Car purchase for a starting family Part 2

[vefyjeph]

Hello Tsikoteers!

Here I am again asking for your input regarding my next car purchase. I had a thread before for a car not over 1.2M. Unfortunately, it seems we cannot afford it later on as I have to pay another loan for our Condo in 2014.

Upon careful reconsideration, ourbudget now is no more than 900k.

My wife really wants Hyundai Tucson but we could be in financial trouble on 2014 if we choose to buy it.

She do not have 2nd choices for our car purchase. Though she name a few sa katatanong ko, Pabago-bago nga lang. I guess yung Tucson lang talaga gusto. Napipilitan lang magname ng cars. I already moved to a new work to get more income but still not enought. I guess kelangan ng racket or side line.

I also tried convincing my wife to get 2nd hand cars, but she would not approve it.

By the way, AT cars pala.

Her choices after Tucson:
1. Honda City
2. Toyota Avanza
3. Hyundai I10/Kia Picanto
4. Honda Civic

My choices:
1. Hyundai Elantra
2. Kia Rio
3. Honda Jazz
4. Kia Carens

Our considerations are the following:
1. Space - For family use, thought 2 pa lang kami eventually makakaroon din ng kids.
2. Fuel Efficiency - Will be used mostly during weekends pag uuwi sa Batangas. Meron din drive around Manila for some time.
3. Ground clearance - medyo uso kasi baha and potholes.
4. Driving comfort - I had driven my father's Isuzu Crosswind, thrifty sya pero masakit sa kamay after. Lakas kasi ng nginig sa manibela so nakakangimay ng kamay.

I know, the cars given above ay iba iba segment, pero yung price point naman ang main consideration.

[GTi]

Arte naman ni wife... There are many 2nd hand Tucsons you can get for your budget! Yun iba nga hindi base model eh. For 1.1-1.2M you can get a good 2nd hand Tucson R e-VGT na. 2nd hand cars are really good deals since they've gone past the initial depreciation already. If its only about a year old, mabago-bago pa yan. You can also consider getting a 2nd hand top of the line Carens CRDi or top of the line Innova D4D.

For brand new choices, there's the Innova E D4D, Carens CRDi (I think only the M/T fits your budget, unless they have some big discount promos again? )

If you're after space, fuel efficiency and ground clearance, better steer clear of the sedans and concentrate on the MPVs.

[vefyjeph]

Thanks GTI! You are always a big help.

I am also considering 2nd hand. Kaso it would only be good if it would be bought CASH. Kung financing din, the depreciated amount will go to the interest. The interest rate of 2nd hand is usually double of that of brand new. Although, the total purchase price would be less.

Tucson New - 1,368,000
45% DP - 615,600
Amt Finc'ed - 752,400
30% interest for 5 years = 225,720 (if we could get 6% interest per year)
monthly = 16,302
Total Paid = 1,593,000


2nd Hand Tucson - 1,148,000
50% DP - 574,000
Amt Finc'ed - 574,000
36% interest for 3 years = 206,640
monthly = 21,684
Total Paid = 1,354,000

Ang problem ko lang dito is mas mataas monthly sa 2nd hand... Mostly kasi 3yrs lang pwede finance pag 2nd hand. And I have to bring my trusted mechanic... Meron na ba mahusay tumingin sa CRDI engine?

[weisshorn]

And I have to bring my trusted mechanic... Meron na ba mahusay tumingin sa CRDI engine?

I don't see any serious problem in a 2-3 year old crdi engine. Important things to check (IMO) are: turbo charger = observe closely for any vibration & unusual noise. Use a small plastic hose as your stethoscope. Drive the car on high speed, the engine should be willing to rev (a short lag/hesistation during sudden accelaration is normal). Engine = observe for oil leakage, noise & worst of all the excessive crankcase pressure due to blow-by. A 2-3 year old engine should be in tiptop condition considering that this is still inside the warranty period. HTH

[mang_jose]

Thanks GTI! You are always a big help.

I am also considering 2nd hand. Kaso it would only be good if it would be bought CASH. Kung financing din, the depreciated amount will go to the interest. The interest rate of 2nd hand is usually double of that of brand new. Although, the total purchase price would be less.

Tucson New - 1,368,000
45% DP - 615,600
Amt Finc'ed - 752,400
30% interest for 5 years = 225,720 (if we could get 6% interest per year)
monthly = 16,302
Total Paid = 1,593,000


2nd Hand Tucson - 1,148,000
50% DP - 574,000
Amt Finc'ed - 574,000
36% interest for 3 years = 206,640
monthly = 21,684
Total Paid = 1,354,000

Ang problem ko lang dito is mas mataas monthly sa 2nd hand... Mostly kasi 3yrs lang pwede finance pag 2nd hand. And I have to bring my trusted mechanic... Meron na ba mahusay tumingin sa CRDI engine?

Just a thought TS, why not try lowering your DP to use your money for other investments, ie, funds for business. Baka makatulong lang in the future para sa dream car ni wifey. :-)

[vefyjeph]

I found this for the 2nd Hand Tucson. 2012 daw sya pero 5000k-9999k yung Mileage. My estimate is malamang Nov-Dec 2011 nakuha ito, pero na-register is 2012. Tapos dalawa yung seller for the same car. Oks kaya ito?

Hyundai Tucson 4x4 crdi Diesel AT - 12 | Cars for sale NCR | AyosDito.ph
Hyundai Tucson AT - 12 | Cars for sale NCR | AyosDito.ph

Mukhang na-excite wife ko nung namention ko na may nagbebenta ng 2nd hand Tucson na 2012. Gusto talaga tucson. Ayos price na to, kasi yung iba is 2010 yung year for almost this price as well. Legit kaya?

So pinagpipilian ko now is itong 2nd hand Tucson na ito (1,148,000) or a brand new Montero Sport GLX 2.5 AT na Non-VGT (1,298,000).

Mukhang kelangan talaga stretch ang budget para masayahan si Misis sa car purchase.

How would the maintenance of these 2 vehicles compare?


*mang jose,

yes we are now looking for a business/sideline that we could do. The thing is pareho kami office worker as programmers so we have little extra time. Kaya nahihirapan mag-isip ng business at mag feasibility study. I guess we have to seriously look for a business na.

[renzo_d10]

Sometimes you have to ask yourself, bakit kaagad binebenta ng owner yung sasakyan after owning it for several months ? Nagsasawa ? Bilis naman....

Looking at your choices, I believe a 2nd hand Montero or 3.0L D4D Fortuner would be the perfect vehicle for you. Big enough for a family, can ford floods easily, pretty comfortable (though among the two, I believe the Montero provides a more comfortable ride. Can't really attest as to how comfortable it is since sa Fortuner palang ako nakakasakay), and both are fuel efficient too. Diesel pa.

Meron naman talagang owners na naglelet-go ng kotse after 2-3 years so finding a fresh unit wouldn't be a problem.

[Gecko Guy]

*TS: not to burst your bubble but if you really don't have the capacity to get your wifey's dream car then why not postpone the purchase for the meantime and save some more until you have the dp/cash on hand?
Points to consider:
- your a couple, no kids yet
- you're both working?
- Do you really need the car now? or just having the "urge to buy" because you have some savings?
I've been to 2 car purchase already (both bank loans) and the latest will finish in 1 1/2 years time.
Our 1st purchase was a car (dream car ni wifey), we enjoyed it but only for a short time because the kids came up......so we had to get a family car (dream car ko). Now, I wanted to sell the 1st one but for senti reasons wifey will not agree...it's ok but maintaining 2 vehicles is like having another baby in the family.
My advice....save up first and buy what you really want. Don't go the long way like I did (if I had known that we're going to be 4 already before buying our 1st car then we would have opted for the 2nd vehicle instead of getting the first)
HTH and 2nd hand cars 1-3 even 4 years old as long as well maintained is still a good buy and feels like bnew.
Goodluck on the hunt!

Pahabol pala!
If I'm willing to get a loan of 1M ----- I'll definitely get a bnew unit....HTH

[rafmac]

I would suggest to re examine your priorities and finances. From the looks of it, medyo tight ang budget and and it would eat up a lot of your finances if you were to get a new car. Remember that hindi lang monthly ammortization ang babayaran nyo and there are operating expenses such as fuel, maintainance, annual insurance etc. My advice is to loan. Save muna kayo so that you will have extra funds lalo na when you plan to have kids and raising kids are expensive. Mahirap if all your income goes to paying the ammortization rather than allowing you to enjoy your hard earned income. I worked for a bank and often see young couples get a loan for a nice car then 1 year after it gets reposessed kasi di nakakayanan ang monthly. A good benchmark if you are ready is to calculate your earnings and if after all your expenses plus the loan and you still end up saving 10 to 20% of your income then it means you can afford it

If gusto nyo talaga and since dalawa lang kayo get a small car. Lesser gas bills, maintainin it will also be cheap as well.