Results 111 to 120 of 145
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April 14th, 2020 07:18 AM #111
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April 14th, 2020 07:54 AM #112
It's a businessman's perspective, if he can make more money than the interest of the cash to be paid upfront, then it makes sense. Pero kung swelduhan naman, depende sa priorities mo, then interest is viewed as a way to achieve your goals.
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April 14th, 2020 09:10 AM #113
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April 14th, 2020 09:15 AM #114it's for people who know how to make their money work for them.
you can plunk down one million pesos to buy a car.
or you can make a 200K down payment, and invest the remaining 800K such that it will earn you more money than the interest of your car loan, or even cover the monthly payments.
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September 6th, 2020 02:01 PM #116Hello po!
May query ako regarding car loans, and related din dun sa napost ko sa other thread about my flooded car.
Here's the situation:
My car got flooded and 2 weeks na sa casa pero walang clear na timeline pa rin kung kelan matatapos lahat. As of now ipapasa daw sa insurance, since papalitan daw yung electronic modules and harness. I'm assuming this will take months or worse, more than a year (wag naman sana [emoji24]).
Currently, I am not convinced na reliable pa yung car, since nakita ko firsthand yung nangyari when it was submerged sa tubig. Ok yung makina, pero baka may unseen damages sa loob ng car pati yung ilalim. Problema na naman, if ever. Plano ko ivoluntary surrender nalang yung car sa bank kahit nasa casa pa (6 months pa yung car, no delays sa payment).
Since need ko talaga ng car, naisipan kong mag car loan ulit, which nag agree naman yung agent ko na possible daw. Ok lang kaya yung plano ko? Magpapaapprove sana ako from another bank first, tapos if ok na, voluntary surrender ko na yung isa. Wala kaya akong probleme dito in the future? I know na papangit credit history ko, pero I have no plans sa any other loan in the future aside from car loan.
Thank you!
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September 6th, 2020 03:15 PM #117
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September 6th, 2020 04:40 PM #118I'm interpreting "voluntary surrender" to mean that he's effectively defaulting on the loan and turning in the car as collateral. IMO agreement or not that's still going to be a default, which will likely disqualify him from taking another loan with the same bank. If he does get another loan before doing so, the bank *might* use arrears from his previous car (let's say they are only able to sell it for significantly less than the remaining loan balance because it was flooded) and hassle him when it comes time to cancel chattel mortgage and remove encumbrances on his new car.
With that in mind best to get the new loan from another bank, but do so *before* defaulting on the current car loan, otherwise he'll already have a record on credit tracking stuff (CMAP etc).
The way to do this clean is to sell the flooded car privately and pay off the remaining loan balance. Anything else (including voluntary surrender) is effectively a default.Last edited by Dr.Kamiya; September 6th, 2020 at 04:42 PM.
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September 6th, 2020 04:46 PM #119they are attempting to repair the car and make it serviceable again for you, at no cost (except for participation fee) to you??
as per your other post in the other thread,
i thought it was a total loss...
so now,
they are attempting to repair the car for you..?
if i were me, i would violently dis-agree with them!
underwatered cars have a way of mis-behaving months or years after the event and the alleged "repair".Last edited by dr. d; September 6th, 2020 at 04:52 PM.
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September 6th, 2020 05:09 PM #120Yes sir, kasi nung nag ask ako, di daw icoconsider as total loss, pero nagresearch ako and if either ECU or makina yung nadamage, most likely total loss na. Every other day ako tumatawag sa kanila for updates.
Nagtry pa nga ako mag ask if pwedeng magrequest na iconsider nila as total loss, depende daw kasi sa cost of repair and di din sila makapagbigay sakin ng estimate for now. I'm getting a bit frustrated na kasi I really need the car and more than 2 weeks na, wala pa rin substantial na progress.
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Somewhat expected from a rushed car from a first time carmaker
Xiaomi E-Car