assume balance

[kantoboy]

Ey, newbie here, need advice:

I'm interested in a 2006 used car that someone is offering on an assumed balance basis. There is 27 months left to pay at 28k per month. However the person is asking for 220k in addition to assuming the balance. I dont think 220k is reasonable considering it now costs more then a brand new one, how much should I ask for?

Also is it possible to renegotiate with the bank the terms?

[tr1ck5h07]

what car is this? and what's the normal retail price?

you can request a quotation from the casa for the car and then compute for the depreciation. with this info, you can negotiate with the seller on the price.

[wildthing]

talo ka...kasi by the time matapos yun magiging P976,000 na!

Eh di bumili ka na lang ng brandnew...tapos yung P220k na hinihingi e ipang down payment mo.

[2Dmax]

talo ka...kasi by the time matapos yun magiging P976,000 na!

Eh di bumili ka na lang ng brandnew...tapos yung P220k na hinihingi e ipang down payment mo.

that's aboslutely correct. bka maya may sira na rin pala ung binebenta sa 'yo. also sa bnew panalo ka talaga dahil sigurado ka sa quality and also kapag benenta mo na mas ok ang resale value dahil original owner ka..

[1D4LV]

sobra naman yun...

756000 + 220000 = 976000.

anong oto yun? BMW, an SUV o the new civic?

[Mguy]

Remember, in assuming balance, you're also assuming the interest due on the loan.

Compute for a car loan for the same car and the same terms. Whatever the difference, yun lang ang matitipid mo.

[jaren999]

Hi, as a buyer, ano-anong paperworks dapat ang makuha ko para maging walang problema pag ako nagtuloy ng hulog sa oto lalo na pag natapos na yung terms? Thanks in advance