Brand New, Repossessed or 2nd Hand?

[tsik_r2d2]

the last line. you are answering your own question, sir.
heh heh.

seriously,
brand new is preferable, but only if one can afford it, and/or you are not skilled enough in making your money work for you.

personally, a ground clearance advantage of 1 - 2 inches, is not much of an advantage, when it comes to wading thru floods.

Thanks for the usual helpful thoughts, doc! Always appreciate it.
Hmm, actually, I do have another choice - 2010 Montero GLS for 650k - only 40-50k mileage.
Will that be a better choice?

[tsik_r2d2]

seriously,
brand new is preferable, but only if one can afford it, and/or you are not skilled enough in making your money work for you.

if I'll have it thru financing - does that mean I can't afford it and purchasing a 2nd hand worth a bit more than my downpayment (let's say around 300-400k) a better choice?

[mylesvv79]

Good question, as Im also considering buying a repossessed car. But the real question is mas sulit ba to buy from repossessed kesa brand new na paglabas ay 10% less na ang value BUT wala sakit ng ulo?

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[dr. d]

if I'll have it thru financing - does that mean I can't afford it and purchasing a 2nd hand worth a bit more than my downpayment (let's say around 300-400k) a better choice?

"can afford" means many things to many people.
you will have to sit down, sir, and do some serous numbers crunching.
if the outcome is 10K pesos a month spending income left for you and yours to live with...

[tsik_r2d2]

"can afford" means many things to many people.
you will have to sit down, sir, and do some serous numbers crunching.
if the outcome is 10K pesos a month spending income left for you and yours to live with...

wow 10k! Kayang Kaya! -NEDA

Kidding aside, thanks again for the help, dr. d!
Looks like my wife is leaning towards a second hand 2009 montero GLS over a bnew Xpander.
My only concern is the car may be too big to handle for a noob driver like me.

[dr. d]

wow 10k! Kayang Kaya! -NEDA

Kidding aside, thanks again for the help, dr. d!
Looks like my wife is leaning towards a second hand 2009 montero GLS over a bnew Xpander.
My only concern is the car may be too big to handle for a noob driver like me.

"how do you know it is too big to handle, when you have no experience to compare it against?"
get an innova. it's a bit smaller, and may be cheaper.

[icayganda]

sorry baka off topic, ano po ba yung mga documents na dapat namin ma received pag nakuha na namin ung repossessed car?
Kumuha kami sa psbank and waiting na lang kami na ma release ung car, pero naka finance un, 50% depost kmi tas 3 months to pay yung kinuha nmin.
first time buyer kasi. thank you!

[sirkosero]

DOS lang pati kung fully paid certificate ng cancellation ng mortgage

sorry baka off topic, ano po ba yung mga documents na dapat namin ma received pag nakuha na namin ung repossessed car?
Kumuha kami sa psbank and waiting na lang kami na ma release ung car, pero naka finance un, 50% depost kmi tas 3 months to pay yung kinuha nmin.
first time buyer kasi. thank you!

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[icayganda]

DOS lang pati kung fully paid certificate ng cancellation ng mortgage

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cge po salamat!

[Haiz]

I just came from the vehicle stock yard of Chinabank located here along Jupiter street in Makati. I was out hunting for a used Pajero ...

Anyway, the lot/yard was full of repo'd small cars, name it, they have it. Mirage, Wigo, Elantra, etc. etc.

You may want to check it out.

How about suvs?