Repossessed cars are viable, affordable options for Pinoys – BPI

With less than a hundred days to go before Christmas, some have started writing their wish lists. It’s easy enough to guess what they contain. The Ambisyon Natin 2040 report of the National Economic and Development Authority said 79.2 percent of Filipinos aspire to have a simple and comfortable life, and this means having a stable job and owning their own homes and vehicles.

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Bank of the Philippine Islands (BPI) shares this dream and believes that every Filipino deserves a comfortable life. Through Buena Mano, Filipinos can own a car much more easily.

“Clients experience a bargain-hunters’ gain. We continue to improve our processes to make sure car ownership is fast, affordable and easy for our clients.,” said Fitz Chee, Head of Buena Mano.

With Buena Mano, good buys need not be expensive. It follows a very transparent, clear, and fair process from retail sales to biddings. All units are reasonably priced. Compared to brand new units, a potential buyer can expect price savings as much as 30%.

Buena Mano also offers various payment options to clients from cash to car loan financing for available cars below 5 years aging. For cash transactions, clients can bring home their auto units on the same day when they make a full payment. For transactions involving financing, the unit is released after the required approvals and payments are in place. Buena Mano also relies on client feedback to ensure that clients enjoy the most efficient transaction possible.

“Some may have the impression that just because repossessed cars are pre-owned, they are worn out. It is worth noting that a typical car loan period can span anywhere from one to five years, and as such, repossessed cars are fairly new, and mostly in good condition,” said Chee.

For most people, getting their own car is one of the biggest purchases or investments. With Buena Mano, buyers can also take comfort in the fact that they will be carefully guided on what to check in the vehicle, including its physical condition and its papers, before purchasing any unit.

Clients can visit Buena Mano stockyards to take a look at the second-hand cars, or they can check the list of second-hand cars for sale at, which is updated monthly. Real estate properties are also available on the same site.

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