10 Important Things a Car Loan Borrower Must Know About Agents and Lending Companies in the Philippines

know loan optionsBorrowing or applying for car loan in the Philippines is perhaps one of the recently most applied for type of cash credit in the Philippines. The major reason why this is so is because of the fast approval and turnover of cash proceeds by lending companies in the Philippines. This of course includes banks, private lenders as well as private financiers. They all have their advantages but when it comes to appraisal, charges and fees, how fast they approve loan, requirements and convenience, they have their own signature system you can easily comprehend and understand when you serve these loan products. I am a professional loan consultant and therefore, I know. That is the reason why I decided to put up this post to help loan clients and borrowers understand why they need FREE assistance from a qualified and professional loan agent like me. Below are my own top 10 reasons why loan applicants need an agent to assist them.

ask your loan agentTop 10 Reasons Why You Need an Agent for your Car Loan Application

  1. Pre-qualification – As a professional in the field of loan products application assistance for more than 2 years now, I make sure to pre-qualify all my clients. The reason is simple – to prevent wasting their time going and submitting documents and requirement only to find out they can’t qualify to apply at all. Time is very crucial and knowing who qualifies will allow the agent the leverage which lending company partner a borrower can qualify to apply for loan. Lending companies will never subject you to any such pre-qualification process, they will just tell you to come over and bring all the necessary requirements.
  2. Full Disclosure – This means that as a client, you need to be transparent. I will be asking some really hard but not so personal questions and I expect of course for ALL my clients to lay down their cards straight. Otherwise, I won’t be able to help completely 100% with the right approach. Sample questions in this part will be like – “have bad credit?” / “ever applied to other lending companies before?” / “if so, which company?” etc. This is to help you be prepared. Your name is in the lending company database and there is no use not to disclose any credit problems. It is best that I know it, believe me because from here, I will know which lending company provider will be just perfect for you. Remember that I am duly licensed and accredit to multiple lending companies so you have choices with me even if it is sometimes hard to accept that your are in bad credit.
  3. avoide disapproved loan applicationDo’s and Don’ts – A very limited loan consultant would know the do’s and don’ts in applying for car loan in the Philippines. I am definitely not one of them. I have learned from assisting hundreds of clients all my life in the lending company which works and which doesn’t and I make sure to apply what I have learned to ALL my current clients. One good example for this is – Don’t disclose any mortgaged property such as car or house and lot… and Do disclose ALL sources of income with supporting documents all together. Apart from these useful must and must not principle, there are countless other information a borrower will need to know even prior to reporting and submitting documentary requirements for any type of loan. To know about them, ask me!
  4. Sufficient Documentary Requirements – A loan applicant may have all the necessary requirements to submit but it is not the only issue when doing so. As a borrower, it is your obligation to ask your agent if all your documents are enough to convince the lending company to approve your application to avoid getting disapproved or declined. Believe me I have been to many clients who don’t listen to me and they end up either delaying the approval and release of their money or worse, they get declined of their loan application. Lending companies in the Philippines don’t just talk about the numbers or if you have the complete list when it comes to requirements. What is important is if all these requirements are sufficient enough to convince their credit approval committee that you have what it takes to maximize the appraisal of your property. This is so that they can give you the highest possible loan amount and fast loan approval and release of cash because you have what it takes as your capacity to pay for the loan if the form of your income as well as all the right documents.
  5. Information Disclosure – Many loan agents don’t know or understand that whatever information is disclosed in an application form or as part of documentary requirements matters big time. For example, there are misconceptions that having a credit card statement of account submitted is an asset or that it is a source of income and will help in maximizing the approval of a loan application as well as the amount to be approved for the loan. This is wrong! Credit card statement will further lure you to getting less amount of loan approved or worse – get an application declined. Any form of expenses will always be a liability regardless of whether you can pay for your credit card bills or not or if you get delayed payments or not. Expenses are expenses and they will be deducted as part of your capacity to pay for a loan in the end.
  6. What-You-Need-To-Know-as-Borrower - CopyGoing for Pro Agent Only – There is only a thin line between a professional agent and your regular agent. Both however may know their way but the big difference will be how to handle the most difficult situations and how to help the client get out of it plus and how to treat a client despite such circumstance with alternatives. Remember that one of the secrets to fast loan application approval is a good agent. With that said and from this very article, it’s up to you to decide if you’ll go for anybody else or contact me now if you want to apply for car collateral loan. If so, please visit this page to fill up my form – http://www.fastloanph.com/car-loan-philippines.html.
  7. Avoid Being a Walk-In Client – I’ve said above that you are surely going to need an agent and for so many reasons that would be true. One major and important fact is that if you try to walk-in, you get charged the same as when you have a good agent on your side to make a follow up on your application. Just today, I’ve seen how this alone could work for a loan borrower and believe me, you won’t want to be in the situation of the client I saw just today who didn’t get any assistance at all.
  8. Ask – Asking your agent what works and what doesn’t as well as the do’s and don’ts and all other things you will need to equip yourself when an initial interview comes after your submit your documents will help big time if speeding up the approval of your car collateral loan application. With my experience, I always give my clients a sky is the limit time for questions. I don’t want to end up with dissatisfied clients to assist just because I failed to brief them with all necessary stuff and information they will need when they are on the hot seat. If my clients don’t ask, I make sure to ask them instead if they have any other questions and that will be the signal that I need to give them loads of information they might need before the account officers do the interview.
  9. Communication – After all the necessary things are done and folder of the client is already inside the lending personnel, one thing important is communication. This is the most crucial time of the process and makes it possible for a 1 day release loan using the auto as collateral. That is because after all the documents have been submitted and an initial interview has been conducted, the waiting process goes a long long way. An established communication between the agent and his client will play the biggest role for faster processing as the client may go home or decide to wait for a signal if it’s possible to come up with 1 day approval and release of loan proceeds. This is also the time when loan calculator will be on the way.
  10. Don’t forget to ask for my calling card – At this point, if all else has been going on smooth, your on your way to getting assisted by the best agent in the industry. The awards I have received this year 2014 from my providers will say it.

contact your agentLastly, if you think you happen to arrive at this article by mistake and is actually really looking for OFW related loan, please visit my page here – http://www.ofwcashloan.com/

You may also visit me here – seaman loan.

Or you can contact me directly below:

Call to inquire NOW! – Sam Casuncad (Pinoy loan consultant)

Home office phone: 542 7015 / 366 3645

Sun Cellular No 0932 – 872 5532

Smart Cellular No 0939 – 9269335

Globe No 0917 – 5019245

Email application form at info@loanph.com

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