I've been hearing this term from car dealers and what is a Split Down Payment?? Any advantages and disadvantages of it?? And also, paano yung process nito???
TIA
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Tsikoteer
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March 21st, 2011 10:43 AM #1
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Tera Patrick Fanatic
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March 21st, 2011 10:50 AM #2say you will buy a car thru financing priced at P1Mn. Required DP by the bank is 20% - which is 200,000.00. The dealer arranges that you pay P100k for this month and the balance of P100k the following month. The bank does not know that staggered pala ang downpaymnt. Internal arrangement between you and the dealer na lang. The CATCH is this - hawak ka sa leeg ng dealer - coz they'll be imposing their rates on you.
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Tsikoteer
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March 21st, 2011 10:52 AM #3Ito yata yung half lang nung computed DP ang initially kailangang cash-out ng buyer then yung half is divided into a certain number of months (usually 12months ata) tapos idadagdag sa monthly payments mo. But I could be wrong.
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