UCPB will buy my car PLS HELP!

**nickmar** · September 15th, 2013 02:01 PM

Hi po sa mga experts,

bibili kasi ng kotse ko ay manager ng UCPB car load nya ito.

hinihingan na nya kasi ako ng deed of sale na may pirma ko na at isusubmit nya daw sa main office then saka pa lang aasikasuhin yung cheke na iissue sa akin.

ang tanong po ay ayos lang ba ito at ganito ba talaga ang proseso pag bank ang bibili ng kotse ?

salamat po in advance

**boybi** · September 15th, 2013 02:20 PM

Dapat kaliwaan kayo. Pero kung kakilala mo naman yung bibili at alam mong hindi ka lolokohin, pwede siguro.

Or baka pwde din conditional deed of sale muna? Pwede din ba ito sa mga kotse? Sa lupa kasi ginagawa itong conditional deed of sale.

**shadow** · September 15th, 2013 02:50 PM

Dapat meron muna ng letter from bank na approve na loan nun manager and authorize na nila yun sale

Sent from my iPad using Tapatalk 2
#retzing

**[archie]** · September 15th, 2013 03:49 PM

Contract of sale muna. Receive ka ng down payment then pakita niya sa bank. Mahirap deed of sale kagad, wala ka Laban.

**Mguy** · September 15th, 2013 03:54 PM

Dapat may bank guarantee ka. Its a letter from the bank that the bank will guarantee payment up to a certain amount, once you had turned over the proper papers and naka registered ang car sa buyer.

Once you get the bank guarantee, call the bank to verify it na authentic.

**shadow** · September 15th, 2013 04:45 PM

Originally Posted by [archie]

Contract of sale muna. Receive ka ng down payment then pakita niya sa bank. Mahirap deed of sale kagad, wala ka Laban.

Walang down payment sa ganyan unless yun buyer mag labas...bago Bayaran ng bank yan dapat naka pangalan na sa manager

Sent from my iPad using Tapatalk 2
#retzing

**[archie]** · September 15th, 2013 04:50 PM

Originally Posted by shadow

Walang down payment sa ganyan unless yun buyer mag labas...bago Bayaran ng bank yan dapat naka pangalan na sa manager

Sent from my iPad using Tapatalk 2
#retzing

Ganon pala yun. My bad...

**boybi** · September 15th, 2013 05:33 PM

Originally Posted by shadow

Walang down payment sa ganyan unless yun buyer mag labas...bago Bayaran ng bank yan dapat naka pangalan na sa manager

Sent from my iPad using Tapatalk 2
#retzing

So kung brand new pala ang bibilhin ng manager, need nya maglabas ng sariling pera muna.

**makwin** · September 16th, 2013 05:35 PM

Originally Posted by boybi

So kung brand new pala ang bibilhin ng manager, need nya maglabas ng sariling pera muna.

Not necessarily. The typical procedure is:
1.) The Bank Officer will inform his employer (the Bank) that he wants to avail of his car plan benefit and he has chosen a brand new unit. e.g. a Mitsubishi Pajero from Diamond Motrors.

2.) The Bank will evaluate the officer’s entitlement and determine the current market value/appraised value of the subject vehicle. Subsquently, they will contact and discuss the price, terms, conditions, warranty clause, etc. with the automotive dealership. Once these requirements are satisfied – done deal , the Bank will now issue a Letter of Guarantee to the automotive dealership.

3.) Upon receipt of the Letter of Guarantee Diamond Motors will have the vehicle registered/transferred under the name of the BANK. (It will be under the name of the Bank until its Employee has fully served the car plan agreement)

4.) Upon submission of the original OR/CR already under the name of the Bank by the automotive dealership, the latter will be paid via Managers Check and the vehicle will be turned over to the Bank/Employee

AFAIK Cash Out of the officer will only take-place if he intends to purchase a vehicle which is higher than his car plan benefit entitlement. (e.g. car plan limit for a Manager is 800K pero yung bibilhin nya is worth 1M, this is called Equity or the difference of his ceiling vs. his acquisition )

Hi po sa mga experts,

bibili kasi ng kotse ko ay manager ng UCPB car load nya ito.

hinihingan na nya kasi ako ng deed of sale na may pirma ko na at isusubmit nya daw sa main office then saka pa lang aasikasuhin yung cheke na iissue sa akin.

ang tanong po ay ayos lang ba ito at ganito ba talaga ang proseso pag bank ang bibili ng kotse ?

salamat po in advance

I'm not an expert but i think that’s perfectly safe, you can prepare a deed of sale para ma process nila (UCPB) yung car plan approval nung officer and in turn bibigyan ka ng letter. A Letter of Guaranty becomes the Liability of the Bank once issued. It is an assurance on your part that you will get paid. Did the buyer ask you to register/transfer the vehicle under the Bank’s name? Depende kase sa usapan nyo yan kung seller (ikaw) ang magpapa transfer or yung buyer (Manager) and kung sino gagastos. Basta as long as you were issued a Letter of guaranty duly signed by the Banks’ authorized signatory, you’re secured.

**nickmar** · September 18th, 2013 04:59 PM

Originally Posted by makwin

Not necessarily. The typical procedure is:
1.) The Bank Officer will inform his employer (the Bank) that he wants to avail of his car plan benefit and he has chosen a brand new unit. e.g. a Mitsubishi Pajero from Diamond Motrors.

2.) The Bank will evaluate the officer’s entitlement and determine the current market value/appraised value of the subject vehicle. Subsquently, they will contact and discuss the price, terms, conditions, warranty clause, etc. with the automotive dealership. Once these requirements are satisfied – done deal , the Bank will now issue a Letter of Guarantee to the automotive dealership.

3.) Upon receipt of the Letter of Guarantee Diamond Motors will have the vehicle registered/transferred under the name of the BANK. (It will be under the name of the Bank until its Employee has fully served the car plan agreement)

4.) Upon submission of the original OR/CR already under the name of the Bank by the automotive dealership, the latter will be paid via Managers Check and the vehicle will be turned over to the Bank/Employee

AFAIK Cash Out of the officer will only take-place if he intends to purchase a vehicle which is higher than his car plan benefit entitlement. (e.g. car plan limit for a Manager is 800K pero yung bibilhin nya is worth 1M, this is called Equity or the difference of his ceiling vs. his acquisition )

Hi po sa mga experts,

bibili kasi ng kotse ko ay manager ng UCPB car load nya ito.

hinihingan na nya kasi ako ng deed of sale na may pirma ko na at isusubmit nya daw sa main office then saka pa lang aasikasuhin yung cheke na iissue sa akin.

ang tanong po ay ayos lang ba ito at ganito ba talaga ang proseso pag bank ang bibili ng kotse ?

salamat po in advance

I'm not an expert but i think that’s perfectly safe, you can prepare a deed of sale para ma process nila (UCPB) yung car plan approval nung officer and in turn bibigyan ka ng letter. A Letter of Guaranty becomes the Liability of the Bank once issued. It is an assurance on your part that you will get paid. Did the buyer ask you to register/transfer the vehicle under the Bank’s name? Depende kase sa usapan nyo yan kung seller (ikaw) ang magpapa transfer or yung buyer (Manager) and kung sino gagastos. Basta as long as you were issued a Letter of guaranty duly signed by the Banks’ authorized signatory, you’re secured.

ito po ang saktong sakto na process na ginagawa namin. maraming salamat po