Buying my first car in 2020

[Deestone]

Right now I have this 2018 Brio Amaze. 11k odo, Newly change oil (xteer + vic), new windshield tint (vkool) w/ 1yr comprehensive insurance and next year renewal of car registration. I have been using this vehicle recently and no problem whatsoever. Let me know if you are interested and I'll just use my bike going to and out of my office.....

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[dr. d]

Right now I have this 2018 Brio Amaze. 11k odo, Newly change oil (xteer + vic), new windshield tint (vkool) w/ 1yr comprehensive insurance and next year renewal of car registration. I have been using this vehicle recently and no problem whatsoever. Let me know if you are interested and I'll just use my bike going to and out of my office.....

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actually,
mas interesado ako sa altis ni ninja.
lalang. i'm a sucker for the three ovals.
heh heh.

[12vdc]

Right now I have this 2018 Brio Amaze. 11k odo, Newly change oil (xteer + vic), new windshield tint (vkool) w/ 1yr comprehensive insurance and next year renewal of car registration. I have been using this vehicle recently and no problem whatsoever. Let me know if you are interested and I'll just use my bike going to and out of my office.....

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Why so soon bro? I have a tern folder in the trunk and my next project and i think the future is folder e-bike or e-scoot.

I bet TS would benefit much from aftersales support from fellow tsikoteer. Basta tsikoteer garantisabog maayos ang sasakyan. hehe

[Deestone]

Why so soon bro? I have a tern folder in the trunk and my next project and i think the future is folder e-bike or e-scoot.

I bet TS would benefit much from aftersales support from fellow tsikoteer. Basta tsikoteer garantisabog maayos ang sasakyan. hehe

Well, just trying if someone wants to buy this vehicle if not then its ok I'll keep it for awhile since it is not transferred yet to me. Oh yes most definitely buyer can be assured vehicle is well taken care of.

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[jut703]

Lots of cheap cars less than 3 years old for sale now - many people are defaulting on their loans because of the economic downturn. Perfect time to go secondhand car shopping (as long as you know what you're doing).



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[Deestone]

Lots of cheap cars less than 3 years old for sale now - many people are defaulting on their loans because of the economic downturn. Perfect time to go secondhand car shopping (as long as you know what you're doing).



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Those are bank repossess units if they auctioned or sell it at a low price will they not lose money? Because they already paid it in full to the car dealer.

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[babkalakal]

Those are bank repossess units if they auctioned or sell it at a low price will they not lose money? Because they already paid it in full to the car dealer.

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usually banks work with a sealed bid manner. i don't think they will often sell a car at a loss. keep in mind previous owner already forfeited probably several months if not years of amortization. they also stand to earn a lot again if the bidder decides to pay via bank financing route.

[Deestone]

usually banks work with a sealed bid manner. i don't think they will often sell a car at a loss. keep in mind previous owner already forfeited probably several months if not years of amortization. they also stand to earn a lot again if the bidder decides to pay via bank financing route.

Yes bank financing interest rate will be much higher for 2nd hand vehicles.

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[dr. d]

usually banks work with a sealed bid manner. i don't think they will often sell a car at a loss. keep in mind previous owner already forfeited probably several months if not years of amortization. they also stand to earn a lot again if the bidder decides to pay via bank financing route.

these cars have a base price, "to ensure that the bank does not lose money" over the transaction.
it is usually just a continuation of the previous owner's payments, which is a reflection of the car's depreciation...
a friend who has a friend in the industry, says that the good buys are first alok-ed to the bank employees. what is left behind is what is auctioned off to the unsuspecting public.

[babkalakal]

these cars have a base price, "to ensure that the bank does not lose money" over the transaction.
it is usually just a continuation of the previous owner's payments, which is a reflection of the car's depreciation...
a friend who has a friend in the industry, says that the good buys are first alok-ed to the bank employees. what is left behind is what is auctioned off to the unsuspecting public.

all correct sir but in the absence of other bidders there are times (but rarely) when the bank will still sell the car to the lone bidder even if the offer is below the starting bid price.

[Egan101]

Lots of cheap cars less than 3 years old for sale now - many people are defaulting on their loans because of the economic downturn. Perfect time to go secondhand car shopping (as long as you know what you're doing).



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Yep, there are good finds in the repo lot. You just need to check them.


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[dr. d]

Lots of cheap cars less than 3 years old for sale now - many people are defaulting on their loans because of the economic downturn. Perfect time to go secondhand car shopping (as long as you know what you're doing).



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let the buyer beware.

those prices are just for the cars.
everything else is extra.

[babkalakal]

let the buyer beware.

those prices are just for the cars.
everything else is extra.

auctions are also one way to possibly score a bargain. same rules apply when buying second hand get someone you trust to inspect the unit before bidding.

[dr. d]

auctions are also one way to possibly score a bargain. same rules apply when buying second hand get someone you trust to inspect the unit before bidding.

auctions of pre-owned cars are even trickier.
many times, even the bank does not know of the condition of the car.
potential bidders should be-friend the mekaniko who looks over the bodega. they usually know more about the car than anybody else there.
generally, the cars are on as-is basis. and checking out the car is not as friendly as one may assume. some of them cars do not have working batteries...

[GTi]

We're looking to get our first car (for me and my father). What would be your recommendations?

This will be our first car and I am a complete noob. At first, I was planning to get the 2020 honda jazz with the intent of paying it full in cold hard cash.

But then after more research, I learned that as a first time owner, it's probably better to get a 2nd hand car instead. I've read recommendations about japanese cars for their reliability. So this is what I've been looking for recently. But I am very open to other suggestions.

I was browsing the FB marketplace and saw a 2010 honda jazz at 385k and thought it was too expensive for such an old car? I also saw a 2014 honda city at 530k. So most probably I'm just being naive?

Getting a brand new car isn't out out the question yet - mostly for the guaranteed warranty and buying convenience. Instead of the 2020 jazz as our first, maybe the cheaper ones like the soluto, brio, dzire, reina would be better? I am not sure if it's worth it though.

You can tell I am confused af and cannot make up my mind yet so please enlighten me.

We don't have any specific requirements, it can be a sedan, suv, crossover, or whatever. Just something to get us from point a to point b during this pandemic. A balance between value for money and reliability. We live and work in Batangas btw.

P.S. How much do you pay a "trusted" mechanic?

If money is not a problem, of course anyone would want a brand new car. If you are afraid you might break your heart should you break it, then I suggest you consider a slightly used unit. A 1-2 year old car, especially one from a multi-car garage, will most likely still be almost as good as new, especially if mileage is still in the 4-digits. You also get to save quite a bit thanks to depreciation. Enough for 1-2 years worth of gas (I spent 56k on gas for my daily driver last year). [emoji23]

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[Walter]

Given the current economic condition ... prices of new and used cars will still go down in the coming months ...

[papi smith]

Wow, look at that 2019 Kona, 3k kms at 685k, is this the 1.188k brand new? Almost half price at 1 year old?

Assume balance siguro.

[dr. d]

Wow, look at that 2019 Kona, 3k kms at 685k, is this the 1.188k brand new? Almost half price at 1 year old?

Assume balance siguro.

1. owner not satisfied with the car;
2. owner not satisfied with the service;
3. owner's finances shattered, probably by covid.

is this just the beginning?
will there be a massive increase in pre-owned cars for sale?

[Deestone]

If prices are too low perhaps there is a visibly bump or dent repo car are as is where is condition upside is that you are assured of the legitimacy since this are from the bank no problem with documentation.

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[dr. d]

If prices are too low perhaps there is a visibly bump or dent repo car are as is where is condition upside is that you are assured of the legitimacy since this are from the bank no problem with documentation.

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there is a famous thread here, regarding one such transaction.

as the story went,
the car in question was owned by a person, whose estranged spouse had an outstanding balance with the same bank.
even after the "assume balance" buyer of the repossessed car had paid all the monies, the bank refused to release the car to him, as it was collateral from the estranged spouse's bank arrears.
when this buyer asked the bank, "magkano ba utang niya? ako na ang magbabayad!",
"i am sorry. we can not divulge you that information. bank secrecy laws and all that."
we have yet to hear of follow-up developments.