Is it the time to buy my own Brand new Car?

**D3nb3r** · September 18th, 2017 03:48 PM

Ayaw na ayaw ng wife ko dati nung elementary pa mga anak ko pag nag umpisa ng mag kulitan ang bata, and I only have two kids inside a pick-up. Paano pa pag 5 inside a subcompact car, I can only imagine what it would look like pag nag umpisa ng mag kulitan at iyakan at may kasama pang mga sumbong hahaha. But hey, Naka survive nga ako dati nung wala pa akong car and motorcycle lang gamit namin hatid sundo and sa mga lakad namin even going to church. But I'll go with innova on this if ako nasa lugar mo.

**rudy_corolla** · September 18th, 2017 04:29 PM

Originally Posted by rock2death

Hello mga sir, bago lang po ako dito and totally newbee po sa Car. Hingi sana ako advise sa inyo kung sapat na kaya yung income namin sa business para bumili ng car?

So 26 year old na po kami mag-asawa at my business, 2 years married but no baby yet. Laki din kami sa hirap pareho at nag sumikap para mag ka roon ng sariling negosyo kaya kung mayroon man kaming pag-gagamitan ng pera ay iniisip muna namin mabuti o nanghihingi ng advise sa ibang tao kung tama ba ang gagawin namin. We are planning to buy car next year sana but we are getting paranoid because of excise tax next year and the next two years. Ang net income namin sa business namin ay 120k to 150k a month. Plan na din namin mag baby this next year.

So hingi sana ako advise sa mga kuya ko dyan na mas may experience sa buhay, i do not want to regret later na kung bakit kumuha ako ng car na worth 1.5m, nga pala ang car na balak namin ay Mazda CX-5 FWD Pro at balak sana namin ay installment lang. So mga 10 to 15 years ba ang lifespan ng car? Ano ba ang tamang estado sa buhay para kumuha ng 1.5m car? Maraming Salamat po mga kuya!

I'm a middle class, 8am-5pm Makati employee and I own a Mazda CX-5. More than 10 years ko ring planong gamitin. Every day use from Las Pinas to Makati (except coding day). I spend about 1,500 pesos every two weeks sa gas, and of course dahil under yojin-3 pa walang bayad sa maintenance. Sa tingin ko with your income, you can afford one. Though my salary is lower than your income, I have a steady source of income and fully paid my house. My wife is also working and I have only 1 child.

**jumilae12** · September 23rd, 2017 08:36 PM

Hello good day po!

I am interested buyer of Mitsubishi Mirage 1.2 GLX MT. I am employed in a construction company for 2 years and 8 months and a regular employee. i am from Ilocos but when i got my job i lived in Caloocan for 2 years, then i was assigned here in Davao for 8 months and planning to buy a car na dito. last year my gross income is 19k without overtime, then nung naassign ako out of town nag increase ako to 23,500 gross plus my mga out of town incentives pa po ako na di declared sa payslip kasi di sya taxable and direct nalang pumapasok sa account ko. Ngayon po these are my problems kung maaapprove ba ng bank:

1. 23,500 ang gross na nakalagay sa COE ko without out of town incentives indicated at may mga overtime pay pa po akong di rin nakasama sa COE ko which is umaabot ng 10k per month. pero ang total gross ko sana if Basic Salary + Incentives + Overtime umaabot po ng 38k.
2. 8 months palang po ako sa davao, magiging factor po ba na bago lang ako sa lugar? (company provided po ang bahay ko dito at 5 years pa po ako iaassign ng company namin dito)
3. wala po akong co-maker kasi matanda na yung parents ko, sapat na ba yung item 1 para maapprove ako ng bank?
4. yung ITR ko is 2016 pa at ang nagrereflect na Annual gross ko pa is yung 19k pa.

Sana po masagot yung questions ko, first time buyer po kasi. Thanks

di po ako makapost sa thread kaya nag private message nalang po ako hehe

**chronicle** · September 23rd, 2017 08:40 PM

May mga online loan calculator ang mga banks.

Imo, it is not best to state your earnings sa forums kahit na may account name ka.

Happy hunting.

**Master Bate** · September 24th, 2017 09:08 AM

*jumilae12 If you apply for a car loan sa bank directly, most of them require 40k a monthly earning capacity. Siguro you can also try sa casa na loan... mas mataas yung interest dun compared sa bank but they are more likely to approve. May mga officemates din ako kc earning 20-25k plus but approved getting a mirage

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**dr. d** · September 24th, 2017 09:35 AM

Originally Posted by jumilae12

Hello good day po!

I am interested buyer of Mitsubishi Mirage 1.2 GLX MT. I am employed in a construction company for 2 years and 8 months and a regular employee. i am from Ilocos but when i got my job i lived in Caloocan for 2 years, then i was assigned here in Davao for 8 months and planning to buy a car na dito. last year my gross income is 19k without overtime, then nung naassign ako out of town nag increase ako to 23,500 gross plus my mga out of town incentives pa po ako na di declared sa payslip kasi di sya taxable and direct nalang pumapasok sa account ko. Ngayon po these are my problems kung maaapprove ba ng bank:

1. 23,500 ang gross na nakalagay sa COE ko without out of town incentives indicated at may mga overtime pay pa po akong di rin nakasama sa COE ko which is umaabot ng 10k per month. pero ang total gross ko sana if Basic Salary + Incentives + Overtime umaabot po ng 38k.
2. 8 months palang po ako sa davao, magiging factor po ba na bago lang ako sa lugar? (company provided po ang bahay ko dito at 5 years pa po ako iaassign ng company namin dito)
3. wala po akong co-maker kasi matanda na yung parents ko, sapat na ba yung item 1 para maapprove ako ng bank?
4. yung ITR ko is 2016 pa at ang nagrereflect na Annual gross ko pa is yung 19k pa.

Sana po masagot yung questions ko, first time buyer po kasi. Thanks

di po ako makapost sa thread kaya nag private message nalang po ako hehe

i will not pretend to second-guess the financial institutions, but...
if you came to me and asked me for a loan, using this information, i would turn you down.
i reckon, you would have to eat cardboard for some time, if you were to keep up with the monthlies.
successfully bringing the car home to your garage, is but the first step in car ownership. it is also the easiest step. the next step(s), is/are the monthlies, the daily little thingees, aka, maintenance and gas/oil costs, parking fees, etc etc... that will always remind you of your baby with a gradually increasing appetite but refuses to grow up.

but if your car of choice were a second-hand car... i mean, isang bayaran lang at sa iyo nang lubos...

**arvs18** · September 25th, 2017 09:46 AM

Originally Posted by dr. d

i will not pretend to second-guess the financial institutions, but...
if you came to me and asked me for a loan, using this information, i would turn you down.
i reckon, you would have to eat cardboard for some time, if you were to keep up with the monthlies.
successfully bringing the car home to your garage, is but the first step in car ownership. it is also the easiest step. the next step(s), is/are the monthlies, the daily little thingees, aka, maintenance and gas/oil costs, parking fees, etc etc... that will always remind you of your baby with a gradually increasing appetite but refuses to grow up.

but if your car of choice were a second-hand car... i mean, isang bayaran lang at sa iyo nang lubos...

I have to agree with doc here. 23.5k (consistent) won't cut it. 10k-15k alone goes for your car's monthly amortization and fuel expense.

8.5k - 13k nalang matitira sayo. PMS pa, annual insurance. unexpected events like ma bump car mo. etc.

Wag ka muna bibili ng brand new. Gaya ng sabi ni doc, if kaya mo bumili ng second hand car with cash, pwede ding option yun dahil wala ka nang poproblemahing monthlies.

If desidido ka talaga ng brand new, magipon ka muna for x number of years til nasa 50%+ worth of downpayment ka na. Para mas magaan. Or tiisin mo muna til mas financially capable ka na to own a brand new vehicle.

And to answer if ma-appprove ka sa above criteria na pinrovide mo.
If direct sa bank, I have a hunch na hindi ka maapprove sa vehicle choice mo, unless partner ng bank si Mitsu. Ang bagsak mo nyan is in-house financing, which is more expensive.

**zechs** · September 25th, 2017 09:58 AM

Hindi ba pwede i-subsidize ng company mo part of the car's cost? Magiging company car siya then after paying them off, sa iyo na mapapangalan ung car.

To tell you the truth, kung chummy mo ung branch manager, kahit anong salary pa nakalagay dyan ma-approve ka naman. Sagot mo na anong mangyari when you do get the car then start paying it off.

**Egan101** · September 25th, 2017 10:03 AM

Originally Posted by zechs

Hindi ba pwede i-subsidize ng company mo part of the car's cost? Magiging company car siya then after paying them off, sa iyo na mapapangalan ung car.

The sad truth common among employers is that not all employees get to have car loans or car plans as part of their compensation package.

**poweruser** · October 27th, 2017 11:13 AM

I would suggest that you buy a used car. Not only because it's cheaper but also because you won't get hit by depreciation as much. It's a much better investment

If reliability is what you're after, It's actually possible to buy a 1-3 year old used car. A 3 year old car is practically good as new mechanically speaking. You'd be surprised how much cheaper they are compared to brand new cars. A 2 year old vios can be had for around 450-500k. A brand new unit costs about 800k+. A brand new car loses up to 30% of its value as soon as you buy it. If you buy a new-ish 2nd hand car, you won't be paying for that initial depreciation. The first owner will.

For example a 2010 vios still costs around 300k.
So If you buy a 2ND HAND 2 year old vios use it for 5 years, you'll lose about 100k in depreciation
If you buy a brand new vios and use it for 5 years, you'll lose about 500k by the time you want to sell the car

You can even lessen the effects of depreciation if you buy a slightly older car. If you buy a 2010 vios and sell it after 5 years, you'll lose less than 80k. The older the car, the slower the depreciation