

[shadow]

Why need to go for a middleman so to speak to get a car loan, direrso ka na Sa bank, they will be more than willing to give you loan

[autotekz]

*shadow - Reason why we go for the SA lowdown or in house financing because the LTO, Chattel and Insurance are free also the DP is much lower (but higher monthly) also there's a lot of freebies. That's the catch but its just a bull crap.

[BratPAQ]

here are some of the 5 year term we got during our canvass. some of them are from malls, some are direct from SA.

vios 1.3e AT 45k down and 15.6k monthly (its a promo but it has ended already, toyota pasong tamo currently have promo)

hyundai i10 AT - 38k down, 13.6k monthly, all-in, back up sensor and backup cam, dvd lcd touchscreen, no abs, driver only airbag.

hyundai accent AT - 58k down, 17.4k monthly.

suzuki celerio - 38k down, 13.4k mothly, abs + ebd, airbag for driver and passenger.

if i can choose from these, id get the celerio, good fc for city driving, 2 airbags, abs + ebd, i suggest choose a brand then haggle branch by branch, tell them whats the lowest offer you get from other brand and assk them if they can offer a lower deal.

[reactor]

normally those dealers offering low down or evewn no down is giving all in their package. the reason is that the interest rate is HIGH. if you go thru your own bank they (your bank) may give you 26% for 5 years (in my case) BUT if you apply for aloan thru in-house they may give you as high as 45%.

if you compare their offer, financing thru your bank may just give you normal freebies BUT if you go thru their in house you can ask for more. if you avail the low down they will give you more so try to get all the offers and interest from your dealer (in house) and thru your own bank / branch.

[LordWorm]

Bro, balak din namin mag avail nang low down actually were torn between Celerio AT and Chev Spark AT both have 38k DP, of course we know na malaki ang interest compared sa normal bank financing.

Any update sa loan mo? hindi pa ako pumipirma naka abang na ang Celerio and Spark, sabi nang SA ko meron na approval from bank for low down. Anyone from here na nakapag avail nang low dp scheme, might share experience. Totoo bang ma rerelease nila agad even said same day ang unit provided that all requirements are present? May mga recorded bang scam dito?

Thanks and goodluck to us!