Plantersbank foreclosed cars for sale via auction on November 13, 2009

Jay — Fri, 06 Nov 2009 04:41:52 +0000

I recently found a list of foreclosed cars for sale via auction from Plantersbank and as usual, I am posting it here for the benefit of those looking for cheap used cars. These foreclosed cars from Plantersbank shall be sold via public auction through sealed bidding and the deadline of submission of bids is on November 13, 2009, 12:00pm.

Interested parties may inspect the foreclosed cars on November 4 and 11, 2009, from 10:00am to 3pm. Yes, they have allotted only 2 days for the inspection of the cars and day 1 has already passed. I apologize for not posting this sooner.

Bidders may submit their offers to the PDB Auditing department at the 9th floor, Plantersbank Building 314 Sen. Gil Puyat Ave., Makati City and at their Warehouse located at 292 Susano Road, Camarin Caloocan.

For inquiries, you may also call (02)884-7600 / (02)884-7800 loc 6171-6176 / (02) 892-0559 or (02) 812-4958 and look for Mr. Allan Portento or send an e-mail to ajportento@plantersbank.com.ph

By the way, after cross checking with their website, I found out that the foreclosed cars were also listed online but I noticed something different with one of the cars listed, its price was lower! It appears that the print ad that appeared in the November 1, 2009 issue of the Manila Bulletin already reflected reduced prices.

The following is what I found on the website of Plantersbank and I am posting it here for everyone’s reference. Take note of the minimum bid price of Php650,000.00 which appears to be outdated.

2007 Ford Focus Hatchback
Automatic Transmission
Gasoline Engine
Body Color: Black
Mileage: 27,747
Plate No. Ending in “2″
“As-Is-Where-Is Basis”
Minimum Bid Price: P650,000.00

In contrast, the price for the Ford Focus on the list of foreclosed cars that I found below, which I believe is the same one above, was only Php580,000. Take note that the mileage also increased a bit. Just click on the image below to enlarge and/or download the complete list of foreclosed cars from Planterbank.

Happy hunting!

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To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Social Network: http://foreclosurephilippines.ning.com
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Related posts:

Bank repossessed cars for sale!

Jay — Wed, 26 Aug 2009 12:49:21 +0000

I’ve noticed Foreclosure Philippines has been getting a significant number of visitors looking for bank repossessed cars and logs indicate that this has been increasing lately. Rather than disappoint these visitors, I have decided to add a new category of free listings of repossessed cars. Repossessed cars which have been foreclosed by banks form part their inventory of acquired assets for sale so they definitely fit into this site. I’m just glad that I changed this site’s name from Foreclosed Real Estate Philippines to Foreclosure Philippines way back when I migrated to Wordpress. Now, I am not restricted to only foreclosed real estate and can cover all sorts of foreclosures.

Investing in bank repossessed cars is just like investing in foreclosed real estate. The principles are the same. In fact, I know a real estate investor who applies real estate investing techniques to investing in bank repossessed cars. My friend, who goes by the nick KuskosBalungos at the forum section of Entrepreneur Philippines, basically did buying and selling of foreclosed cars using the rent-to-own concept. Check out this thread to know more about him: http://www.entrepreneur.com.ph/board/index.php?topic=20004.msg268013#msg268013

I believe buying second hand or used cars like bank repossessed cars that are in good condition are better than buying brand new cars as it is common knowledge that brand new cars lose a big chunk of their value once they roll off the show rooms. Even if you are looking for a car for your personal use and not for investment, it would still be good to consider bank repossessed cars. Of course, there are some bank repossessed cars which are not “good buys” so due diligence is essential, same as in foreclosed real estate investing. As long as you do your homework well, you can earn from this. I will share more information on this as I learn more.

In the meantime, I leave you with these two listings:

BPI-Buena Mano’s “Car Bidding Bonanza”, and
RCBC Savings Bank’s “Great Deals on Used Wheels” Pre-owned cars sale.

BPI Buena Mano Car Bidding Bonanza

The BPI-Buena Mano Car Bidding Bonanza is a public sealed bidding of repossessed cars. Deadline of submission of bids is on September 1, 2009 at 5:30pm and the opening of bids will be on Wednesday, September 2, 2009 at 9:30am.

The repossessed cars can be inspected at their respective stockyards from August 23 to September 1, 2009. Please refer to the listing for more details and guidelines.

Click here to download the complete listing of repossessed cars for the Buena Mano car Bidding Bonanza.

(Source: Manila Bulletin Classifieds, August 23, 2009 issue)

According to the auction announcement, Buena Mano foreclosed properties are also available but I’m sure you already know that and the lists can be found here.

RCBC Savings Bank’s Great Deals on Used Wheels Pre-owned car sale

The RCBC Savings Bank Great Deals on Used Wheels Pre-owned car sale will be held from August 23, 2009 to August 28, 2009 in RCBC’s Pasig and Pampanga Warehouses. Their Pasig City warehouse is located at 8516 A. Sandoval Avenue, Pinagbuhatan, Pasig City, Philippines while their San Fernando Warehouse is located at Barangay San Agustin, San Fernando, Pampanga Philippines.

Financing is available and the required downpayment can be as low as 20%. You mar refer to the list of repossessed

cars for sale for more details that include: model year, brand, make, plate number, price, downpayment, and net monthly amortizations.

I’m not really sure if the sale of the repossessed cars will be held through sealed bidding or a public auction. For inquiries, please refer to the listing for the contact numbers of the designated persons-in-charge.

Click here to download the complete listing of repossessed cars for sale in RCBC Savings bank’s Great Deals on Wheels Pre-owned cars sale.

(Source: Manila Bulletin Classifieds, August 23, 2009 issue, also posted at http://rcbcsavings.com/?p=78)

You may also visit the website of RCBC Savings Bank: http://rcbcsavings.com/?p=78

Happy investing!

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