EastWest Bank repossessed cars for sealed bidding on September 6, 2012

I’ve been getting a lot of inquiries for bank repossessed cars lately which is why I’m posting this list from EastWest Bank. Actually, this is just the first batch of EastWest Bank repossessed cars for sale (more on this later). The cars on this list are for public auction through sealed bidding on September 6, 2012. Yup, that’s today already.


Sorry for the short notice folks, I just found this in my email inbox today. With that said, please checkout the complete list of repossessed cars for sale through sealed bidding along with the guidelines below.

east west bank repossessed cars for auction

Bidding Schedule

Viewing Schedule: Mondays to Fridays, 8:30am to 5:30pmSaturdays, by appointment
Deadline of Submission of Bids : September 6, 2012 at 4:00pm
Opening of Bids: September 6, 2012 at 4:30pm

EastWest Bank repossessed cars for sale on September 6, 2012

No. Location Model Plate # Color Mileage Minimum Bid Price (PHP)
1 Sanford 6 2011 BMW 320D 2.0 A/T Dsl. TIF-108 Red 23,294 1,700,000.00
2 Sanford 12 2012 Chevrolet Aveo LS 1.4L M/T Gas TIX-566 White 4,353 420,000.01
3 Sanford 12 2012 Ford Escape XLS 4×2 2.3L A/T Gas TIS-560 Blue 8,170 690,000.00
4 Sanford 3 2011 Ford Ranger 4×2 Trekker 2.5L M/T Dsl. PQH-347 Blue 12,636 800,000.00
5 Sanford 6 2006 Honda City 1.3S IDSI M/T Gas ZFD-243 Bronze 74,205 300,000.00
6 Sanford 12 2003 Honda CR-V Wagon A/T Gas XGY-836 Green 88,392 320,000.00
7 Sanford 12 2012 Hyundai Elantra CVVT GL 1.6 A/T Gas TIX-309 White 8,811 650,000.00
8 Sanford 12 2011 Hyundai Accent CVVT 1.4L M/T Gas TNO-158 Bronze 31,772 380,000.00
9 Sanford 6 2011 Hyundai Accent CVVT 1.4L M/T Gas no plate White 2,109 460,000.00
10 Sanford 6 2011 Hyundai Accent CRDI 1.5L M/T Dsl. PIN-589 Black 28,689 450,000.00
11 Sanford 6 2010 Hyundai Accent CRDI 1.5L M/T Dsl. PRO-399 Silver 24,971 420,000.00
12 Sanford 12 2011 Kia Rio LX 1.4 M/T Gas TIP-472 White 23,002 320,000.00
13 Sanford 6 2011 Kia Rio LX 1.4 M/T Gas no plate White 8,598 350,000.00
14 Sanford 3 2011 Mazda 2 1.5L A.T Gas PIB-265 Gray 23,756 450,000.00
15 Sanford 3 2007 Mazda 3V 1.6L A/T Gas ZGP-587 Gray 67,435 350,000.00
16 Sanford 3 2012 Mitsubishi Adventure GLX 2.5L M/T Dsl. no plate White 10,730 650,000.00

Bidding 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.

  • 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. Please follow the bidding schedule indicated.

5. 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.

6. An additional Php400.00 shall be charged from the winning bidders as notarial fee

>>> Click here to download the bid form

Warehouse addresses*

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

Tip: When inspecting repossessed cars, always have your trusted mechanic with you. You may start the car(s) but no test-driving is allowed.


For more information

Please call EastWest bank directly through the following:

Acquired Assets Division

  • 02-464-2550
  • 02-464-2547
  • 02-464-2439
  • 0999-885-3060
  • 0917-249-8026

Look for:

  • Ezra, Raymond, Robert or Cat

Or you can just leave a comment below…

The “Fine Print”

  • 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.

More listings of repossessed cars and foreclosed properties

Expect more listings of repossessed cars from EastWest Bank. Aside from second hand cars that are for sealed bidding, I will also feature listings of foreclosed cars that are for negotiated sale.

It also follows that I will also resume featuring updated listings of EastWest Bank foreclosed properties  in ForeclosurePhilippines.com. Don’t forget to subscribe to get email alerts when these listings are 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.




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A lot of people encounter problems and challenges when buying real estate like foreclosed properties. I encountered a lot of challenges myself, which is why I started this blog in 2008 to serve as a guide where I share lessons learned, and how to overcome challenges with real estate investing in the Philippines … [Read more] Get more from Jay : Facebook | Google+ | Twitter | LinkedIn
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