Car loan approved sa bank, denied sa casa

[Aquaman123]

I applied for a car loan sa BDO at Union Bank. I submitted all the required documents and after 3 days approved naman. Unfortunately, after more than a month of waiting, dahil daw sa mahaba ang pila sa pagkuha ng unit, nabawasan ko ang pang DP ko. So I tried in-house financing kasi may promo sila low DP na 'all-in' at maraming mga freebies. Pero after 1 week my car loan was denied Akala ko po mas madali ma approve sa casa kaysa sa bangko, di pala.

Mga sirs bakit po kaya denied sa casa pero approved sa bangko? Ano po sa palagay nyo ang reason bakit ako denied sa in-house financing? Any advice?

[_Qwerty_]

baka kulang pa sa credit history..

[Aquaman123]

car loan sa BDO at Union Bank?

Yes sir, BDO po ang napili ko kasi sila po ang mas mababa ang interest 23.11% for 48mons. Actually, nag PO na po sila pero pina cancel ko.

[Altis6453]

I applied for a car loan sa BDO at Union Bank. I submitted all the required documents and after 3 days approved naman. Unfortunately, after more than a month of waiting, dahil daw sa mahaba ang pila sa pagkuha ng unit, nabawasan ko ang pang DP ko. So I tried in-house financing kasi may promo sila low DP na 'all-in' at maraming mga freebies. Pero after 1 week my car loan was denied Akala ko po mas madali ma approve sa casa kaysa sa bangko, di pala.

Mga sirs bakit po kaya denied sa casa pero approved sa bangko? Ano po sa palagay nyo ang reason bakit ako denied sa in-house financing? Any advice?

No relation ang approval ng bangko mo sa disapproval ng in-house financing. It could be that they didn't like your credit history and that's all there is to it.

[Aquaman123]

No relation ang approval ng bangko mo sa disapproval ng in-house financing. It could be that they didn't like your credit history and that's all there is to it.

Sir this is my first time to apply for a car loan. Ok naman daw po ang credit history ko ayon kay BDO at Union bank.

How about kung mag try ako sa ibang dealer, same outcome din kaya?

[Altis6453]

Sir this is my first time to apply for a car loan. Ok naman daw po ang credit history ko ayon kay BDO at Union bank.

How about kung mag try ako sa ibang dealer, same outcome din kaya?

It would be better if you ask them in writing why your application was denied. And the results may be different for another car dealer. Remember, its not their core business to provide financing for car purchases.

[Aquaman123]

It would be better if you ask them in writing why your application was denied. And the results may be different for another car dealer. Remember, its not their core business to provide financing for car purchases.

Thanks for the advice. Medyo nabuhan ako ng loob. Thanks ulit

[tidus1203]

Normally its on the fine print and they say that they don't need to explain why you were denied the loan. So don't hold your breath for an explanation...

BDO is different from the CASA so they don't have the same standards or see things differently...