To BUY or NOT to BUY a Car

[dindop]

First of all, I didn't know I will get overwhelming support and opinions from the community, thank you!

To address some questions:
- She lives on her own, 5k apt with garage, utilities she bears on her own.
- She works night shift, hence the yearning for a personal transport. Though her apartment is les s than 10k to and fro. Safety is her primary concern.
- Company loan is out of the question because it is not a benefit she gets.
- The 40k is total take home per month, tax deductdd already.
- She is clueless with cars thats why she wants a new one. Not purely because of status symbol.
- She lives alone, siblings and parents nasa US na, mejo di sila close, so no lifeline.
- Umiiwas ako na makita at mahikayat cya sa low down, I am showing her na minsan aabot ng almost 50% ang interest ng ganun lalu na kung in house.

Papabasa ko sa kanya lahat ng inputs nyo folks, don't worry she can take the criticism.

Also, let us keep this alive, mukhang maraming mga taong nasa ganitong predicament.

40k net... teka ha... eto mga guesstimate ng monthly costs...

5k apt
4k kuryente + water
1k dsl
1k cable
1k cp
5k gas
3k (monthly prorated comp ins + maint ++)
6k food

so 14k for savings + gimmick + (disposable income=100% for the car MA)

13k ba kamo ang MA, so 1k per month for savings and gimmick...


parang di ok ah....

[Walter]

OT: How about find a boyfriend with a car while saving up for a car?
Or she could try to live closer (walking distance) to where she works (even if the rent is higher she'll still save money compared to buying a car).

[renzo_d10]

Tell her to save until 2nd quarter of next year. Then buy a 2nd hand car in CASH.

And the cars I could suggest to her are the ff:

1. Kia Picanto AT
2. Toyota Corolla Lovelife AT
3. Chevrolet Spark MT
4. Chevrolet Aveo AT
5. Suzuki Celerio AT
6. Suzuki Alto MT
7. Hyundai Getz AT

Of course there's no safe year for cars. Just check which has the best condition. All the cars above are priced under 300k. Best if she gets something cheap and is cheap to run as well.

[basti08]

Buy a Mirage :D Cheap, has ABS, Airbags and alloys (on GLS)

20% dp is attainable if she earns like the figure you said.

But I suggest she don't go for the 'all-in deals' of most dealers. Try to do it on a direct to bank transaction. Interest is much much lower.

[dr. d]

yes, i would recommend the base mirage only. kung may paglalagyan lang ako ay pihadong ako rin, mag-rereserve na..