Buy a New Car and Trade-In the Old Ride

**3GEMS** · April 17th, 2012 01:46 AM

Originally Posted by Gecko Guy

*egems: There's no such thing as financially safe when you're paying a mortgage but I get your point. If you're eyeing for a 15K/monthly x 5 years then I would say that having 500K to 1M alloted for the mortgage alone will be safe enough for me. If your plan is to sell your current ride + add cash to make the dp...then make sure that you have at least 3-6months money for your mortgage safely tuck in no matter what, otherwise you will be living on the edge most of the time and it's stressing. HTH

scenario is.. plan to get 1M worth car included na lahat...
plan is DP 40-50%... 400-500k
savings matitira mga 100k sa bank labas diyan mga kahayupan sa province(ex baka, kalabaw haha)
monthly income 40 k net... walang utang
car amort 15k x 5 years

safe na kaya yan?? mahirap kasi yung bubudget mo yung monthly income mo na sakto lang... tama ka ayaw ko yung mastress ka dahil sa pagbabayd ng sasakyan gusto ko comfortable parin sa buhay...
kung sakali first namin maghulugan...

**GTi** · April 17th, 2012 10:01 AM

So ang meron kang pera on hand ngayon is at 400-500k, tama ba? Since that is the amount that you will spend for the DP? I always advise people to stay away from amortizations lalo na kung 5 years to pay pa yan dahil sa laki ng dagdag, ang laki ng loss mo diyan. I suggest you look for a more or less 500k worth 2nd hand car instead, yung tipong mataas taas ang resale value. Some choices would be the Civic FD ("not bad" resale value) or the 3rd gen diesel Revo (very high resale value). If you want you may save some more for a few years and then go all out with a much better brand new car with which you can pay in whole. Lalo na with the Revo, if you keep it in good condition, in a couple of years you'd probably be able to sell it for pretty much the same price you got it!

**renzo_d10** · April 17th, 2012 10:14 AM

Ako financially safe na kung may pera sa bangko sa kaya magshoulder ng atleast 6 months of amortization ng kotse. Within 6 months naman kasi usually nakaka-bangon ulit yung affected.

Syempre labas don yung talagang savings for the family. So kung 15k/month x 6 = 90k. Tapos savings for family mga 60k. Atleast, 150k should be somehow safe.

500k dp is actually pretty high already, why not take a look at cheaper vehicles instead? Like the Altis, Elantra etc.

Or atleast grab Mitsubishi's offer -- 1.1M for a brand new montero.

Usually pinakamaganda financing is around 2-3 years. Paying in cash is still not good though

**yapoy86** · April 17th, 2012 10:38 AM

maliit lang halos kita ng bank dyan.. for example yung kinuha ko.. for 5 years 172k lang ang kita nila sa total loan amount ko na 640k.. not bad for 5 years.. hindi ka pa bigla mawawalan ng cash di ba.. magagamit mo pa din yun... ok mag loan kung steady naman ang kita mo .. pero kung hindi ..wag na lang

**Gecko Guy** · April 17th, 2012 11:30 AM

Originally Posted by 3GEMS

scenario is.. plan to get 1M worth car included na lahat...
plan is DP 40-50%... 400-500k
savings matitira mga 100k sa bank labas diyan mga kahayupan sa province(ex baka, kalabaw haha)
monthly income 40 k net... walang utang
car amort 15k x 5 years

safe na kaya yan?? mahirap kasi yung bubudget mo yung monthly income mo na sakto lang... tama ka ayaw ko yung mastress ka dahil sa pagbabayd ng sasakyan gusto ko comfortable parin sa buhay...
kung sakali first namin maghulugan...

*3gems: If that's your plan and you're planning to shell out 50% dp (400-500K) I agree with what GTI said...Go get a 2nd hand car that is well taken cared of (at least 3 years old) it will save you the hassles of paying mortgage for a long time, it will still look bnew, less trouble and you have peace of mind (wala ka utang)
However, if you really want a bnew car, then you can do this:
- make 50% dp but pay it only in 1-3 years (as what renzo said)
- make 20-30% dp then stretch it to 5 years (what is left of the 500K initially will be enough to cover your mortgage for at least 6months) assuming that you have that 500K in your hand already.
By doing this you still have the extra money from your old car and your lifestyle will still be the same more or less.

**3GEMS** · April 17th, 2012 03:14 PM

actually assessment and planning phase palang kami...
naisip ko lang kumuha ng 7 seaters na sasakyan kasi kawawa yung crv namin pag may umuwing balikbayan laging over capacity hehe... very reliable naman crv comfort wala ako masabi...

wala pa naman kami ganun kalaking pera sa bank yung 300k assuming mabenta namin yung crv well maintained yung 200k kaya naman produce yun anytime... and stable naman income namin walang binabayarang kahit anung utang
siguro ipon muna mga one year para sa 150k..
napag isip-isip ko yung nagbabayad ng 5 years car amort ang titibay ng loob hehe..

**GTi** · April 17th, 2012 05:10 PM

Originally Posted by 3GEMS

actually assessment and planning phase palang kami...
naisip ko lang kumuha ng 7 seaters na sasakyan kasi kawawa yung crv namin pag may umuwing balikbayan laging over capacity hehe... very reliable naman crv comfort wala ako masabi...

wala pa naman kami ganun kalaking pera sa bank yung 300k assuming mabenta namin yung crv well maintained yung 200k kaya naman produce yun anytime... and stable naman income namin walang binabayarang kahit anung utang
siguro ipon muna mga one year para sa 150k..
napag isip-isip ko yung nagbabayad ng 5 years car amort ang titibay ng loob hehe..

If you don't need the speed naman, OK na siguro ang Revo diesel. Of course like a typical AUV, it's rather slow, not very comfortable and somewhat loud. It's not as fuel efficient as the Crosswind nor as "rev happy" or refined as the Adventure but it strikes a nice compromise between the two. When well maintained, it's not very prone to black smoke unlike the Crosswind, is well capable of climbing inclines unlike the complaints of some Adventure owners. Interior room is adequately comfortable for 9 passengers (1st row center is rather cramped and has limited legroom due to the transmission tunnel and lever.) The 3rd row is actually quite spacious as AUV or even SUV 3rd rows go. People at around 5"10 or so can still fit without bending their heads.

Or, you may consider the Turbo Intercooler Starex. You get much more punch and comfortable room for 10. It's still not as fast as your CRV but your family will enjoy the ride comfort much more.

**3GEMS** · April 17th, 2012 09:47 PM

Originally Posted by GTi

If you don't need the speed naman, OK na siguro ang Revo diesel. Of course like a typical AUV, it's rather slow, not very comfortable and somewhat loud. It's not as fuel efficient as the Crosswind nor as "rev happy" or refined as the Adventure but it strikes a nice compromise between the two. When well maintained, it's not very prone to black smoke unlike the Crosswind, is well capable of climbing inclines unlike the complaints of some Adventure owners. Interior room is adequately comfortable for 9 passengers (1st row center is rather cramped and has limited legroom due to the transmission tunnel and lever.) The 3rd row is actually quite spacious as AUV or even SUV 3rd rows go. People at around 5"10 or so can still fit without bending their heads.

Or, you may consider the Turbo Intercooler Starex. You get much more punch and comfortable room for 10. It's still not as fast as your CRV but your family will enjoy the ride comfort much more.

no to revo, crosswind and no to adventure family ko sorry pero ayaw namin nung porma eh and gusto talaga nila brandnew na pero hindi naman kami nagmamadali very reliable naman sasakyan namin ngaun kulang lang minsan sa space...
starex medyo malaki naman para samin and mukhang mahirap pag city driving malapad perfect talaga samin is innova..

Thanks mga nag reply kung papalarin this xmas sana or next year...

**renzo_d10** · April 17th, 2012 09:58 PM

Originally Posted by 3GEMS

no to revo, crosswind and no to adventure family ko sorry pero ayaw namin nung porma eh and gusto talaga nila brandnew na pero hindi naman kami nagmamadali very reliable naman sasakyan namin ngaun kulang lang minsan sa space...
starex medyo malaki naman para samin and mukhang mahirap pag city driving malapad perfect talaga samin is innova..

Thanks mga nag reply kung papalarin this xmas sana or next year...

Innova E.

It's more than enough.

**GTi** · April 18th, 2012 12:55 AM

Originally Posted by 3GEMS

no to revo, crosswind and no to adventure family ko sorry pero ayaw namin nung porma eh and gusto talaga nila brandnew na pero hindi naman kami nagmamadali very reliable naman sasakyan namin ngaun kulang lang minsan sa space...
starex medyo malaki naman para samin and mukhang mahirap pag city driving malapad perfect talaga samin is innova..

Thanks mga nag reply kung papalarin this xmas sana or next year...

Haha~ If you are financially capable naman for brand new, eh di walang problema. Dun sa Starex, its not actually as big as you think. They just made clever use of the available space. The much shortened hood gave way for much more cabin room. If you look into its dimensions, you will see that it is only slightly larger than the Innova and about just as big as the Fortuner. Also, even with an old Starex, basta Millenium look and above and in good condition, you would always look upscale in it. As you're riding it, you'd feel upscale too. This sort of feel is not something you find in many cars, even those much more expensive than this one.

The Innova is a very good car. The modern D4D engine gives decent performance and excellent gas mileage and it's got a tough underchassis beneath that modern look. But some advice lang sayo. If you are thinking of filling all three rows with people most of the time, the Innova's 3rd row is very cramped, there's not much legroom to speak about. Ride quality is rather harsh too, especially if you're expecting it to behave like the minivan that it tries to look like. In fact I'd describe the ride as SUV-ish.
Not even CUV-ish, traditional SUV-ish.

If you are hell bent on getting an Innova though, I'd agree with bro renzo that the E variant is the best. You get all power amenities and the utilitarian grey interior. The wood trim isn't exactly home to this sort of car, and beige is a pain to clean.