Looking for a cheaper way to get a new car? Banks in the Philippines are offering repossessed cars for sale. You can now take a look at the updated list of used cars for sale from banks.
What is a Repossessed Car?
It is a vehicle that the bank acquired when the borrower was not able to pay for it. Banks that offer auto loans can repossess the car from the owner in the event that he or she is no longer able to pay for it.
Read: Easy Bank Loan Application Online
Advantage of Buying Repossessed Cars
Repossessed cars of banks have undergone quality check. You can be assured that they have made their part to make the car usable for the next owner. Most of the time, these cars are also priced way below its current market price.
Bank Repossessed Cars List
Choose the bank where you wish to buy a repossessed car from. Most of these vehicles come from their auto loan programs where clients have failed to fully pay their cars.
List of second hand cars from banks in the Philippines
BDO
The repossessed cars of BDO includes a wide variety of cars and vehicles. You can search based on model, year and manufacturer. You also have the option to choose based on brand and the price rate. See the updated list of BDO repossessed cars today.
East West Bank
The repossessed cars from Eastwest bank are for sale in good condition. You can choose among the list of vehicles ready for sale. You can choose from different models and years depending on the location.
See the latest list of repossessed cars from East West bank.
PSBank
Pre owned cars from PSbank can now be viewed for your convenience. Make sure to select the year and model of your choice to start seeing the list. You may also select based on brand especially if this is your first car.
See the list of repossessed cars from PSbank today.
Security Bank
Used cars from Security Bank are among the most sought after among car buyers. The good news is you can easily avail any of these repossessed cars from Security Bank by choosing the model and year of your choice.
Selling price can range from Php 280,000 to Php 500,000 and above depending on the model.
Requirements in Buying
The usual requirements of a bank involves your capacity to pay. In some cases, the same documents and requirements are provided as with applying for a loan if you are not paying in cash. They may include but not limited to:
Proof of capacity to pay
Valid IDs
Accomplished purchase form
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