what it is worth to own a car in the philippines
April 6, 2011 4:36am CST
owning a car won't end with you purchasing one. it takes more than that. if you bought the car through financing, you have to save up for its monthly amortization. you need also to have it registered and renew it every year. you need to purchase an insurance for it yearly as well. you have the option to get TPL or comprehensive insurance. Of course the coverage of the insurance would depend on the amount of insurance you are paying. You need to have it maintained as well. If your car is brand new, then it is still under warranty, therefore the fees that you will be paying for its routine maintenance is lower. the older your car gets, the higher the expense you'll have to spend for its maintenance. there are unfortunate times when your car will just breakdown or you will get yourself in some sort of accident. No matter what the magnitude of the damage, you'll need to spend some money and some time to have it get fixed. Buying accessories and giving your beloved car a good bath will also entail money. Of course your car needs gas or else it wouldn't start. with the all this price hike on fuel going, i wonder if there will be something left out of your pocket if you use your car and having yourself stucked in heavy metro traffic going to and from work everyday (of course it would depend on how far your workplace is). If you need to travel via nlex or slex, you need also to take into consideration the hike in toll fees. these are the things one should consider before buying a car in the philippines (in metro manila/luzon particularly).