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State Trooper

The illogic of Filipino credit terms

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Headshot

Do you feel better now?  :cool:

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Monsoon

Go to a different dealer?

 

I've had no problem getting credit of all sorts in the Philippines.

 

But you are right, for the most part the credit terms here are not only illogical but horrible.

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Paul

So 12 years in the PHL, 11 of them on the Straight 13 Quota Permanent visa, have over 1000 sq mters and a twin home, own my car and make more every month than my neighbors do in 2 years but I cant get an installment loan on a 50K motorcycle in my name.

Ive bought refrigerators, Big screen TVs and a freezer on install at a local appliance store in my name. Always put my car in my name and have an extra lot of 200 sq mtrs in my name officially. Bought a motorcycle in Cebu on install back in 2006.

But local motorcycle dealer in Bayugan doesn’t want to install me a loan because “ I might leave the country at any time”. Ya, and leave my investments and my 4 kids behind….

 

Neighbors can easily get installment, they have NO JOBS, DON’T OWN THEIR LOT and are squatters and every year get a new motorcycle and after 5 months get it repossessed

 

Now the dealer wants me to put the motor in the name of a Filipino..Ok so then when its involved in an accident, it’s the owner who will pay RIGHT?...Hey its not mine..!

 

Head up their ASS.

 

Amazin', ain't it? Same in all of SE Asia, it seems. I tried to get a motorbike ages ago, here, on an installment basis. Basically, they required the same. I said, I will keep using public transportation, then. 

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State Trooper

Do you feel better now?  :cool:

NOT YET but thanks for reading and understanding

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Headshot

Yeah, sometimes it helps to just get stuff off your chest. I use that as therapy when I'm driving. It doesn't change the way the idiots drive, but I feel better after I get out my frustrations. My wife asks me why I talk to other drivers when our windows are up and the other drivers can't hear me. Well, that is why. I get to tell them off without getting into a fight or getting arrested for abusing a Filipino.

Edited by Headshot
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liquido

Can I ask the interest rate?

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contraman

Can I ask the interest rate?

No Loan = No Interest :idontknow:

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jtmwatchbiz

Yeah, sometimes it helps to just get stuff off your chest. I use that as therapy when I'm driving. It doesn't change the way the idiots drive, but I feel better after I get out my frustrations. My wife asks me why I talk to other drivers when our windows are up and the other drivers can't hear me. Well, that is why. I get to tell them off without getting into a fight or getting arrested for abusing a Filipino.

 

 

not only do i do the same thing, but sometimes i wind up arguing with myself while driving.  "that was stupid...why did you take this route when you know it's going to be a hassle". :) 

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A_Simple_Man

 

 

Now the dealer wants me to put the motor in the name of a Filipino.

 

I went through the same thing and I tried many different dealers with the same result.  Its frustrating.  Especially when they said:  "Why don't you want to complete the deal?  Its almost all approved as soon as you get a co-signer."  and it turns out that we just have to give any filipino a "small gift" and they will put it in their name, but my filipina live i partner does not qualify as we are not married (and no one gets a "gift" if they do that).  So that Is why I have a Rusi that is paid for instead of Honda that is financed.

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RogerDuMond

 

 

if the money isn't there then i ain't getting it. keeps me focused and working.

 

You could always borrow from your wife, unless the interest is too high.

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Paul

You could always borrow from your wife, unless the interest is too high.

 

His credit is no good with Janice. :D

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jtmwatchbiz

You could always borrow from your wife, unless the interest is too high.

 

 

unfortunately when i ask she has zero interest :)

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Enuff

You could always borrow from your wife, unless the interest is too high.

she gave him a book for Christmas called "skydiving without a parachute"
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