Top 5 ways to save money on that New car

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Top 5 ways to save money on that New car

According to LTO’s (Land Transportation Office)2013 and 2014 record, more than 200,000 new cars are being registered each year in the Philippines and is expected to grow more by the end of 2014. It is easy to get fascinated by the scent of a new car.  It is a dream come true for most of the Filipinos but before you sign the dotted line, it is highly recommendable to do the research first and get the most out of your hard-earned peso.


1. Research the car –  The first approach is to research the car you need or want.  Again it is important to determine if you really need the features or just a pleasure to have.  A 1.6-liter car may be cheaper to buy and cheaper to run than a 1.8 liter.  A cloth upholstered seat can save you thousands as compared to the leather ones.  Do you really need climate control?  These extras can easily prop up the price of the car.


2.  Shop for finance.  Get the cheapest interest rate that you can find.  Banks do whatever they can to get your business.  It might take extra effort for you to do some leg work but it can be worth it.  Remember, it’s a 4 to 5-year commitment.  So, it’s worth doing some homework.  It can save you thousands.


3.  Choose the dealership.  Again, it’s worth calling a few car dealers to compare prices.  Aside from the stocks that may not be available to your local car dealers,  other dealers may be in a position to move more cars and may give you a better deal than others.  They can offer you free extras like mats, full tank of fuel, tint, etc…


4.  Buy Accessories as separate. Normally, you can source out the same brand and specs for a cheaper price outside the dealership.  A popular place to go to is the shops at Banawe, Quezon City.   You can save a lot especially if you’re buying many extras for your car.


5.  Compare Car Insurances.  This is another aspect that must be taken into consideration.  Car insurance offered in the dealership maybe a lot higher in price as the same car insurance company offered outside.  For example, You can save 5 to 8 thousand pesos just by comparing car insurance.  Nowadays, you can check the car insurance comparison site and compare multiple car insurance offers in less than 5 minutes.  A good car insurance comparison website can source you a fixed deductible, casa repair, and 6 months terms of payment.




Author: erwin reyes

Erwin has a combined experience of more than 15 years in the car insurance industry in the Philippines and Australia. Loves cars and enjoys to sourcing out great deals for its clients