Need you advice please: What is best way and how to buy a brandnew car?

[speedtrap]

Hi! Need your help and advice. We are planning to buy a brandnew car.
I'm really a newbie when it comes to cars and car buying. First time to buy a car. First time car owner in case.
Can't buy in cash, so installment.

I'm still looking for a good car, which costs around 600k to 700k.
The plan is 50% downpayment, then the remaining balance, yun na yung monthly ammortization.

How will I buy the car? What's the best thing to do? Yung mas makakatipid po?

1. Should I go directly to a car shop, inquire about the car, inform them that I will pay 50% DP, then ask how much ang magiging monthly payment? If let say magustuhan ko, pay the DP, then I can get the car. Then I think babalikan ko na lang yung OR/CR and plate nya?

2. Should I go to or find a bank, apply for a car loan, pay them the 50% DP, then the bank will be the one to pay the remaining balance to a car shop? Then sa bank na ako magbabayad ng monthly ammortization? Is that how it works?

3. Should I apply for a cash loan sa bank, then pay the car in cash?
Then let say I know what to do, how about po yung car issurance and taxes? Are there any other fees involved aside from the selling price ng car?

Or please advice po ng pinaka-ideal na gawin? Saka yung para mas maka-save money pa po? Are there any zero interest deals if 50% DP?

Many Thanks!

[jhnkvn]

Can't offer any tips regarding installation payment (payed in cash kasi) but rather, I'll inform you of some "general" tips during my car shopping experiences.

1. Finalize your car first. Hard to go and talk financing if you haven't even done "market research".

Example of cars within your price range
Hyundai Getz
Hyundai i10
Hyundai Accent GL CCVT
Honda City 1.3
Ford Fiesta 1.4
Toyota Vios 1.3
Toyota Avanza 1.3
Mitsubishi Lancer 1.6 GLX
Suzuki Celerio

Personally, I'd recommend an Avanza for "Toyota" and if you're a people-carrier. If not, I'd go for the newly released Hyundai Accent for "newness" and overall appeal. If you'd like to play it safe, by all means there's a reason why the Vios is the #1 selling car in the country.

If you're on a tight budget, you may want to also try the secondhand car market. Secondhand Mazda3s or some Civics should be within reach.

2. Best to "know" somebody in the dealership rather than walking around aimlessly. There are alot of Tsikoteers here who can recommend you their previous SA. Although just popping by isn't bad, some dealerships are.. questionable as some take advantage of your naivety.

3. Best to arm yourself with knowledge before you head inside. It amazes me on how some SA try to sell a car whose features they are clueless. Some feed you BS if you're naive. And please don't go for those "GOLD" variants of Hyundai E.Rod/Manila Bay. Amazes me how many people waste cash on those.

4. Haggle between dealerships. Some dealerships are "kuripot" in giving discounts. I even went all the way to Alabang (malayo considering malapit kami sa Caloocan) just to find a good dealership with a good discount.

5. Sometimes, having a good dealership with medium discounts is better than a bad dealership with huge discounts. It's all about the experience.

Good luck bro!

[GTi]

I'm not one for installments, its goes against my conscience kasi to be getting something that I don't have the money to buy at the moment. But I'd suggest you go find an SA that'll give you the best in house deals. IMHO loans are unacceptable. For brand new cars, the best car I can suggest for you is the Accent 1.4GL A/T CVVT at 688k. But still, I'd suggest you also look into the 2nd hand market wherein you can find very good cars for a low price.