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Verified Tsikot Member
- Join Date
- Jul 2011
- Posts
- 21
March 12th, 2015 11:26 AM #1hello!
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!
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March 12th, 2015 11:31 AM #2
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Verified Tsikot Member
- Join Date
- Oct 2006
- Posts
- 5,641
March 12th, 2015 11:36 AM #4Assuming 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.
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March 12th, 2015 11:37 AM #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
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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
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March 12th, 2015 11:45 AM #6
you still have to pay for the downpyment of the car kasi AKAIK walang bank na mag finance ng 100%
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March 12th, 2015 11:46 AM #7
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March 12th, 2015 11:49 AM #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.
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March 12th, 2015 11:53 AM #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...
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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.
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March 12th, 2015 12:01 PM #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.
Buhay na buhay ang BGC this evening. Bukas halos lahat ng restaurants. Sabi pa nung isang cashier...
Traffic!