Are you in the market for a used car? Have you considered buying a repossessed car from a bank? In this article, we will discuss everything you need to know about BPI-repossessed cars, including how to get the best deal, how to check the car’s condition, and which cars are the best for sale.
Related post: Security Bank Repossessed Cars List
BPI Repossessed Cars List (Dec 2024)
These are the updated list of repossessed cars under BPI. Please click the desired location to download the PDF file.
Retail Listings
Click the button below to download the list of retail listings.
Luzon
Lot Sale Listings
Click the button below for the lot sale listings of repossessed cars.
Luzon
Visayas
Mindanao
Online Submission Forms
If you prefer to submit your bids online, simply click the buttons below to access the forms.
Schedule of Viewing
You may visit the following locations for physical viewing during these dates.
| BMABB Stockyard | Auto Viewing with Keys (Date / Time) | Auto Viewing without Keys (Date / Time) |
|---|---|---|
| BMABB Guiguinto | December 09 to 12, 2024 [9:00am to 4:30pm] | December 06 and 07, 2024 [9:00am to 4:30pm] |
| The rest of BMABB Stockyards | Monday and Friday, 9:30am to 4:00pm (during selling period only) | Monday to Saturday, 9:00am to 4:30pm |
Bidding Schedule and Offer Type
Here’s the bidding schedule and types of offers that you can make.
Via Bid Now
- Bidding period is on December 10, 2024 (9:00am to 5:00pm)
- Opening of bids is on December 11, 2024 (9:00am)
Via Regular Bidding
- Bidding period is from December 10, 2024 (9:00am) to December 13, 2024 (9:00am)
- Opening of bids is on December 13, 2024 (9:01am)
Mode of Payment
Here are the following modes of payment for the purchase of repossessed cars.
Regular Sale
- Cash
- Via bank financing
Bid Now / Lot Sale
- Cash
What are BPI Repossessed Cars?
Repossessed cars are vehicles that have been seized from their previous owners due to a variety of reasons, including failure to make payments on the vehicle.
These cars are then sold by the bank at a significantly lower price than their original value in order to recover the outstanding debt. BPI-repossessed cars are pre-owned cars that were previously owned by BPI clients who were unable to fulfill their payment obligations.
Advantages of Buying Repossessed Cars at BPI
There are several advantages of buying a repossessed car at BPI.
- You get a wide array of cars to choose from. BPI sells a variety of models and makes, and you can choose a car that fits your budget and needs.
- You can benefit from the low prices. Repossessed cars are sold at prices that are significantly lower than their original value. This is because banks are more interested in recovering their debt rather than making a profit, so you can get a good deal.
3 Easy Steps to Buy a BPI Repossessed Car
If you’ve decided to buy a repossessed car from BPI, follow these steps:
- The first step is to check their complete list of repossessed cars.
- Once you’ve selected the car you want to buy, you can visit any BPI branch and fill out a bidding form.
- You will also need to pay a refundable deposit of ₱5,000 to participate in the bidding process.
FAQ
What are repossessed cars?
Repossessed cars are vehicles that have been taken back by the bank or lending institution after the owner has failed to make payments. These cars are then sold by the bank in order to recover some of the losses on the loan. Read u003ca href=u0022https://juaninvestor.comhttps://juaninvestor.comhttps://juaninvestor.com/repossessed-cars#what-are-repossessed-carsu0022u003ethis articleu003c/au003e for detailed info.
Why does BPI sell repossessed cars?
BPI sells repossessed cars to recover some of their losses from loans that went unpaid. By selling these cars, they can coup some of their losses and put the money back into their operations.
How can I find BPI repossessed cars for sale?
You can find BPI repossessed cars for sale on u003ca href=u0022/bpi-repossessed-carsu0022u003ethis pageu003c/au003e or by visiting one of their participating dealerships. They also hold regular auctions where you can bid on.
How many BPI-repossessed cars are available for sale?
The number of available BPI repossessed cars for sale varies, but there are usually several hundred cars available at any given time.
Are there any warranties or guarantees on BPI-repossessed cars?
BPI-repossessed cars are sold u0022u003cstrongu003eu003cemu003eas-is-where-isu003c/emu003eu003c/strongu003e,” meaning there are no warranties or guarantees on the vehicle’s condition. It’s important to have the car inspected by a qualified mechanic before making a purchase.
How much money can I save by buying a BPI-repossessed car?
The amount of money you can save by buying a BPI repossessed car varies, but it’s usually a significant amount (around 20-30% less) compared to buying a brand-new car. Some vehicles are sold for a fraction of their original cost.
Can I get financing for a BPI-repossessed car?
Yes, BPI offers financing for repossessed cars, with up to 60% of the car’s appraised value available as a loan. This can make buying a repossessed car more affordable for many buyers.
Who can buy BPI-repossessed cars?
Anyone can buy a BPI-repossessed car as long as they have the funds or financing to make the purchase. BPI values client trust and works to make buying a repossessed car as easy and accessible as possible.
Is buying a BPI-repossessed car a good idea?
Buying a BPI-repossessed car can be a good idea for those who are looking for an affordable vehicle and don’t mind the risks that come with buying a used car. It’s essential to have the car and to do your research before making a purchase. Make sure to read these u003ca href=u0022https://juaninvestor.comhttps://juaninvestor.comhttps://juaninvestor.com/repossessed-cars#helpful-tips-for-buying-repossessed-carsu0022u003ehelpful tips before buying a repossessed caru003c/au003e.
Final Thoughts
Repossessed cars from BPI are one of the best options if you’re considering buying a used car. Just make sure to do your research so you’re in an excellent position to buy a car that you like and that’s within your budget.
