The Right Time to Buy a Brand New Car

[slapz]

financial, personal, need, want, and other factors.

Probably for those who are not born rich.

What is the right Monthly Salary?

Is it when you have enough money in the bank to purchase a car in cash?

Is it when you think you can handle the Monthly Amortization?

Kelan nga ba? Now, later, or never?

[1D4LV]

imho, there is always not the right time.
because getting a new car is not a wise investment due to depreciation, cost of maintenance, fuel, insurance, etc....

it would always depend on the buyer, based on his needs and affordability.

personally, nagkakaroon lang ako ng brand new car dahil part of company's benefits, wherein sagot nila at least 50% of the cost. but if i would have to rely on my own resources, i'll save first and would get a second hand, 3-5 year old car, in cash. at least, hindi ako talo sa MA and depreciation ng bagong sasakyan. oo, medyo costly in terms of maintenance, pero it still negates the cost of having to pay the MA + maintenance + overhead charges. and i get only what I need, based on a five year projection method, tapos benta na.

[uls]

buying a car is wealth destruction coz you end up with an asset worth less than all the money you put in

[slapz]

So, have you bought your brand new cars? What made you?

[yebo]

true lahat sinabi nila, kung purely from the point of view of finance buying a brand new car is not wise since it depreciates the minute it rolls out of the dealership. add to that the cost of maintenance and insurance.

but for me i always buy brand new for something i can never substitute with money. peace of mind. i am away from my family half of the time. my wife drives when i am not there, my kids are in the car. i sleep soundly. can't have that with a 2nd hand.

the right time depends on your finances. personally if my total monthly amortization (house, car, insurance, etc) is less than 30% of my income, or i can still meet my savings goals (which for me is at least 20% of my income) then i would. pero if i can not meet either of the 2 then waiting and saving mode na lang muna ako.

[slapz]

true lahat sinabi nila, kung purely from the point of view of finance buying a brand new car is not wise since it depreciates the minute it rolls out of the dealership. add to that the cost of maintenance and insurance.

but for me i always buy brand new for something i can never substitute with money. peace of mind. i am away from my family half of the time. my wife drives when i am not there, my kids are in the car. i sleep soundly. can't have that with a 2nd hand.

the right time depends on your finances. personally if my total monthly amortization (house, car, insurance, etc) is less than 30% of my income, or i can still meet my savings goals (which for me is at least 20% of my income) then i would. pero if i can not meet either of the 2 then waiting and saving mode na lang muna ako.

So you are saying, 30% of Income should be Housing and Car Amortizations? Then 20% is Savings, So 50% is Living Expenses.

So for example, a dude who has a salary of 100K a month, that is about 68K net. So 20.4K should go to housing and car, if you are paying 10K for the house, you got 10.4K to buy a car, which is something like an Accent/Vios or something. Really, if you have 100K Salary, you can just afford a subcompact sedan?

I think ideally that is what it is. But how much can you stretch it?

[dr. d]

So, have you bought your brand new cars? What made you?

because my time is more expensive than the "inconvenience" my older car has to offer. (read: i lose more money catering to my car's needs, than money i make when it caters to my needs.)
because i can afford to buy a new car and still not have to resort to eating cardboard.
because my older car no longer has the ability to service adequately my needs (e.g. bigger family, baggage space, etc). and let's be honest about this!
bottom line: because i can TRULY afford it, and because i TRULY need it.]
a suggestion, is to look into those used cars masquerading as "pre-owned cars". they may be a little cheaper than brand new.
but if i may be so bold.. might i suggest one look into buying a house and lot first, before even considering a new car..

[stavros]

Ang magandang rule dyan is dont buy it when you cant pay it in cash. This way, you will strive to save more and by the time you have enough money,youll realize that you dont need it and just keep the savings.

[slapz]

Ang magandang rule dyan is dont buy it when you cant pay it in cash. This way, you will strive to save more and by the time you have enough money,youll realize that you dont need it and just keep the savings.

This like saying never. Given a montly salary scheme. If you are saving for a house, how can you save for a car? So, a house you can loan? Car you should pay in cash?

[1D4LV]

This like saying never. Given a montly salary scheme. If you are saving for a house, how can you save for a car? So, a house you can loan? Car you should pay in cash?

This is different. The value of the house and lot appreciates (provided hindi binabaha parang sa provident village yung lugar).
cars depreciate.

[Ry_Tower]

Sa manila if family of 4 tapos net income is P50K, mahihirapan sa new car IMO kung hindi cash bibilhin. Mabuti naman and market hg 2nd han car dyan eh, get that. Yung mga 3 years pa lang nagagamit. Mura na yan. Kaya na i-maintain basta hindi maluho.

Ibang level trip ni Uls eh...world's most advcanced business jet. :D

[vinj]

Sa manila if family of 4 tapos net income is P50K, mahihirapan sa new car IMO kung hindi cash bibilhin. Mabuti naman and market hg 2nd han car dyan eh, get that. Yung mga 3 years pa lang nagagamit. Mura na yan. Kaya na i-maintain basta hindi maluho.

Ibang level trip ni Uls eh...world's most advcanced business jet.

Anything less thena G650, SC ka lang.

Mahirap yang 17K monthly amortization if you're earning 50K a month if you ask me... You're not even adding in insurance, fuel and service expenses of the vehicle.

[yapoy86]

This is different. The value of the house and lot appreciates (provided hindi binabaha parang sa provident village yung lugar).
cars depreciate.

you buy a car because "its necessity"... same when you buy a house / lot because "its necessity"

1 house and lot is enough... 1 car is also enough...

you must remember that house / lot is not an investment at all... never buy a house and lot just for the sake of "having an investment" just like a car, a house needs to be maintained, maintain utilities and pay taxes.

[CoDer]

Ang magandang rule dyan is dont buy it when you cant pay it in cash. This way, you will strive to save more and by the time you have enough money,youll realize that you dont need it and just keep the savings.

Wag na lang kamo syang bumili ng car pag sundan natin sinabi mo.

[slapz]

Yes, all the answers here are ideal. I would like to get some comments for those who go against the ideal but survived it.

[_Qwerty_]

kung pwede naman mag commute.. i say commute na lang.. mas malaki matitipid.. lalo na kung single pa.. pero if you can afford it naman.. then why not.. make sure you also compute for the the other expenses associated with the car and not just the monthly ammortization..

kung may pamilya na.. and kids.. highly suggested to buy a car for security and convenience.. lalo na kung may baby..

[Retz]

The right time is now.

[slapz]

The right time is now.

Tama!

Dagdagan, too short daw. ahaha!

[slapz]

the one I am deciding to buy is on the Car Comparisons thread, Budget Crossovers/CUV.. I like the Haima7. Ahaha!

One of the reasons why I think I 'need' a brand new car is I got a 10 month old, and one on the way. Scary having the two in a Kia Pride, right?

[lowslowbenz]

One of the reasons why I think I 'need' a brand new car is I got a 10 month old, and one on the way. Scary having the two in a Kia Pride, right?

OT:
If that Kia Pride is well maintained, cool comfy aircon, and runs like a fine watch ... why not?
I own cars that are maybe "older" than some people in here, but in terms of reliabilty and comfort, they can shame newer cars!

BTT:
You got a kid and another one on the way, least you can do is hunt for a decent and well maintained second hand vehicle. I would'nt want my kids riding public transport neither. Real world scenario, with hospital bills coming, plus the cost of milk, diapers, nannies, etc ... you would be needing that cash.