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Welcome to Philkotse.com - one of the largest automotive websites in the Philippines hosting thousands of listings for new & used cars for sale. With a simple click on our advanced search filter's drop-down selection boxes, you can organize your search by body type, transmission type, model, year, mileage, location, and even color.
You are now currently browsing our page for Lotus Coupe / Convertible for sale in the Philippines. Aside from the current listing, you can also view other models from other major car manufacturers here in the Philippines.
Typically here in the Philippines, people prefer paying for their cars through a loan. Getting a loan entails some requirements on your part and some steps you need to take. So in order for you to get approved without a hassle, Philkotse.com has come up with a simple step-by-step guide as follows.
One of the biggest things you can do in order to get approved without issue is to save up some money as most lenders would certainly prefer if you are willing to put up a certain amount. Typically, most lenders will accept about 20% down payment but take note that the larger your down payment, the easier and faster you'll get your loan approval.
You can also check out our Lotus Philippines price list to get a picture of a car's retail price, from there you can calculate how much you can or want to save up for down payment.
Even before going to a financial institution for your loan, there are things you have to consider first. The first of those things is your income, the second is your credit history and then finally; your ability to pay monthly for your car loan.
From this self-assessment, you can now create a picture of how capable your income is. Conversely, do not let lenders take advantage of you by deciding for you how much you can spend. And of course, take into consideration the price of the Lotus car for sale you want and whether it's practical for you to own in the first place.
Also, lending companies will consider your unsettled debt a bad sign and might be further proof to them that you might be a risky client. As such, if you want to get an approval, settle all remaining credit first. This will, in turn, provide you with a spotless financial history that will prove to a lending company of your capability of paying the loan you are seeking from them.
When you get approved, it is paramount that you avoid laying additional debt. Some financial institutions will study your credit before finalizing your loan and will take into consideration your new debt. In some cases, new debts will even prevent you from having a loan in the first place.
Another very good way to start your journey to buy a vehicle is to get pre-approved for a car loan. Through this process, you will be provided with a lot of information regarding down payment rates and how that will affect your monthly rates, interest rates, etc.
Major car companies like Lotus Philippines usually have their own in-house financial institution who can provide you with guidance and pre-approval for your car loan.
First off, do not lie about your income as lenders will undoubtedly check whether you're telling the truth or not.
Most often, those who lie about their income will be denied from getting a loan and in some cases, will face criminal charges. This will hold true especially if you've missed payments on your loan on top of lying with your financial information.
This is highly advised for first timers who we can assume have not yet grasped details on buying a car or even getting a loan. These financial professionals are experts in their field and have connections to a large pool of lenders who can provide them more information which in turn will help them cater to your needs.
As we've said most car companies here in the Philippines have their own in-house financial institutions. To find out more you can look through our Lotus Philippines dealerships to find the nearest one to you.
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