I'd have to agree on brand new.

Reasons:

1) If you're in it for hassle-free ownership - the moment magloko car mo, back to the dealer for repair free via warranty. You never know what's wrong with a 2nd hand car if you don't know where to look (different cars, iba-iba ang sakit)

2) Wala kang suking repairman/mechanic = you're likely to be conned by overcharging shops and repairpersons like rapide (see the long feedback/hate thread on them here).

3) We've owned a 1998 honda civic A/T for 11 years, and we haven't experienced any glaring breakdowns that weren't of our own doing. With that said, it's going back to the hassle-free ownership and taking proper care of the car. If it weren't for faulty wiring jobs back when the car was new, we wouldn't even think of disposing of the car now.

As already mentioned by some of the above, you could use the 300k for downpayment. You can check with the banks for lower financing rates naman.

As to what car I'd recommend, it would boil down to how much total you're willing to spend (down payment + aggregate monthly fees)