EastWest Bank repossessed cars for sealed bidding on September 6, 2012

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I’ve been getting a lot of inquiries for bank repossessed cars lately which is why I’m posting this list from EastWest Bank. Actually, this is just the first batch of EastWest Bank repossessed cars for sale (more on this later). The cars on this list are for public auction through sealed bidding on September 6, 2012. Yup, that’s today already.

Sorry for the short notice folks, I just found this in my email inbox today. With that said, please checkout the complete list of repossessed cars for sale through sealed bidding along with the guidelines below.

east west bank repossessed cars for auction

Bidding Schedule

Viewing Schedule:Mondays to Fridays, 8:30am to 5:30pmSaturdays, by appointment
Deadline of Submission of Bids :September 6, 2012 at 4:00pm
Opening of Bids:September 6, 2012 at 4:30pm

EastWest Bank repossessed cars for sale on September 6, 2012

No.LocationModelPlate #ColorMileageMinimum Bid Price (PHP)
1Sanford 62011 BMW 320D 2.0 A/T Dsl.TIF-108Red23,2941,700,000.00
2Sanford 122012 Chevrolet Aveo LS 1.4L M/T GasTIX-566White4,353420,000.01
3Sanford 122012 Ford Escape XLS 4×2 2.3L A/T GasTIS-560Blue8,170690,000.00
4Sanford 32011 Ford Ranger 4×2 Trekker 2.5L M/T Dsl.PQH-347Blue12,636800,000.00
5Sanford 62006 Honda City 1.3S IDSI M/T GasZFD-243Bronze74,205300,000.00
6Sanford 122003 Honda CR-V Wagon A/T GasXGY-836Green88,392320,000.00
7Sanford 122012 Hyundai Elantra CVVT GL 1.6 A/T GasTIX-309White8,811650,000.00
8Sanford 122011 Hyundai Accent CVVT 1.4L M/T GasTNO-158Bronze31,772380,000.00
9Sanford 62011 Hyundai Accent CVVT 1.4L M/T Gasno plateWhite2,109460,000.00
10Sanford 62011 Hyundai Accent CRDI 1.5L M/T Dsl.PIN-589Black28,689450,000.00
11Sanford 62010 Hyundai Accent CRDI 1.5L M/T Dsl.PRO-399Silver24,971420,000.00
12Sanford 122011 Kia Rio LX 1.4 M/T GasTIP-472White23,002320,000.00
13Sanford 62011 Kia Rio LX 1.4 M/T Gasno plateWhite8,598350,000.00
14Sanford 32011 Mazda 2 1.5L A.T GasPIB-265Gray23,756450,000.00
15Sanford 32007 Mazda 3V 1.6L A/T GasZGP-587Gray67,435350,000.00
16Sanford 32012 Mitsubishi Adventure GLX 2.5L M/T Dsl.no plateWhite10,730650,000.00

Bidding Guidelines

1. Please make sure you have read and understood what is written in the bid form prior to submission.

2. A Php10,000.00 bid deposit per vehicle should be enclosed with the bid form.

  • Bid deposits may be in the form of Manager’s Check or personal check under the buyer’s account, payable to East West Bank.
  • AAD has the right to reject offers without bid deposits.
  • Bid deposits will be forfeited only if the bidder refused to purchase the vehicle that was awarded to him/her.

3. Bid forms should be sealed in an envelope and submitted to AAD at # 2264 Pasong Tamo Extension, Makati City.

  • Unsealed envelops, e-mailed or faxed offer sheets shall not be accepted.
  • No offers below the minimum bid price shall be accepted.
  • Please use the correct bid form.

4. Please follow the bidding schedule indicated.

5. The buyer shall be given two (2) working days from date of notice to pay for the vehicle. For buyers purchasing via financing, a 15-day grace period shall be given to the buyer and bank officers to issue an ATD for in-bank financing.

6. An additional Php400.00 shall be charged from the winning bidders as notarial fee

>>> Click here to download the bid form

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Warehouse addresses*

  • SANFORD: Warehouse No. 6 Sanford Compound, Km. 14 Edison Avenue, Parañaque

Tip: When inspecting repossessed cars, always have your trusted mechanic with you. You may start the car(s) but no test-driving is allowed.

For more information

Please call EastWest bank directly through the following:

Acquired Assets Division

  • 02-464-2550
  • 02-464-2547
  • 02-464-2439
  • 0999-885-3060
  • 0917-249-8026

Look for:

  • Ezra, Raymond, Robert or Cat

Or you can just leave a comment below…

The “Fine Print”

  • Sale shall be on an “AS IS WHERE IS” basis. Units and prices are subject to change without prior notice.
  • Inadvertent and excusable errors in the vehicle condition and description shall not be deemed as misrepresentation on the part of the bank.

More listings of repossessed cars and foreclosed properties

Expect more listings of repossessed cars from EastWest Bank. Aside from second hand cars that are for sealed bidding, I will also feature listings of foreclosed cars that are for negotiated sale.

It also follows that I will also resume featuring updated listings of EastWest Bank foreclosed properties  in ForeclosurePhilippines.com. Don’t forget to subscribe to get email alerts when these listings are published.

Happy hunting!

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194 
Blog: http://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2012 All rights reserved.

Full disclosure: I am an accredited broker of EastWest Bank foreclosed properties.

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About Jay Castillo

Jay is the founder of Foreclosurephilippines.com where he shares real estate investing tips and foreclosed property listings. He quit his job as an I.T. Manager to focus on Real Estate Investing and Internet Marketing. He is a PRC licensed Real Estate Broker (REB License # 3194)... [Read more]

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  • oseta Balena

    it is good to know your stuff too. But it seems that the prices are still high in as much as the first owner had already paid some monthly installments maybe, can u send me email in the future too.Thank you

    • http://www.foreclosurephilippines.com Jay Castillo

      You may be right Oseta, although I’ve heard that a lot of repo cars are usually the result of impulse buying where the first owner rarely made any payments after the first month or none at all.

      I must admit however that I am a bit clueless when it comes to market prices of second hand cars, mainly because I don’t have any immediate plans to buy one. Cheers!