I recently found this listing of AMA Bank repossessed cars for sale. What struck me was this list of of repossessed cars includes cars with a minimum bid price of Php50K, which is very cheap, considering that one of these is a 1996 Volvo 960 with automatic transmission. Of course, there must be an underlying reason why these foreclosed cars are so cheap, and the most obvious in this case is that they are more than 10 years old.
A similar 1996 Volvo 960. Image Source
If you are interested in buying any of these second hand cars, you better do your due diligence and verify their physical and legal condition. In relation to this, my friend Tyrone of Millionaire Acts recently came out with a very interesting article about repossessed cars and his article includes pointers on buying repossessed cars from banks, which should come in handy. Checkout Tyrone’s article here.
AMA bank repossessed cars
The complete list of AMA bank repossessed cars for sale through sealed bidding, along with the location of their warehouse for inspections, can be seen below.
Source: Manila Bulletin, April 4, 2010 issue, page F-7
As indicated above, please contact AMA bank directly using the included contact details for more information.
Happy hunting!
To our financial freedom!
Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo. Copyright © 2010 All rights reserved.
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Hi Edgar, the next bidding for AMA bank is on July 23, 2010. Check it out here: https://www.foreclosurephilippines.com/2010/07/ama-bank-foreclosed-cars-sealed-bidding-july-23-2010.html
kelan po yung pinaka latest bidding? tnx
Peace! Sir,thanks for the info.btw,any news for the REB exam?tnx again.GOD bless you.
Hi Robert, as far as I know the exams will be this coming December 2010. Once final I will make a post about this.
hi jay, do banks offer terms even for repo cars? thanks
Hi Lorenz, it depends which bank. For AMA bank, these are for cash purchase only.
Pingback: Tweets that mention AMA Bank repossessed cars for sealed bidding on April 14, 2010
Thanks a lot Jay for referencing my article. 🙂
.-= Millionaire Acts´s last blog ..Who Wants to be a Millionaire? =-.
You’re welcome Tyrone!