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

[luis_]

Magkano na po ipon mo? Aim for 50% down na lang para yung monthy mo less than 10k at kahit 5 years yun hindi ganun kasakit sa bulsa. Or hanap ka na po asawa na malaki sahod hahaha.

Samin kasi before kami nag loan, ang sweldo ko ang gamit sa lahat ng expenses. Kay bossing, lahat ng sahod nya tago iniwan namin sa probinsya atm nya. 2x ng sahod ko yung kanya. So ayun ang bilis nakaipon hehehe.

[shadow]

Pinapahaba pa ninyo. in short with your current income you still can't afford to buy a brand new car.

[playplugg]

To TS:

Average of 20K monthly income (net) hindi po sa nag-degrade po ako, pero insufficient enough to avail a brand new car at kahit 2nd hand na sasakyan,

Eto na lang po, kahit mag-tabi po kayo ng 5K sa salary nyo, within 60 months, nasa 300K ang magiging savings.

not unless kung mag-business po kayo kahit in micro/mini business, possible na tumaas ang income nyo maliban as employee, meron po kayong extra income sa sariling business.

financially wise po dapat, kung necessity po talaga ang gamit ng sasakyan, even at 20K income pero meron naman ibang source of income para reasonable enough para bumili ng sasakyan by means of transportation, at alam nyo na capable enough na kayang bayaran kahit sa loan, why not?!

Pero kung luxury reasons lang para iwas commute at maging impressive sa ibang kasamahan sa trabaho na merong kang sasakyan. forget about it.

Malaki ang gastos ng sasakyan pag ginagamit, at least minimum of 8K/month ang budget for everyday usage (kung naka-mortgage, iba pa ang gastos) + yung mga yearly renewal for LTO registration/insurance, misc. fee, etc.

[jut703]

Di naman makakapagnegosyo si TS. Sa 20k per month wala kang puhunan for anything that can generate enough income for a car.

The only way he can feasibly afford a car is if his income triples, while expenses remain minimal.

[kimot]

dyan na papasok ang

open minded ka ba sa business?

ROFL

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

dyan na papasok ang

open minded ka ba sa business?

ROFL

[sientobente]

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.

+1
I also follow the same rule. This should be 25% of your net take home pay not your gross income. Assuming it is around 20k, then you can afford 5k for your monthly ammortization for the car(and house).

What I would suggest is to save money na muna for a bigger downpayment which can lower the ammortization to 5k. Since nagiincrease naman ang sweldo every year, then most probably, by then na nakaipon ka na, maluwag na sa iyo yung 5k a month. I think kasya ang mga second hand na kotse for it. But tama din sila sa advice nila, it is not practical, but if it is really what you want, then why not? baka maging motivation mo pa yun pumasok everyday and do better at work to move up, kasi may binabayaran ka na nga. ;)

[EQAddict]

+1
I also follow the same rule. This should be 25% of your net take home pay not your gross income. Assuming it is around 20k, then you can afford 5k for your monthly ammortization for the car(and house).

What I would suggest is to save money na muna for a bigger downpayment which can lower the ammortization to 5k. Since nagiincrease naman ang sweldo every year, then most probably, by then na nakaipon ka na, maluwag na sa iyo yung 5k a month. I think kasya ang mga second hand na kotse for it. But tama din sila sa advice nila, it is not practical, but if it is really what you want, then why not? baka maging motivation mo pa yun pumasok everyday and do better at work to move up, kasi may binabayaran ka na nga. ;)

This is exactly what motivated me to earn more. It was a struggle but i really wanted a car and was at the limit........

Anyway in the end i forced myself to look for (and be qualified for) the best opportunities and grabbed them when i could. That was like 12 years ago...... How time flies.

[jut703]

Yup, same here. Couldn't help but feel envious of my college friends who were given cars by their parents na parang wala lang. So I made sure that I'd be able to get a car from my own efforts. At the end of the day, it's actually more fulfilling.

Grit is all it takes.

[CVT]

Agree.

It's a totally different plane when you worked for it....

Never had a car of my own for years after graduation.... Public transport to and from work.... It was fun, really.

Ipun-ipon lang bago bilhin ang gustong bagay.... In my case,- lupa muna... Sarap yatang mag-date ng sumasakay ng jeep...

Your special someone is sitting next to you,- body to body....


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

25.9K:branch:

[dr. d]

a used car would bring the affordability down to manageable levels.
but many would-be buyers insist on brand new.