surrender or repo?

[delacrlv]

Hello.

For personal reasons, ayoko ng ituloy iyung monthly amortization nung car na kinuha ko.
Ano ba magandang gawin? hayaan ko na lang ma-repossess or ako na mismo ang magsurrender nung car sa bank?

thanks in advance.

[jresperanza]

Hello.

For personal reasons, ayoko ng ituloy iyung monthly amortization nung car na kinuha ko.
Ano ba magandang gawin? hayaan ko na lang ma-repossess or ako na mismo ang magsurrender nung car sa bank?

thanks in advance.

hmmm my idea is

Repo = black listed ka + penalties ???
surrender = quits na kayo???

[ghosthunter]

Hello.

For personal reasons, ayoko ng ituloy iyung monthly amortization nung car na kinuha ko.
Ano ba magandang gawin? hayaan ko na lang ma-repossess or ako na mismo ang magsurrender nung car sa bank?

thanks in advance.

Given your bank a call and hand over the keys.

[Mikemike07]

If you have any sort of decency, surrender your car. Its good to know that you at least have a dilemma about it.

[MD21]

If you have any sort of decency, surrender your car. Its good to know that you at least have a dilemma about it.

Paano po mag voluntary surender sa eastwest bank?

[yebo]

Paano po mag voluntary surender sa eastwest bank?

Go to the bank manager and tell them. That way you get it straight from the horse's mouth.

Also, emphasize to them the difficulty of dealing with the Ford dealership. Sabihin mo yun ang reason bakit mo sinosoli ang kotse. Para naman next time they will not accept loan requests from that dealership. Malay mo they might even put the squeeze on the dealership and .... wishful thinking, but does not hurt to try.

[MonteroGLSV]

yes sir that will be better surrender na lang po,
anyway sir what is your unit?and how long na po sa inyo? baka pwede mo pasalo sa iba mapakinabangan pa nila kesa bank na ang makinabang hehe.
kasi po pag bingay mo na sa bank wla kang makukuha if not mistaken.

pwede din natin pagusapan yan sir hehe.

[Balikpinoy]

What's the car model and year? Which bank? What's the monthly amortization?

[yebo]

the best thing to do is sell it at "assume balance" deal. this way you at least get some of your money back and you also keep your credit record clean.

btw, surrendering the car will also give your credit record a black mark.

[smarxist]

the best thing to do is sell it at "assume balance" deal. this way you at least get some of your money back and you also keep your credit record clean.

btw, surrendering the car will also give your credit record a black mark.

^ This po.

[leodawesome]

interesting :D

[brainmafia_310]

the best thing to do is sell it at "assume balance" deal. this way you at least get some of your money back and you also keep your credit record clean.

btw, surrendering the car will also give your credit record a black mark.

IMHO mas better if you will just let the buyer assume the monthly amort para mabilis, same din naman kasi kung surrender o hatak wala ka makukuha, black listed ka pa sa lahat ng banko.

[yebo]

please post the car model, year, specs (engine, trim, mods if any, type of head unit, tint, and any additional info) and mileage. if you can post a picture (quarter turn so we can see if there is any damage to the body).

post also the monthly amortization, how many months delinquent (or in arrears), and how many months remaining. post also the last insurance premium amount. is the PM service schedule still being followed (important to see if the car is still covered by warranty or not).

malay mo may magkagusto dito and take your problem away from you.

[chrismarte]

halimbawa may sumalo, kanino na mapapangalan yung name?

alam nang bank / dealer yung transaction?

[MiraG4]

Pa help nman po..
Pag nasa legal office na po ba pwede.pa.po bang inegotiate?
I was adviced kasi ng legal officer na ivoluntary surrender ko nlng yung car.
Meron po kasi akong missed payments (pdc payment) in 4 yrs ko pong pagbabayad.
Huling taon ko na this year and willing nman po ako isettle yung mga namissed out kong months pero yun nga isurrender ko daw muna yung car dalin ko daw sa head office ng bank.. then after 3 to 5 days bigyan daw ako ng computation ng need ko isettle. Pero meron po nakapagsabi saken na irerequire ako to pay the unsettled amount plus yung balance ko pa this year..bale iffull payment ko na. Ganun po b tlga.? Sana po may mkasagot salamat po

[ninjababez]

^eto from yebo

hindi yata normal yung lawyer's fees being charged to you. ngayon lang ako nakadinig ng ganyan na case. ask the person you talked to for a copy of the case they filed in court. kung wala then ibig sabihin wala pa na-file, so no fees yet.

ngayon kung tutuo nga yung 180k, ask mo sarili mo: ano mas mahalaga sa iyo, 180k o pangalan mo? kung pangalan mo ang answer e di bayaran mo.

and next time (that is, 10 long years from now kung foreclosed talaga), pag may utang ka bayaran mo, on time. at huwag ka uutang na wala ka pambayad. kasi PANGALAN MO ang nakataya dyan. paano ka mag-loan para sa new house, for educational purposes, for emergencies? wala na, sira na pangalan mo nyan.

sensya na sa sermon pero you need it. madami naman members ng tsikot na may loan, pero i'm sure isang ngiti lang nila sa bank managers nila pinapautang na. dapat ganun ka din - hinahabol ng banko para pautangin, hindi hinahabol ng abogado para singilin.

[Ry_Tower]

Pa help nman po..
Pag nasa legal office na po ba pwede.pa.po bang inegotiate?
I was adviced kasi ng legal officer na ivoluntary surrender ko nlng yung car.
Meron po kasi akong missed payments (pdc payment) in 4 yrs ko pong pagbabayad.
Huling taon ko na this year and willing nman po ako isettle yung mga namissed out kong months pero yun nga isurrender ko daw muna yung car dalin ko daw sa head office ng bank.. then after 3 to 5 days bigyan daw ako ng computation ng need ko isettle. Pero meron po nakapagsabi saken na irerequire ako to pay the unsettled amount plus yung balance ko pa this year..bale iffull payment ko na. Ganun po b tlga.? Sana po may mkasagot salamat po

Depende kung may acceleration clause sa contract na pinirmahan mo. If meron, then need mo nga bayaran lahat ng past due at all other payments.

Baka pwede mo naman paki-usapan na yung due lang muna bayaran. Surrender mo nga lang kotse as a sign of good faith.

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[yebo]

Pa help nman po..
Pag nasa legal office na po ba pwede.pa.po bang inegotiate?
I was adviced kasi ng legal officer na ivoluntary surrender ko nlng yung car.
Meron po kasi akong missed payments (pdc payment) in 4 yrs ko pong pagbabayad.
Huling taon ko na this year and willing nman po ako isettle yung mga namissed out kong months pero yun nga isurrender ko daw muna yung car dalin ko daw sa head office ng bank.. then after 3 to 5 days bigyan daw ako ng computation ng need ko isettle. Pero meron po nakapagsabi saken na irerequire ako to pay the unsettled amount plus yung balance ko pa this year..bale iffull payment ko na. Ganun po b tlga.? Sana po may mkasagot salamat po

Ilang months ang arrears? If 5 months and more ang penalty mo based na sa total amount of outstanding loan. Pag 4 months below penalty is based only on the arrears.

Best is to talk to your bank manager. THE PERSON YOU ARE TALKING TO NOW, FROM THE LAW OFFICE, HAS AN ULTERIOR MOTIVE - THEIR FEE AS A LAW OFFICE. IF THEY COLLECT FROM YOU THEN THEY GET PAID. Go to the bank branch that extended you the loan. Kahit casa financing pa yan meron yan bank branch. Ask the manager to help you. I am sure the bank will be be more than happy tp collect the money from you without having to pay commission to a law firm. Also they are more interested in having you finish the loan instead of having a repo car that depreciates in value every month it stays in their warehouse.

[mark_t]

Better to find buyer to assume the loan. If you can.
Accept the loss due to wear and tear. Make your offer PANALO!

Try to avoid issuing checks when you can opt for check free transactions.
Or accepting post dated checks for this kinds of transactions.
For the buyer require them to have ADA arrangement with your bank.

Require them to open an account with your bank so you can easily
Transfer your obligations.

Or have them get approval from their bank to acquire a second hand unit.
This way everything is black and white and you are sure to be completely
free from further obligations. The insurance coverage also needs to be endorsed
to the new owner which you can pass off as savings to the new owner.

[delacrlv]

Thank you sa lahat ng nagreply. I really appreciate it.
At least now, alam ko na kung ano ang mga options ko.
I still have a month to think about this
Thanks again.