For round 3, 52 competitors took the wheel at the GT5 Challenge virtual time-attack competition at the 2012 Trans Sport Show. Sponsored by BMW Philippines, competitors took the BMW M3 Coupe on the fast Grand Valley East Circuit in Gran Turismo 5.

It was a very fast and exciting laps at round 3 as Pierce Loyola set a blistering 1:11.729 very early into the competition, virtually setting himself up on the top spot remaining unchallenged for the most part of the day. Most of the competitors were lapping in at 1:17's; coming into mid afternoon, Joel Erickson Urbi clocks in the closest time of 1:12.134, still unable to eclipse Loyola's time. Shortly after, Daryl Brady arrives to shake up the competition, however he only managed a time good enough for third on his first stint with a high 1:12.627; convinced that he can still take the the top spot, Brady makes his buy-in run to set a 1:11.236 time. Loyola, who was shaken by Brady's pace immediately set himself up for hi buy-in run to attempt to get back on top, however close, his pace was not enough to match Brady. Still uncontented with his runs and convinced that the fastest laptime should be within the 1:10's, Brady made another buy-in attempt to break his own record run, he set a 1:10.720 lap which sealed his victory to earn himself the top spot.

Round 3 winner Daryl Brady

The final standings ended with Daryl Brady in 1st, Pierce Loyola in 2nd, and Joel Erickson Urbi in 3rd. The winners advance to the Final 16 round on Sunday.

The top three winners received gift packs from Asian Carmakers Corporation (BMW Philippines), Motul, Mothers Philippines, mousepads, Remixx Clothing gift certificates, while the first and second place winners also received gift certificates from VHT.

The GT5 Challenge 2 was supported by Virtual Racing Rentals, Nissan Motor Philippines Inc., Toyota Motor Philippines Corporation, Asian Carmakers Corporation (BMW), Honda Cars Philippines Inc., Mitsubishi Motors Philippines Corporation, VHT, Mothers, Remixx Clothing, and Motul.