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Car finance repossess Please help...

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1 Car finance repossess Please help... on Wed Jun 21, 2017 7:43 am

enerlevel


Arresto Menor
Hi,
This is my second thread to the problem I am facing in philippines. Basically Toyota lost my cheque and the bank financing my car is chasing us for repossession. If you want to know about the case then please read my other thread.

Car : Toyota Fortuner petrol 1.2 million
Deposit : 240,000 peso down payment
Finance : 24500 peso x 5 years

Payment cleared : 2 years = 588,000

Payment uncleared : 1 year 3 months

Now the bank is sayIng to pay cash 1.4 million peso to. Lear the car. Does this figure add up? So basically they want us to pay 1.4 million + 588,000 installments cleared + 240,000 down payment
what will happen if I just hand over the car to them ? Will they come back to me later asking for more money ?

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