My agent/financer office not registered in DTI and SEC

**SCM05** · November 29th, 2009 11:42 AM

Thanks for everyone for giving your friendly advice

Giving me bright idea saving me headache in the future and ofcourse saving a lots of bucks....

Happy sunday to everyone

**kihtmaine** · December 7th, 2009 12:51 AM

Hmmm that would be a "Fly by night" agents.

**_Qwerty_** · December 7th, 2009 10:30 AM

go straight to the dealership..

**mark_t** · December 17th, 2009 05:50 PM

Originally Posted by _Qwerty_

go straight to the dealership..

bank approval first then the dealership.

dealerships sell cars. That is how I would do it.

**Galactus** · December 17th, 2009 06:16 PM

Marami namang ganyan na so-called "free-lance agents." Most of them are not tied to a single car dealer, sometimes iba't-ibang car manufacturers ang hawak nila. They live purely through commission basis, at yung iba, kilala na ng mga banko.

I got my first car (1996 Sentra EX Saloon) via a free-lance agent. Kakilala ng dating agent din ng Nissan Commonwealth. Sinabi ko lang yung kotseng gusto ko (kasi pasok sa budget), and my preferred terms, tapos pinag-submit lang ako ng Certificate of Employment, siya na umasikaso ng lahat. In less than 3 days, approve na ko sa Union Bank. They even asked me kung gusto ko ng ibang kotse, Mazda 323, kasi kaya daw nilang ipa-approve yun. Kaso, mas mahal, so I stuck with my original choice.

**mark_t** · December 17th, 2009 05:45 PM

Originally Posted by kihtmaine

Hmmm that would be a "Fly by night" agents.

No such thing as 'fly by night" loan processors. The banks will have the money
and stay with them. From their account to the dealers account.

Banks have their own coded agents. ie relationship managers.

DTI registered financing institutions requires a minimum of 1 million php
capitalization plus some other requirements by the central bank.

Unless you have a big account to require your own offices to save on fuel cost
in getting to the bank then there is no point in setting up your own offices.

**kihtmaine** · December 17th, 2009 11:06 PM

^^I prefer that term. hehehehehehe..

Originally Posted by mark_t

No such thing as 'fly by night" loan processors. The banks will have the money
and stay with them. From their account to the dealers account.

Banks have their own coded agents. ie relationship managers.

DTI registered financing institutions requires a minimum of 1 million php
capitalization plus some other requirements by the central bank.

Unless you have a big account to require your own offices to save on fuel cost
in getting to the bank then there is no point in setting up your own offices.

He said on the topic agent/financer is not registered with dti and sec? What do you called that then? He did not also post any banks or loan processor like you posted.

**mark_t** · December 19th, 2009 12:40 AM

Originally Posted by kihtmaine

^^I prefer that term. hehehehehehe..

He said on the topic agent/financer is not registered with dti and sec? What do you called that then? He did not also post any banks or loan processor like you posted.

They are called "independent contractors", that is what they are
called in their contracts.

No such thing as "fly by night".

Check your contract.

Do you honestly believe that no bank is involved with these financing outfits?