all about car loans

DI10

what's the best bank to apply for a car loan?
how long is the process before it gets approved?

asy0000

just got a car loan from chinabank.... add on interest of less than 25% for 4 years.
siguro it would depend kung san ka depositor.
The bank tends to give less interest to their depositor, lalo na kung malaki yung average daily balance mo.

for the process, some banks say 1 day approval process.
for mine, it took 2 days, probably because hapon na ko nag submit ng requirements.

marco_1

try BPI or Orix Metro Leasing

ymessenger359am

i inquired sa BPI regarding their requirements:

at least 40k / mo salary
2nd hand cars must be less than 5 years old
65% of appraisal of the car 'yung mal-loan


panu kaya yun, i've only been working for just over 2 years, still haven't reached 40k / mo. salary. is there a bank with lesser requirements?

asy0000

^ around 680k yung loan amount.

asy0000

^ 680 at 25% for 4 years... add on lang yun 25%. so total of 1.25 * 680k = 850K for 4 years. divide by 48, so around 17.5k a month.

asy0000

haven't really ask the bank that one... pero sa ibang loan ko dati, kung i payoff mo na, mababawasan din yung interest. Kung bayaran mo after 1 year, yung remaining 3 years hinde na mag earn ng interest... principal amount na lang yung babayad mo dun... around 537k siguro yung remaining principal amount after 1 year.

DI10

got a loan sa PSBANK 19 percent for 3 years... roughly 6.3% per year... total amount financed is 366,000.

bilis din... after ng walang humpay na pagtawag nila for one whole day (laging me kulang tinatanong nung empleyado nila)next day umaga tinawagan na ako na approved na daw.

i'll be getting my first brand new car this sat.

ayos!

asy0000

congrats with your new car.... anong car yung ni loan mo?

pretenred1

sir^ ano ba requirements nila sa sa psbank?
so tama pla yung nasa commercial na one day lang ang processing ng sa kanila
tsaka magkano downpayment mo and ano car binili mo?
thanks

DI10

getz 1.1 m/t

the usual... di nila sasabihin pero lam ko may minimum yung monthly net income mo.
plus - certificate of employment
ITR
2 Primary ID
Latest Payslip
tapos sa application for you have to list down lahat ng assets and liabilities mo
then 3 personal references na talagang tatawagan nila at bubusisiin

______
SRP - 488,000 PHP


down ako ng 25% - 122000
plus chattel mortgage - 11500 (putik ang mahal)
plus insurance - 4500 (18k but 4 gives)
one month advance - 12114 (this is needed for a slightly lower rate)
_________

total cash out ko is 150,114 PHP.

1.1 getz m/t

was given free: tint, matting, seatcover (standard)
free 3 years LTO reg
free keyless entry with alarm

12114 per month for the next 35 months.

not bad got 6 percent per year (18.xx %) financing for 3 years.

nudecrocodile

DI10 wrote: »

got a loan sa PSBANK 19 percent for 3 years... roughly 6.3% per year... total amount financed is 366,000.

bilis din... after ng walang humpay na pagtawag nila for one whole day (laging me kulang tinatanong nung empleyado nila)next day umaga tinawagan na ako na approved na daw.

i'll be getting my first brand new car this sat.

ayos!

I have got car loan decision within 4 hours at PSBank. This is the best bank for me when it comes to loans.

kapitan88

pwede kaya ito sa 5years? 5yrs na ang max nila?

DI10

pwede yan 5 yrs... basta ba qualified ka para sa kanila... minimum down 20 percent ng kotse...make sure you allot mga 40k extra kasi kailangan yun sa mga insurance, lto na 3 years, chattel mortgage, rustproofing, at kung ano pang miscellaneous na anik anik. swerte mo pag binigay ng dealer mo yung iba sa freebie.

pretenred1

what is the minimum salary to be qualified sa psbank auto loan?

xdh606

try to look at this site CLICK HERE ... may auto loans and Car For Sale pa..

ymessenger359am

1.1 lang pala 'yung engine ng getz. tipid!

ymessenger359am

1.1 lang pala 'yung engine ng getz. tipid!

ymessenger359am

1.1 lang pala 'yung engine ng getz. tipid!

si_ako

i have a question, no idea at all kase. diba yung mga dealers they provide info regarding monthly amortization and 30% downpayment usually. ano mas ok go to the bank directly to apply for a car loan or yung dealer na bahala sa lahat? thanks

the_BuGs

PSBANK ang maganda talaga sa pagdating sa Car Loan... at maganda rin bumili ng 2nd hand repocessed cars sa kanila