Mga Pahina

Martes, Nobyembre 12, 2013

Why Private Cars Gets Higher Loanable Amount Compared to Taxi or Public Vehicles

Taxi Loan Compared to Private Car Loan
Owners of public vehicles or yellow plate cars end up getting a lower loanable amount and this is a fact. But very few vehicle owners would understand and comprehend with this issue. A client of mine a couple of days ago got to the office to apply for 500k loan for her Toyota Avanza 2012 taxi (yellow plate) with LTFRB franchise and guess what? The loanable amount was surprisingly very low at only 350k estimate loan proceeds gross compared to a previously approved private car loan using the same year model of Toyota Avanza 2012 which yielded more than as much as 420k.

The reason? It's so simple and easy to understand. According to my marketing manager, the influencing factor to a lower or higher loanable amount is the risk factor. A regularly traveling car (a public vehicle) poses much higher risk than a car that rarely gets out in the streets as a private vehicle with green plate. So basically, risk do play a big factor in determining the loanable amount of car loan upon application.

So the next time you opt in to apply for any lending company like banks (bank loan) or private lending company, make sure that you expect no less than getting lower loanable amount for a taxi than a private car, even if you have the same year model and same car make or brand, just like what I have posted above as an example. For personal loan comparison, please click here.

Walang komento:

Mag-post ng isang Komento

My Headlines