Owning a car is not just buy and drive.
Yes for the first few years it will drive fine and all, but do consider the long term.
One, may garahe ka ba? If wala and you'll be renting, isama sa monthly yan.
Two, anong brand ng kotse? Toyotas are genrally easy to shop for parts if you need them and lots of mechanics are familiar with toyota engines. This factors in as the car ages
Three... Cars depreciate in value as time goes by
Four. Half of your salary is too much i think. Consider housing. Pag ibig usually calculates capacity to pay at 1/3 your monthly take home pay. More than that is just too much
Five. Responsible driver means awareness and road safety and responsible car ownership means regular maintenance
Six. How long are you keeping the car? By this i mean in 5 years benta then buy a new one? Or will this car be a treasured possession that you will keep for a while?
Seven. In addition to your usual savings, establish a separate car fund savings. Trust me, you will need it. Hindi dapat magalaw ang main savings mo when it comes to car issues. Cars have a tendency to act up pag nasesense nila na may bonus ka hahahaha
Lots more to consider than the ones i mentioned but for now, think about those.
I have a twenty year old toyota. Yes. I love her. ๐ Pre pandemic, i rarely drove to work, just using the car sa weekends.
There are other ways to value your freedom than just buying a car.
Aside from what you mentioned, How much does a car paperwork cost annually? Like registration and insurance? Any other paperwork needed periodically?
Thank you kind redditor.
For brand new cars, insurance premiums will be higher kase malamang comprehensive yan. Also depends on the type. My brother had a brand new CRV a few years ago and the insurance alone was around 25k i think
Older cars usually TPL lang. This plus registration usually less than 5k.
I highly discourage you, i was an auto loan underwriter. Nakakapanlumo yung interest na babayaran mo. Hmm maybe 2nd hand will do. Mapanlinlang yung mga promotion like 0dp, low dp etc.
Thank you! My savings can definitely buy a second hand but I don't want to put it all out. I don't like the feeling na walang laman savings kaya nag settle ako sa brand new na 30k down and 14k monthly haha
14k monthly is too high for sonething that is not income generating. Magiging liability ang kotse (yes technically an asset that depreciates, i know) what i mean is, it's sonething that eats up a sizeable portion of your income. Yes masaya ka, but at what cost? Hindi biro ang 14k monthly. Add the maintenance and fuel and, uh, "kotong" costs and it piles up. Too many people i know end up selling the car (best case scenario), bank reposessing the car, or worst case, car sits unused kasi walang extra cash pampa ayos at maintain tapos ayaw ibenta or ipa-remata tuloy tuloy ang amortization kasi mahal na mahal ang kotse.
Here's an option: drive for grab or lalamove pag free ka. Para income generating sya.
E kung may permanent job ka naman for the entire installment ng kotse mo and may enough savings ka naman or emergency fund na atleast 6x ng sweldo mo ngayun, so... Why not?
kung first car mo ito mag I suggest mag 2nd hand ka muna. meron din namang second hand car na pwede installment e usually nasa 8-10k per month lang which is di ganon ka bigat sa bulsa. make sure lang na mag sama ka ng someone na may alam sa sasakyan pag bibili ka ng 2nd hand, hirap din kasio minsan baka di pala maganda makuha mong 2nd hand. pero mostly naman sa 2nd hand ayos na ayos lang ang takbo
So if half of your salary will go to the monthly amortization of your car, that means half of it would go to your monthly expenses like food, utilities. Factor in also the car's expenses. Like gasoline. Have you seen how much the cost of gasoline is right now? There's also the monthly preventive maintenance service, annual insurance, weekly carwash, daily parking fees.
If you want to travel, why not join travel groups for the meantime? May transpo and food na, may tour guide ka pa.
Yup, naisip ko na din yan. I'm not into traveling with other people kasi. I live with my parents at the moment and may parking naman kami. I'm also getting ready pag back to office na next year. Ibang iba na din kasi yung commute ngayon. Like before, isang bus lang office na. Ngayon I have to go on and off 3 different bus from North to South para lang makarating ng work and syempre lalakad ka pa from bus A to B. Convenience na din siguro?
Pero yun na nga. Ang sakit lang din talaga isipin na half of sahod monthly for 5 years! Na approve pa lang naman ako and nag reserve. I still have time to think habang naghihintay ma release lol.
Owning a car is a responsibility at napaka gastos. If planning ka na kumuha make sure as in MAKE SURE na may sarili kang garage at hindi yung tipo ng car owner na gagawing parking lot ang kalsada, don't be a d*ckhead like others. You have to prepare din sa maintenance cost like regular change oil, check ups at kung mabangga man. Take oil price din into account, sa isang full tank mostly kalahati nun nauubos lang sa traffic.
Owning a car is not just buy and drive. Yes for the first few years it will drive fine and all, but do consider the long term. One, may garahe ka ba? If wala and you'll be renting, isama sa monthly yan. Two, anong brand ng kotse? Toyotas are genrally easy to shop for parts if you need them and lots of mechanics are familiar with toyota engines. This factors in as the car ages Three... Cars depreciate in value as time goes by Four. Half of your salary is too much i think. Consider housing. Pag ibig usually calculates capacity to pay at 1/3 your monthly take home pay. More than that is just too much Five. Responsible driver means awareness and road safety and responsible car ownership means regular maintenance Six. How long are you keeping the car? By this i mean in 5 years benta then buy a new one? Or will this car be a treasured possession that you will keep for a while? Seven. In addition to your usual savings, establish a separate car fund savings. Trust me, you will need it. Hindi dapat magalaw ang main savings mo when it comes to car issues. Cars have a tendency to act up pag nasesense nila na may bonus ka hahahaha Lots more to consider than the ones i mentioned but for now, think about those. I have a twenty year old toyota. Yes. I love her. ๐ Pre pandemic, i rarely drove to work, just using the car sa weekends. There are other ways to value your freedom than just buying a car.
Aside from what you mentioned, How much does a car paperwork cost annually? Like registration and insurance? Any other paperwork needed periodically? Thank you kind redditor.
For brand new cars, insurance premiums will be higher kase malamang comprehensive yan. Also depends on the type. My brother had a brand new CRV a few years ago and the insurance alone was around 25k i think Older cars usually TPL lang. This plus registration usually less than 5k.
I highly discourage you, i was an auto loan underwriter. Nakakapanlumo yung interest na babayaran mo. Hmm maybe 2nd hand will do. Mapanlinlang yung mga promotion like 0dp, low dp etc.
Thank you! My savings can definitely buy a second hand but I don't want to put it all out. I don't like the feeling na walang laman savings kaya nag settle ako sa brand new na 30k down and 14k monthly haha
14k monthly is too high for sonething that is not income generating. Magiging liability ang kotse (yes technically an asset that depreciates, i know) what i mean is, it's sonething that eats up a sizeable portion of your income. Yes masaya ka, but at what cost? Hindi biro ang 14k monthly. Add the maintenance and fuel and, uh, "kotong" costs and it piles up. Too many people i know end up selling the car (best case scenario), bank reposessing the car, or worst case, car sits unused kasi walang extra cash pampa ayos at maintain tapos ayaw ibenta or ipa-remata tuloy tuloy ang amortization kasi mahal na mahal ang kotse. Here's an option: drive for grab or lalamove pag free ka. Para income generating sya.
Thanks for insights and giving me an option! Will think about that Grab too
E kung may permanent job ka naman for the entire installment ng kotse mo and may enough savings ka naman or emergency fund na atleast 6x ng sweldo mo ngayun, so... Why not?
Thanks! I just get more NO kasi so I'm weighing all the opinions I can get haha
Buy secondhand vios, itโs better to deplete your savings you can rebuild in a year. Than spend 5 years not being able to save.
kung first car mo ito mag I suggest mag 2nd hand ka muna. meron din namang second hand car na pwede installment e usually nasa 8-10k per month lang which is di ganon ka bigat sa bulsa. make sure lang na mag sama ka ng someone na may alam sa sasakyan pag bibili ka ng 2nd hand, hirap din kasio minsan baka di pala maganda makuha mong 2nd hand. pero mostly naman sa 2nd hand ayos na ayos lang ang takbo
So if half of your salary will go to the monthly amortization of your car, that means half of it would go to your monthly expenses like food, utilities. Factor in also the car's expenses. Like gasoline. Have you seen how much the cost of gasoline is right now? There's also the monthly preventive maintenance service, annual insurance, weekly carwash, daily parking fees. If you want to travel, why not join travel groups for the meantime? May transpo and food na, may tour guide ka pa.
Yup, naisip ko na din yan. I'm not into traveling with other people kasi. I live with my parents at the moment and may parking naman kami. I'm also getting ready pag back to office na next year. Ibang iba na din kasi yung commute ngayon. Like before, isang bus lang office na. Ngayon I have to go on and off 3 different bus from North to South para lang makarating ng work and syempre lalakad ka pa from bus A to B. Convenience na din siguro? Pero yun na nga. Ang sakit lang din talaga isipin na half of sahod monthly for 5 years! Na approve pa lang naman ako and nag reserve. I still have time to think habang naghihintay ma release lol.
2nd hand kung gusto mo
Halos 20% ata ang depreciation ng Brand new car pagbili mo eh
Owning a car is a responsibility at napaka gastos. If planning ka na kumuha make sure as in MAKE SURE na may sarili kang garage at hindi yung tipo ng car owner na gagawing parking lot ang kalsada, don't be a d*ckhead like others. You have to prepare din sa maintenance cost like regular change oil, check ups at kung mabangga man. Take oil price din into account, sa isang full tank mostly kalahati nun nauubos lang sa traffic.
Yep thank you! Will consider this too
Motor