Planning to Buy Used Car, Installment Basis, Limited Budget

[Andy Ungria]

Hi Guys, it's my first time here in Tsikot.com.

I'm planning to get a car para di na ako magcommute. It's taking me 1.5hrs to 2.5hrs commuting on my way to work, pero if I'll drive on a private vehicle, kaya sya ng 30mins.

Here's the situation, kaya ko magprovide ng up to Php50K budget as downpayment and planning to pay the remaining balance in installment for 2-3yrs terms.

Hatchback or sedans is OK with me.
Budget ko for the car is 100K-150K.

Any tips?
Ok ba yung mga 1995 models up?
Or should I start with models 2000-up?
I can commit paying 3-4K monthly for this.

Thank you guys in advance =)

[JonJon Villegas]

Baka po mas malaki pa magiging maintenance mo sa budget mo for monthly. Sakit sa ulo yan lalo.


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[Andy Ungria]

Yun lang. Cons din talaga maintenance.
Anyone here na may experience buying 2nd hand, cheap car?

[b0y37]

Masyado nang luma yung 1995 to 2000. Kung kaya 2005 and up. Naisama mo na ba sa computation mo yung gasoline expenses? and of course, may mga kelangang repairs na rin yan. Given your budget, naconsider nyo na ba na magmotor?

[lowslowbenz]

If you know how to swing a wrench or turn a screw driver, then you can buy the cheapest (but decent) car that you can find and maintain it yourself. Tiyaga-tiyaga lang, until you get to the point where you can afford to purchase a "newer" car.

But if not, I would suggest you save up more and buy the cheapest brand new vehicle out there.

[Walter]

There's more to owning a car than just the monthly installment. You need to factor in fuel costs, repair costs, parking, registration, insurance, etc.

[leonleon]

Yung pinaka luma kong sasakyan, average cost of maintenance + insurance + registration + miscellaneous (detailing, wash, atbp). is around 40,000.00 per year pa rin, more or less. Wala pa diyan fuel costs & parking expenses. So do factor that in also when buying a 2nd hand vehicle, and see if you can afford the TOTAL monthly cost of ownership.

[Syuryuken]

bank financing ba?

[GTi]

Hi Guys, it's my first time here in Tsikot.com.

I'm planning to get a car para di na ako magcommute. It's taking me 1.5hrs to 2.5hrs commuting on my way to work, pero if I'll drive on a private vehicle, kaya sya ng 30mins.

Here's the situation, kaya ko magprovide ng up to Php50K budget as downpayment and planning to pay the remaining balance in installment for 2-3yrs terms.

Hatchback or sedans is OK with me.
Budget ko for the car is 100K-150K.

Any tips?
Ok ba yung mga 1995 models up?
Or should I start with models 2000-up?
I can commit paying 3-4K monthly for this.

Thank you guys in advance =)

Medyo mahirap ata maapprove ang car loan for vehicles of this vintage already. Besides, the high interest rate is not worth it. I'd suggest you save up to at least 100k in cash on hand before you hunt for a car. You'd be very lucky if you find a car of this age that is in top condition. But chances are that there would be some things to fix, or that something major may break down soon, so you have to have a budget for that too.

Best to look for the newest Sentra you can find. And ask for the list of parts already replaced. Stay away from too-good-to-be-true deals and ex-taxi units.

Sent from my GT-I9100 using Tapatalk 2

[leodawesome]

Sir masyado mababa yung 150k para ifinance pa. Malamang sa alamang di ka maaaprove nyan sa car loan. Personal loan pwede pa. Mabilis lang ipunin yang 150k. Kung hirap ka ipunin yan, sadly, IMO you still can't afford to own a car.

Sample in my case, here are my car-related expenses. Eto ay yung mga obvious or expected na gastos with the car.
- average of 90k per year on gasoline (masyado mataas to, syempre case-to-case basis padin)
- average of 24k per year on parking
- 4.5k on renewal of registration yearly
- 10-15k on insurance yearly

Yung mga unxepected maintenance and repairs saka yung replacement ng mga wear-and-tear parts, dipa kasama.