Brand New Car - Loan, < 5 yrs old - loan or > 5 yrs old - Cash

**[archie]** · March 2nd, 2009 01:30 PM

Originally Posted by tidus1203

Cathy IMO you are one step above your friends. By not forcing the issue on buying a new car when your finances are limited you are already more financially mature than your friends who you claim have the same or lower salary than you but still forced the issue and be a slave of their paycheck and their company... Being in debt is NOT A GOOD THING. Wag kang gumaya sa kanila, kung di kaya wag pilitin...

+1 ako ditto

100% agree!

para sakin, ok lang loan 100k kung it would not suffer your way of living. hanap na lang ng good deal with banks kung sino lowest interest rate. sa 400k baka kaya na 04-05 1.6j or one year lower for the e variant.

**BoyBakaL** · March 2nd, 2009 01:33 PM

If it was me ill stick to my old car if its still ok and wait it out til i can afford a new one and not get carried away by friends telling you they got new cars..

but if you cant help it and really want to loan your dream car i would suggest the shortest term..18-24 months as 5 years would be hefty for you with your limited budget..

on second hand cars theres pros and cons and theres no guarantee that you will get a good one or u might end with a bad one with more expenses and stalling in the middle of the road..

hope it whelps.

**_Cathy_** · March 2nd, 2009 01:34 PM

Originally Posted by tidus1203

be a slave of their paycheck and their company......

That is what I would hate to happen. If I get a loan I won't be able to leave my company whenever I want to.

I really don't know where my salary goes that's why I thought of getting a loan (may paglalaanan) Kaya lang yung ibang kilala ko na may loan wala silang gimmick saka tipid talaga sa food. AKo naman hindi ,masyado tipid, luma naman car ko.

But if I were to get a loan, how much of my salary (%) per month ang pwede mapunta sa debt?

**_Qwerty_** · March 2nd, 2009 01:41 PM

kung may 300T ka na.. tapos pwede ka pa mag add nang another 100T.. eh di 400T.. pwede nang down sa brand new car yan.. tapos i lo loan mo mga 200 to 300T lang.. for 3 years.. mga 10T a month yan.. kung kaya mo na yan.. eh di go for it.. nothing beats the smell of a brand new car.. less headaches..

**_Cathy_** · March 2nd, 2009 01:49 PM

San ba mas okay mag loan sa toyota mismo or sa bank ko iloan yung amount?

Kung brand new, 380k pa kulang ko. Kaya ko naman 10k a month. Ang takot ko lang ang dami kasing nare redundancy sa mga companies. Parang wala ng job security. Ngayon kasi zero debt pero zero savings din ako.

**_Qwerty_** · March 2nd, 2009 02:13 PM

teka.. zero savings?? eh pano mo mababayaran yung loan?? parang delikado yan..

mas maganda mag inquire ka sa mga banks.. mas mura sa kanila kesa sa CASA.. try BDO and BPI.. remember.. kung kakayanin.. eh mas maganda kung mas maikli ang loan period.. para mas maliit ang interest na babayaran mo.. the longer the loan.. the bigger the interest..

**_Cathy_** · March 2nd, 2009 02:25 PM

Originally Posted by _Qwerty_

teka.. zero savings?? eh pano mo mababayaran yung loan?? parang delikado yan.. ..

bayaran ko yung loan with my salary. delikado pag natanggal ako sa work. kaya mahina loob ko kasi wala ng sasalo sakin like my Lola.

I'll go with a second hand car na nga lang talaga.

**jeDi13** · March 2nd, 2009 02:41 PM

IMHO, I'd save-up more for at least 5 years (ok, 2 more years since you're really that eager to buy a brand new car or a relatively newer car than your Gli). This is to cushion financial expenses that I'll have in the future (may it be for the car or for other unforeseen expenses).

If you're really not confident to get a car loan, just walk away and think about it next year, or until you are confident that you can pay off your debt even without a stable income (of course, this is just a worst case scenario. but I'd prefer to be safe than sorry).

**_Cathy_** · March 2nd, 2009 02:57 PM

I'll save up a second hand car instead. 5 years is too long for me to wait. I am afraid that my car is due for overhaul soon.

I want an altis. 1.6 e manual.

**XTO** · March 2nd, 2009 09:06 PM

wala ka na ba madadagdag sa 300K aside sa cash from your 96 corolla? may plano ka pala for upgrade sana kahit pano nag save ka para savings + 300 from mom + your corolla selling price. mas maganda may savings ka para kahit pumasok ka sa loan meron ka kukunan kung medyo ma short.

same rin kung pre owned, di ka sigurado na gagamitin mo na lang basta yun for years. meron pa ring risk na may biglaang lumabas na problema.

save muna and tiis muna sa current corolla or hiram tayo kay DL