My agent/financer office not registered in DTI and SEC

[SCM05]

hello to all!
Im a newbie and planned to have new montero 4x4GLS SE but im scared to deal with the SA that his office is not appeared registered to DTI and SEC,he gave me low DP and low Monthly,is it safe to deal with him?

Thanks for your advice..my apology if this thread is not belong here

[niky]

hello to all!
Im a newbie and planned to have new montero 4x4GLS SE but im scared to deal with the SA that his office is not appeared registered to DTI and SEC,he gave me low DP and low Monthly,is it safe to deal with him?

Thanks for your advice..my apology if this thread is not belong here

Did you go to a dealership? As long as it's an official dealership, there should be no issue. Which one did you go to?

[SCM05]

Did you go to a dealership? As long as it's an official dealership, there should be no issue. Which one did you go to?

Thanks niky..actually he is free lance and i found him in the net,and never been in dealership coz im still out of the country..i just want to close the deal this december so he can put me on the order list of the unit and my unit will be ready by january(home only for 6weeks).is this risky to deal with free lance?

Ciao!

[niky]

Thanks niky..actually he is free lance and i found him in the net,and never been in dealership coz im still out of the country..i just want to close the deal this december so he can put me on the order list of the unit and my unit will be ready by january(home only for 6weeks).is this risky to deal with free lance?

Ciao!

If you don't know the guy personally, don't have referrals from someone you can implicitly trust and he's not registered?... yes, it is kind of risky. Nothing against the guy... but if you can't confirm he's affiliated... well, it's your money.

I'd personally pick the numbers of local dealerships out of the phonebook and contact them directly. Scout around for the best price.

[Horsepower]

If he isn't registered officially, get another. It's not worth the hassle and the risk of losing a lot of your money.

[SCM05]

If he isn't registered officially, geworth the hassle and the risk of losing a lot of your money.

Thanks horsepower!!

Sir can you give me the main role of the agent??sorry po first time buyer,,too young on this field

Last thing if i give my docs/application it means commitment no po ba un sa knya??

Happy safe driving

[mazzipino]

SCM05,

I wouldn't risk it neither, go straight to an SA, or if you can grab hold of a bank SA's number even better.

Giving your documents doesn't mean you're committed, they will be given to banks for the loan application, there are a few stages after this.

Just a little advice, you're going for a Montero right, go to www.sulit.com.ph and search around for some Mitsu SA's there, there are loads of them there. Or visit some of the Mitsu car forums and check out if any reps are on it.

[SCM05]

Thanks for everyone for giving your friendly advice

Giving me bright idea saving me headache in the future and ofcourse saving a lots of bucks....

Happy sunday to everyone

[kihtmaine]

Hmmm that would be a "Fly by night" agents.

[_Qwerty_]

go straight to the dealership..

[1D4LV]

hello to all!
Im a newbie and planned to have new montero 4x4GLS SE but im scared to deal with the SA that his office is not appeared registered to DTI and SEC,he gave me low DP and low Monthly,is it safe to deal with him?

Thanks for your advice..my apology if this thread is not belong here

if i were you, i would go directly to the casa and get the vehicle straight from them. it can save you at least 10k from commissions.

[Horsepower]

Thanks horsepower!!

Sir can you give me the main role of the agent??sorry po first time buyer,,too young on this field

Last thing if i give my docs/application it means commitment no po ba un sa knya??

Happy safe driving

In a nutshell, an agent is someone who looks for a buyer of certain goods to earn off from them either through direct profit or commissions.

If you're gonna pay in installments, the best thing to do is go to a bank like BPI. They will handle everything for you even picking the right dealership. It will also give you the best financing deal possible.

[yellowsalman]

don't risk it. find another agent.

[mark_t]

Hmmm that would be a "Fly by night" agents.

No such thing as 'fly by night" loan processors. The banks will have the money
and stay with them. From their account to the dealers account.

Banks have their own coded agents. ie relationship managers.

DTI registered financing institutions requires a minimum of 1 million php
capitalization plus some other requirements by the central bank.

Unless you have a big account to require your own offices to save on fuel cost
in getting to the bank then there is no point in setting up your own offices.

[mark_t]

go straight to the dealership..

bank approval first then the dealership.

dealerships sell cars. That is how I would do it.

[Galactus]

Marami namang ganyan na so-called "free-lance agents." Most of them are not tied to a single car dealer, sometimes iba't-ibang car manufacturers ang hawak nila. They live purely through commission basis, at yung iba, kilala na ng mga banko.

I got my first car (1996 Sentra EX Saloon) via a free-lance agent. Kakilala ng dating agent din ng Nissan Commonwealth. Sinabi ko lang yung kotseng gusto ko (kasi pasok sa budget), and my preferred terms, tapos pinag-submit lang ako ng Certificate of Employment, siya na umasikaso ng lahat. In less than 3 days, approve na ko sa Union Bank. They even asked me kung gusto ko ng ibang kotse, Mazda 323, kasi kaya daw nilang ipa-approve yun. Kaso, mas mahal, so I stuck with my original choice.

[kihtmaine]

^^I prefer that term. hehehehehehe..

No such thing as 'fly by night" loan processors. The banks will have the money
and stay with them. From their account to the dealers account.

Banks have their own coded agents. ie relationship managers.

DTI registered financing institutions requires a minimum of 1 million php
capitalization plus some other requirements by the central bank.

Unless you have a big account to require your own offices to save on fuel cost
in getting to the bank then there is no point in setting up your own offices.

He said on the topic agent/financer is not registered with dti and sec? What do you called that then? He did not also post any banks or loan processor like you posted.

[mark_t]

^^I prefer that term. hehehehehehe..



He said on the topic agent/financer is not registered with dti and sec? What do you called that then? He did not also post any banks or loan processor like you posted.

They are called "independent contractors", that is what they are
called in their contracts.

No such thing as "fly by night".

Check your contract.

Do you honestly believe that no bank is involved with these financing outfits?