So i received a response from my bank.

[qoute]

Please be advised that in case of pre-termination of your auto loan, you also need to settle the 1st year free insurance promo of your motor car insurance amounting to P42,398.89 and this will be added to your payoff amount.

[/qoute]

I need help guys. As in!

In this true? A free 1 year insurance may not be free upon early/pre-termination of the car loan?

So aside from 3% pre-termination fee, i have to pay the 1st year free insurance.

Thanks in advance.


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