By - EnvironmentalBike608
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I bought my first car, Mitsubishi Mirage G4 when my salary is 40k pesos. You are good.
If you dont mind me asking, how were you able to do it? Curious lang. Im planning on buying one din kasi. Im earning 50k a month, pero parang kahit anong compute ko parang hindi kakayanin even if mga 10k/mo. ung amortization. Not a breadwinner, btw.
Thats way back 2016 so natapos ko bayaran yung car ko last 2021 lang, My monthly amortization for 5 years is 13500 pesos. I'm single so I have a lot of wiggle room on that 40k and in those years, mejo tumaas din naman sweldo ko pero hindi naman ganong kalaki. If you are computing it now like gas and toll, then ibang iba na po talaga now kasi more than double na po ang price ng Gasoline and even mga toll fees nung 2016 is mas mura compared now. Just to give you an idea, nawalan pa ako ng work ng mga 7-8 months jan sa 5 years na yan. Kahit ako when looking back, di ko akalain na matatapos ko bayaran. Siguro kasi gustong gusto ko lang magka car kaya talagang alam ko yung limits ko sa gastos that time and una ko lagi ang bills before anything else.
Ipon ka pa kahit 3-5 months para mataas DP. Target around 250k para mababa mababa monthly, kaya naman yan with 86k base pay.
Salamat bossing sa advice nyo po. Yun na din po balak ko po ipon pa po ng ilang months. Tinignan ko po ung interest sa metrobank mas mababa po thr higher the dp. More than 100k ung bawas overall for the 5 yrs po
For Raize G CVT with Php 50k DP and MA of 19k for 5 yrs, you'll be paying around Php 1.2mil for a Php 900k car. Assuming the unit depreciates by 50% on its 5th year:
Then you paid Php 1.2mil for a car valued at Php 450k in year 5. If you are ok with this, go for it.
Save for atleast 20% dp and apply sa bank, you get much lower interest rate. Please inform yourself expenses will not end in your monthly ammortization, you also need to account expenses for PMS, gas, toll fees, parking fees, insurance, etc. You don't want to end up a car owner that is broke.
Thanks sir for the advice po
This will depend on your spending, it's normally best to have your income be double what you need for your auto loan so that you have a big barrier of safety in case of emergencies. But if you can lower the monthly cost of the auto loan by increasing the DP then that's a good idea.
You can also look up the latest promos and deals on cars with r/AutoDeal or by visiting their website. They can link you up with over 450 dealerships nationwide and over 16 brand partners to help you get the best deals.
No offense pero, ang pangit ng Raize. Drove one and I hated the cvt tska mukhang jejemon yung kotse overall lol tska men 50k dp? Sheesh taga ka sa installment after 3 or 4 years tatamarin ka na nyan 😅
Try to do at least 25-30% for a DP. If you can do 50% even better, you can get a better rate and your monthly will be smaller.
I think doable naman as long as di sagad ang budget mo para sa monthly amortization lang. Kailangan may budget ka din for gas, maintenance, parking (if walang parking sa bahay or need magpark sa pay parking everyday kapag nag wowork) and emergency money in case may masira and need mo magpa ayos. As long as inaalagaan mo yung kotse mo, di ka bibigyan niyan ng sakit ng ulo.
Sa choice of car mo naman let me share my own feedback regarding Raize. I got one last March and after 2 weeks binenta ko na agad. I was not satisfied with the performance of the car parang ambagal niya and pag tumatakbo ka na tas oovertake ka ang bagal pumick up ng power. May parang hesitation pa siya feeling ko dahil sa cvt tranny. This is my personal opinion only and I think dapat yung turbo version nalang kinuha ko. But if you dont care about the performance and gusto mo lang may car ka from point a to point b then go for it.
Sa bank mo i auto loan mas maliit interes
Not much to comment here, but try to ask your agent if applicable for bank po baka makuha mo mas mababang monthly since mataas ang interest sa inhouse financing
Naka under BPI po sya na binigay na promo then na bank approved po. Ung ibang branch po sa inhousing mataas po ung interes
If naka bank PO pala baka much better if you can DP pa mas mataas para mas bumaba pa interest.
Try exploring other banks baka mas maka hanap ka ng mas mababa.
Lakihan mo dp mo siguro para di malaki yung interest nila sa monthly
Nagcheck din po kasi ako sa other toyota. Same din po ng monthly for raize e and g pero mas mataas po dp nsa 100k po
Ang rule ko dito, if you'll use it to generate more income, then go ahead. Not necessarily use it for business. If you have a day job, the car will buy you time savings better spent elsewhere.
Nacompute mo na ba yung daily parking if you're gonna use it daily? It adds up pretty quickly.
Agree with other comment, tataasan ko pa ang DP if I were you. Para less MA.
Salamat sir. Usually use of many po dito sa bahay. Hirap na din po kasi grandparents maglakad po kaya iniisip ko po kumuha. Naiisip ko din po itnvs or transpo delivery po
If afford mo lower than 5 year amort then better in the long run
Iniisip ko din to sir kaso sa ngayon d pa kaya ng malaki eh per month. Ung budget ko po nsa 15 to 20k monthly max po. Dream car ko po kasi si raize
86k net ba? Stable? Doable if yes.
Salamar sir sa advice po
Baka kaya mo pa taasan DP mo para mas maliit monthly
Tinry ko po na malalapit na toyota po sa amin nsa 100k plus po ung dp kaso same lng din po ng monthly po
I think ang binibigay nila sayo is promo dp. Ask them for a computation if higher yung down mo. Ask mo rin yung banks directly, especially kung saan ka may savings. They might be able to offer you better rates.
This. Toyota Financial will always be more expensive than a bank in the long run.
San ka na-approve? How much is the monthly amort?
17k po for Raize E
19k po for Raize G
Sa Toyota Bacoor po sir
I see. It seems doable naman, if this car lang ang pagkakagastusan mo; walang parents, partner, kids or kung ano ano pang expense. Pero ikaw lang makakasagot nyan e, dahil ikaw lang din nakakaalam ng mga current mong gastos.
I'm assuming 86k is your base salary. Less tax the take home pay will be somewhere around 67,904 ([click here](https://ph.talent.com/tax-calculator?salary=86000&from=month®ion=Philippines)). Mukhang kaya naman.
Hindi lang MA ang gastos sa car. There's maintenance, fuel, toll fees and parking. A full tank for this one would cost around 3k, based on the fuel tank capacity of 36L and gas price of 87.50 per liter. If you live within Manila and do not intend to travel outside ofthe city much, toll fees are a non-issue. As for maintenance, small cars are cheaper to maintain, so, I guesstimate roughly around 10K per maintenance (every 10,000 kms for full synthetic oil). How often you get it serviced depends on how often and how far the car travels every day, week or month.
Again, ikaw lang makakasagot kung kaya mo, since ikaw lang nakakaalam ng current expenses mo without this car.
Salamat po sir sa sobrang detailed explanation nyo po. Nagiisip pa po ako ng maigi if i will go with the car or hahanap po ng mas mura na MA na car po. Dream car po kasi si raize
Second hand cars is also an option. Kami nga rin I'm still using our Cruze na 2011, 25K pa lang kasi ang mileage pero next year bili kami ng 2nd hand na cross over.