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

[yebo]

as a general rule your loan payments (car, house) should be no more than 25% of your monthly income if you earn below P100k gross. otherwise super tipid living ka, which of course mean you will not enjoy having a car anyways.

[rna800]

Depends on the price of the car that you wanna loan.

Pero kung ung nasa 600 to 800k peso range, you should be earning at least 70 to 80k net. Pag 50 to 60k, may chance na baka kulangin ka lalo pag nagsunod sunod ang gastos.

[BratPAQ]

Kulang pa, even for a 2nd hand.

[dos2]

Tiis tiis ka lang muna Row. tama sila na di lang gas ang nilalaklak ng kotse... pati yaman mo.
Luxury talaga ang sasakyan dito sa bansa natin. Its like having coffee daily sa starbucks and ignoring your 3in1 coffee at home.
Kung kaladkarin ka rin (medaling makaladkad sa yaya ng barkada o kamag-anak) mas lagot ka kasi mas dadami ang gala at syempre gastos nyo. May mga cases pa yan na di ka makakatanggi lalu na kung ang nagrerequest eh magulang o malapit na kamaganak o kaibigan tapos ang bayad lang sa gas at toll mo eh kwento.
My suggestion is open an account or a fixed earning fund where you will place your savings to buy your car in the future. One fastrack option is be an entrepreneur para mas mabilis kang makaipon. Sell foods in your office, mag pahulugan ka sa mga kapitbahay mo, or anything na forte mo na may value sa iba.
By the way, don't feel bad if wala ka pang kotse sa ngayon, atleast you are earning 20K per month when most Filipinos are below poverty line.

[_Cathy_]

+1 20k gross is definitely not enough. I don't have monthly car payments yet my parents still shoulder my PMS, Registration and Insurance payments because I can't afford it.

Owning a car is expensive. There's still a lot of cost involved after the purchase as already mentioned PMS(4k), Insurance(20k), Registration(5k), Gas, Parking and Toll)

[CVT]

If your parents are financially capable - borrow money from them and pay them na lang... Even with interest,- you should be better off,- as they are more forgiving and can agree to no interest or interest based on declining balance. Besides,- the money stays in the family.

Banks are loansharks in airconditioned offices, - wearing barong and elegant suits/dresses.

To the common tao, like us, they are necessary evils in our society.



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

25.9K:branch:

[yebo]

first, magtabi ka muna ng 120k sa banko for emergencies. di mo ito gagalawin, at lalong hindi ito ang para sa kotse na inaasam mo. emergency fund mo ito, equal to 6 months of your salary. kung sakaling mawalan ka ng work meron ka money for 6 months.

then ipon, ipon, ipon for your car. hanap ka na lang ng mura na 2nd hand, yung mga 100-150k price range. tapos magtabi ka ng additional 50k for repairs.

total savings mo dapat is 6 months emergency fund + cost of 2nd hand car + 50k for repairs.

[dos2]

[COLOR="#008080"]

Banks are loansharks in airconditioned offices, - wearing barong and elegant suits/dresses.

To the common tao, like us, they are necessary evils in our society.

A loan shark is a person or body who offers loans at extremely high interest rates. The term usually refers to illegal activity. - Wikipedia

If what you mean by a loanshark is how Wikipedia defined it, I beg to disagree. Banks are not loan sharks, in fact they are one of the major industries that makes our country work. Loan rates now for auto and housing loans are their lowest for the past 10-15 years if I am not mistaken.

What is wrong is if someone availed a loan when he knows in his heart that the loan would be too risky for him or is unaware of the implications of his purchase. One sample is selling a bnew car because the owner failed to consider gas and maintenance in his expenses. Same case on somebody being able to buy a condo's monthly amortization when he cannot pay for the real estate tax and condominum fees.

Sickness, typhoon, or other natural calamities are a different matter. I am just referring to controllable expenses.

[CVT]

A loan shark is a person or body who offers loans at extremely high interest rates. The term usually refers to illegal activity. - Wikipedia

If what you mean by loanshark how Wikipedia defined it, I beg to disagree. Banks are not loan sharks, in fact they are one of the major industries that makes our country work. Loan rates now for auto and housing loans are their lowest for the past 10-15 years if I am not mistaken.

What is wrong is if someone availed a loan when they know in their heart that the loan would be too risky for them or is unaware of the implications of their purchase. One sample is selling a bnew car because the owner failed to consider gas and maintenance in their expenses.

Same case on somebody being able to buy a condo's monthly amortization when he cannot pay for the real estate tax and condominum fees.

Sickness, typhoon, or other natural calamities are a different matter. I am just referring to controllable expenses.

Thanks for that, dear bro.

That is very enlightening. Also, it should be "loansharks".

I do not dwell with semantics.

Now, let the numbers speak for themselves....



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

25.9K:branch:

[99moves]

Compared to our parents, banks are loansharks

Unless your parents hate your guts at tutubuan ka ng sobra sobra pag nangutang ka ng pambili ng auto hehe.