PDIC sealed bidding of Php21.7-Million worth of repossessed cars slated on November 16, 2012

Dreaming of your own car? Checkout these repossessed cars!

A total of 97 repossessed vehicles from closed banks shall be for sale through a public sealed bidding to be conducted by the Philippine Deposit Insurance Corporation or PDIC, on November 16, 2012, at the PDIC Training Room, 9th Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino Street, Makati City, Philippines.

Submission of sealed bids will be from 9:00am to 2:00pm. Opening of bids will immediately follow the 2:00pm deadline of submission of bids.

All of the repossessed are for sale on an “as-is where is” basis hence all interested bidders are strongly advised to conduct proper and reasonable due diligence before the sealed bidding.

Bid bond and payment terms

All sealed bids are to include 10% (minimum) of the submitted bids in the form of cash or Manager’s Check. Winning bidders are required to pay the 90% balance on or before November 27, 2012.

Complete list of repossessed vehicles and other documents

To get a copy of the Invitation to Bid (contains a complete list of the repossessed cars), Conditions of Bid, Bid Form, Special Power of Attorney (proforma), Secretary’s Certificate (proforma), Bidder’s Advisory, checklist of requirements, and to view pictures of the repossessed cars for sale through sealed bidding, you may visit the following link to PDIC’s website:

Please be advised that PDIC might remove the auction details on their website after the auction.

How to inquire

Please call PDIC’s Asset Management and Disposal Group DIRECTLY through the following telephone numbers

  • 841-4650
  • 841-4651
  • 841-4668
  • 841-4770
  • 841-4772
  • 841-4777

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: Nothing to disclose.

Image courtesy of: David Castillo Dominici  / FreeDigitalPhotos

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