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|
- 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.
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
- Please make sure you have read and understood what is written in the bid form prior to submission.
- 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.
- 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.
- 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.
- An additional Php400.00 shall be charged from the winning bidders as notarial fee
Please refer to the bid form for more details
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
- 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
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To our success and financial freedom!
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.