Are you in the market for a used car? Have you considered buying a repossessed car from a bank? If so, BPI is the first bank in Southeast Asia to establish itself as a trusted name in pre-owned cars.
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 condition of the car, and which cars for sale are the best.
Related post: Security Bank Repossessed Cars List
Table of Contents
BPI Repossessed Cars List (Apr 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 buttons below for the retail listings of repossessed cars.
Luzon
Visayas
Mindanao
Lot Sale Listings
Click the button below for the retail listing of repossessed cars.
Mindanao
Inspection Schedule
You may visit the following locations for physical viewing during these dates.
BMABB Guiguinto ( 9:00am to 4:30pm )
- Physical Checking
- March 08, 2024
- March 12 – 15, 2024
- External Viewing
- March 9 and 11, 2024
BMABB Lipa ( 9:00am – 4:00pm )
- Physical Checking
- March 08, 2024
- March 12 – 15, 2024
- External Viewing
- March 09 and 11, 2024
BMABB Bacolod ( 9:00am to 5:00pm )
- Physical Checking
- March 08, 2024
- March 11 – 15, 2024
- External Viewing
- March 09, 2024
BMABB Iloilo
- Physical Checking ( 2:00pm to 4:00pm )
- March 08, 2024
- March 11 – 15, 2024
- External Viewing ( 8:00am to 5:00pm )
- March 08 – 15, 2024
BMABB Davao ( 10:00am to 3:00pm )
- Physical Checking
- March 11, 2024
- March 13 and 14, 2024
- External Viewing
- March 08, 2024
- March 12, 2024
- March 15, 2024
other BMABB stockyards
- Mondays to Fridays – ( 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 March 12, 2024 ( 9:00am to 5:00pm )
- Opening of bids is on March 13, 2024 ( 9:00am )
Via Regular Bidding
- Bidding period is from March 12, 2024 ( 9:00am ) to March 18, 2024 ( 9:00am )
- Opening of bids is on March 18, 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.
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 recoup 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 this page or by visiting one of their participating dealerships. They also hold regular auctions where you can bid on repossessed cars.
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 “as is,” 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 inspected and to do your research before making a purchase.
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.
