
Originally Posted by
rna800
*-JAYARKIN-: Mas makakamura ka talaga pag bank loan as compared to in-house financing since the interest in a bank is lower. Ang problem nga lang is you are not priority so if you are in a hurry to get a unit, you have to wait a bit. The challenge also is if you haven't build up your reputation with the bank, mas mahirap makakuha ng approval. As compared to in-house, andali lang makakuha ng approval and priority ka nila.
Take mine for example but my unit is a Super Grandia that I bought 2 months ago. Unit price is 1.980. My condition is 50% DP & 1 yr to pay. Otis gave me the best offer among the other dealerships that I asked. Then I showed the quote to my bank, they gave me a lower monthly but their insurance is higher so I took Otis' insurance. Hindi ko lang alam ang exact interest but this is how mine looks like:
1,980,000 - Unit Price
(10,000) - Discount
-----------
1,970,000
985,000 - 50% DP
38,xxx - Insurance (Otis)
-------
1,023,xxx - Total amount payable
985,000 - Amount to be financed (12 months)
My monthly amortization with my bank is P87,xxx for 12 months. The chattel mortgage is with them too. Otis' offer was about 88k+, about 1,500 more so sayang din yung 12+k peso savings that I could get if via bank loan.
Now put them all together:
1,046,400 - 87,200 (rounded off) x 12- monthly amort
1,023,xxx - Total cash out
----------
2,069,xxx - Total Amount Paid after 12 months.
1,970,000
---------
99,xxx - Difference
So if I were you, get quotes first from dealerships then talk to the bank of your choice so you could get the best deal.
Since Commuter ang kukunin mo and 5 yrs to pay, siguro nasa +300k to 350k yan, my guestimate.
If you want I could refer you to my agent in Otis para lang bigyan ka niya ng quote.