Mechanics of Purchasing of Pre-Owned Vehicles

If Offering at Selling Price:

  • If desired purchase price will be at the Selling Price, may immediately award if the unit is tagged as ‘available’ as of the time of your offer.
  • Fastest offer received with complete documents and payment of non-refundable reservation fee/deposit of PHP 10,000.
  • 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 return the car in the available for sale pool.

If Offering Below Selling Price:

  • Upon receipt of notification as highest bidder, Security Bank to require the following within 2 days:
    • Deposit of 10,000 earnest money
    • Duly filled-up buyers information sheet
  • If desired purchase price is lower than selling price, clients may join the bidding process where the minimum offer is the floor price.
  • Offers may be submitted by filling out the standard Offer Sheet (Auto).
  • Once accomplished, you may send the form via email at cbalute@securitybank.com.ph cc. ygo@securitybank.com.ph or facsimile at 633-0533 c/o Chrisline Balute. There should be one bid form per unit.
  • Ms. Balute will acknowledge receipt of email within 2 banking hours upon receipt. If no email was received from Ms. Balute, please call (02) 867-6788
  • Deadline for the week is Friday 3 PM.
    • Tabulation will be done every Friday (except holidays). If Friday is a Holiday, tabulation will be done on Monday.
    • Results will be announced within 3 banking days after each tabulation. All winning bidders/selling price awardees are notified accordingly.

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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