CAR or CONDO UNIT?

**edl100** · August 26th, 2005 10:02 PM

Hi,

I may be out of date but I noticed that Cars nowadays are around the 1.2 MILLION on average price.

REVO or Corolla is around 900T
RAV4 is around 1.2 MILLION
Vans cost around 1.4 MILLION or more
SUVs average the 2.5 MILLION price tag
BMWs are on the 2.8 MILLION range to 7 MILLION for a 7 series.
MERCEDES is on the 3.8 MILLION to 10 MILLION for a new S-Class

I remember, a corolla 16V used to cost 333T in 1989?

With 3.5 million, You can get an EVO, a Porsche Boxter, A nice SLK BENZ or 5 series BMW.

My question is: If you have around 3.5 Million to spend on a car, would you buy one? or just get a decent CONDO unit in Eastwood, the FORT, ORTIGAS CENTER etc..... and keep your existing car or just a buy a simple car upgrade and go for the Condo unit as an investment??

**chris_d** · August 26th, 2005 10:12 PM

I'd keep my existing car and get a house/lot. A condo at the Fort would also be nice.

**BoyFerrari** · August 26th, 2005 10:30 PM

I think it is just extravagance to spend the entire P3.5 million on a vehicle, most especially that you already have an old vehicle which you can resell and help augment your money to buy a new one.

Almost all cars degrade in value over time. Real Estate properties increase in value over time. Which would you choose.

Again, you pay for luxury vehicles for the "coolness" factor. Mostly for prestige or showing-off... because you can survive with a much less expensive vehicle. So where you spend your money tells something about your priorities in life as a person.

**number001** · August 26th, 2005 11:00 PM

Buying an automobile is very wasteful due to its immediate depreciating value, as well as other costly maintenance fee which are due on a yearly/monthly/etc. basis.

Buy an automobile, only if your current car is about to die on you. Or if it requires too many repairs. In buying a replacement vehicle, stick with mainstream but reputable brands with good resale value (Toyota, Honda, etc), and avoid luxury brands (bye, BMW, Mercedes Benz, Volvo, Audi, etc..)

Buying a condo for Php 3.5M at the Fort is not enough, even for a studio unit only. At least as far as Serendra is concerned. Investing in other developers other than Ayala at Fort is not wise, given their unproven track record. Besides, I feel there is a glut forming at the Fort, with so many projects rising. Too much supply and too little local demand (buyers are mostly overseas Filipinos). Expect future rental rates to be quite competitive.

Eastwood? Forget about that place. Megaworld peddles such low quality projects, that the facade of its projects are litterly rotting with paint peeling and looking worn and dirty at this early stage in its life. Besides, their mall/entertainment/dining is quite paltry compared to other place. That 3.5M might be enough here but it would be a poor investment. The place is not really an integrated well thought/planned of place like Makati. It is just a very big lot that was hastily converted into its current form. Look at it, it is so boxed in.