To Buy or Not To Buy

[1D4LV]

kunin ko lang opinion nyo guys....

i really decided in buying a car na talaga. In fact, i already made a reservation for a unit (which i cannot really disclose pa as of now). The unit will be financed for 5 years sana.

However, when my wife and myself talked last weekend, medyo nagkaroon kami ng reservations. Because of primarily, the economic conditions ng buhay ngayon (mataas fuel, mataas food, etc.). And we decided that the MA for the new car should just be saved for in case of need.

Kung kayo ang nasa lugar ko? Ano gagawin nyo? Would you be getting a car of your dreams? Or would you be deferring as such?

Please take note that my car is still in good running condition, although may mga kailangan lang ipaayos ng onti.

The reason is i feel bad kasi, but i somehow feel we made the right decision.

[ans_lim168]

If I were in your shoes...well I'd consider everything first before making a purchase...like what you said prices nowadays are skyrocketing from fuel to basic needs...it wouldn't make sense if I had the car of my dreams but I'm having problems with other aspects...and if my ride is still ok and presentable I think that would be fine by me at least I know my car and it's history...with that I hope you did make a very sound decision...good luck.

[tidus1203]

You have to first determine your monthly needs versus your income. For example I am making P100,000 a month and my monthly expense is like P60,000 and I have substantial savings and investments set aside then I might go for it. But if my monthly expense is P60,000 then I am just making P70,000 and I don't have a lot set aside then I will not go for it even if you can afford the monthly amortization. One barometer I use in buying WANTS (take note WANTS not NEEDS) is I should be able to buy it in cash and even if I did it will not affect my lifestyle or my fiscal situation at all...

[1D4LV]

yup. i agree with you both. that's why i am really decided to defer.
no problem with what i make and what i earn, but i am considering that the costs of living are quite getting high, might as well spend that money for establishing my own business, which is quite logical.

anyway, i think i still have to use my lancer baby for the next two years pa... eight years old pa lang naman sya eh....

[[archie]]

^^ sa sig niyo, for sale na yung oto mo

anyways, if i were in your shoes ill not get a new car if excellent running condition pa naman. ok yung bagong car but then ill wait for the gas prices to stabilize para makita ko yung real fixed cost ko. as of now theres no concrete data on where the gas price increase would stop. puro speculations pa lang.

as a typical pinoy would say "mabuti nang sobra wag lang kulang"

my 2 cents.

[flex]

well for me if you could still use the car, i'd rather defer in buying a new one unless you wont be able to earn an income without a car. Also if im going to buy something such as what tidus has said "WANTS", the cash that i'm going to use is really excess cash. You could just lose it and not worry about it that much after. The recent global economy is very very volatile...i'd rather have extra cash on hand in case of an emergency.

But then i know tidus would say that the value of our money is eroding every day with recent skyrocketing inflation

Again, I'm never really a fan of financing. I'd rather save up for the new car than pay extra for it. I dont want to make banks too rich