July 11, 2016

A Guide to Choosing the Perfect Vehicle for Your Needs

PSBank Auto Loan

Buying a vehicle is not that easy. As much as one can dream of owning a sports car, there are a lot of things to consider aside from your budget. There is the weekly cost for gasoline, car maintenance fees, and the annual car insurance fees, among others. To minimize your expenses while at the same time being able to conveniently reach your destination, practical choices should be made.

How, then, should one find the right vehicle that comes closest to one’s dream car?

PSBank is here to help answer that question. Here are three simple steps from PSBank to guide car buyers in choosing the vehicle that perfectly meets their everyday needs.

1. Lifestyle Check

First things first, identify your dream car versus the vehicle that can answer your needs and fit your budget. In outlining this, you have to consider factors such as the number of passengers who would regularly use the car, cargo capacity, availability and size of parking space, and weather conditions. Your driving habit should also be examined before deciding on a vehicle with either an automatic or manual transmission and when choosing between an engine running on diesel or gasoline.

2. Research Options and Make a List
In today’s digitally connected world, finding the ideal car is easier and no longer limited to visits to car show rooms. You can now search for the specs, costs, and availability of cars online. When searching in the Internet, study all possible financing options, models and units, and read up on user reviews to get a balanced view of the vehicle you are about to purchase. On top of this, you can take advantage of freebies offered by banks such as free chattel mortgage, free first year insurance and low amortization! Based on your research, you can now make a short list of the vehicles you can purchase before visiting the dealership or warehouse. This is an efficient way to find good deals and also helps save time.

3. Budget Wisely
Be realistic when setting a budget for a vehicle, whether it is brand new or second-hand. As a guiding principle, monthly car payments should be less than a third of one’s take-home pay. Loan packages should be carefully studied and compared to get the best rates. PSBank offers affordable car loans with prime rebate to assist its customers with such investments.

Aside from the car loans, promos, and application facility, PSBank’s website also features a Loan Calculator Module so that prospective buyers can compute monthly amortization rates and plan their budget accordingly.

PSBank also recently launched the PSBank Online Auto Loan Application that allows its clients to apply for a car loan anytime and anywhere using a computer or mobile device, eliminating the need for time-consuming paperwork and long lines. Credit decisions are given via SMS 24 hours from the time of application.

As an additional treat, clients who apply for a PSBank Auto Loan through the PSBank Online Auto Loan Application facility until July 31 will enjoy free comprehensive insurance on the first year and free chattel mortgage. Auto Loan applications should have a minimum loan amount of PhP500,000 and a minimum loan term of at least two years.

“At PSBank we are committed to deliver our ‘Simple lang. Maaasahan’ philosophy to our customers at all times. With a big investment such as a vehicle, we understand the challenges that come with it. As your trusted partner, PSBank is here every step of the way to help you overcome those challenges with the products and services we have to offer,” said Emmanuel A. Tuazon, PSBank SVP and Head of Marketing and Customer Experience Group.

With PSBank’s Auto Loan with Prime Rebate, any buyer can easily own their dream car that meets their lifestyle needs.

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