The Right Time to Buy a Brand New Car

[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.

[Syuryuken]

Compute your monthly bills muna. Electricity, Water, Phone,Food allowance etc... wala pa diyan yung para sa mga anak mo, maintenance ng sasakyan baka maging negative yang 50k monthly salary mo pag dinagdagan mo pa ng bagong pagkakagastusan.

[dfopiso]

normally mabigat sa first year kasi yung amortization ay dadagdag sa monthly budget. but after a year, pay nag salary increase at bonuses, yun medyo giginhawa. so tiis muna sa first year

[jhnkvn]

well there are multimillionaires who won't buy anything more expensive than a camry

This. Don't play catching up with the Jones, I don't respect people like that idiot who slapped an MMDA officer but I respect those who buy their cars with their hard work while being disciplined enough to know that a car isn't an asset but a liability.

[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..

[yebo]

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?

ideally nga dapat ganyan, minimum 20% savings and no more than 30% sa loans.

but actually sir sa akin its 40% na ang ratio ng amortization ko sa income, 25% savings, the remainder is expenses. i was forced by circumstance, na-ondoy yung 1st house namin and i had to buy new cars also due to ondoy. bago din lahat halos ang appliances and furnitures due to ondoy. i am paying for 2 houses, 2 lots and 2 vehicles. pero ok lang malapit na makahinga ulit ng maluwag. 1 house (the ondoy victim), the 2 lots and 1 vehicle will be fully paid next year. so at the end of next year i expect my savings to balloon to 50%.

btw, baka sabihin mo kasi maluho masyado. dapat sana 1 car lang ang naka-loan but i had to buy another last month when my ondoy victim santa fe almost caused my wife to have an accident. di bale na mabawasan ang monthly savings basta safe ang wife and kids ko.

[macstar1]

In my opinion, its acceptable to buy a new car if your net disposable income is around 2x to 3x of your monthly car amortization.

So after considering all your home mortgage, groceries, utility bills, child care, insurance, etc., and you still have 34K net disposable monthly, then I suppose it is safe to spend 17K on monthly car amortization. And hopefully, you dont run into lemon cars just so you have a peace of mind when you go on out of town trips with your family.

The first car I bought was out of necessity. Supposed to be used by wifey, as she is doing field sales. Unfortunately, she made a bad decision buying a second hand kia pride. The first week, we almost died dahil nakalas ang ball joint "pag talbog" sa tulay.
Nakaranas din kaming magtulak sa SLEX at matulog sa Shell Macapagal dahil nawalan ng kuryente . . . Sira pala ang alternator ... What makes it worst was, ang daming rich kids na nagdra drag race sa shell ng time na yon . . .

May time din na nag rescue kami ng isang naaksidente, pero a kilometer before reaching UMC, tumirik ang Kia Shame ko kaya kailangang itulak papunta ospital. Fortunately, nabuhay yung pasyente despite the fact na kinailangang putulin ang paa nya ...

I suppose we were blessed after that incindent, after praying and praying, I finally got a promotion which entitled me to a car plan ... And it all came one blessing after another...

Bottomline, for ordinary citizen like me, buying a car should be based on our capacity to pay, and perhaps out of necessity.

[slapz]

well there are multimillionaires who won't buy anything more expensive than a camry

Agree... And there are upper middle class people who drive expensive SUVs but live in town houses.

yun pala slapz. may house kana pala. 2nd floor makaka antay na yan. If you really feel like buying a new car, just take your calculator, make some computations on your budget, if it looks ok, go for it! Fullfilling din ang pakiramdam when you finally get a new car. Parang nakaka sulit ng pagod sa trabaho. Hehehehe

Meron sa namin naka Montero SE pa. Pero nasa broken down apartment lang sila nakatira. Then yung isa pang tenant dun naka Fortuner naman.

Maraming ganyan, dg. Naka SUV tapos makikita mo naka kulambo lang kasi wala na sila pang gas. Ops OT na tayo. hehehehe

Like I said, it's all about priorities. I guess that's what makes them happy.

Like me if ever, I would have a brand new car, and an unfinished house. Sabi nga ng tatay ko, hindi daw tama. Sagot ko naman lagi, I could finish the house and have a car at the same time. Kaso nga lang, pakonti konti lang muna, every year may ipapagawa. Because I didn't get a Housing Loan.

[ronron77]

Follow your instinct. Financially, alam ko kakayanin mo naman. I know that the advises posted here will not serve your needs but the needs of those who are reading this thread (like me hehehe). At the end of the day, I think you have already decided on what to do and you are just trying to reinforce the rationale of your decision (i.e. tama ba ang naging decision ko?).

Kung hindi pa ngayon, kelan pa? I used to hear people say that they are always busy to do a particular task which will make them happy. But then, kailan ka ba talaga hindi magiging busy unless you deliberately set a time for it? You go for what would make you and your family happy in the end. Having a brand new car is one of the premium feelings in life. You're entitled to feel that feeling as well.

I myself bought a brand new car because I just grew tired of the never ending repair expenses of my old car. I tried very hard to maintain it but just like a thief in the night, trouble strikes when you least expected it.

For me, brand new car = peace of mind, convenience. Basta pag bumili ka na, dagdagan mo lang ng konting financial sacrifice at pairalin ang maturity sa paghandle ng finances.

[slapz]

make sure may parking din para hindi perwisyo sa kapwa..

Yes sir, no problem with the Parking, as our lot can fit about 6 cars. That's the thing with living in the Province.