With the new car market expected to boom in the coming years, there's no escaping of other people who will default on their monthly payments on buying their car. So here is the top 10 vehicles that are commonly repossessed by major banks who primarily offer auto loans.
Do take note the list is accurate as of October 2014. Sources include PS Bank, Banco De Oro, UCPB, RCBC Savings Bank, EastWest Bank, Union Bank, Sterling Bank of Asia, Maybank, and BPI
1. Kia Rio
Do take note the list is accurate as of October 2014. Sources include PS Bank, Banco De Oro, UCPB, RCBC Savings Bank, EastWest Bank, Union Bank, Sterling Bank of Asia, Maybank, and BPI
1. Kia Rio
2. Ford Fiesta
3. Hyundai Accent
4. Mitsubishi Adventure
5. Ford Escape
6. Nissan Urvan
7. Nissan Sentra
8. Toyota Vios
9. Hyundai Eon
10. Ford Everest
11. Toyota Innova
12. Mazda 3
Based from the vehicles above, Ford dominated with three vehicles but do take note that the Escapes we found are mostly 2012 and 2013 models, Everests which are mostly the 2009-2013 models but some post facelift ones are being sold, and Fiestas that are the pre-facelift especially good deals are to be found here. Hyundai had two cars each, same with Nissan and Toyota and one for Mitsubishi and Kia. Most of the vehicles are cheap to buy due to low down promotions thrown by dealers, which is the main cause of these vehicles being commonplace on the repo lot.
Here are the other runner ups which can be seen in this PDF file.
If you want to buy one, go to this used car buying tip.
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