Need help on whether I should buy a car directly from the dealer or from the bank!?

Will need to finance 400,000 pesos over a period of 36 months. This is a comparison of each:

THROUGH DEALER:

5,000 discount on downpayment

Some freebies that cost about 15,000

14,208.84 pesos payment for 36 months, 28.2% rate

THROUGH BANK:

No discount

No freebies

13,163 pesos payment for 36 months, 18.26% rate

I guess my question is whether the freebies/discount from the dealer are enough to offset the lower financing from the bank, considering present (or future?) values. Also there might be some other intangibles/factors that I should consider that differentiate the two.

Need help on whether I should buy a car directly from the dealer or from the bank!?

That extra 1,000 pesos a month for 36 months does all the math for you, in this case. You already put 5,000 down, so the payments should have been lower than the banks payment schedule. Your 15,000 pesos worth of freebies are going to end up costing you about 36,000 extra pesos over the life of the loan.

Quite simply, tell the dealer where he can shove his financing and run dont walk to the bank. Unless you feel like paying a lot more for your car than you need to.

Need help on whether I should buy a car directly from the dealer or from the bank!?

Go with the bank. The lower rate is the prime thing to consider. You will be paying less per month and in the long run. If you go throught the dealer you will pay way more at the end of 36 months, a lot more. The freebees dont add up to saving money at the end of 36 monthes.