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  1. Join Date
    Mar 2017
    Posts
    1
    #1
    im planning to buy my first car in the next months. I can pay a DP of 350k, gusto ko kasi mababa lang ung monthly payment ko. I want a Honda City, how much kaya ung babayaran ko monthly with this budget?

  2. Join Date
    Dec 2005
    Posts
    438
    #2
    You can check the loan calc of the various bank sites

    Sent from my SM-G610Y using Tapatalk

  3. Join Date
    May 2016
    Posts
    90
    #3
    all you have to do is to email all the banks and advise them of your DP. They will send you their computation then just compare.

  4. Join Date
    Dec 2016
    Posts
    208
    #4
    you can try this link sir: BPI Auto Loans

  5. Join Date
    Nov 2014
    Posts
    1,269
    #5
    How many months loan term? Which bank? What trim/variant?

    Most banks have online auto loan calculators. Much quicker to get a specific answer from those rather than us waiting for your particulars which you didn't mention

  6. Join Date
    Jul 2013
    Posts
    2,450
    #6
    Simple way of calculating monthly amortization.
    Price 800,000
    DP 350,000
    "Loan Amount
    (Price minus DP)" 450,000
    Interest rate (example lang) 4.5% per annum (or 0.045)
    Terms (in years, example lang) 5 years (or 60 months)
    "Interest
    (Rate x Years x Loan Amount)" 101,250
    "Total amount to be paid
    (Loan amount plus Interest)" 551,250
    "Montly amortization
    (Total amount divided by no. of months)" 9,187.5

  7. Join Date
    Jul 2013
    Posts
    2,450
    #7
    Kung bigyan ka nila ng discount, i-less mo yun sa Loan amount. The computation is actually very simple.

  8. Join Date
    Mar 2017
    Posts
    655
    #8
    Quote Originally Posted by G_ong View Post
    im planning to buy my first car in the next months. I can pay a DP of 350k, gusto ko kasi mababa lang ung monthly payment ko. I want a Honda City, how much kaya ung babayaran ko monthly with this budget?
    Sir, I suggest mag inquire muna kayo sa preferred Honda Dealership nyo. Then ask for best quotation para sa Honda City E CVT nyo. Pinaka mataas na binigay sa akin as discount sa SRP is 25k para sa E Variant. Baka pwede ka pa humirit nun.

    If satisfied ka na sa offer ng dealership. Then hanap ka ng bank with low interest rate or dun nalang sa preferred bank mo, mas maganda if may savings account ka sa bank na yun mas madali approval.

    Tapos about sa computation:
    804,000 - 25,000 (discount) = 779,000 SRP
    779,000 * 0.45 = 350,550 (45% downpayment)
    779-000 - 350,550 = 428,450 (loanable amount mo sa bank)
    428,450 / 60 (5 years) = 7140.83
    7148.83 * 0.28 = 1999.43 (assuming 28% interest rate in 5 years)
    7148.83 + 1999.43 = 9148.26 (monthly amortization)

    Bali 9148.26 Monthly amortization mo for 5 years

    Hanap ka ng bank na makapag bibigay sayo ng mas mababa pang interest rate. may mga banks na 26% below pa.

    HTH.

  9. Join Date
    Jan 2006
    Posts
    12,608
    #9
    If you can do a big DP (40-50% of car price), you can lower the number of years to around 3 years. Compare the differences in monthly payments and choose the one that works well with you.

    By the way, you have to consider the cost of insurance, LTO registration, and chattel mortgage cost. Some banks only shoulder any one of those costs but not all unless you are able to work out a good deal of sorts.

  10. Join Date
    Jul 2008
    Posts
    7,119
    #10
    The bigger your DP, the lower the added cost of financing to the selling price. If I could, I would hold off as long as I can to save for a bigger DP and only then will I get a loan for the balance. For me 3 years is the maximum I would get. Better if you could do it in 18 mos to 2 years to minimize financing cost.

First car P350k DP