# Bank of Philippine Islands BPI



## 197649 (Jan 1, 2013)

I want to share my experience with this bank. In December we decided to buy a Chevy Trailblazer I put the 20% down and financed the rest though the dealer. Total borrowed 
1.375110.00 php The installments were 34144.00 php a month for 5 years. Well after 9 months I said hell with it pay it off now. Balance was 1,251,205.00 php when I got to the bank. There was interest on the 1.2m OK I understand that. Plus a 65,000.00 php fee for (doing their job) all said and done I paid 1,316,025.00 php 59085.00 php less than the total. The 140,138.71 PHP I paid on the principle was just thrown in the garbage. I will NEVER DEAL WITH BPI.
I will deal with PS Bank never had an issue with them in 5 years


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## M.C.A. (Feb 24, 2013)

Good thing you used a bank the dealer interest rate is something like 100% like many of the items sold her on credit. I have thought about getting a loan from the bank also for a newer vehicle but so far I like the fact my old car is paid off.


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## DonAndAbby (Jan 7, 2013)

c_acton98 said:


> I want to share my experience with this bank. In December we decided to buy a Chevy Trailblazer I put the 20% down and financed the rest though the dealer. Total borrowed
> 1.375110.00 php The installments were 34144.00 php a month for 5 years. Well after 9 months I said hell with it pay it off now. Balance was 1,251,205.00 php when I got to the bank. There was interest on the 1.2m OK I understand that. Plus a 65,000.00 php fee for (doing their job) all said and done I paid 1,316,025.00 php 59085.00 php less than the total. The 140,138.71 PHP I paid on the principle was just thrown in the garbage. I will NEVER DEAL WITH BPI.
> I will deal with PS Bank never had an issue with them in 5 years


Sounds like an early termination fee.

You said you financed through the dealer. BPI was the dealer's bank? I'm curious because I may be shopping for a car and a loan soon.. It will be good to go in with my eyes wide open!

How do you like the Trailblazer? Do they have a diesel?

I am very happy with my banking at BPI, but I have not gotten any loans.


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## overmyer (Aug 15, 2013)

DonAndAbby said:


> Sounds like an early termination fee.
> 
> You said you financed through the dealer. BPI was the dealer's bank? I'm curious because I may be shopping for a car and a loan soon.. It will be good to go in with my eyes wide open!
> 
> ...


Best to talk to the loan officer at your bank before talking to a dealer. The bank can often negotiate a better deal for tge car you want but once you've contacted the dealer are prohibited from altering the "pre-arranged" loan terms advertized by that dealer.


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## overmyer (Aug 15, 2013)

overmyer said:


> Best to talk to the loan officer at your bank before talking to a dealer. The bank can often negotiate a better deal for tge car you want but once you've contacted the dealer are prohibited from altering the "pre-arranged" loan terms advertized by that dealer.


I meant to aay, made any verbal commitment to purchase. Fine to say your just looking and get info. See your banker after without committing!


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