Buying a New Car on Finance

[cfatchma]

Well I'm just saying... it depends sa depositor... We can make it 6 months or 1 year or auto renew...

Baka naman term deposit 4% PER ANNUM na three (3) months ang maturity....

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my_2_cents

[my_2_cents]

Well I'm just saying... it depends sa depositor... We can make it 6 months or 1 year or auto renew...

Maski bali-baligtarin mo MAS MALAKI ang interest sa CAR LOAN kaysa sa kikitain ng pera sa TERM DEPOSIT....

--
my_2_cents

[cfatchma]

Ok. Thanks for your opinion... But I'm not a person who can be dictated.

I don't need comments on what would be advantageous & not, base on your computation etc. What I'm asking is if I can pass the car loan application. A comment of yes or no and a little explanation on posters who have an idea. that's it.

If not, then so be it. I'm not in a hurry.

Maski bali-baligtarin mo MAS MALAKI ang interest sa CAR LOAN kaysa sa kikitain ng pera sa TERM DEPOSIT....

--
my_2_cents

[subsonicsky]

cfatchma: May payo ako pero medyo mahirap pakinggan. It's up to you whether to take my advice or not.

Simple lang naman: huwag ka munang bumili ng kotse.

May kotse ka pa naman. Even if you say it's more than 10 years old, late 1990s and early 2000s models are still good enough. Alagaan mo na lang through good maintenance and good driving habits.

I don't know if you know, but the Lancer GLS you are planning to buy is an 8th generation one, which was the latest model from around 2000 to 2007. It just happens to still be sold in the Philippines. It has been superseded on 2007 by the 9th generation, called the Lancer EX.

So if it's just the newness that you want, you won't see that in the Lancer GLS.

And also we have the matter of your income. Let me be blunt for your own good: Your money is better spent elsewhere. Remember na hindi sa iyo yung 1 million Pesos sa bangko; sa magulang mo yun. You mentioned yourself na halos ubos na yung balance sa personal bank account mo. Never mind the argument you have with my_2_cents about which interest rate is higher. Keep your present car and put your extra money in your savings and not in installment payments.

Later in your career you will surely advance and have more income than now. That's when you can think about making medium-large investments like getting a new car.

Magisip po tayo ng long-term not short term.

Quite frankly, I am surprised that you said this. I suggest that you go through another round of meditation and rearrange your priorities. May kotse ka na; keep it. Ipon muna.

[jnyarop]

cfatchma: May payo ako pero medyo mahirap pakinggan. It's up to you whether to take my advice or not.

Simple lang naman: huwag ka munang bumili ng kotse.

May kotse ka pa naman. Even if you say it's more than 10 years old, late 1990s and early 2000s models are still good enough. Alagaan mo na lang through good maintenance and good driving habits.

I don't know if you know, but the Lancer GLS you are planning to buy is an 8th generation one, which was the latest model from around 2000 to 2007. It just happens to still be sold in the Philippines. It has been superseded on 2007 by the 9th generation, called the Lancer EX.

So if it's just the newness that you want, you won't see that in the Lancer GLS.

And also we have the matter of your income. Let me be blunt for your own good: Your money is better spent elsewhere. Remember na hindi sa iyo yung 1 million Pesos sa bangko; sa magulang mo yun. You mentioned yourself na halos ubos na yung balance sa personal bank account mo. Never mind the argument you have with my_2_cents about which interest rate is higher. Keep your present car and put your extra money in your savings and not in installment payments.

Later in your career you will surely advance and have more income than now. That's when you can think about making medium-large investments like getting a new car.


Quite frankly, I am surprised that you said this. I suggest that you go through another round of meditation and rearrange your priorities. May kotse ka na; keep it. Ipon muna.

Hi,

Agree po ako sa inyo. Maiba ko lang po topic sana magreply kayo. Hehe.

I'm in the US btw. I'm currently driving late 90's nissan. Hindi pa gaano katagalan sakin yung kotse pero ever since na binili ko, maayos naman maintenance ko, oil change etc. Recently, lumipat ako ng job which is now approx 30km freeway drive. Medyo may noise na yung engine itself kaya medyo nttakot ako baka kasi bglang bumigay or something. Or one day eh kailangan ko ng tow at malate ako sa work etc.

I have a little savings to buy a brand new car, I can put some downpayments and pay the rest monthly. Do you think I should drive the car til it dies or habang maaga eh palitan ko na?

Ayoko pa sana bumili ng bago dahil mas masarap mag ipon, at may ginagamit naman ako. pero dahil nga sa situation na luma na ang kotse at laging malayo ang iddrive ko, medyo nagwoworry *** ako.

Salamat.

[my_2_cents]

I'm in the US btw. I'm currently driving late 90's nissan. Hindi pa gaano katagalan sakin yung kotse pero ever since na binili ko, maayos naman maintenance ko, oil change etc. Recently, lumipat ako ng job which is now approx 30km freeway drive. Medyo may noise na yung engine itself kaya medyo nttakot ako baka kasi bglang bumigay or something. Or one day eh kailangan ko ng tow at malate ako sa work etc.

I have a little savings to buy a brand new car, I can put some downpayments and pay the rest monthly. Do you think I should drive the car til it dies or habang maaga eh palitan ko na?

Ayoko pa sana bumili ng bago dahil mas masarap mag ipon, at may ginagamit naman ako. pero dahil nga sa situation na luma na ang kotse at laging malayo ang iddrive ko, medyo nagwoworry *** ako.

Salamat.

E kung ipagawa mo na lang ang sira?

--
my_2_cents

[jnyarop]

E kung ipagawa mo na lang ang sira?

--
my_2_cents

Wala naman sira pero yung engine mismo ang tumutunog, its either talagang bibigay na **** ang engine dahil matanda na ang kotse. You mean palitan ng engine? Nakow mahal yun mas okay bumili na *** ng bago.

[my_2_cents]

Wala naman sira pero yung engine mismo ang tumutunog, its either talagang bibigay na **** ang engine dahil matanda na ang kotse. You mean palitan ng engine? Nakow mahal yun mas okay bumili na *** ng bago.

Pinatingnan mo na ba sa talyer ang "tunog" ng engine na sinasabi mo? Anong sabi ng talyer: ano daw ang sira at magkano ang magagastos?

Baka naman iyong sinasabi mong "tunog" ng makina ay butas na tambutso lamang....

--
my_2_cents

[subsonicsky]

jnyarop, I agree with my_2_cents. Take that car to a shop that you can trust, have them look at it, and ask for advice. They will be able to tell you kung bumibigay na nga talaga ang kotse mo.

Maybe that engine noise can be fixed perfectly with only a few hundred dollars. Compare that to buying a new car for thousands of dollars.

Since you're in the US, probably your monthly income will be able to easily support financing a new car anyway (just don't go overboard). Though like cfatchma, it will still be your decision in the end.

[kittypryde03]

I think sa pre-screening ng car loan application isa sa guidelines nila is stability. that the borrower should at least 2 years in employment/business and your would-be-monthly amortization should not exceed 30% of your gross monthly income. but this is just one of those guidelines.. I'm sure they will also consider the financial background you posted before. there's no harm in trying libre naman yata ang pagpass ng application.

[maseraticrg]

around 40k atleast. (pde natin gawan ng paraan yan) i work at toyota, pm me if youre going to buy a toyota , i can help you with that, =)

[Plak]

pano kung less than 40k ang salary na naka declare sayo, although most of your earnings ay galing sa allowance? e.g 30k salary 40k allowance.

[maseraticrg]

pano kung less than 40k ang salary na naka declare sayo, although most of your earnings ay galing sa allowance? e.g 30k salary 40k allowance.

kaya naman kung ganyan, basta nagrereflect sa bank statements mo at mejo matagal ka ng may transactions na galing sa allowance na yan. makikita naman sa cashflow yan e pag pinakita mo yung bank statement mo. =) pero minsan di yan inaapprove, hanap ka ng kilala mo sa bank para mas madali. =)

[trooperman]

Do not get from dealers. They will offer you freebies pero hindi naman talaga yun freebies kasi kasama yun sa mangyayare monthly mo. Based on experience ito. i regret getting it from Hyundai Otis mismo. mas mababa sana kung sa Banko ako dumeretso. wew..

[maseraticrg]

Do not get from dealers. They will offer you freebies pero hindi naman talaga yun freebies kasi kasama yun sa mangyayare monthly mo. Based on experience ito. i regret getting it from Hyundai Otis mismo. mas mababa sana kung sa Banko ako dumeretso. wew..

Di naman po lahat ng dealers ganyan. kung minsan kasi may mga ahenteng garapal, na gagawin lahat makabenta lang. sasabihin nila free insurance , lto reg., chattel etc. pero ang lalabas e mataas din ang interest sayo kaya bawi din nila. saamin chncharge namin lahat ng mga yan at inaamin namin lahat ng charges sa client. mas importante sakin trust and loyalty than kumita ka nga ng malaki, tapos masisira ka namn sa client..