consequences when surrendering a 5-month old mazda 3 to the bank

**emms1121** · October 1st, 2009 06:42 PM

Bro busted na ba talaga computer box? Basta hindi pa naiistart yan malaki pa pagasa marevive computer box..

**Altis6453** · October 1st, 2009 06:54 PM

Originally Posted by kcvega

alam na nilang nabaha e. itinawag kase namin agad expecting na covered ng insurance ung acts of god. unfortunately, hindi. nagtanong-tanong ako kung magkano ang magagastos pag pinagawa, more than 100k daw... kase ang computer box palang nasa 50k na...

I don't expect the bank to let you off lightly. As Galactus said, the bank will still recover the difference of the remaining value of your flood-damaged car and the amount of the PN, that is if no additional penalties are imposed.

Ultimately, you may be better off just having the car repaired, sell it and settle with the bank.

**renzo_d10** · October 1st, 2009 07:28 PM

Unfortunately for the TS, he couldn't afford having the car repaired. From what he said, he lost his work and he's still paying for a van. And the repair costs 100 freaking thousand pesos!

That's a lot of money to spend. :speechles

**tidus1203** · October 1st, 2009 07:41 PM

Wala kung di talaga kayang irepair wala na but to default na lang... Ano pa ba magagawa mo at ng bangko?

Di naman sa nagiging pakialamero but I have this sense that the TS also lived beyond his means. I mean he is supporting 2 cars under loan na 5 years pa tapos pag nawalan ng trabaho yari na... Ako naman ay hindi isang malupit na tao na tinitira pa ang nasalantaan ni Ondoy pero at least I hope it becomes a lesson of the importance of being frugal. Always works!

**boi_silip** · October 1st, 2009 07:54 PM

bro, advice ko sayo para hindi ka mahirapan. magbenta ka ng iba mong properties. hirap kaya ma-block list sa bangko kase in times na klanganin mo sila wala ka ng magagawa.

tapos ang mga problema mo...

isang lote lang ni itay yan, tapos ang mga panggamba mo..

**Lucius** · October 1st, 2009 07:56 PM

Originally Posted by tidus1203

Wala kung di talaga kayang irepair wala na but to default na lang... Ano pa ba magagawa mo at ng bangko?

Di naman sa nagiging pakialamero but I have this sense that the TS also lived beyond his means. I mean he is supporting 2 cars under loan na 5 years pa tapos pag nawalan ng trabaho yari na... Ako naman ay hindi isang malupit na tao na tinitira pa ang nasalantaan ni Ondoy pero at least I hope it becomes a lesson of the importance of being frugal. Always works!

I agree. Bakit nga ba you have 2 vehicles pa, both mortgaged? Wish mo di pa alam ng bank na nabaha. Sana di pa nakwekwento ng agent mo sa casa

**1D4LV** · October 1st, 2009 09:00 PM

i think blaming the TS now is late. it will not help. the reason why he posted here is to ask for advice, not to be blamed. i understand his situation but i cannot offer any clear solution because i have not experienced it.

what i suggest is to talk to your account officer for options. and work for a win-win scenario. kung kailangan bayaran yung difference as what galactus said, i settle mo na lang kung yung ang best way, even if yung settlement ng difference is kailangang hulugan, then so be it. it would be better instead of having your check payments stopped or having your checks bounce, which is a more serious case.

selling properties specially the family house is not advised. mas priority mo dapat ang bahay kesa sa oto.

by talking with your account officer, at least transparent ka sa situation mo and they will not be expecting too much from you. most bank account officers naman are easy to talk too and are very friendly.

kung BDO yung bank mo, probably MazingerZ can help you on how to deal with this situation. very nice guy.

**1D4LV** · October 1st, 2009 09:42 PM

you may also want to look option #7:

http://www.abs-cbnnews.com/lifestyle...maged-vehicles

or get an idea what fireblade said here:

http://tsikot.yehey.com/forums/showt...t=63374&page=9. To quote fireblade:
Allow me to share with you my conversation with a service manager who happens to be close to me. Monday morning, they accepted 60 units and they dont know what to do with it. Told him to outsource detailing but all detailers from outside are fully booked. Told him to get OJT from Don Bosco Technical but ubos na rin. They have the parts but it wont be enough to service everyone. Their projection for fast moving parts and consumables can be managed but the problem would be ECUs and stereos. Even their head office do not have enough supply as we are talking here of hundred of units. They can not commit when you can get the unit and customers have started to bribe service advisors for faster repair to no avail. Also, I have been offered left and right flood damaged units but I can not possibly re sell this knowing that it has a problem. I can have a windfall of profit but there is such as thing as karma. I know Pamcor lost hundred of units in their Cainta plant and so goes for Wheels along E Rod. Dozens of units were severely affected. Also, there are those who just purchased their units through bank financing this 09 and they will just surrender the cars to the banks as is. A friend of mine who works for a bank is worried that they will be swamped with surrendered units as loans will be written off provided that you submit the units voluntarily.

This will all change the environment for car trading. One, you are not sure anymore of the unit that you will be getting. Usual biddings for repossessed units are now dangerous. I know PS Bank has a warehouse down East and it was affected. BDO units were also damaged in Balintawak.

Be very conscious when purchasing a vehicle and try your darn best to establish the history not only of the car but the owner.

**senna** · October 1st, 2009 09:47 PM

Wag mo declare na nabaha yung car. Hanap ka ng lumang truck, ipabangga mo sa car mo, dapat total wreck. Then report mo na hit and run while parked (claim that you were somewhere in unflooded area QC or somewhere in Metro when it happened; di ka na kasi nakauwi dahil nga sa baha). Claim for damages sa insurance. Tapos ang problema mo. Very neat di ba?

**shadow** · October 1st, 2009 10:18 PM

problem is nasabi na ng TS sa bank na nalubog sa baha yun kotse. I really feel bad reading things like this.

wala akong mabigay na advice since hinde ko rin alam kung ano ang dapat gawin.

and I agree with1D4LV, yun lifetsyle ng TS is wala na tayong pakialam, I think kaya naman niya siguro dati i-sustain kaya kumuha siya ng 2 kotse. but problem arises, hinde lang naman sa kanya nangyari yan, bec of the world economic crunch eh marami talaga naapektuhan.

so huwag na natin ipagdiinan.