Buying my first car - Inquiries

[Zerlate]

ask ko lang po opinion nyo, first time brand new buyer here kaya nangangapa po. Si eastwest bank may offer na discounted chattel mortgage at free first year insurance pero naka lock-in na sa kanila ung remaining 4 years (eastwest insurance brokerage, inc ung ka tie up nila). C metrobank naman free chattel mortgage tapos lock-in din sa kanila ng 5 yrs ung insurance (charter ping an). ok lang kaya na naka lock -in sa bank ung insurance?

[SelraBeats]

Worth pa ba 'yung mga older models like 95-97?

[dr. d]

Worth pa ba 'yung mga older models like 95-97?

1. if the price is right.
2. only if they were reasonably maintained.
3. sentra, corolla, mebbe civic and lancer. for relative ease of parts sourcing.
4. clean title (ownership papers).

[travajante]

Worth pa ba 'yung mga older models like 95-97?

Depends....if you're talking Land Cruisers of those years? Definitely.[emoji106]

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[dr. d]

Depends....if you're talking Land Cruisers of those years? Definitely.[emoji106]

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i stumbled onto his other post in the EG hatch page.
he mentioned there his target car, a civic EG hatch. and he stated his budget, 150K.

[tagatamong]

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.

Regarding buying with cash, what you're really losing in it is the opportunity cost since you're parting right away with your cash. If you want the money, or worse, need the money, tough luck. At least when you pay 30% down and finance the rest, you can still pull out the 70% in case something happens.

I know someone who learned this the hard way. Paid for a car in cash, then some family member goes terribly ill. He nearly had to bleed dry his savings account. If only he paid let's say 30% down, he would still have that other 70% in hand which he can realign for medical bills. Car monthlies can nearly be covered by his salary anyway.

Now about interest, the crux of the matter. Pinoys don't like being ripped off and they think interests rip them off. But then, how easy it is nowadays to offset the interest charged by banks? Preferred shares, for example, on average carry dividends rates of more than 6% per annum. How much is the interest rate for a when you finance 70% of the car amount payable in 3years? 5.5% to 6%, around that figure. Dividends alone then covers the interest assuming you bought enough to equal the 70% financed amount. And you only have to do this once if you do not touch your fund.

In short, paying in cash is the naive choice. It's good but it leaves you open because it bleeds your cash flow. There are better options nowadays.

[Baogiachevrolet]

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.

useful information

[benchph1]

Nakapili ka na pala. Take note, Honda has a premium on their tafetta white color. Dunno why.

Pag di nagrespond, follow-up lang. either by phone call or personal visit. Hanggang sa di na siya mapakali sa kulit mo. [emoji16]


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[rinkana]

Nakapili ka na pala. Take note, Honda has a premium on their tafetta white color. Dunno why.

Pag di nagrespond, follow-up lang. either by phone call or personal visit. Hanggang sa di na siya mapakali sa kulit mo. [emoji16]


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Mukang la naman premium. Nakalagay agad yung tafetta white sa available colors sa quote ko e. hehe. Di kasi ako makapagpalit ng dealer. Company discount kasi. Saka un naapprove na loan is sakto na sa discount -_-

so normal lang un? kulitin ko lang? hahaha

[tr1ck5h07]

Usually SA yung nangungulit kasi commission yan. So baka wala pang unit available for you.


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[rinkana]

Usually SA yung nangungulit kasi commission yan. So baka wala pang unit available for you.


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Yun ang huling reply nya sakin. E parang di pa kasi reserved sakin. Or dahil sa company discount kaya nadeprioritized ako :| .
Ang iniisip ko kasi ay baka abutin pa ng next year kung kelan may excise tax na. haha.

[tr1ck5h07]

Yun ang huling reply nya sakin. E parang di pa kasi reserved sakin. Or dahil sa company discount kaya nadeprioritized ako :| .
Ang iniisip ko kasi ay baka abutin pa ng next year kung kelan may excise tax na. haha.

When was the last time your SA messaged you? Pwede ka magfollow-up if more than a few days na. Just to get a sense of an ETA.

Pwede mo rin takutin saying you’ve been offered an available unit sa ibang brand or casa. Usually that helps you get prioritised.


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[rinkana]

When was the last time your SA messaged you? Pwede ka magfollow-up if more than a few days na. Just to get a sense of an ETA.

Pwede mo rin takutin saying you’ve been offered an available unit sa ibang brand or casa. Usually that helps you get prioritised.


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last thursday lang. Pano ba yung process nito? first time buy ko kasi hehe. Naapprove na kasi ni bank tapos may PO na. diba dapat nagpaprocess na kami sa dealer kahit wala pa available na unit?

[benchph1]

Oo trabaho nila yan eh. Minsan kasi sa dami ng inaasikaso niyan eh makakalimutan ka na


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[tr1ck5h07]

Yup, dapat tuloy tuloy na yan after PO. Pag may unit nang malapit ilabas sa yo, kukulitin ka ng SA to get the bank to give the ATD (authority to deliver). Meaning nabayaran mo na yung chattel mortgage, one-month-advance and any other fees).


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[sean-archer]

I don't wanna think na Naka quota na yung SA mo at icount na yung sayo for next month. I'm just bring pessimistic here. Pag hindi sya respond pre pwede naman sa supervisor nya ka mag followup Lalo na may hinahabol ka deadline

[rinkana]

I don't wanna think na Naka quota na yung SA mo at icount na yung sayo for next month. I'm just bring pessimistic here. Pag hindi sya respond pre pwede naman sa supervisor nya ka mag followup Lalo na may hinahabol ka deadline

Yan nga iniisip ko e. yun. tatanong ko pala yan sa inyo. hehe. Kung pede tumawag na nga ko mismo sa Dealership at maghanap ng ibang tao? tapos sabihin ko na lang na nabigyan na ko ng quote pero di responsive ung SA.

[sean-archer]

Yan nga iniisip ko e. yun. tatanong ko pala yan sa inyo. hehe. Kung pede tumawag na nga ko mismo sa Dealership at maghanap ng ibang tao? tapos sabihin ko na lang na nabigyan na ko ng quote pero di responsive ung SA.

Other SAs won't entertain you, protocol Yun, bawal agawan ng client kumbaga. But the supervisor will entertain your concern.

[The Hound]

Yup, dapat tuloy tuloy na yan after PO. Pag may unit nang malapit ilabas sa yo, kukulitin ka ng SA to get the bank to give the ATD (authority to deliver). Meaning nabayaran mo na yung chattel mortgage, one-month-advance and any other fees).


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Sir what if the bank already issued a PO but the dealership thru the SA doesn't issue a unit ( delaying tactics, supply issues, etc.).

Ang case kasi bayad na chattel and insurance sa bank, and issued na PDCs for the 60 mos amortization. Although for the DP, pinahold ng SA kasi wala pang available and mahaba daw yung queue ng reservation.

May habol ba ako ( bec of the PO and payments made) if ever?

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[tr1ck5h07]

Sir what if the bank already issued a PO but the dealership thru the SA doesn't issue a unit ( delaying tactics, supply issues, etc.).

Ang case kasi bayad na chattel and insurance sa bank, and issued na PDCs for the 60 mos amortization. Although for the DP, pinahold ng SA kasi wala pang available and mahaba daw yung queue ng reservation.

May habol ba ako ( bec of the PO and payments made) if ever?

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Coordinate with your bank if you can choose another dealer who has a unit available for you. Tell them about your situation so they can help you.


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