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  1. Join Date
    Oct 2011
    Posts
    49
    #51
    Quote Originally Posted by ans_lim168 View Post
    Find a willing buyer and sell the car. That's the reason why I don't like to pay in installments when purchasing a vehicle. "One time big time" Cash.
    It is NOT WISE to buy big purchases such as this in CASH. EVER.

    It is wiser to pay a good DP (say 40%) and pay it in 2-3 years.

    Then use the remaining 60% (of that you were supposed to include in buying the car in cash) to earn for you, invest. Then let that investment pay for the car.

    After 2-3 years, you have a fully paid car, via an investment that paid for it after you setttled the DP and the investment itself that still earns for you.

    Sounds too ideal, but not far from reality. It happens quite often to the most wise spenders.

    Not in Cash, please.

  2. Join Date
    Oct 2002
    Posts
    15,528
    #52
    Quote Originally Posted by rflores View Post
    It is NOT WISE to buy big purchases such as this in CASH. EVER.

    It is wiser to pay a good DP (say 40%) and pay it in 2-3 years.

    Then use the remaining 60% (of that you were supposed to include in buying the car in cash) to earn for you, invest. Then let that investment pay for the car.

    After 2-3 years, you have a fully paid car, via an investment that paid for it after you setttled the DP and the investment itself that still earns for you.

    Sounds too ideal, but not far from reality. It happens quite often to the most wise spenders.

    Not in Cash, please.
    it depends where you put the investments in, but the yield should be bigger than the interest and depreciation costs.

  3. Join Date
    Oct 2011
    Posts
    26,787
    #53
    ^

    correct. malaki din interest rates ng car lalo na 5 years....

  4. Join Date
    Jun 2008
    Posts
    1,741
    #54
    what about 50-50% dp-installment term with zero interest for one year, is this a good option?

  5. Join Date
    Oct 2002
    Posts
    15,528
    #55
    Quote Originally Posted by weisshorn View Post
    what about 50-50% dp-installment term with zero interest for one year, is this a good option?
    compute the interest on the remaining 4 year term. baka carried over din kasi yung first year dun sa remaining four years eh.

  6. Join Date
    Jan 2003
    Posts
    3,779
    #56
    Quote Originally Posted by rflores View Post
    It is NOT WISE to buy big purchases such as this in CASH. EVER.

    It is wiser to pay a good DP (say 40%) and pay it in 2-3 years.

    Then use the remaining 60% (of that you were supposed to include in buying the car in cash) to earn for you, invest. Then let that investment pay for the car.

    After 2-3 years, you have a fully paid car, via an investment that paid for it after you setttled the DP and the investment itself that still earns for you.

    Sounds too ideal, but not far from reality. It happens quite often to the most wise spenders.

    Not in Cash, please.
    Very ideal but what legal investment will earn me 16K/month net at 350K capital ?

    To the thread starter:

    I suggest you let the old guy to drive the car and lock the car on a railroad track.
    Pasagasaan mo sa tren ang unghang para matuluyan na. The insurance will cover take over your problem.
    Naka bawi ka pa sa tinatawag mong FRIEND.

  7. Join Date
    Oct 2011
    Posts
    26,787
    #57
    ^

    pea-amari.

  8. Join Date
    Mar 2014
    Posts
    17
    #58
    Ibenta mo nalang po yan assume balance. Tiwala lang po may mga mgkaka gusto jan

  9. Join Date
    Oct 2005
    Posts
    5,467
    #59
    Quote Originally Posted by becauseIhelp View Post
    Its really a painful pill to swallow.. And rest assure, lesson learned po talaga...

    I am actually getting the car tomrw, but Im afraid I cant continue the payment... Its really giving nightmares na po..I honestly dont know what to do na po...

    The car is Ford Fiesta Sedan 2012 (April)
    Ang dami kasing OA na excited na SC na gusto magka-kotse di pa naman kaya. Nakakainis yang kaibigan mo na yan. Kung ako yan, bukod sa kuha ng kotse, sisingilin ko pa sya sa hassle na inabot ko.

  10. Join Date
    Jul 2012
    Posts
    1,362
    #60
    ^ I know a friend of wifey that is paying 18k a month for a hyundai eon (or i10?) for 5 years. Grabe pang sub 1M car na yung monthly nya kung nag30% DP sya, and he is paying for a 1000cc car. Katuwiran nya ok lang naman daw kasi halos wala daw sya nilabas na pera nung DP. Oh well, kanya kanyang trip.

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I helped with the car loan, now I am in trouble :( please help