Can Foreigenwre Get Auto Loan??

[Call me bubba]

The interest rates for in-house financing are outrageous. Beggars can't be choosers. Financing required me to provide two years worth of pre-dated checks and on the 10th of each month, a payment was made from my checking account. Process was pretty simple. Large deposit required. Large interest rate. Registration was made in the name of the dealership (shown as encumbered). Insurance needed to be obtained showing the encumbered condition.

After reading the above,, WHY would anyone want to have an RP AUTO LOAN ? either via bank or in house?

looks like ROBBERY.

[Curley]

The interest rates for in-house financing are outrageous. Beggars can't be choosers. Financing required me to provide two years worth of pre-dated checks and on the 10th of each month, a payment was made from my checking account. Process was pretty simple. Large deposit required. Large interest rate. Registration was made in the name of the dealership (shown as encumbered). Insurance needed to be obtained showing the encumbered condition.

After reading the above,, WHY would anyone want to have an RP AUTO LOAN ? either via bank or in house?

looks like ROBBERY.

I work on the premise that if I can't buy it for cash I can't have it. If second hand cars are expensive then so be it, if you buy second hand and use it while you save for a new one you'll still have some value when you come to sell it again.

[MikeeW]

Retirednlovinit, I hope you are fortunate and can find financing that suits your needs. I know that Tacloban has some new car dealerships. At least I've seen them during my few trips to there. I really don't think the bank you contacted is even aware of new car loans which have foreigners as cosigners. As well, I know for certain some new car dealers do have financing available. I can appreciate the comments of members who choose to pay cash. Your query was about the process of getting financing and experiences of others. Just be sure of the choice you make. For example, is there warranty service available? Good luck!