Don’t Buy a Car from the Ark Vehicle Trading Until You Read This

If you are thinking of buying a car from the Ark Vehicle Trading and General Merchandise, you need to read this review first.

Zero percent interest. Ten percent discount. Low monthly amortization.

These are the promises of Ark Vehicle Trading, if you’ll purchase a car with them.

Sounds too good to true, right? Well, let’s see if Ark is indeed true to its advertisements.

In this review, you will learn how Ark is making money to finance its car dealership business. Also, you will know whether Ark’s business model is legit or a scam.

Keep reading.

Company Profile

Ark Vehicle Trading and General Merchandise prides itself as the first online auto dealership that caters to any brand in the Philippines. It is an SEC-registered company with registration #CS201716755.

Aside from cars, the company also offers motorcycles.

Romy Alburo, a pastor, founded Ark Vehicle Trading in 2017. Alburo says the company wants to help every Filipinos to have their dream car without worries.

So, it was named after Noah’s Ark.

How to Get a Car or Motorcycle With Ark Vehicle Trading’s

  1. Inquire about their program. Get in touch with their certified agents.
  2. Submit all the requirements and deposit your initial down payment. Ark’s accredited agents will assist you during the whole process.
  3. You will receive a message or call from the bank once your application has been approved. The dealership will also contact you once your unit is available.
  4. Go to the designated dealership together with our certified agent and manager and deposit the remaining balance of the downpayment. You just need to fill up the release forms. Then, you can drive off with your brand new vehicle.

Ark Vehicle Trading Sample Computation

Perhaps Ark Vehicle Trading and General Merchandise offers the lowest car financing in the Philippines. Just look at this post from their agent.

Ark Vehicle Trading and General Merchandise Sample Computation Review Legit or Scam

To be exact, a Toyota Wigo will only cost you Php579,390. The amount is the sum of the down payment of Php186,900 plus total monthly amortization for 60 months of Php392,490 (6,452 x 60).

The figure is net of 10% discount {(Php623,000-Php186,900) x 10%} and no interest will be charged.

With this computation, we can assume that Ark Vehicle Trading is true to its promise; zero percent interest, 10% percent discount, and low monthly amortization.

Considering that Ark is not charging interest while giving free money with its 10% discount, we can conclude that its car dealership is operating at a loss.

To compare, we tried BDOs car loan calculator to determine how Ark’s policy differ from the market.

Sample Car Loan Computation from BDO compared to the Ark Vehicle Trading and General Merchandise

Spot the difference!

In BDO, the real price of your Toyota Wigo is Php754,980 inclusive of interest (average of 30.26% for 5 years). This includes the sum of the down payment (Php186,900) and total monthly amortization (Php9,468 x 60 months).

The difference between the market price of Php754,980 and Ark’s price of Php579,390 is huge. With this price, people are enticed to avail of Ark Vehicle Trading’s offer while it earns no interest and loses money from the 10% discount.

And don’t forget! Ark pays its agents too.

But, how could Ark afford to operate a car dealership business when its pricing policy is clearly at a loss? Why would Ark continue operating a business model that is losing money?

Read the succeeding paragraphs and find out.

How Ark Vehicle Trading and General Merchandise Makes Money

Ark makes money from the down payments of buyers.

For instance, if you want to purchase a vehicle and give a down payment of 30% of the price to Ark, it will retain the 20% and pay only the 10% as an initial payment to the bank.

Generally, approval with Ark is straightforward. Anytime during the day, your application could be approved. However, your loanable amount still needs to be approved by the bank.

This time, agents will tell you that if the bank asks how much your down payment will be, you should say a percentage below your down payment to Ark. For example, tell 10%, if your down payment to Ark is 30% or say 20% if your down payment is 40%.

Once approved and the vehicle is released, you pay the low monthly amortization to Ark while it pays the high monthly amortization to the bank.

What happened to the down payment kept by Ark?

According to the agent we interviewed, Ark uses the money to finance its other businesses. Income from these ventures is used to finance your discounted and interest-free vehicle.

And wait! Don’t you know that agents are making a lot of money too? Where are their commissions sourced? From other businesses?

Ark must be operating very profitable “Other Businesses”. What do you think?

Is Ark Vehicle Trading and General Merchandise Legit or Scam?

We believe Ark Vehicle Trading and General Merchandise is a scam.

The fact that the company retained a down payment from you instead of paying it all the to the bank is clear evidence that it solicits investment from the public.

The public is promised of discounted vehicle price and zero interest if they let Ark uses their money. It uses the retained down payment either to finance its other businesses, pay the agents or finance the monthly amortization.

While Ark is registered as a Corporation, we cant’ find evidence that it has a Secondary License to sell investments to the public. Hence, we call it an investment scam.

Moreover, there is a chance Ark is operating as a pyramid scheme. If it is using your down payment to finance the amortization of earlier car buyers, then we can conclude that is a pyramid scheme.

Furthermore, we’ve seen complaints on their Facebook page from people who haven’t received their OR/CR yet. These complaints were left unanswered and should serve as a red flag before transacting with them.

Conclusion and Recommendation

It is too good to be true, it probably is.

We recommend you stay away from the Ark Vehicle Trading and General Merchandise. We think it is a scam.

Based on the information we gathered, it is soliciting investments from the public in the form of down payments for vehicles. However, a portion of these down payments are retained and are used in the company’s operation.

People who purchased vehicles from the subject company are promised of discounted price and zero interest plan.

In addition, we believe the company is operating as a pyramid scheme where the amortization of the earlier buyers is taken from the down payments of new customers.

If you are victim of Ark, we suggest you report your case to the SEC.

What are your thoughts on Ark Vehicle Trading and General Merchandise? Share them in the comment section below.

32 thoughts on “Don’t Buy a Car from the Ark Vehicle Trading Until You Read This”

  1. I also inquired about sa company regarding sa cash basis nila, just to avail of their 10% discount. The agent told me na ang palalabasin namin is instead of paying the cash minus the 10% discount sa dealer I will have to pay 30% down payment sa dealer and will still be base financing scheme by Ark pero ang malabo I will pay the total cash prize to Ark ang they will pay the monthly amortization. Bakit? Kaduda duda di ba San mapupunta and pinaghirapan Kong ipunin. Dun pa lng nagduda na ako at Di ko na sumagot si agent ng Ark.

    Reply
  2. Agreed po sainyo na malaking tulong si Ark.
    Let me address and allow me to correct sa nagsulat po ng article na ito; ang OR/CR ay nakukuha from the dealer not from Ark. You should/must know na ang OR/CR which is nakapangalan ke client ay sa dealer DAPAT KUNIN. FYI ang The Ark Vehicle Isabela Branch (5th branch)ay bagong bukas kahapon and more branches to be opened soon. Scam si Ark is an understatement so If you have any questions about legality of the company I think you must go directly sa abogado ng The Ark Vehicle.

    Reply
    • Read again.

      The fact that the company retained a down payment from you instead of paying it all the to the bank is clear evidence that it solicits investment from the public.

      The public is promised of discounted vehicle price and zero interest if they let Ark uses their money. It uses the retained down payment either to finance its other businesses, pay the agents or finance the monthly amortization.

      While Ark is registered as a Corporation, we cant’ find evidence that it has a Secondary License to sell investments to the public. Hence, we call it an investment scam.

      Moreover, there is a chance Ark is operating as a pyramid scheme. If it is using your down payment to finance the amortization of earlier car buyers, then we can conclude that is a pyramid scheme.

      Reply
  3. If they will be able to explain their scheme on how they will sustain their payments for your amortization for the 5 years, then, well and good. However, those that I have talked to said it is a “trade secret”. Indirectly, you’re investing your money to them, since your DP to them is higher than the amount of DP they will pay to the dealer. Right? So you have the right to know where will your money go. Also, they should have a secondary license from SEC because in essence they are soliciting investment. They have a technical / legal issue on this.

    Reply
  4. May inquiry ako sa cash basis payment if sa or cr nakapangalan eh ang may ari and. Wala na po ba nakalagay na encumbered Since nabayaran na in full.

    Reply
  5. This review is so true, based sa experience ko noong isang araw lang, May 12,2021. Muntik na ako mabiktima ng DIGICARS AUTO TRADING, which ang owner ng business is dating empeyado ng ARK , bumuo siya ng sarilin niyang Scam Company, same lang sila ng process, ang pinagtakahan ko is noong sinabi niya sa akin na wag o daw ipapaalam na tinutulungan ako ng DIGICARS kasi daw baka di ako maaprovan sa CI, then noong araw na ilalabas na yung sasakyan sabi niya magkita daw muna kami sa isang location bago kami pumunta sa dealer para ma-buid daw yung TRUST. Sabi ng agent sakin, bale dalawang beses daw ako magdadownpayment sa dealer, yung unang downpayment is kung magkano ang dp ng dealer, then sa natitirang pera mo from 50% ihuhulog mo ulit as dp sa dealer, ( which is one time lang naman dapat ang dp, bale yung 2nd dp is hulog mo na ng monthly doon sa dealer ang labas. Then sabi niya hindi na daw dapat ako magworry about sa monthly amortization ng sasakyan dahil kung magkano ang babayaran monthly sila na ang magbabayad sa dealer, then ako magmomonthly naman ako sa DIGICARS ng ayon sa quotation nila which is a lot less dahil sa “no interest, low amortization” promise nila. Doon na ako nagtaka , at wala pa kaming document na panghahawakan na ako at ang digicars ay may transaction, ibig sabihin ako lang ang liable doon sa dealer at walang ebidensiya na ma transaction kami ng digicars. Di mo na alam kung naghuhulog pa ba si DIGICARS sa dealer ng monthly amortization , magugulat ka na lang hihilain na ang sasakyan mo.

    Payo lang po, mas magandang gumastos ng mas mahal sa LEGAL na paraan kaysa patulan ang mga offer na hindi makatotohanan.

    Reply
  6. Yes, too good to be true. How can a business sustain its operations with zero interest and 10% discount? Also, it’s registration is vehicle trading and general merchandise but they are not operating in car dealership but technically, more of financing

    Reply
  7. kawawa po itong taong ito…
    Bka po itoy natanggal lng.o wlng kkyanng mgdown ky Ark.

    Cliente po ako…malaki ang tulong na bnbgay ni ark…..kng sa mliit kng mnthly sa kotse ko ky nhhirapan ako pno kya kng drecta akng ngbbyad sa banko?edi nbtak n sskyan ko….
    Ang or cr ko nmn hwak ko…..
    Bkit cnicraan mu c Ark?di kba ntulungan?
    Naapakan ba pagkatao mu sr?

    Reply
    • Agreed po sainyo na malaking tulong si Ark.
      Let me address and allow me to correct sa nagsulat po ng article na ito; ang OR/CR ay nakukuha from the dealer not from Ark. You should/must know na ang OR/CR which is nakapangalan ke client ay sa dealer DAPAT KUNIN. FYI ang The Ark Vehicle Isabela Branch (5th branch)ay bagong bukas kahapon and more branches to be opened soon. Scam si Ark is an understatement so If you have any questions about legality of the company I think you must go directly sa abogado ng The Ark Vehicle.

      Reply
    • Bro hindi lahat ng tao nagpapa uto Yung iba sa kanila marunong mag research at hindi mga mangmang! Lamang ang may alam.

      Reply
  8. Ako cstomer ni Ark sa 4wheels 2yrs na…ang masasabi ko lng syo sr legit c ark at maraming natukungan…ang copy ng or cr nasa akin….prng palyado nmn po cnsabi nyo hlatang paninira.
    Nkapagavail kpo ba ng motor o kotse ky Ark?kng wla, tunay k ngang naninira..

    Dati po ba kyong emplyado o ahente ni Ark kng oo gumagante lng po kyo sa praang paninira dahil cguro ntnggal kyo sa anumlyang nagawa…my mga nrinig po kmi n gnun…..
    Sorry po sr…cliente lng po ako..
    Masaya po ako na ntutulungan ni Ark

    Reply
    • Kung legit yan, nasan ang proof nila na may natapos na silang bayaran sa mga clients nila? Wala naman sila pinopost. Puro low monthly at 0% tas 10% discount lang.
      Maniniwala rn akong legit yan kung sa Ark Vehicle mismo nakapangalan ang OR/CR para in case hindi sila nag bayad sila ang habulin at hindi ang client.

      Reply
  9. Or/cr binibigy po yan after mabayaran ng sasakyan pag fully paid na.
    Xerox po qng ihibigy ang ang CASA nag mismong magbibigy doon hindi po ang the ark

    Reply
      • Ok sabihin n ntin legit to di ba 2017 nag start yan so if motor ang kinuha nila dapat tpos na motor na hinulugan so dapat 2020 tpos. ang gusto namin makita or malaman ay mah testimony yun mga nkafullypaid na sa motor. dapat madaming mag testimony kasi if ganyan kamura tyak patok yan. ngayon asan ang mga nakatapos n sa motor mag testimony kayo.

        Reply
        • Isa po aku sa natulungan ni ark aku mismu nakita ku mga legal papers ni ark na nag papatunay na hindi sya scam. Pangalawa hindi sya makakakuha ng office sa isa sa mga building sa ortigas kung wala syang mapapasang mga legal documents. Same din po sa mga bank accounts ni ark. Hindi naka pangalan sa tao o sa may ari kundi nakapangalan sa company mismu so may credibility si ark na pinag katiwalaan mismu ng mga banks. Tas ikaw di ka maniniwala so magaling ka pa pala sa mga mayayaman dyan hahahahaha

          Reply

Leave a Comment