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

Last Updated on by Jay Castillo | Filed under: - 6 Comments

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.LocationModelPlate #ColorMileageMinimum Bid Price
1Sanford 62003 BMW X5 4.6IS A/T GasXMW-464Silver18,543P 1,700,000.00
2Sanford 32011 Chevrolet Spark 1.1 M/T GasTHO-225Green1,848P 400,000.00
3Sanford 32011 Ford Focus 1.8 Sedan M/T GasTZO-795Blue19,234P 550,000.00
4Festival2008 Ford Focus 1.8 HB A/T GasZTB-708Silver52,714P 350,000.00
5Sanford 32006 Ford Focus 1.6L M/T GasRDY-778SilverP 150,000.00
6Sanford 122012 Hyundai i10 GLS 1.1 M/T GasTIT-480Beige5,730P 300,000.00
7Sanford 122011 Hyundai Getz 1.1L M/T GasTCO-985Gray13,634P 350,000.00
8Sanford 122011 Hyundai Sonata Theta II A/T GasTSI-768White19,559P 1,100,000.00
9Festival2011 Kia Rio LX 1.4L M/T GasTUQ-200White15,265P 350,000.00
10Sanford 32011 Kia Rio LX 1.4L M/T GasTIG-507White4,826P 350,000.00
11Festival2011 Kia Rio LX 1.4L M/T GasTJQ-189White8,047P 350,000.00
12Sanford 62011 Kia Rio EX 1.4L M/T GasPQJ-733Orange23,820P 350,000.00
13Sanford 62010 Kia Rio EX 1.4L M/T GasNQK-694Silver40,814P 320,000.00
14Sanford 32006 Nissan Sentra GSX 1.6L M/T GasZCG-329Gray77,374P 220,000.00
15Sanford 122006 Nissan Xtrail 200X 4×4 A/T GasZFR-980Gray61,854P 450,000.00
16Festival2011 Suzuki Alto 1.1L M/T GasTQI-939Red15,203P 250,000.00
17Sanford 32011 Suzuki Celerio HB 1.0 M/T GasTWO-367Silver23,411P 300,000.00
18Sanford 62011 Suzuki SX4 1.6L A/T GasTTI-737Silver6,530P 600,000.00

Unit in Cebu

No.ModelPlate #ColorMileageMinimum Bid Price
12011 Hyundai Elantra CVVT 1.8L A/T GasYKF-947Black13,798P 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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