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| Advertisement ID | : | 738128 |
| Ads Classification | : | Offered |
| Location | : | Metro Manila |
| Address | : | Tower 2, Pioneer Highland Condo, Pioneer St corner Madison, Mandaluyong City |
| (A) ACCEPT CAR LOAN & BANK FINANCING OF YOUR SECOND HAND & NEW VEHICLES – as low as 7% - 12.50% per annum only!!! |
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REQUIREMENTS FOR APPLICANT LIVING IN THE PHILIPPINES: |
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| 1. TWO IDs ISSUED BY THE GOVERNMENT (PASSPORT, PROF LICENSE, SSS ID, DRIVER’S LICENSE, ETC.) 2. PROOF OF BILLING ADDRESS (PHONE BILLS, MERALCO BILLS & OTHER BILLS BEARING YOUR RESIDENCE ADDRESS) 3. FOR EMPLOYEES · Employment Certificate · Payslip for 6 months · ITR FOR BUSINESS OWNERS · DTI BUSINESS REGISTRATION · Bank Statement ( recent 6 months) · ITR and FS FOR CORPORATIONS · Articles of Incorporation · SEC Registration · Bank Statement ( recent 6 months) · ITR and FS 4. BANK STATEMENT IS OPTIONAL BUT WILL HELP IN THE APPROVAL
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| (B) REQUIREMENTS FOR OFWs |
| 1) EMPLOYMENT CONTRACT 2) RECENT REMITTANCE SLIPS 3) TWO IDs ISSUED BY THE GOVERNMENT 4) BANK STATEMENT ; NOT REQUIRED BUT MAY HELP 5) CO-MAKER RESIDING IN THE PHILIPPINES. CAN BE A WIFE, RELATIVE OR FRIEND WHO IS WILLING TO REPRESENT HIM. MUST SUBMIT THE DOCUMENTS MENTIONED IN BOX (A).
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| PROCEDURES EXPLAINED |
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WHAT IS INITIAL APPROVAL FOR?
When you’re looking to buy a vehicle through financing or loan, it doesn’t follow that you first have to pick a vehicle before you can be initially approved by a bank or financing institution.
You can always submit first the documents needed for initial approval. Though approved, you’re not obliged to purchase a car. Having an initial approval is advantageous on your part because once you finally made your choice on what vehicle to buy; you can quickly get the automobile without the pain waiting for initial approval as you’re already approved. Sometimes when you submit the documents for initial approval, it would end up with having your papers approved but loosing the vehicle of your choice. Someone could have bought it while your documents are pending approval for financing.
Hence, it is always adavantageous to get your documents approved though you haven’t made up your mind yet. At least your papers are ready to go the moment you made your decision.
PROCEDURES IN CAR LOAN FINANCING:
Assuming you have already picked the vehicle to purchase through financing, I would tell you what’s gonna happen next:
A. Submit documents required. Once the bank found that all the pieces of information written are correct, it shall initially approve your application for car loan or financing; B. The bank shall appraise the vehicle you’re going to purchase; C. You shall pay the bank a mortgage fee of about Php 3,000 or so. D. You shall pay the car seller the required down payment that is usually 30% to 40% of the appraised selling value. E. The vehicle’s registration shall now be transferred to your name. F. However since you’re getting a car loan, the bank requires that you get a comprehensive insurance that usually ranges from php 10,000 to 14,000 insuring your vehicle against ALL risks; G. You can now take the vehicle with you. You shall now issue PDCs to the bank in equal monthly installments for a term of your choice. H. The bank shall issue after a week or two a check in favor of the seller as full payment for the vehicle you purchased. |
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CALL FOR APPOINTMENT | 7193703 4096546 |
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VISIT MY CAR WEBSITE | www.metrosale.net |
| Posted by | : | roseberry |
| Date Posted | : | September 26, 2008 03:24AM |
| Feedback | : | 100.00% [ 2 positive  | 0 negative  ] |
| Address | : | Plymouth Road, Great Neck New York , / Tower 2, Pioneer Highland Condo, Metro Manila - Mandaluyong City |
| Contact No(s). | : | 7193703 (Telefax) and 4096546 (Bayantel Wireless), 09063023222 |
| Look For | : | Jen |
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