LTO car registration and late registration fees

[papi smith]

Enjoy your fully paid car

Yan ang maganda sa car loan, you enjoy the car immediately, by the time na fully paid na sya, time to loan for another car to enjoy again [emoji16]

[shadow]

Yan ang maganda sa car loan, you enjoy the car immediately, by the time na fully paid na sya, time to loan for another car to enjoy again [emoji16]

Vicious cycle.


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[papi smith]

Vicious cycle.


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Yeah, people are so eager to pay off their loans so they can make another one. Banks are so eager to grant their wish [emoji23]

[Dr.Kamiya]

One of the wealthiest people I know actually likes buying second hand cars.
"Hate paying for depreciation and taxes."

He wasn't against loans though, but specifically does not use auto loans. He'd instead take a business loan and then buy the car as a business expense.
If the yield of investments outpaces the interest rate of the loan, you'd end up ahead. Hard to do with an auto loan, easy to do with a business loan.

[dr. d]

One of the wealthiest people I know actually likes buying second hand cars.
"Hate paying for depreciation and taxes."

He wasn't against loans though, but specifically does not use auto loans. He'd instead take a business loan and then buy the car as a business expense.
If the yield of investments outpaces the interest rate of the loan, you'd end up ahead. Hard to do with an auto loan, easy to do with a business loan.

i'd buy my cars on installment, too,
that is,
if i know how to make my money work for me.
but because i don't know how...

[Dr.Kamiya]

i'd buy my cars on installment, too,
that is,
if i know how to make my money work for me.
but because i don't know how...

Disclaimer: I'm just regurgitating what I've heard about business vs auto loans.

Even unsecured business loans have about half the interest of auto loans, even lower if it's secured.
Let's say we're buying the LC300. With Toyota financing for 20% down and P4,597,600 financed it's P155,604/mo for a 36 month term, or 21.84% interest over three years or about 7.28% PA.



With BDO's SME loan, the same P4,597,600 is just P141,961/mo or 11.15% interest, or about 3.71% PA, a bit more than half the interest of the auto loan.



If we have a business earning the required P350k/mo to avail of the loan, then it's a no-brainer to take out a business loan instead and buy the LC300 as a company car.
As for the type of investment to out-earn the 3.71% PA, we'll have to consult again with the real experts.

[carxynogen]

Question sa mga nakapag renew na ng kanilang sasakyan via ltms portal.
Makukuha po ba natin yung original OR from LTO office?
Or sapat na tong soft copy ng OR na ma download natin from online?

Wala na kasing steps that instruct you to claim original OR after completed na yung payment sa car renewal.

[dr. d]

Question sa mga nakapag renew na ng kanilang sasakyan via ltms portal.
Makukuha po ba natin yung original OR from LTO office?
Or sapat na tong soft copy ng OR na ma download natin from online?

Wala na kasing steps that instruct you to claim original OR after completed na yung payment sa car renewal.

the past several years as per my experience,
they do not issue the original ORs as we remember them.
even the LTO issues only computer printouts on regular paper.

once or twice, i renewed via traditional face to face.
ganun rin ang OR na binigay sakin.

what we can do, is choose the size of the document for printing.
i shrunk mine, para kasya sa isang pahina ang OR and CR.

it would appear, such printouts are good for official transactions.

[JohnM]

Question sa mga nakapag renew na ng kanilang sasakyan via ltms portal.
Makukuha po ba natin yung original OR from LTO office?
Or sapat na tong soft copy ng OR na ma download natin from online?

Wala na kasing steps that instruct you to claim original OR after completed na yung payment sa car renewal.

Alam ko wala na. Same OR format din binigay sakin when I removed the encumbrance. For normal renewal since I went the PMVIC/LTMS route di na ako pumupunta ng LTO. I just print the PDF OR.

[yubby24]

Question sa mga nakapag renew na ng kanilang sasakyan via ltms portal.
Makukuha po ba natin yung original OR from LTO office?
Or sapat na tong soft copy ng OR na ma download natin from online?

Wala na kasing steps that instruct you to claim original OR after completed na yung payment sa car renewal.

Sa case ko nung nagparenew ako sa PMVIC, tinanong ako kung gusto ko raw nung old school OR o okay na sakin yung digital. Pinili ko na lang yung digital tapos ako na nagprint.