Will I get approved on a car loan?

[yapoy86]

I called the insurance (AXA) kanina and bukas daw yung update nila if ano decision talaga (400k+ daw yung repairs) Parang pinapabayaan nga nila, kasi walang update if hindi ako tatawag or ako mismo magrelay ng mga message ni casa to insurance and vice versa. Baka good idea na isali ko na si bank (Eastwest). Pero ok lang talaga if iinform ko si Eastwest na flooded yung car?


Yung BPI is yung bank na nagapprove sakin today for another car loan. So far ok pa naman sila sakin. Haha. Baka siguro kasi yung active account ko and yung payroll is BPI?

Also, never akong nagdefault or late sa mga credit cards, loans etc. Kaya medyo hesitant pa ako sa plan kong isurrender yung current car na hyundai reina.


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inform mo si eastwest kasi may interest din sya over the property.. kaya nga required na may compre insurance with AOG ka during the term of the loan... kasi gusto din ng bank ma protect yung property para may mabawi sya in case mag default ka

[yebo]

That car is still the bank's property, they should be involved. Bakit itatago mo sa kanila yung problema? Isang tawag lang ng bank manager ng EastWest dyan sa casa at sa insurance solved na problema mo e, total wreck na agad yan.

Huwag matigas ulo.

[dr. d]

Hello 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 ).

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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ay kaya naman palah!

all this time, i thought you were talking to the insurance provider, who instructed the casa to look at the car.
yun pala, yung casa ang derecho nyong kausap at hindi yung insurance?
and it was only when casa communicated to insurance, that the latter found out that your car had drowned?

of course the casa will say they will fix it!
that's how they make money!
they actually make more money, fixing your car instead of selling you a new one.

in the first place, you should be talking to your insurance provider, as well as the mortgage holder (the bank).
good luck, sir.

deep breaths.. deep breaths..

highs.

TS,
if i got it wrong, set me on the right path.

[Biermeister]

That car is still the bank's property, they should be involved. Bakit itatago mo sa kanila yung problema? Isang tawag lang ng bank manager ng EastWest dyan sa casa at sa insurance solved na problema mo e, total wreck na agad yan.

Huwag matigas ulo.

Hindi ko naman po talaga itatago hehe. Ngayon ko lang din narealize. Will call the bank first thing tomorrow.


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[Biermeister]

ay kaya naman palah!

all this time, i thought you were talking to the insurance provider, who instructed the casa to look at the car.
yun pala, yung casa ang derecho nyong kausap at hindi yung insurance?
and it was only when casa communicated to insurance, that the latter found out that your car had drowned?

of course the casa will say they will fix it!
that's how they make money!
they actually make more money, fixing your car instead of selling you a new one.

in the first place, you should be talking to your insurance provider, as well as the mortgage holder (the bank).
good luck, sir.

deep breaths.. deep breaths..

highs.

TS,
if i got it wrong, set me on the right path.

Talked to both casa and insurance po sir. Si insurance na nagsabi to have it checked by casa first. Tapos dun na tumagal. Pero diba ichecheck pa ni insurance yung car tapos sila talaga mag aassess? Baka si Eastwest na talaga makakapagconvince na itotal loss na. Haha. Di ko din talaga narealize earlier kasi ang daming ganap sa work. Halos 5x ko na yata tinanong sa kanila if total loss ba, tapos ayaw talaga ni casa hahaha.

Either way, baka kukuha nalang talaga ako ng ibang car.


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[dr. d]

Talked to both casa and insurance po sir. Si insurance na nagsabi to have it checked by casa first. Tapos dun na tumagal. Pero diba ichecheck pa ni insurance yung car tapos sila talaga mag aassess? Baka si Eastwest na talaga makakapagconvince na itotal loss na. Haha. Di ko din talaga narealize earlier kasi ang daming ganap sa work. Halos 5x ko na yata tinanong sa kanila if total loss ba, tapos ayaw talaga ni casa hahaha.

Either way, baka kukuha nalang talaga ako ng ibang car.


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ah well...
mukhang mahina yung insurance person assigned to you.
tama sila. get your bank in on the action.

don't be stoic!
go stonic!
heh heh.

i await your review.

[yapoy86]

Talked to both casa and insurance po sir. Si insurance na nagsabi to have it checked by casa first. Tapos dun na tumagal. Pero diba ichecheck pa ni insurance yung car tapos sila talaga mag aassess? Baka si Eastwest na talaga makakapagconvince na itotal loss na. Haha. Di ko din talaga narealize earlier kasi ang daming ganap sa work. Halos 5x ko na yata tinanong sa kanila if total loss ba, tapos ayaw talaga ni casa hahaha.

Either way, baka kukuha nalang talaga ako ng ibang car.


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hindi naman casa mag decide kung total loss na yan.. yung insurance pa din.. they will check if the repair amount vs coverage mo.. kasi baka mas luge pa sila kung pa repair yung kotse..
also insurance companies have qualifications or criteria to declare the vehicle as total loss..

casa will only provide their findings and insurance adjuster will verify if true.. again inform the bank!

[tarzegetakizerd]

tsaka kahit nakakuha ka na ng car loan sa ibang bank, it will still mark your records pag nadefault ka sa eastwest. Hindi man sa car, maaffect pa din future possible transactions mo.

[Biermeister]

So.. I tried to call the bank. Pero since always busy, pinuntahan ko na. I told them the situation (opted out of Bayanihan 2 as well hehe) and I asked for the steps they have to take if there's any. Ang sabi nila, they will still wait for insurance's decision if total loss ba talaga. They just told me to ask for SOA in case na total loss talaga para makita ko if malaki ba yung difference ng open amount sa bank and settlement from insurance. I even asked them if it's possible for them to talk to insurance about this and convince them as well pero they can't do anything about it daw. So... apparently ako parin pala dapat kumausap and magconvince sa insurance.

Anyway, parang gusto ko muna ifix yung prob nato before applying for another carloan. At least alam ko na na maapprove pa din ako sa BPI. Haaays mukhang 6 months pa talaga to.

Thanks sa mga input mga sirs! Dami ko natututunan


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[carxynogen]

So.. I tried to call the bank. Pero since always busy, pinuntahan ko na. I told them the situation (opted out of Bayanihan 2 as well hehe) and I asked for the steps they have to take if there's any. Ang sabi nila, they will still wait for insurance's decision if total loss ba talaga. They just told me to ask for SOA in case na total loss talaga para makita ko if malaki ba yung difference ng open amount sa bank and settlement from insurance. I even asked them if it's possible for them to talk to insurance about this and convince them as well pero they can't do anything about it daw. So... apparently ako parin pala dapat kumausap and magconvince sa insurance.

Anyway, parang gusto ko muna ifix yung prob nato before applying for another carloan. At least alam ko na na maapprove pa din ako sa BPI. Haaays mukhang 6 months pa talaga to.

Thanks sa mga input mga sirs! Dami ko natututunan


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Ano po name ng insurance provider nyo po?