Newbie's 1st Car Dilemma

[Row]

Hi, I know that this is the common talks in this thread. I'm a newbie to tsikot and is weighing to get my 1st car. First, I would like to ask if its possible for someone who is earning a shade under Php20k to buy a brand new car through financing/paying monthly? Can it be sustain, despite paying for the car's gas, etc.? Also, what do you think is the best car option available? Which will you prefer a Hyundai Eon GLS or a Mitsubishi Mirage GLX? or just the eon and mirage in general. their price and their looks are just very tempting.

Thanks a lot fellows!

[GTi]

Hi, I know that this is the common talks in this thread. I'm a newbie to tsikot and is weighing to get my 1st car. First, I would like to ask if its possible for someone who is earning a shade under Php20k to buy a brand new car through financing/paying monthly? Can it be sustain, despite paying for the car's gas, etc.? Also, what do you think is the best car option available? Which will you prefer a Hyundai Eon GLS or a Mitsubishi Mirage GLX? or just the eon and mirage in general. their price and their looks are just very tempting.

Thanks a lot fellows!

Depends. How much solid cash do you have right now? How much do you spend monthly? Do you have a family to feed? How far is your daily commute?

It may be a bit hard to get a car with a 20k monthly income if you have lots of stuff to pay for. But if that 20k is mostly just allowance money, then it'll be fine. As long as you can continue to pay without fail every month that is.

Now, I'd go for either the Mirage or the Rio 1.2, depends on your preferences.

[1D4LV]

Hi, I know that this is the common talks in this thread. I'm a newbie to tsikot and is weighing to get my 1st car. First, I would like to ask if its possible for someone who is earning a shade under Php20k to buy a brand new car through financing/paying monthly? Can it be sustain, despite paying for the car's gas, etc.? Also, what do you think is the best car option available? Which will you prefer a Hyundai Eon GLS or a Mitsubishi Mirage GLX? or just the eon and mirage in general. their price and their looks are just very tempting.

Thanks a lot fellows!

you are earning a shade under 20k? that means you are only netting around 16-17k/month at most to include deductions.
as an honest opinion, you may have a hard time having to approve your loan.
second, san ka kukuha ng maintenance, fuel, toll, parking and allowance mo? on the assumption that you need to pay around 14k/month?

it would be different kung yung cost ng car would be shouldered by your parents. kakayanin mo pa siguro yung daily operating costs.

[glenn manikis]

20k your monthly budget for a car.... that includes monthly installment, gas, PMS...

medyo alanganin po.....

pero madaming factors kasi to consider, car FC... monthly payment, pms... your daily route...

others.... sa fuel palang po lang yan 20k...

unless if your getting a PUV... that you can use to earn a little going to and from the office.....

dati ginawa ko yan... nag car pool din ako... (para magkaron ng (girl) friends....) he.he..he.. babae lang pwede, with pleasing personality and free coffee... and back massage... pag TAPOS sa back massage yung front naman... JOKE....

[joemarski]

20k? alanganin nga talaga. sobrang tighten your seatbelt na.
'yun ngang college stude na bigyan mo ng allowance (pang gasolina lang ha) na 5k/mo. humihirit pa eh.
tipid pa car niya (ave. 9km/li) tapos less than 6kms lang layo ng iskul niya. pootsaaah!
matutuyuan ka talaga ng matres!!!

belive me kuyang! mabibitin ka diyan sa budget mo...
mabuti sana kung katulad ka ni sir glenn na ginagastusan ng mga bubae! jok- jok- jok!

[Retz]

^

matinik at matulis yan si sir manikis sa chiks eh.

BTT:
kindly lay down the facts such as amount if DP and monthly amortization, we will start from there. Baka dyan pa lang ligwak na ang budget mo sir.

[jodski]

Aside from payments bigyan kita sample ng expense if your route is from Alabang to Makati round trip kasama na parking

200 - Gas Allowance (depende pa ito kung gaano kalakas kumain ng gas car mo kung pwede na ganito lang)
328 - Skyway Toll Fee (2 way na at 164 per entry)
170 - average parking rate kapag 8 hours ka mag park (Ayala Triangle parking as reference)
698 - Sub Total as an average daily expense

Assuming you will use this at around 22 days in a month (average number of working days)... e di sa pagtakbo pa lang kakain na yan ng 15,356

May maintenance cost ka pa na iba kung saka sakali

Just my 2 cents ...

[Row]

Thanks guys for the inputs and apologies for the late response. How about BPI's new auto loan offering? Have you seen it? also, would you suggest getting a second hand car then? Thanks!

[jansky]

HI

I suggest you go to bank directly wag sa mga inhouse kakainin ka lang ng monthly Amortz mo ..
better if you can down around 30-40% at least mababa ang monthly for example ung SRP ng sasakyan na kkunin mo nasa 600k nag down ka ng 30% tapos 5yrs to pay your montly will be around 9k
so let us assume your net is around 17k


17-9k = 8k matitira as allowance mo for the whole month..

Unfortunately, baka mahirapan ka maaprubahan ng bank with the current income you got

going to a second hand .. two ways
1. find a seller
2. go to bank and bid

- if going to bank.. Monthly Amortz is too high and the interest rate.. why? kasi mas prone ung sasakyan sa damages



between.. Mirage pipiliin ko

[d'flash]

Sir Row, medyo mahirap yata makapasa sa bank loan pag below 20k yung income.