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  1. Join Date
    Jul 2010
    Posts
    76
    #1
    Guys.. Need your help... Im migrating soon to Canada and planning to sell/transfer the mortgage of my Mazda 3 under
    "assumption of mortgage" to those who are interested... Just want to know if di na ako lugi kung kunin ko na lang yung na down payment ko worth 120,000ph. Although, risk is involve since the buyer will just continue the payment still under my name...

    Any legal advise or work around sa ganitong transaction? Appreciate the help...

    Here are the details.

    Car Model : Mazda 3 (black)
    Year : 2010
    Contract : 5 years (60 months)
    Monthly Amort.: 18,225ph
    Payments made : 17
    Remaining : 43 payments

  2. Join Date
    Apr 2008
    Posts
    15
    #2
    Sorry, sorry for my point of view and opinion:

    1. Lugi ang bibili, hindi ikaw. One can get P28,000 dp for a brand new mazda w/ P19,000 MA. Technically, the monthly ammortization that you paid covers for depreciation value and being a second hand.

    2. Delikado po yan kasi once the buyer defaults the payment, ikaw pa din ang hahabulin hindi siya. Bank won't recognized your transaction unless someone will pay upfront on your behalf then re finance na lang, yun po ay kung willing mag abono ang bibili at me pera.

    Suggestion ko lang although medyo lugi ka, sa reseller mo benta. Kaya nila bayaran yun bank ng buo, yun nga lang, I think malaki na ang P50,000 na makukuha mo sa kanila. Next suggestion is, pasa mo na lang sa kamag anak.

Selling/Transfer of Mortgage Mazda 3