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

[dr. d]

i'm no guru.
but if buyer is a total newbie to cars, buying brand new is probably the safer, albeit, more expensive, choice.
but if one is knowledgeable with cars, buying used cars can be a money-saving experience.

personally, i wouldn't mind buying used car, if it seems, to me, that it was reasonably cared for by its owner.

[jut703]

Hello,

I am totally new here (can't start a thread, lol) and also a newbie with regards to cars. I really wanted a car and the excise tax implementation even triggered me more.

just wanna ask the same and some questions... Is it the time to buy my own Brand new Car? (this will be my first car)

What should be the percentage of my NET salary that can go to the monthly amortization? (please cite a range)

My State:
- stable job
- single
- above average height (* 5'11 but skinny)

Purpose:
- Weekend use only
- Long drives
- bili suka :D

Considerations:
- budget
- maintenance cost
- realibility

Cars I'm eyeing: (all M/T variant - need to learn manual first)
1. Lancer Ex - my dream car pero dahil sa bad reviews (and parts availability daw), kaya not sure
2. Elantra - I like the looks and interior but also has bad reviews
3. Altis - not sure if I can have this with my budget (E vs G variant?)
4. NP300 Navarra - If I have the budget, Ill go for this one
5. City - my last choice

Opinions please

I was also considering to buy a used car but my friends kept telling me to buy new para daw iwas sakit ng ulo.

Thanks in advance!

First you'll need to have money for the downpayment of your car. Since you're looking at cars in the 1M price range, you should have around 200-250k on hand for your 20% downpayment.

Then, you have to be able to make the monthly payments. At an interest rate of 25% over 5 years, you'll need an extra 17k per month.

On top of that, you have annual maintenance and insurance costs. Insurance will be around 20k a year, maintenance can be assumed to be 5k every 6 months, so that's another 2.5k monthly you have to set aside.

Then there's fuel, toll, and parking costs. Most people spend around 3-5k a month on fuel. Parking and toll will depend on where you live and work, but assuming 100 pesos a day for work and malling on weekends, that's another 3k.

All in all you're looking at spending around 25-28k a month on your car payments and running costs. Compute your cash flow and see if you have this much extra on top of what you're spending now given your current income.

Off the top of my head, if you're single and earning maybe north of 75k (before taxes) a month and don't have your money tied up in other investments, a 1 million-peso car should be comfortably affordable.

Now onto your option of which car to get. Honestly I disagree with most of your choices.

The Lancer is 10 years old so you're essentially buying a car at brand new price for the technology, and refinement of a car from 2007. If you like the looks, then sure go ahead, but the Lancer doesn't offer much else. And if you ask me, there are many better looking cars in the same price range.

The Elantra is all-new but is bare for its price. It also doesn't offer anything that sets it apart from the Altis, but it doesn't have Toyota's vaunted reliability, ease of maintenance, and resale value.

The Altis is a pretty solid choice if you want a reasonably good looking car which drives reasonably well and has class-leading space. The G is pretty bare with none of the toys that cheaper cars have (touch screen, parking sensors, Bluetooth, etc) but at least you get a car with solid fundamentals. The E is cheaper but only comes in manual and I would assume you're not willing to go that route.

The reason why I don't think the Altis is a great choice anymore is because of the new Civic. It offers everything the Altis has - space, brand equity, reliability, toys - with a much more attractive package and a more powerful yet equally efficient engine. It costs the same as an Altis 1.6V (1.1M, 100k more than the G automatic), but it's worth every peso since it's really a very good performer in all aspects.

The Navara is a nice option priced the same as a Civic, but I wouldn't recommend buying a pickup if you won't use the bed. You're hauling an extra meter of length which is a pain to manage in tight city streets and parking spaces. Ironically you have a very big bed but have no trunk space because you can't put valuables in there. Even if you put a roller lid, it's not waterproof so putting clothes, gadgets, and documents is not an option. Essentially what happens is your backseat becomes your trunk and you have a very long and bulky 2-seater.

The City is a very solid option if you're on a tighter budget. The City E at 800k has everything you need in a car - spacious, efficient, looks respectable, has enough power for both city and highway driving. It even one-ups the more expensive Altis by offering Bluetooth connectivity.

If you want more toys (paddle shifters, push button ignition, climate control, etc), the City VX at 920k is also a solid option.

Sent from my SM-N9208 using Tapatalk

[rinkana]

First you'll need to have money for the downpayment of your car. Since you're looking at cars in the 1M price range, you should have around 200-250k on hand for your 20% downpayment.

Then, you have to be able to make the monthly payments. At an interest rate of 25% over 5 years, you'll need an extra 17k per month.

On top of that, you have annual maintenance and insurance costs. Insurance will be around 20k a year, maintenance can be assumed to be 5k every 6 months, so that's another 2.5k monthly you have to set aside.

Then there's fuel, toll, and parking costs. Most people spend around 3-5k a month on fuel. Parking and toll will depend on where you live and work, but assuming 100 pesos a day for work and malling on weekends, that's another 3k.

All in all you're looking at spending around 25-28k a month on your car payments and running costs. Compute your cash flow and see if you have this much extra on top of what you're spending now given your current income.

Off the top of my head, if you're single and earning maybe north of 75k (before taxes) a month and don't have your money tied up in other investments, a 1 million-peso car should be comfortably affordable.

Now onto your option of which car to get. Honestly I disagree with most of your choices.

The Lancer is 10 years old so you're essentially buying a car at brand new price for the technology, and refinement of a car from 2007. If you like the looks, then sure go ahead, but the Lancer doesn't offer much else. And if you ask me, there are many better looking cars in the same price range.

The Elantra is all-new but is bare for its price. It also doesn't offer anything that sets it apart from the Altis, but it doesn't have Toyota's vaunted reliability, ease of maintenance, and resale value.

The Altis is a pretty solid choice if you want a reasonably good looking car which drives reasonably well and has class-leading space. The G is pretty bare with none of the toys that cheaper cars have (touch screen, parking sensors, Bluetooth, etc) but at least you get a car with solid fundamentals. The E is cheaper but only comes in manual and I would assume you're not willing to go that route.

The reason why I don't think the Altis is a great choice anymore is because of the new Civic. It offers everything the Altis has - space, brand equity, reliability, toys - with a much more attractive package and a more powerful yet equally efficient engine. It costs the same as an Altis 1.6V (1.1M, 100k more than the G automatic), but it's worth every peso since it's really a very good performer in all aspects.

The Navara is a nice option priced the same as a Civic, but I wouldn't recommend buying a pickup if you won't use the bed. You're hauling an extra meter of length which is a pain to manage in tight city streets and parking spaces. Ironically you have a very big bed but have no trunk space because you can't put valuables in there. Even if you put a roller lid, it's not waterproof so putting clothes, gadgets, and documents is not an option. Essentially what happens is your backseat becomes your trunk and you have a very long and bulky 2-seater.

The City is a very solid option if you're on a tighter budget. The City E at 800k has everything you need in a car - spacious, efficient, looks respectable, has enough power for both city and highway driving. It even one-ups the more expensive Altis by offering Bluetooth connectivity.

If you want more toys (paddle shifters, push button ignition, climate control, etc), the City VX at 920k is also a solid option.

Sent from my SM-N9208 using Tapatalk

This is very helpful sir! Thank you very much for enlighting me. After this, Im leaning towards honda City.

[Hatredcopter]

First you'll need to have money for the downpayment of your car. Since you're looking at cars in the 1M price range, you should have around 200-250k on hand for your 20% downpayment.

Then, you have to be able to make the monthly payments. At an interest rate of 25% over 5 years, you'll need an extra 17k per month.

On top of that, you have annual maintenance and insurance costs. Insurance will be around 20k a year, maintenance can be assumed to be 5k every 6 months, so that's another 2.5k monthly you have to set aside.

Then there's fuel, toll, and parking costs. Most people spend around 3-5k a month on fuel. Parking and toll will depend on where you live and work, but assuming 100 pesos a day for work and malling on weekends, that's another 3k.

All in all you're looking at spending around 25-28k a month on your car payments and running costs. Compute your cash flow and see if you have this much extra on top of what you're spending now given your current income.

Off the top of my head, if you're single and earning maybe north of 75k (before taxes) a month and don't have your money tied up in other investments, a 1 million-peso car should be comfortably affordable.

Now onto your option of which car to get. Honestly I disagree with most of your choices.

The Lancer is 10 years old so you're essentially buying a car at brand new price for the technology, and refinement of a car from 2007. If you like the looks, then sure go ahead, but the Lancer doesn't offer much else. And if you ask me, there are many better looking cars in the same price range.

The Elantra is all-new but is bare for its price. It also doesn't offer anything that sets it apart from the Altis, but it doesn't have Toyota's vaunted reliability, ease of maintenance, and resale value.

The Altis is a pretty solid choice if you want a reasonably good looking car which drives reasonably well and has class-leading space. The G is pretty bare with none of the toys that cheaper cars have (touch screen, parking sensors, Bluetooth, etc) but at least you get a car with solid fundamentals. The E is cheaper but only comes in manual and I would assume you're not willing to go that route.

The reason why I don't think the Altis is a great choice anymore is because of the new Civic. It offers everything the Altis has - space, brand equity, reliability, toys - with a much more attractive package and a more powerful yet equally efficient engine. It costs the same as an Altis 1.6V (1.1M, 100k more than the G automatic), but it's worth every peso since it's really a very good performer in all aspects.

The Navara is a nice option priced the same as a Civic, but I wouldn't recommend buying a pickup if you won't use the bed. You're hauling an extra meter of length which is a pain to manage in tight city streets and parking spaces. Ironically you have a very big bed but have no trunk space because you can't put valuables in there. Even if you put a roller lid, it's not waterproof so putting clothes, gadgets, and documents is not an option. Essentially what happens is your backseat becomes your trunk and you have a very long and bulky 2-seater.

The City is a very solid option if you're on a tighter budget. The City E at 800k has everything you need in a car - spacious, efficient, looks respectable, has enough power for both city and highway driving. It even one-ups the more expensive Altis by offering Bluetooth connectivity.

If you want more toys (paddle shifters, push button ignition, climate control, etc), the City VX at 920k is also a solid option.

Sent from my SM-N9208 using Tapatalk

Thanks it also helped me out!

[Juan Martinez]

First you'll need to have money for the downpayment of your car. Since you're looking at cars in the 1M price range, you should have around 200-250k on hand for your 20% downpayment.

Then, you have to be able to make the monthly payments. At an interest rate of 25% over 5 years, you'll need an extra 17k per month.

On top of that, you have annual maintenance and insurance costs. Insurance will be around 20k a year, maintenance can be assumed to be 5k every 6 months, so that's another 2.5k monthly you have to set aside.

Then there's fuel, toll, and parking costs. Most people spend around 3-5k a month on fuel. Parking and toll will depend on where you live and work, but assuming 100 pesos a day for work and malling on weekends, that's another 3k.

All in all you're looking at spending around 25-28k a month on your car payments and running costs. Compute your cash flow and see if you have this much extra on top of what you're spending now given your current income.

Off the top of my head, if you're single and earning maybe north of 75k (before taxes) a month and don't have your money tied up in other investments, a 1 million-peso car should be comfortably affordable.

Now onto your option of which car to get. Honestly I disagree with most of your choices.

The Lancer is 10 years old so you're essentially buying a car at brand new price for the technology, and refinement of a car from 2007. If you like the looks, then sure go ahead, but the Lancer doesn't offer much else. And if you ask me, there are many better looking cars in the same price range.

The Elantra is all-new but is bare for its price. It also doesn't offer anything that sets it apart from the Altis, but it doesn't have Toyota's vaunted reliability, ease of maintenance, and resale value.

The Altis is a pretty solid choice if you want a reasonably good looking car which drives reasonably well and has class-leading space. The G is pretty bare with none of the toys that cheaper cars have (touch screen, parking sensors, Bluetooth, etc) but at least you get a car with solid fundamentals. The E is cheaper but only comes in manual and I would assume you're not willing to go that route.

The reason why I don't think the Altis is a great choice anymore is because of the new Civic. It offers everything the Altis has - space, brand equity, reliability, toys - with a much more attractive package and a more powerful yet equally efficient engine. It costs the same as an Altis 1.6V (1.1M, 100k more than the G automatic), but it's worth every peso since it's really a very good performer in all aspects.

The Navara is a nice option priced the same as a Civic, but I wouldn't recommend buying a pickup if you won't use the bed. You're hauling an extra meter of length which is a pain to manage in tight city streets and parking spaces. Ironically you have a very big bed but have no trunk space because you can't put valuables in there. Even if you put a roller lid, it's not waterproof so putting clothes, gadgets, and documents is not an option. Essentially what happens is your backseat becomes your trunk and you have a very long and bulky 2-seater.

The City is a very solid option if you're on a tighter budget. The City E at 800k has everything you need in a car - spacious, efficient, looks respectable, has enough power for both city and highway driving. It even one-ups the more expensive Altis by offering Bluetooth connectivity.

If you want more toys (paddle shifters, push button ignition, climate control, etc), the City VX at 920k is also a solid option.

Sent from my SM-N9208 using Tapatalk

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