The Right Time to Buy a Brand New Car

[vefyjeph]

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?

My brother drives a kia pride with 2 kids... And another 1 in coming in a few weeks time... Lakas ng loob ano? hehehe. But he is looking to upgrade to a Van para may additional space and business na rin.

[airolynx]

My brother drives a kia pride with 2 kids... And another 1 in coming in a few weeks time... Lakas ng loob ano? hehehe. But he is looking to upgrade to a Van para may additional space and business na rin.

A Kia Pride is fine as long as it is well maintained. But then again, this holds true in all 2nd hand cars. Fixing broken parts is easy. The scary part is when something unseen gets broken. That's how you end up stranded in the highway.

[vinj]

IMO, a lot of us at this point in our lives don't have enough to buy a new car and maintain the lifestyle we wish for... Kahit si Uls, walang pambili yan ng gusto niyang... Gulfstream. :D

Given you'll have another kid on the way, you'll have additional expenses and in a couple of years, school expenses just as well. If your Kia Pride is very reliable then why not keep it? Heck i still throw my kids into the back of our 1993 Sentra 1.4 and will have no qualms about driving all the way to Baguio in it if need be because i know that car is very reliable given we've kept it properly maintained over the last 19 years. If a brand new car is hard on your budget then you can try to sell your Kia and get a larger second hand 1.3L or 1.6L sedan so you can fit in the stroller and baby stuff in the back.

To answer the question, it's hard to determine really when since a car will always be a expense and a depreciating asset. Expenses of each household is also not the same as there are factors on whether you live on your own, where you live, what are your other expenses, future expenses, savings, etc. You'll be in the best position to answer that.

[uls]

IMO, a lot of us at this point in our lives don't have enough to buy a new car and maintain the lifestyle we wish for... Kahit si Uls, walang pambili yan ng gusto niyang... Gulfstream. :D

hahaha

and don't forget... it's model G650

[dg1110]

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

Ganun ba. Mabasa nga.

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?

Advantage naman talaga ng Brand New car especially kung may baby ka is hindi ka natatakot masiraan. I can't imagine me and my kids in the middle of the road with a broken car. Pero as sir uls pointed out, depende rin sa capability mo mag bayad.

So its really a balance of things. Afford mo ba at kung magiging masaya ka.

[1D4LV]

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?

oo naman.... you need one.

[slapz]

10% of net worth? So to have an Alto, you have to have 4M in Net Worth?!

Probably in the long, I guess? So if you have an Alto, work your way to 4M first before buying another car?

[airolynx]

slapz, mahirap i-draw yung line about the when and when-not-to's ng pag bili ng bagong kotse. It's all a matter of preference, priorities, and the buying power. Some people go for a big house and they can live with an old second hand, smokey pickup truck. Some people don't own a house but they own a brand new car. Depende lang talaga sa priorities. Whichever makes you happier...

[uls]

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

[airolynx]

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.

[dg1110]

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

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

[airolynx]

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.

[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.

[slapz]

can we put figures?

If you have a net income of 50K/month, is 17k MA affordable?

[vefyjeph]

can we put figures?

If you have a net income of 50K/month, is 17k MA affordable?

slapz, you need to know first how much yung nagagastos mo dyan sa 50k/month mo. If around 20k lang, I guess at max 10K MA lang ang kaya. 4-5k goes to gas, 2k/mo iipunin for next years insurance, 1k/mo to keep for the next maintenance, 1-3k for parking, toll fess, etc... Negative na ata. hahaha.

So on top of your monthly ammortization, meron ka at least 10k pa additional for the cost of running the car.

[airolynx]

slapz, you need to know first how much yung nagagastos mo dyan sa 50k/month mo. If around 20k lang, I guess at max 10K MA lang ang kaya. 4-5k goes to gas, 2k/mo iipunin for next years insurance, 1k/mo to keep for the next maintenance, 1-3k for parking, toll fess, etc... Negative na ata. hahaha.

So on top of your monthly ammortization, meron ka at least 10k pa additional for the cost of running the car.

Agree ako kay vefy. You probably would not want to buy a new car and just stare at it in the garage dahil wala na pang gas. Hehehehe.

[uls]

can we put figures?

If you have a net income of 50K/month, is 17k MA affordable?

just don't let car payments affect your lifestyle

when you have to cut back on other expenses just to make car payments then it's wrong na

[Boy Bastos]

can we put figures?

If you have a net income of 50K/month, is 17k MA affordable?

Ok.

Reality check.

Family of 3 and another one on the way.

Income - 50K per month

Plan - Buy a new car for 17K/Mo

+

Fuel
Parking and Toll
Maintenance Cost - Yari ka kapag sa Hyundai HARI ka bumili. Every 3months ang PMS :D
Personal Expenses
Family Expenses
House/Bill Expenses
Food Expenses
Emergency Expenses
Recreational Expenses
Savings


If you think your 50K per month is enough for these scenario then go and buy a new car.

[1D4LV]

Ok.

Reality check.

Family of 3 and another one on the way.

Income - 50K per month

Plan - Buy a new car for 17K/Mo

+

Fuel
Parking and Toll
Maintenance Cost - Yari ka kapag sa Hyundai HARI ka bumili. Every 3months ang PMS :D
Personal Expenses
Family Expenses
House/Bill Expenses
Food Expenses
Emergency Expenses
Recreational Expenses
Savings


If you think your 50K per month is enough for these scenario then go and buy a new car.

i dont think kakasya ito. yung 50k/mo is gross ba? so may mga deductions pa yan. kung may deductions pa yan, ang net nyan is more or less 35k.

[slapz]

i dont think kakasya ito. yung 50k/mo is gross ba? so may mga deductions pa yan. kung may deductions pa yan, ang net nyan is more or less 35k.

50K is for example purposes only, and on the example, it is net.