What’s The Best Car Promo For You – CarBay

What’s the best car promo for you?

Car promos are a great steal; they allow you to have your dream car either with some additional benefits, price deduction or something else. In either of the situations, the consumer is at the benefit and can purchase the car at a better deal than otherwise in a standard scenario.

But with so many different kinds of car promos popping up now and then, we often find consumer dumbstruck. He/she are either confused as what exactly these various promos mean, who they differ from one another and the biggest query being – Which one is best of me?

Well, to find an appropriate answer to this question, let us have a detailed analysis of different kinds of car promos available in the Philippines auto market.

Promo 1: All-in Downpayment

One of the most common car promos that we often come across is All-in Downpayment promo. But what does it mean? Let us first understand the term downpayment. It specifies the initial partial payment that a consumer makes to get the possession of the car (the rest amount then is paid via monthly installments). The term ‘all-in’ includes other attached cost with the auto purchase like chattel mortgage fee, insurance, and LTO registration. Often this promo evolves into All-in low downpayment promo, wherein the initial partial payment is less than the mandatory 15-20% downpayment.

It is best for you, when…
It is a great promo especially for a family man with a regular and steady income. It not only simplifies the entire car buying process but you also get the car with a discounted initial downpayment.

Promo 2: Low Monthly

Low Monthly promos are the complete opposite of all-in downpayment. Here, the buyer is asked to make a high down payment, mostly 50% of the total cost and the rest amount is to be paid via small, easy monthly installments.

Is it best for you, when..
If you have enough cash-in-hand to make the big initial downpayment then surely this promo is best suitable for you. The rest can be paid by you every month thanks to your steady source of income. This promo allows the buyer to use his savings and does not put excessive burden through low monthly EMIs.

Promo 3: Zero Interest

Zero Interest promos are a great steal and will save you the unwanted interest that is required to be paid in monthly installments. As a result, the consumer saves 15-20% of the interest cost that otherwise would have been charged by the bank. In most of the cases, the loan period is restricted to 36 months, hinting on a high initial downpayment.

It is best for you, when…
Zero interest promo as mentioned above requires a large downpayment, therefore if you are in a capacity to do, so there is no other better promo. Also, it is to be noted that a loan with 36 months of tenure implies high monthly installments, so if you can manage that too then go along grab the offer.

Promo 4: Zero Downpayment

As the name clearly suggests, Zero Downpayment allows the buyer to take the desired car home without making the initial 15-20% downpayment. However, the required amount subjected to LTO registration, insurance, and chattel mortgage are to be made.

It is best for you, when…
If the buyer does not have cash-in-hand at the moment and has no problem with the high monthly installments, then it is the offer to go for.

Promo 5: Cash Discounts

We think this one doesn’t require can explanation and is pretty much straightforward. As everyone is aware, here the company/dealer offers some discount over the actual price of the car.

It is best for you, when…
Discount is good for every buyer. But for a better deal, you should compare the benefit with other promos and make the better choice.

That’s all on the car promo front, think wisely & we hope you crack the best deal. Happy car shopping!