EastWest Bank repossessed cars public sealed bidding slated on October 25, 2012

eastwest bank repossessed and preowned cars

The next public sealed bidding of EastWest Bank repossessed cars and pre-owned cars will be happening on October 25, 2012. The deadline of submission of bids will be at 4:00pm, while the opening of bids will be at 4:30pm.

The complete list of pre-owned / repossessed cars for sale through sealed bidding, the bidding schedule, and bidding guidelines can be seen below.

EastWest Bank repossessed cars/pre-owned cars for sealed bidding on October 25, 2012

No. Location Model Plate # Color Mileage Minimum Bid Price
1 Sanford 6 2003 BMW X5 4.6IS A/T Gas XMW-464 Silver 18,543 P 1,700,000.00
2 Sanford 3 2011 Chevrolet Spark 1.1 M/T Gas THO-225 Green 1,848 P 400,000.00
3 Sanford 3 2011 Ford Focus 1.8 Sedan M/T Gas TZO-795 Blue 19,234 P 550,000.00
4 Festival 2008 Ford Focus 1.8 HB A/T Gas ZTB-708 Silver 52,714 P 350,000.00
5 Sanford 3 2006 Ford Focus 1.6L M/T Gas RDY-778 Silver P 150,000.00
6 Sanford 12 2012 Hyundai i10 GLS 1.1 M/T Gas TIT-480 Beige 5,730 P 300,000.00
7 Sanford 12 2011 Hyundai Getz 1.1L M/T Gas TCO-985 Gray 13,634 P 350,000.00
8 Sanford 12 2011 Hyundai Sonata Theta II A/T Gas TSI-768 White 19,559 P 1,100,000.00
9 Festival 2011 Kia Rio LX 1.4L M/T Gas TUQ-200 White 15,265 P 350,000.00
10 Sanford 3 2011 Kia Rio LX 1.4L M/T Gas TIG-507 White 4,826 P 350,000.00
11 Festival 2011 Kia Rio LX 1.4L M/T Gas TJQ-189 White 8,047 P 350,000.00
12 Sanford 6 2011 Kia Rio EX 1.4L M/T Gas PQJ-733 Orange 23,820 P 350,000.00
13 Sanford 6 2010 Kia Rio EX 1.4L M/T Gas NQK-694 Silver 40,814 P 320,000.00
14 Sanford 3 2006 Nissan Sentra GSX 1.6L M/T Gas ZCG-329 Gray 77,374 P 220,000.00
15 Sanford 12 2006 Nissan Xtrail 200X 4×4 A/T Gas ZFR-980 Gray 61,854 P 450,000.00
16 Festival 2011 Suzuki Alto 1.1L M/T Gas TQI-939 Red 15,203 P 250,000.00
17 Sanford 3 2011 Suzuki Celerio HB 1.0 M/T Gas TWO-367 Silver 23,411 P 300,000.00
18 Sanford 6 2011 Suzuki SX4 1.6L A/T Gas TTI-737 Silver 6,530 P 600,000.00

Unit in Cebu

No. Model Plate # Color Mileage Minimum Bid Price
1 2011 Hyundai Elantra CVVT 1.8L A/T Gas YKF-947 Black 13,798 P 650,000.00

Note:

  • 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.

Bidding Schedule

Viewing Schedule: Mondays to Fridays, 8:30am to 5:30pm. Saturdays, by appointment
Deadline of Submission of Bids : October 25, 2012 at 4:00pm
Opening of Bids: October 25, 2012 at 4:30pm

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. Please follow the bidding schedule indicated.
    • 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. 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.
  5. An additional Php400.00 shall be charged from the winning bidders as notarial fee

Please refer to the bid form for more details

>>CLICK HERE TO DOWNLOAD THE BID FORM<<

For more details, Please contact EastWest Bank directly and look for:

Ezra S. Belon

    • Sales Associate, Acquired Assets Division
    • Tel +63 (2) 464-2547
    • Fax +63 (2) 892-7614
    • E-mail: ESBelon@eastwestbanker.com

Warehouse addresses

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

Repossessed car buying tip: I once asked a Hyundai service advisor in one of their dealers if they will still honor the 5-year warranty for a Hyundai repossessed car (or any second hand car that I would buy) if it is still within the warranty period. He said they can honor the warranty as long as the preventive maintenance schedule was followed and they can verify this through the service passport. I suppose the same applies to other cars. So if you are inspecting a repossessed car, don’t forget to look for the service passport! Of course, it would be prudent to confirm this with your favorite car dealer before buying a repossessed car as part of due diligence. 

Where is the list of EastWest Bank foreclosed properties?

If you are not interested with EastWest Bank’s repossessed cars, don’t worry, my next post will include the latest list of EastWest Bank foreclosed properties.

*Update as of October 25, 2012: You may now access the list of EastWest Bank foreclosed properties for sale as of October 2012

Don’t forget to subscribe to get email alerts when this list is published.

Happy hunting!

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://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, which includes repossessed/pre-owned cars.

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