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Author Topic: Buying Your First Car  (Read 39797 times)

rhumbafrapp

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Re: Buying Your First Car
« Reply #40 on: September 27, 2011, 12:24:50 PM »
Mga sis, i am thinking of buying a car (kahit 2nd hand, 1996up), galing sa sarili kong savings. I have savings account pero no checking account. My sister doesn't want to split with me over the payment (pero makikisakay siya ha!) So im on this on my own talaga. Naisip ko, gift ko narin for myself for my 25th...may mga questions ako, if you can please answer them

1. i have scouted a car i want, i can pay in cash, full. Can i get a better discount that way?
2. pag used car but 1st time driver, do i need to get the "highest" insurance policy?
3. what are the things i should take note of when buying a car? like insurance, LTO registration, what else??


Talagang pinagiisipan ko mag aral and mag drive na. There was this instance kasi both my dad and aunt had to be rushed sa emergency room, ni isa samin magkapatid walang marunong, panic talaga ako pano namin sila dadalin.

clueless

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Re: Buying Your First Car
« Reply #41 on: September 27, 2011, 06:21:49 PM »
^ congratulations at galing sa savings ang pambili mo. mahirap gawin yan ha. i bought my first car at 26, 2nd hand din, sariling sikap din.  :)

to answer your questions:

1. san ka ba bibili? discount - depends na on your negotiations with the owner.
2. minimum required is TPL (third party liability) insurance that you need to get when you have the car registered with the LTO every year. it would be good to have comprehensive insurance but the older the vehicle, the higher customer participation is. tsaka baka hindi na din tanggapin ng insurance agencies pag super luma na ng car.
3. do you mean ano dapat ang titingnan mo to know that it is a good buy or ano ang mga responsibilities na kasama kapag may sarili ka nang sasakyan?

rhumbafrapp

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Re: Buying Your First Car
« Reply #42 on: September 27, 2011, 06:35:17 PM »
^thanks sis for answering my questions, as for the 3rd question, yun mga responsibilities :)

ycka29

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Re: Buying Your First Car
« Reply #43 on: September 28, 2011, 03:11:14 PM »
hi mga sis,

question lang. dunno if this is stupid or what. pag ba 2nd hand car tapos in-apply ng loan sa bank.. the bank will pay the owner in full?

i have a friend who is selling his car (cash) and im thinking if i can apply an auto loan for that

bluish_mommy

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Re: Buying Your First Car
« Reply #44 on: September 28, 2011, 03:15:02 PM »
^not in full, pero kasi percentage lang ng appraisal nila dun sa car ang ipapa-loan sa iyo. so kailangan mo magdownpayment.

at di ko rin sure kung nagpapa-car-loan ang bank kung hindi sa kanila ang possession ng car, but just to answer your question, banks do not approve 100% of the loan amount (Car or House), talagang kailangan magdownpayment ka.

clueless

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Re: Buying Your First Car
« Reply #45 on: September 28, 2011, 10:38:14 PM »
Ycka29, ang taas ng interest ng 2nd hand car loan ha, as much as 45% sa bpi! Pero mataas appraisal nila. But the car must not be more than 6 month old.

lhanny_07

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Re: Buying Your First Car
« Reply #46 on: October 26, 2011, 08:36:20 AM »
hello mga sis newbie sa thread na ito, mga sis ano ba yung CHATTEL MORTGAGE, yearly fees ba yun? or monthly? lets say if i make 20% dp sa car, yung monthly amortization ko would increase also ba because of insurance and CM?

Thanks!!
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anneG

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Re: Buying Your First Car
« Reply #47 on: October 27, 2011, 03:50:05 PM »
which one is better as a 1st car Hyundai Accent 1.4A/T or Honda City 1.3A/T?

clueless

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Re: Buying Your First Car
« Reply #48 on: October 27, 2011, 08:53:11 PM »
^^ chattel mortgage is a one-time charge, part of your initial cash out. Comprehensive insurance is yearly.

lhanny_07

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Re: Buying Your First Car
« Reply #49 on: October 27, 2011, 09:37:13 PM »
thanks sis clueless! sis super ask na talaga ako, as in 0 knowledge ako about cars..hehe, sis ang pinaka-collateral sa car loan ba is yung mismong car? thanks sis!
"a working mom with a full time heart"

clueless

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Re: Buying Your First Car
« Reply #50 on: October 28, 2011, 12:27:54 AM »
^ yes.

anz

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Re: Buying Your First Car
« Reply #51 on: November 04, 2011, 04:31:01 AM »
What's the minimum downpayment for BPI? Is it 10 or 20%?  :)

mint123

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Re: Buying Your First Car
« Reply #52 on: November 05, 2011, 03:48:18 PM »
If I'm already working for 2 years but I've only been with my current employer for less than a year, will my application be rejected? I'm planning to buy a 2nd hand car (preferably a mitsubishi lancer '95 or below) with a budget of 140k only. 4k monthly lang kasi yung kaya kong MA.

clueless

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Re: Buying Your First Car
« Reply #53 on: November 07, 2011, 09:54:51 AM »
^ i dont think pwede mag car loan for a 95 model. 2nd hand car loans usually dapat medyo bago din pa ang car. Sa bpi 6 months old or less yata. Tapos ang taas ng interest (abot ng 45%!).

Sa ganyang amount na 150k lang, bakapwede mag personal loan ka na lang sa bank, hindi car loan.

HeartHeart

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Re: Buying Your First Car
« Reply #54 on: November 08, 2011, 06:21:43 AM »
we bought our first car in cash full payment.   :-*
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wahmjunkie2

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Re: Buying Your First Car
« Reply #55 on: December 27, 2011, 06:21:01 AM »
We're planning to buy a brand new car. Gusto sana namin ng plate number bearing specific letter and number combination pero hindi vanity plate like ABC123. Posible kaya yun or classified na rin as vanity plate?

ravena

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Re: Buying Your First Car
« Reply #56 on: December 28, 2011, 10:11:50 AM »
may interest po ba yung pay in 3 years? thanks!
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newbie_po2

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Re: Buying Your First Car
« Reply #57 on: December 28, 2011, 11:55:16 AM »
wahmjunkie2 sis sa pagkakaalam ko yung last digit lang ang pwede ipapili. so maybe classified nga yan.

ravena sis depende kung promo nila yan. pero usually talaga may interest na yan, kahit nga 1 year pa lang.

:)

laine19

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Re: Buying Your First Car
« Reply #58 on: December 29, 2011, 01:12:01 PM »
mga sis, can you name at least 3 banks na maganda maginquire to buy a brand new car? in terms of annual interest.
i am based overseas, and we are planning to apply for a car loan at any bank located in our country.
thanks!
what is right is often forgotten by what is convenient

laine19

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Re: Buying Your First Car
« Reply #59 on: December 29, 2011, 01:46:48 PM »
^ 20% down lang, 5 years to pay.

@clueless, hi! is it required na my bank account ka sa bpi? in 5 yrs how much po annual interest? pls reply. thanks!
what is right is often forgotten by what is convenient

 

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