Buying my first car - Inquiries

[sean-archer]

I don't wanna think na Naka quota na yung SA mo at icount na yung sayo for next month. I'm just bring pessimistic here. Pag hindi sya respond pre pwede naman sa supervisor nya ka mag followup Lalo na may hinahabol ka deadline

[rinkana]

I don't wanna think na Naka quota na yung SA mo at icount na yung sayo for next month. I'm just bring pessimistic here. Pag hindi sya respond pre pwede naman sa supervisor nya ka mag followup Lalo na may hinahabol ka deadline

Yan nga iniisip ko e. yun. tatanong ko pala yan sa inyo. hehe. Kung pede tumawag na nga ko mismo sa Dealership at maghanap ng ibang tao? tapos sabihin ko na lang na nabigyan na ko ng quote pero di responsive ung SA.

[sean-archer]

Yan nga iniisip ko e. yun. tatanong ko pala yan sa inyo. hehe. Kung pede tumawag na nga ko mismo sa Dealership at maghanap ng ibang tao? tapos sabihin ko na lang na nabigyan na ko ng quote pero di responsive ung SA.

Other SAs won't entertain you, protocol Yun, bawal agawan ng client kumbaga. But the supervisor will entertain your concern.

[The Hound]

Yup, dapat tuloy tuloy na yan after PO. Pag may unit nang malapit ilabas sa yo, kukulitin ka ng SA to get the bank to give the ATD (authority to deliver). Meaning nabayaran mo na yung chattel mortgage, one-month-advance and any other fees).


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Sir what if the bank already issued a PO but the dealership thru the SA doesn't issue a unit ( delaying tactics, supply issues, etc.).

Ang case kasi bayad na chattel and insurance sa bank, and issued na PDCs for the 60 mos amortization. Although for the DP, pinahold ng SA kasi wala pang available and mahaba daw yung queue ng reservation.

May habol ba ako ( bec of the PO and payments made) if ever?

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[tr1ck5h07]

Sir what if the bank already issued a PO but the dealership thru the SA doesn't issue a unit ( delaying tactics, supply issues, etc.).

Ang case kasi bayad na chattel and insurance sa bank, and issued na PDCs for the 60 mos amortization. Although for the DP, pinahold ng SA kasi wala pang available and mahaba daw yung queue ng reservation.

May habol ba ako ( bec of the PO and payments made) if ever?

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Coordinate with your bank if you can choose another dealer who has a unit available for you. Tell them about your situation so they can help you.


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[shadow]

Sir what if the bank already issued a PO but the dealership thru the SA doesn't issue a unit ( delaying tactics, supply issues, etc.).

Ang case kasi bayad na chattel and insurance sa bank, and issued na PDCs for the 60 mos amortization. Although for the DP, pinahold ng SA kasi wala pang available and mahaba daw yung queue ng reservation.

May habol ba ako ( bec of the PO and payments made) if ever?

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What chattel and insurance and binayaran mo? Eh ano na insured ng bank eh wala pa Unit? Hangin ang na insured nila? Baka pwede ka na rin mag claim sa Insurance mo ng bangga?


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[sean-archer]

Did the bank and insurer ask for the car details first? Only the dealer can provide this details.

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[tagatamong]

1. It is usually cheaper to buy it in cash as may interest ang financing one way or the other. Freebies might, however be more kapag financing dahil mas malaki kita ng ahente galing sa financing.

2. Insurance, I'm not sure if pwede monthly, pero sa akin, I pay it yearly. In the case of my VW Golf GTS which cost 1.4M, nasa around 36K a year. Mas mababa to pag masmura ang car. PMS is dependent rin sa model ng car, pero mine nasa P9,000 for 15,000km. For Toyota in general, mga P3,000 - P6,000 ang PMS every 10,000Km depende sa model rin.

3. Corolla all the way if your budget permits naman.

Regarding buying with cash, what you're really losing in it is the opportunity cost since you're parting right away with your cash. If you want the money, or worse, need the money, tough luck. At least when you pay 30% down and finance the rest, you can still pull out the 70% in case something happens.

I know someone who learned this the hard way. Paid for a car in cash, then some family member goes terribly ill. He nearly had to bleed dry his savings account. If only he paid let's say 30% down, he would still have that other 70% in hand which he can realign for medical bills. Car monthlies can nearly be covered by his salary anyway.

Now about interest, the crux of the matter. Pinoys don't like being ripped off and they think interests rip them off. But then, how easy it is nowadays to offset the interest charged by banks? Preferred shares, for example, on average carry dividends rates of more than 6% per annum. How much is the interest rate for a when you finance 70% of the car amount payable in 3years? 5.5% to 6%, around that figure. Dividends alone then covers the interest assuming you bought enough to equal the 70% financed amount. And you only have to do this once if you do not touch your fund.

In short, paying in cash is the naive choice. It's good but it leaves you open because it bleeds your cash flow. There are better options nowadays.

[rinkana]

Update. Nagreply na sakin si SA pero sadly, wala daw unit na available. Reserved ung unit pero walang price and promo protection. Ganun ba talaga un? Ung sa kawork ko kasi, nakapagprocess naman xa kahit walang unit. Then, nagwait na lang hanggang maging available ung unit. Balak ko sana magpalit na lang ng branch or kotse mismo. Bagong approval ulit kay bank un no? Dahil ibang price ung naapprove na una?

[tr1ck5h07]

If there’s no unit available, they can’t lock the price. If you want to get one before the new year, I suggest find a branch that has the car you want in stock na. Madali lang mag issue ng bagong PO. Just tell your bank about your plans before executing it. They can help you.


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