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Getting credit for a car


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Monsoon

That's not bad, although my bank in USA offers less than 1%. I've seen new Honda motorcycles that work out to about 30%. Many Filipinos just can't come up with cash up front so they have to take it. I've known some that make weekly and a few even daily payments.

 

Yea they really know how to screw people over in this country. My old driver had a loan on his motorcycle. I saw the poor bastard struggling with the payments every month and the interest was something crazy so I was going to pay it off for him and let him pay be back interest free via salary deduction. Then he told me he had to pay the same amount regardless of whether he paid it off early or not. That shit should be criminal. 

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Watch out for flood damaged cars ! 

 

Yeah I had a mate stung by a flood damaged Starex (from Davao I recall).

 

Was not too old but after he got it never ending repair jobs.

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Some common misconceptions in this thread.

 

16 valve? That would mean it would have to be a 4 cylinder, I've never seen a 4 cylinder in a multicab here, although I am led to believe they have them in Australia.

 

VERY few frames are cut in this day and age, and never to my knowledge on Vans. They cut the top and side from vans to ship, not the frame (stack them). Some companies cut the frame on pickups to ship, some don't.

 

Most multicabs are 10-15 years old when imported.

 

Some loan companies charge 4% (that's per month!).

 

The dependability of a multicab is wholy dependent on who put it together amd what kind of job they did doing it. Some are very nicely done, others are crap.

when you cut the roof off any car or van it will fold in on it self unless its braced before its cut as the roof is a stressed part of the car/van if you have ever seen a car with its roof off the a/b/c/d pillars fold in and to but join this is very silly when a car or van is crashed the roof will fold back its ment to for the safety zone.

yes the multicabs have a chassis which is not cut but the passenger compartment is so the body strength is reduced that's why Honda complained about all the imported cars here eg Honda fit.

I would never buy a car/van that has but joins or the body cut in any way apart from a correct panel replacement

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stevensanph

Yea they really know how to screw people over in this country. My old driver had a loan on his motorcycle. I saw the poor bastard struggling with the payments every month and the interest was something crazy so I was going to pay it off for him and let him pay be back interest free via salary deduction. Then he told me he had to pay the same amount regardless of whether he paid it off early or not. That shit should be criminal. 

 

its the way 'inhouse financing' works here.

 

They tell you its a loan, but it isn't. 

 

Its basically a rental agreement, that says you agree to rent the vehicle for xx months @ xx,xxxpeso's.  There is then a clause that says should you complete all payments they will transfer the vehicle to you.

 

I found this out the hard way when I let my wife buy our car.  When I went to pay the whole thing off they told me I had to pay the full amount, including the interest anyway.  That's when I read the agreement she had signed...

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