Mechanics of Purchasing of Pre-Owned Vehicles

  • All offers received are subject to the weekly bid tabulation with cut-off every Friday and results to be announced three banking days thereafter
    (In light of the Enhanced Community Quarantine due to the COVID-19 pandemic, the Bank will continue accepting bids which will be awarded after the ECQ. Cut off will remain to be the Friday before the lifting of ECQ and awarding will be 3 banking days thereafter. We wish to thank you for your continued interest and patronage.)
  • Upon receipt of notification as highest bidder, Security Bank shall require the following within 2 banking days:
    • Deposit of 10,000 earnest money per unit
    • Duly filled-up Buyer’s Information Sheet
    • 2 valid government issued IDs
  • Offers may be submitted through the Web Offer Form or by filling up the Auto Offer Form. Once accomplished, you may send the form via email to Cbalute@securitybank.com.ph copy furnish ygo@securitybank.com.ph or facsimile at +632-8867-6796
  • The bank will acknowledge receipt of the Offer Form within 2 hours, if no acknowledgement is receipt, please fee free to contact account officer at +632-8867-6788 loc. 8995
  • For cash sales, payment should be made within 5 banking days from email notification of approval on the sale of the unit. Employees of SBC applying for their car plan benefit will be considered as Cash transaction.
  • For auto loan mode of payment, clients to submit the Letter of Guaranty within 10 banking days from receipt of approval of sale.
  • If client fails to complete the transaction within the said period, the deposit is forfeited and the Bank will return the unit in its for sale pool.

Other Notes:

  • For Cash sales, payment should be made within 5 banking days upon email notification from Security Bank. Employees of SBC applying for their car plan benefit will be considered under Cash sales.
  • For LOG/auto loan, client to submit the LOG within 10 banking days.
  • If client fails to complete the transaction within the said period, the deposit is forfeited and the Bank will sell to the next highest bidder or return the car in the available for sale pool without need for further advise to the previous winner.

Disclaimer:

  • Availability of units listed is subject to change without prior notice
  • Sale is on an “As is, where is” basis

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