Bank definitely. The BPI Calculator normally uses a standard rate of 26 to 28%. You can still haggle for a lower one specially if you have a good relationship with the bank. Just imagine what you can do with that margin of 178k, That could have been a downpayment for another car or get into your savings. Plus, BPI normally gives out the Comprehensive Insurance for free if you have a loan of more than 500k. Chattel mortgage is also something you can try to negotiate with the bank.