Buying my first car - Inquiries

[rinkana]

Hi guys,

This will be my first time buying a car and I want to properly plan everything. Thus, I need your advice or opinions on my items below. Thanks!

1. Dealer vs Bank Financing?
- Which is cheaper?
- Will I get freebies/discounts if I choose Bank Financing?

2. What monthly costs should I consider aside from the monthly installment payment? (disregarding tolls/fuel; will just be used during weekends)
- Insurance = XXXX.00?
- PMS = XXXX.00?
- Any other?

3. Toyota Corolla Altis G M/T VS Honda City E CVT or M/T.
I know that they're on different category. I just want to take your thoughts on which is better to get. I am currently leaning towards the Altis but still will be based on your inputs on item 2 since budget is a concern.

Thank you in advance!

[dr. d]

1. i don't know which is cheaper.
what you should do, is to get written quotations from them, and do the math.
i think you will get the same freebies, bank or in-house.

2. annual LTO and required TPL insurance. let's say, 4K a year.
comprehensive insurance, 30K for the first year siguro, as we don't know what car is in the works yet. it gradually decreases per year.
pms, say, 5K x 2/year = 10K annual.
fuel. say, 8 km/li. do your own mileage estimate, po. we don't know where you live and go.
parking fees. 50 pesos is a popular park-all-day fee in the weekend mall jaunt.
and i do not believe you will be using the car on weekends only.

3. altis vs. city. place your bets, gentlemen.

[gauss]

Hi guys,

This will be my first time buying a car and I want to properly plan everything. Thus, I need your advice or opinions on my items below. Thanks!

1. Dealer vs Bank Financing?
- Which is cheaper?
- Will I get freebies/discounts if I choose Bank Financing?

2. What monthly costs should I consider aside from the monthly installment payment? (disregarding tolls/fuel; will just be used during weekends)
- Insurance = XXXX.00?
- PMS = XXXX.00?
- Any other?

3. Toyota Corolla Altis G M/T VS Honda City E CVT or M/T.
I know that they're on different category. I just want to take your thoughts on which is better to get. I am currently leaning towards the Altis but still will be based on your inputs on item 2 since budget is a concern.

Thank you in advance!

1. Bank is cheaper in absolute terms (i.e, the total cash you pay out for the life of the loan, including the downpayment). In my recent purchase, the difference was Php75K. Spread over five years, it looks acceptable, but even if we invested the savings from lower DP, we wouldn't realistically earn that 75k. So I'd rather pay bigger DP and minimize my monthly payments. Low DP is one-time convenience, high monthly is 3-5 yrs of pain.

2. Roughly, Insurance premium is 2.5-3.5% of current value of the car. Insurance providers assume a 10% depreciation per year.

PMS will depend per vehicle. For the first 3 years, maybe 10-20k per year?

Aside from LTO registration wala na ko maisip. Pero if this is your first time to own a car, just remember you will now have fuel, toll, and parking expenses, and it's safe to assume these will be much higher than your expenses on public transpo.

3. With conditions of the car being equal, my own choice is altis.

[rinkana]

Thanks, all! Very informative po.

Just a what-if on item 3:

Honda City VX or Toyota Corolla Altis G M/T? (they're both on the 900k-ish price)

[lsdgenie]

Thanks, all! Very informative po.

Just a what-if on item 3:

Honda City VX or Toyota Corolla Altis G M/T? (they're both on the 900k-ish price)

3) Cant recall - The VX is Automatic? In any case - Id usually say get the one in the higher class, which in this case is the Altis. However, if this will be a daily driver for you, and you live in a high traffic area, a Matic would probably serve you better. The Altis is still the better choice overall if it'll just be a weekend car, and comes in a very close second for me as a daily driver, even if its an M/T.

[TheUninvited]

Thanks, all! Very informative po.

Just a what-if on item 3:

Honda City VX or Toyota Corolla Altis G M/T? (they're both on the 900k-ish price)

City VX if you love the toys, Altis if you want a boring car (it does have complete airbags even sa base M/T, ata).

Para mas simple, if automatic, get the City; if manual the Altis.

Consider also that both models are nearing the end of its life. In 1-2 years may all-new models na for both.

Mas mura maintenance ng Honda if you will consider that.

[mav2rck]

Thanks, all! Very informative po.

Just a what-if on item 3:

Honda City VX or Toyota Corolla Altis G M/T? (they're both on the 900k-ish price)

what car have you ended up choosing ?? And how what it?

[zzzzz31]

Buying first car din po this january 2019 patulong naman po.

Hyundai Accent Sedan 1.6 CRDi DIESEL MT 2019 or Honda City 1.5 E CVT GAS 2019 = same pricerange but different engine and transmission.

Weekend slex driving lang and occasional grocery trip. I dont mind if manual or automatic . Anu po mas sulit sa dalawa? thanks po

[GTi]

Buying first car din po this january 2019 patulong naman po.

Hyundai Accent Sedan 1.6 CRDi DIESEL MT 2019 or Honda City 1.5 E CVT GAS 2019 = same pricerange but different engine and transmission.

Weekend slex driving lang and occasional grocery trip. I dont mind if manual or automatic . Anu po mas sulit sa dalawa? thanks po

Other than the engine, the City is definitely the better car of the two.

Not that the City has a poor engine. It is actually really good. But the diesel Accent is both more powerful and more economical, which is made even more apparent by the big price difference between diesel and gasoline.

The Accent is bare though. Really bare.

Sent from my SM-G955F using Tapatalk

[chronicle]

Buying first car din po this january 2019 patulong naman po.

Hyundai Accent Sedan 1.6 CRDi DIESEL MT 2019 or Honda City 1.5 E CVT GAS 2019 = same pricerange but different engine and transmission.

Weekend slex driving lang and occasional grocery trip. I dont mind if manual or automatic . Anu po mas sulit sa dalawa? thanks po

Ano ba talaga ang main want mo?
Comfort, tech, the go to the city cvt
FC, go with accent.

Accent is soon to be replaced while the city has like 2 or 3 yrs left (maybe) until the next itiration comes in.

Eitherway, you would still get a sedan so no real defining factor between the two.

Sent from my BLL-L22 using Tapatalk

[zzzzz31]

Buying first car din po this january 2019 patulong naman po.

Hyundai Accent Sedan 1.6 CRDi DIESEL MT 2019 or Honda City 1.5 E CVT GAS 2019 = same pricerange but different engine and transmission.

Weekend slex driving lang and occasional grocery trip. I dont mind if manual or automatic . Anu po mas sulit sa dalawa? thanks po

Thank you po sa mga feedback guys regarding sa question ko.

I have driven Adventure Diesel and Fortuner Diesel and based on my experience never kaming nagkaissue with fuel, performance and reliability. Never ever driven an automatic.

If i were to purchase the new Honda with CVT engine,

is the CVT engine with Econ mode Good Enough to justify not buying a diesel engine? is it strong enough to be driven anywhere occasionally with 5 people going uphill or is it just for city driving?

Am I missing out on the new CVT technology? Is the ABS technology a great factor for me not to get a bare accent?

Thank you din for mentioning that honda have a better resell value but in my family we dont sell cars, we abuse it till it dies.

Thank you again in advance.

[kyleguy298]

1. It is usually cheaper to buy it in cash as may interest ang financing one way or the other. Freebies might, however be more kapag financing dahil mas malaki kita ng ahente galing sa financing.

2. Insurance, I'm not sure if pwede monthly, pero sa akin, I pay it yearly. In the case of my VW Golf GTS which cost 1.4M, nasa around 36K a year. Mas mababa to pag masmura ang car. PMS is dependent rin sa model ng car, pero mine nasa P9,000 for 15,000km. For Toyota in general, mga P3,000 - P6,000 ang PMS every 10,000Km depende sa model rin.

3. Corolla all the way if your budget permits naman.

[rinkana]

Thanks sa input, guys.

Going Honda City E CVT na lang ako. Sayang pera. hehe. Mejo tight rin budget kapag pinursue ko yung altis. Color naman next problem. wahaha. Kapag ba bumili ko sa Honda, pede ko agad palagyan ng Modulo Acce? or mavovoid ba warranty kapag sa labas nagpalagay? Gusto ko kasi ng Spoiler and back sensor. hehe.

[Hatredcopter]

Thanks, in the same boat ako ngayon. Looking to buy a honda city VX naman. Nag inquire na ako sa 5 banks for financing and so far lahat sila mas mura compared sa honda inhouse financing. Pinakamababa yung interest rate ng security bank followed by metrobank.

[sean-archer]

Thanks sa input, guys.

Going Honda City E CVT na lang ako. Sayang pera. hehe. Mejo tight rin budget kapag pinursue ko yung altis. Color naman next problem. wahaha. Kapag ba bumili ko sa Honda, pede ko agad palagyan ng Modulo Acce? or mavovoid ba warranty kapag sa labas nagpalagay? Gusto ko kasi ng Spoiler and back sensor. hehe.

Ang sarap na problema, picking the color of your ride. Look for actual units in the casa or on the road to pick your choice. Iba pa rin makita sa actual vs sa brochure or google. Personal choice ko are darker shades.

[rinkana]

Ang sarap na problema, picking the color of your ride. Look for actual units in the casa or on the road to pick your choice. Iba pa rin makita sa actual vs sa brochure or google. Personal choice ko are darker shades.

yup, from actual naman. Matagal ko na kasing gusto ang white. hehe. pero color talaga is subjective. Problema? ang problema ko ay yung dealer kong di nagrerespond. After mabigay yung quote, di pa ulit nagpaparamdam. approved na yung loan ko e xD

[dr. d]

1. It is usually cheaper to buy it in cash as may interest ang financing one way or the other. Freebies might, however be more kapag financing dahil mas malaki kita ng ahente galing sa financing.

2. Insurance, I'm not sure if pwede monthly, pero sa akin, I pay it yearly. In the case of my VW Golf GTS which cost 1.4M, nasa around 36K a year. Mas mababa to pag masmura ang car. PMS is dependent rin sa model ng car, pero mine nasa P9,000 for 15,000km. For Toyota in general, mga P3,000 - P6,000 ang PMS every 10,000Km depende sa model rin.

3. Corolla all the way if your budget permits naman.

you can pay for the annual insurance in monthly installments.
but if you get into an accident, you may have to pay the insurance in full, before they will entertain having your car fixed.

[datuputi.jr]

Stucked up po ako between Mazda 2 (sedan) and Suzuki Ciaz GL. Manual Transmission. Medyo napapaisip ako with Suzuki Ciaz. Pareho namng may pros and cons sya. Ngayon iniisip ko e ung mas makakabuti para sa first owner tulad ko.

I also think regarding the maintenance after 3yrs. Which one is much better?

Thanks in advance.

[Japong77]

Question mga boss. I applied yesterday sa hyundai for a car. Earlier I got two calls from psbank confirming my information then sabi within 24 hrs i will receive a text if my status is approved. Weird is after an hour I got a call from lausautogroup and confirmed same info and they said mag conduct cla ng C.I sa house namin. Ngask din ng comaker, though sabi ng sales rep sa hyundai is ung application q is walang comaker kasi kaya nmn sa salary q. When i said it to lausautogroup sabi di daw pwede sa financing. Bit confused, cno ba mgfifinance c lausautogroup ba or c psbank? First time to apply for car loan. Thanks sa sasagot

[darkpeccatoribu]

Jus stick with PSBANK sir. If your not busy, please take a look also at my dealer. thank you. I'm from TOYOTA CAMARINES SUR, and we have bigger discounts this month of july. for more inquiries pls call. 0977-277-9894.... 0907-412-3607.