Help me with my Budget

**keithdb** · January 14th, 2012 07:31 AM

360K interest in 5 years pala not 500K.
Mods, save button on edit is not working.

**cal0i** · January 14th, 2012 06:52 PM

Hi Guys, thank you for the eye opener.. I really appreciate it.

I went back to suzuki e.rod earlier to ask for a computation for their standard 20% downpayment.

ang laki nga pala talaga ng difference sa interest.. nakaka-silaw lang kasi yung low down, but in the long run, talo ka sa interest charges over 5 years.

It looks like back to the old drawing board ako. Pag-uusapan muna namin ni misis, I'll show her the comparison of interest rates para maliwanagan din sya.

Thank you guys!

although kung bibigyan nya ako ng 150k to 180k pang down.. mukhang dadami ulit ang options ko ah

**jaymd** · January 19th, 2012 08:17 AM

wag ka sa in house financing ng suzuki. mag shop around ka sa mga bangko kun san mura interest rates

**vinj** · January 19th, 2012 09:42 AM

Originally Posted by cal0i

Hi Guys, thank you for the eye opener.. I really appreciate it.

I went back to suzuki e.rod earlier to ask for a computation for their standard 20% downpayment.

ang laki nga pala talaga ng difference sa interest.. nakaka-silaw lang kasi yung low down, but in the long run, talo ka sa interest charges over 5 years.

It looks like back to the old drawing board ako. Pag-uusapan muna namin ni misis, I'll show her the comparison of interest rates para maliwanagan din sya.

Thank you guys!

although kung bibigyan nya ako ng 150k to 180k pang down.. mukhang dadami ulit ang options ko ah

Good decision.

Always add up your total cost at the end of the day and this will help you and your wife decide; kung isipin mo rin if you save up a little, your options and budget will really open up.

BTT: The Swift is a nice toy car in my books. Good design which seems to age well and driving impressions are good.

**mda** · January 19th, 2012 11:35 AM

+1 on looking for banks to finance the car. Inhouse financing always more expensive.

Except most banks require about 20% DP.

**renzo_d10** · January 19th, 2012 11:47 AM

Stick with the Swift, gather more funds for the DP. Ignore mo yung ibang alternatives na pasok dun sa nakuha mo na funds kasi most likely, ang ma-shell out mo for a better* car eh para lang sa pinakamababang DP. So talo ka pa rin sa interest rates. Pero kung malaki na yung nagather mo na funds for DP tapos ilaan mo para sa swift. Eh di mga 40% DP na siguro yun, so mas mababa ang interest.

**yapoy86** · January 19th, 2012 12:07 PM

50% down tapos swift... ayos.. ganda ng porma ng swift.. no need for extra blings

**mad_max168** · January 20th, 2012 04:34 AM

Small cars for toy cars might be a waste of money specially if you have kids or expecting some soon... It's a miracle you still maintain a lynx too... Plan for the future I'd say.

**galant E SS** · January 23rd, 2012 01:34 AM

Originally Posted by mad_max168

Small cars for toy cars might be a waste of money specially if you have kids or expecting some soon... It's a miracle you still maintain a lynx too... Plan for the future I'd say.

i agree with mad_max168. TS, why bother buying a 2nd car as your toy car when you already have a well maintained ford lynx that serves you well? then, you will buy a brand new car in installment and be indebted for 5 years. why don't you just save your money for your family's future? . . . just my friendly advice bro.

**rockiee_s** · January 23rd, 2012 11:37 AM

hi. i just finished the exercise of comparing all interest rates of bank loans. these are the lowest rates i got:

UNIONBANK
EASTWEST BANK
PSBANK

the other factor which u will need to consider is the attitude of the bank loan officer. merong mabait, merong makupad, merong masungit, merong strict sa requirements.

hope this helps.

if i pushed thru with my in house financing, i would have spent more than 200k in buying the same car.