What Are You Thinking About?

**_Cathy_** · April 15th, 2017 07:12 PM

But still my question is how can they afford large monthly payments if they can only afford low DP. I am not imposing my beliefs or what works for my on anyone. I just want to understand the logic.

So you are saying they have enough money for a large downpayment, but they choose the low DP high monthly option?

**cast_no_shadow** · April 15th, 2017 07:16 PM

Originally Posted by _Cathy_

But still my question is how can they afford large monthly payments if they can only afford low DP. I am not imposing my beliefs or what works for my on anyone. I just want to understand the logic.

So you are saying they have enough money for a large downpayment, but they choose the low DP high monthly option?

Im not saying you are, I learned that when I myself tried talking them out getting the low dp deal.

Do they have enough money? Maybe and maybe not.

Only logical explanation i think is Kanya kanya managing ng finances ang tao hehe

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**CVT** · April 15th, 2017 07:17 PM

Originally Posted by cast_no_shadow

For sure malaki monthly nyan, dame ko na nakausap sa office na mas gusto yang low DP pero malaki monthly.

Kahit bigyan mo pa computation wala pa din. Kanya kanya talaga.

what is ideal to you might not be for others.

Meron nga kaya in cash pero preferred pa din mag monthly.n

Yun nga lang snakepit talaga yan, dame napapaso dame na rerepo isama mo pa low dp and Grab/uber delikadong combi.

Condo? Mahirap yan compared sa napapaso sa low DP ng oto, laki monthly sa equity tapos by the end of terms need mo na bank approval in case ipapasok mo sa financing. Hindi basta basta igrab ng tao.

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I think they're hoping that what they earn from Uber or Grab would pay for their amortization. And so they're risking it.

**Wh1stl3r** · April 15th, 2017 07:30 PM

Originally Posted by _Cathy_

Magkano naman kaya monthly niyan? Baka umaabot ng P20k? What blows my mind e kung kaya mo magbayad ng P20k a month, bakit di mo kaya magipon ng P500k in 2 years? Keysa yung 5 taon nagbabayad ng P20k at high interest.

Condo ata on a certain year may lump sum payment and that cost millions diba? How could people who barely have savings afford that?

As shadow said, they have the yolo mentality. They live in the moment. These people are not financially literate and it will take nothing short of a miracle for them to pay off the loan in full.

I have a friend like that. He was earning enough to pay his low dp loan naman. Sabi ko lang sa kanya before he got the low dp maybe he should save first so that maliit na lang yung huhulugan. Just in case something bad happens.

Ang tingin pa sa kin parang ako yung tanga. E 5 figure dp lang daw maaout na nya yung Ford nya. Times got tough as a big competitor moved in and stole half his clients. Ayun, hanggang ngayon maya't maya dalaw ng loan sharks sa bahay nya. Di pa pala bayad bahay, ilang trucks at yung isang commercial lot nya. He had to sell a lot of stuff just to stay afloat.

I also wonder if the loaners are making any money. Baka puro repo na sila.

**_Cathy_** · April 15th, 2017 07:45 PM

Oh my goodness

I wonder what the wife had to say about the financial decisions of your friend. Damay buong family dyan.

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**cast_no_shadow** · April 15th, 2017 07:49 PM

The most outrageous thing I heard was.

May assured 6 months na pang hulog na ako, I asked how about the remaining 54 months?

Bahala na.

Wow!

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**_Cathy_** · April 15th, 2017 07:52 PM

Yan ang risk taker!

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**Wh1stl3r** · April 15th, 2017 07:54 PM

Originally Posted by _Cathy_

Oh my goodness

I wonder what the wife had to say about the financial decisions of your friend. Damay buong family dyan.

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I'm sure it's along the lines of "malas lang talaga" and "seswertihin din tayo". 😀

**Calistro** · April 15th, 2017 07:54 PM

You'd think people will learn from these anecdotes and their own personal experience. Nope, got to keep up with everyone and show the world their new stuff

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**CVT** · April 15th, 2017 09:01 PM

Originally Posted by Calistro

You'd think people will learn from these anecdotes and their own personal experience. Nope, got to keep up with everyone and show the world their new stuff

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Because "I am better than the rest of them...."

"It won't happen to me...."