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Sterling Bank repossessed cars sealed bidding slated on October 20, 2011

Last Updated on by Jay Castillo | Filed under: - 0 Comments

Sterling Bank of Asia invites interested parties in the sealed bidding of their repossessed cars for sale for the month of October 2011. The complete listing of repossessed cars can be seen below. Last day for the submission of bids shall be on October 20, 2011, 3:00 pm. The prices quoted below shall be valid only up to the last day of the submission of bids.


I apologize for the delay in posting this, had a bout with flu since Monday afternoon. I’m just glad I am now well enough to post this.

Anyway, please refer to the bidding rules and guidelines after the list of repossessed cars for sale below.

INVITATION TO BID

“as is where is”


October 2011

Sterling Bank of Asia is inviting everyone to purchase the following repossessed vehicles:

Displayed at Kotse Network, SM North Edsa beside SM Hypermarket

Make

Year Model

Color

Plate No.

Mileage

Minimum Bid Price

1

Chevrolet Captiva A/T Diesel

2009

Silver

YHZ 722

          12,235

1,036,000.00

2

Chevrolet Trailblazer A/T Gas

2005

Black

HDK-888

          53,150

662,000.00

3

Ford Escape A/T Gas

2010

Blue

FGT-217

13,255

870,000.00

4

Hyundai Getz M/T Gas

2010

Black

PHO-437

          17,141

416,000.00

5

Hyundai i10 GLS 1.2L A/T Gas

2010

Black

PXQ-588

          9,990

515,000.00

6

Hyundai Tucson A/T Gas

2009

Black

NVO-908

          54,808

746,000.00

7

Kia Rio LX M/T Gas

2010

White

YHS-481

7,002

550,000.00

8

Kia Rio LX M/T Gas

2010

White

FGV-461

25,291

550,000.00

9

Mazda 3 1.6L A/T Gas

2009

Gray

YGP-286

33,552

626,000.00

10

Mitsubishi Lancer EX GLX M/T Gas

2010

Beige

PHO-702

            8,077

760,000.00

11

Toyota Avanza 1.3 J M/T Gas

2008

Beige

ZRB-197

41,207

470,000.00

Stored in Sterling Bank Banawe Branch

Make

Year Model

Color

Plate No.

Mileage

Minimum Bid Price

12

Kia Soul A/T Gas

2010

Black

YHN-955

            7,272

975,000.00

Stored in Sterling Bank Caloocan Branch

Make

Year Model

Color

Plate No.

Mileage

Minimum Bid Price

13

Chevrolet Aveo M/T Gas

2010

Silver

FGX 232

            5,212

534,000.00

14

Ford Focus Hatchback 1.8L A/T Gas

2008

Black

ZNP 400

          77,688

526,000.00

15

Honda Civic Vti M/T Gas

2004

White

GTY-673

          95,830

338,000.00

16

Hyundai Getz M/T Gas

2010

Silver

PHO-983

            2,353

420,000.00

17

Hyundai i10 GLS 1.2L A/T Gas

2010

Gold

PGQ-627

            14,257

428,000.00

18

Hyundai i10 A/T Gas

2009

Gold

NQI-675

          57,577

377,000.00

19

Kia Carens A/T Diesel

2008

Black

YHN 706

          15,234

800,000.00

20

Kia Rio A/T Gas

2010

Gray

YJG-236

                26

560,000.00

21

Kia Rio A/T Gas

2009

Red

ZTT-240

          15,960

542,000.00

22

Mazda 3 1.6L A/T Gas

2007

Red

ZNJ-468

          64,954

455,000.00

23

Mazda 3 1.6L A/T Gas

2006

Red

ZGK-628

          25,308

380,000.00

24

Mitsubishi Adventure GX M/T Diesel

2009

Red

NUI-712

          78,164

560,000.00

25

Mitsubishi Lancer EX GT M/T Gas

2009

Black

NKQ-942

          13,310

895,000.00

26

Mitsubishi Lancer EX GLX M/T Gas

2010

White

PQQ-954

            6,934

777,000.00

27

Ssangyong Stavic A/T Diesel

2007

White

ZKY-204

          67,281

469,000.00

28

Suzuki Celerio M/T Gas

2010

Blue

NIP-621

          14,819

444,000.00

29

Toyota Altis G A/T Gas

2009

Black

NII-818

          42,094

588,000.00

30

Toyota Avanza J M/T Gas

2009

Black

YJA 499

22,487

470,000.00

Stored in Cebu Warehouse

Make

Year Model

Color

Plate No.

Mileage

Minimum Bid Price

31

Chery A5 Sedan M/T Gas

2008

Black

YGH 687

            26,845

200,000.00

32

Chery QQ 311 M/T Gas

2009

Green

YGH 446

          37,325

210,000.00

33

Kia Rio M/T Gas

2010

White

YGH-123

                5,242

465,000.00

34

Kia Rio M/T Gas

2010

White

7LU102

(temp. plate)

                5,285

465,000.00

35

Kia Rio M/T Gas

2010

White

YHH  694

                13,206

465,000.00

36

Kia Rio M/T Gas

2009

Red

YHN 358

                10,558

437,000.00

37

Kia Rio M/T Gas

2009

White

YGM 596

                19,096

445,000.00

38

Kia Rio M/T Gas

2009

White

For dropping

                90,706

437,000.00

39

Kia Picanto A/T Gas

2009

Blue

YFZ 275

Not seen

399,000.00

40

Kia Picanto M/T Gas

2009

Silver

YHH 836

20,495

389,000.00

41

Kia Picanto M/T Gas

2008

Orange

YHD 800

37,601

349,000.00

42

Toyota Corolla Altis 1.6E M/T Gas

2010

White

YJD 631 / GXK 631

28,421

580,000.00

 

INVITATION’S RULES AND GUIDELINES:

  1. This invitation is open to the public.
  2. THE INDICATED PRICES ARE ONLY VALID UNTIL OCTOBER 20, 2011.
  3. The vehicles are offered on an “as is, where is” basis, thus, prospective buyers are advised to personally visit, inspect and verify them and their pertaining document/s of ownership to ascertain their actual condition and status.  Pictures of the vehicles offered for sale can be requested from Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-217-6780) or Resnel (0917-878-6540 or 0917-534-2697 or 0922-851-8070).  They may also be reached through acquired.assets@sterlingbankasia.com.
  4. Visits to the vehicles’ storage areas and photocopies of the ownership documents can be coordinated with the same personnel of Acquired Assets, mentioned in No. 2.
  5. The indicated floor prices are the minimum bid prices, thus, any bid below the floor price would automatically be disqualified.
  6. All interested parties may submit their bids in sealed envelopes to the Office of the Audit Group Head, 2nd Flr. Sterling Bank of Asia Corporate Center, Ortigas Ave., Greenhills, San Juan.
  7. All bids must be submitted in the prescribed bid form and must be accompanied by a deposit in the form of a check payable to Sterling Bank of Asia amounting to 10% of the bid price.  It would form part of the purchase price in case the bidder wins.  In the case of a losing bid, it would be returned to the bidder.
  8. The last day of submission of bids shall be on Thursday, October 20, 2011, 3:00 p.m.  The prices quoted above shall be valid only up to the last day of submission.
  9. The bids would be opened and evaluated by the Office of the Internal Audit Head together with a representative from Acquired Assets on the next banking day following the last day of submission. The properties shall be awarded to the highest bidder.  In the event of a tie, the same shall be settled by the drawing of lots.
  10. Sterling Bank reserves the right to reject any or all intentions, to waive any formality therein and to accept the offer most advantageous to the Bank.  The decision of Sterling Bank would also be final and binding.
  11. Winning bidders would be notified by Acquired Assets after the results of the bidding are approved by the Bank’s management.   Notified winners would have five (5) working days from receipt of notice to complete the purchase price either in cash or through an approval for an auto loan facility from Sterling Bank.  Failure to fully settle the bid price within the prescribed 5 working day period shall revoke the winning bidder’s right to purchase the subject vehicle and forfeit his/her bid deposit in favor of the Bank. 
  12. Losing bidding participants would also be notified of the results the following day after the Bank’s approval of the bidding results.  Bid deposit checks of the losing bidders can be claimed upon receipt of notice at Acquired Assets Department 26th floorWynsumCorporatePlaza,F. Ortigas Jr. Ave. (formerlyEmerald Ave.),OrtigasCenter,PasigCity.
  13. Upon full settlement of the winning bid price or purchase price, the Bank would execute a Deed of Sale in favor of the winning bidder and release all pertinent documents of the property within five (5) working days subject to the documentary requirements of the Bank.
  14. The winning bidder must pull out the vehicle/s from the Bank’s premises within two (2) working days from date of full payment, otherwise, ONE THOUSAND PESOS (PhP 1,000.00) per day shall be charged as storage fee.
  15. For further inquiries, you may call Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-217-6780) or Resnel (0917-878-6540 or 0917-534-2697 or 0922-851-8070).  They may also be reached through acquired.assets@sterlingbankasia.com.

The prescribed bid for can be downloaded here: Sterling Bank bid form for repossessed vehicles

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
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.



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