If it were me, just get or borrow a small subcompact like a Jazz, Getz, Vios (soon to be replaced by a Yaris Sedan), etc..bec. I presume parking will be quite scarce at MIT (inside Intramuros) and a small form factor vehicle will come in handy as well as the fuel saving issue. Also try not to form an attachment with this car bec. it might get scratched, dinged, etc...while being parked in a cramped parking space.

I have no experience commuting here in the Philippines but I do commute whenever I go abroad. My impression of the commuting here is that it is a hassle (bec. the lack of a cohesive centralized system), confusing (bec. it is a free-for-all-wild-west among transport operators), and unsafe (pollution, crime, accidents, etc..). Just my two cents.

re: importing. I read a post in another thread (you may search for it) by an individual who makes a living as a customs broker. If I remember it correctly, you'd have to spend around more than 100% of your imported vehicle's value in taxes and not counting other misc. fees.