Will I get approved on a car loan?

**boytsiks** · October 2nd, 2013 03:53 PM

Originally Posted by E26M

sana sinabi nya kung decline nalang para alam ko na what's next step to do. pero wala. can another SA help on this?

If dont mind me asking, bakit di na lang ikaw ang magpunta sa banks? Same lang naman ang requirements na hinihingi ng bank at in house financing. Correct me if I'm wrong, sa bank din iaapply ng SA mo ang car loan mo.

Makakapamili ka pa kung sang bank ang may mababang interest rate. Malalaman mo rin kagad kung approved ka.

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**jansky** · October 2nd, 2013 04:49 PM

decline na yan for sure..

go to your bank kung saan din ang payroll mo..

usually it will only take 2hrs or halfday pag sa banko

**xcaliber** · October 10th, 2013 11:20 AM

Yup banks are faster in processing than casa in-house na andami pang add-on fees. Buying a car should not be an impulse decision. Try to shop around the banks (BPI, BDO, PSBank etc.) on who gives competitive rates or bundled with comprehensive insurance with free AOG. Shop around also for quality but affordable insurance (Prudential, Malayan, Republic etc.). Then after that if you have a desired make and model then go around the dealers near your area and find the best deals and discounts. This way you done your homework, learned the process of buying brand new cars and saved some cash for fuel and preventive maintenance.

By the way don't trust your SA 100% unless you personally know him, he is a good friend, girlfriend or relative or had put his promise in writing.

just my 2 centavos. good luck!

**mscert** · October 10th, 2013 01:34 PM

Stay away from in-house financing. If you want an auto-debit to your payroll apply a car loan to the bank where your company payroll is. Ask your company for a certificate of employment with salary and all the monetary benefits 13th, 14th, 15th months and allowances. The bank will generate the bank statement of your account the catch here is do you retain/maintain CASH to your payroll account. Usually people transfer funds from their payroll, since payroll account does not require a maintaining balance. If you will have your loan in a bank aside from the Down Payment, you will pay for other expenses like Mortgage, Insurance, LTO registration (usually free from the dealer), CTPL, first monthly amortization if OMA. After all this consider the monthly expenses such as monthly amortization, gas, parking fee, maintenance. Having a car is convenience with a cost. The most convenient option is the one suggested by Manilablock. Good Luck TS.

**E26M** · October 18th, 2013 12:32 AM

Thank you for all the inputs sir, sobrang laki ng tulong nyo Finally, we're approved by PS bank thru my brother. may CMAP kc ako kaya pla di ma approve. Ask ko po yung reservation fee sa toyota matagal po ba? We will no longer go with that dealer kc and gusto ko na po kunin, sabi sakin by check daw ang release and medyo matagal please advise po mga masters thank you. ganun po ba yung process nila? TIA

**seankenzi** · September 27th, 2014 07:12 AM

guys how about yung TFS ng Toyota? Does it also go through the same approval process that the bank does? Do they also have access sa CMAP?

**yobma** · September 27th, 2014 08:59 AM

Originally Posted by seankenzi

guys how about yung TFS ng Toyota? Does it also go through the same approval process that the bank does? Do they also have access sa CMAP?

yes bro... all in house financing requires the same documentation and procedure as would banks do.

**shadow** · September 27th, 2014 09:52 AM

Generally in house financing is easier, agents can even provide documents that you don't have. They can provide like let's say ITR.

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