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  1. Join Date
    Jul 2011
    Posts
    21
    #1
    hello!

    I am planning to get my own car. I actually created a thread before about 1st car dilemma but then reality bites and through the help of our fellow forumers that I am not yet qualified during that time (i know that i am still quite not yet qualified now).

    Here's my old thread:
    http://tsikot.com/forums/car-buying-...dilemma-93113/


    So how much should i really be earning to be able for me to buy a brand new car without getting worried that I'll be short for the entire month or until the pay day. I mean comfortably getting a car without living poor to the point that you won't be able to enjoy or use your car for out of town trips, can still pay the bills, shop, etc. Right now, I am earning a little over 20k gross.

    Thanks!

  2. Join Date
    Nov 2009
    Posts
    12,358
    #2
    Quote Originally Posted by Row View Post
    hello!

    I am planning to get my own car. I actually created a thread before about 1st car dilemma but then reality bites and through the help of our fellow forumers that I am not yet qualified during that time (i know that i am still quite not yet qualified now).

    Here's my old thread:
    http://tsikot.com/forums/car-buying-...dilemma-93113/


    So how much should i really be earning to be able for me to buy a brand new car without getting worried that I'll be short for the entire month or until the pay day. I mean comfortably getting a car without living poor to the point that you won't be able to enjoy or use your car for out of town trips, can still pay the bills, shop, etc. Right now, I am earning a little over 20k gross.

    Thanks!
    No exact figure since magkakaiba tayo ng gastos kada buwan.

    Deduct your monthly expenses sa net income mo.

    Yung difference can it shoulder the monthly amortization? fuel expenses? PMS? repair? parking and toll (if applicable)

  3. Join Date
    Oct 2002
    Posts
    40,038
    #3
    Quote Originally Posted by Row View Post
    hello!

    I am planning to get my own car. I actually created a thread before about 1st car dilemma but then reality bites and through the help of our fellow forumers that I am not yet qualified during that time (i know that i am still quite not yet qualified now).

    Here's my old thread:
    http://tsikot.com/forums/car-buying-...dilemma-93113/


    So how much should i really be earning to be able for me to buy a brand new car without getting worried that I'll be short for the entire month or until the pay day. I mean comfortably getting a car without living poor to the point that you won't be able to enjoy or use your car for out of town trips, can still pay the bills, shop, etc. Right now, I am earning a little over 20k gross.

    Thanks!
    You still can't afford to own a car.

  4. Join Date
    Oct 2006
    Posts
    5,641
    #4
    Assuming you are approved for a loan, kailangan after mo mabyaran ang monthly amortization, ang matitira pa rin sa iyo eh 80-70% ng sweldo mo. And according to BPI loan calculator, you (and/or spouse) should be earning at least P45,000 a month.

  5. Join Date
    Feb 2007
    Posts
    55
    #5
    Here's a rough guide from BPI to find out if you can afford a brand new car based on on gross monthly income, 1st Car Plan

    - - - - - - - - - - - - - - - - - - - - - -

    Here's a rough guide from BPI to find out if you can afford a brand new car based on on gross monthly income, http://www.bpiautoloans.com/pages?page=1st-car-plan

  6. Join Date
    Jan 2004
    Posts
    6,497
    #6
    you still have to pay for the downpyment of the car kasi AKAIK walang bank na mag finance ng 100%

  7. Join Date
    May 2006
    Posts
    8,357
    #7
    Quote Originally Posted by Row View Post
    hello!

    I am planning to get my own car. I actually created a thread before about 1st car dilemma but then reality bites and through the help of our fellow forumers that I am not yet qualified during that time (i know that i am still quite not yet qualified now).

    Here's my old thread:
    http://tsikot.com/forums/car-buying-...dilemma-93113/


    So how much should i really be earning to be able for me to buy a brand new car without getting worried that I'll be short for the entire month or until the pay day. I mean comfortably getting a car without living poor to the point that you won't be able to enjoy or use your car for out of town trips, can still pay the bills, shop, etc. Right now, I am earning a little over 20k gross.

    Thanks!
    kulang pa rin

    - - - - - - - - - - - - - - - - - - - - - -

    Quote Originally Posted by Row View Post
    hello!

    I am planning to get my own car. I actually created a thread before about 1st car dilemma but then reality bites and through the help of our fellow forumers that I am not yet qualified during that time (i know that i am still quite not yet qualified now).

    Here's my old thread:
    http://tsikot.com/forums/car-buying-...dilemma-93113/


    So how much should i really be earning to be able for me to buy a brand new car without getting worried that I'll be short for the entire month or until the pay day. I mean comfortably getting a car without living poor to the point that you won't be able to enjoy or use your car for out of town trips, can still pay the bills, shop, etc. Right now, I am earning a little over 20k gross.

    Thanks!
    kulang pa rin

  8. Join Date
    Mar 2013
    Posts
    680
    #8
    Ikaw lang makakasagot nyan compute your expenses. For me if you are going to worry about monthly payments or being short on cash somewhere then you cant afford a new car. Tatanda ka lang sa stress. Either increase your income or buy used.

  9. Join Date
    Oct 2002
    Posts
    15,528
    #9
    An estimate:

    Monthly amortization = 17,000/month
    Gasoline = 5,000/month depending on car and route
    Parking = 150/day = 3,000 for 20 working days
    Tollfees = 300/day * SLEX = 6,000

    So for your day to day alone = 31,000.00

    Wala ka pang chibog dyan.... So kung ang food expenses mo ay 300/day = 6,000

    31,000 + 6,000 = 37,000.00

    Other probable costs:

    Electricity bill = 3,000
    Water = 300.00
    Groceries and food = 10,000
    Maid = 3,000

    = 16,300 + 37,000 = 53,000/mo

    Wala pa dyan yung maintenance costs, annual registration costs, insurance, emergency living expenses and recreation.
    At 53,000/month costs, you should be making around 70,000/month dahil may taxes and other deductions pa yan. baka kapus pa...

    - - - - - - - - - - - - - - - - - - - - - -

    An estimate:

    Monthly amortization = 17,000/month
    Gasoline = 5,000/month depending on car and route
    Parking = 150/day = 3,000 for 20 working days
    Tollfees = 300/day * SLEX = 6,000

    So for your day to day alone = 31,000.00

    Wala ka pang chibog dyan.... So kung ang food expenses mo ay 300/day = 6,000

    31,000 + 6,000 = 37,000.00

    Other probable costs:

    Electricity bill = 3,000
    Water = 300.00
    Groceries and food = 10,000
    Maid = 3,000

    = 16,300 + 37,000 = 53,000/mo

    Wala pa dyan yung maintenance costs, annual registration costs, insurance, emergency living expenses and recreation.
    At 53,000/month costs, you should be making around 70,000/month dahil may taxes and other deductions pa yan. baka kapus pa...

    since wala ka pang anak, wala pa yung other costs dyan like tuition, baon.... and mababa pa yung groceries and food expenses as well as yung electricity bill na nilagay ko dyan sa itaas.

  10. Join Date
    Dec 2005
    Posts
    39,162
    #10

    Big picture:

    P700K - SRP
    less P140K - 20% downpayment
    P560K - balance
    assuming 6% annual interest / 60 months amortization
    P728K - amount to be paid in 60 months

    Monthly payments :
    P12.1K - 60 equal payments
    P5K - gasoline per month
    P1.7K - budget of P20K per year for PMS et al
    P1.7K - insurance per month

    P20.5K - car-related expenses per month (assuming libre parking mo at walang expressway toll)



    "The measure of a man is what he does with power" LJIOHF!

    25.9K:branch:
    Last edited by CVT; March 12th, 2015 at 12:05 PM.

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How much should I be earning to avail a car or at least get a car loan?