Tag Archives: second hand

Don’t buy this second hand car! Not so obvious signs you should look out for.

You already know the standard guidelines on 2nd hand car or used car buying:

1. bring a mechanic (or someone who knows cars) with you; 2. closely check on the car body for repairs or paint jobs done; and 3. make sure the registration papers are clean, legit, and updated.

Aside from that, here are a few more tell-tale signs that you may want to consider:

enginelightstickerPhoto credit: Creative Commons Attribution 2.0 Generic (CC BY 2.0). By Twelvizm, used with permission. 

1. Tires tell a story

Are the tires worn out or mismatched?

We expect tires to get worn out, as much as we expect the car owner to replace them when they do get worn out. Continue reading Don’t buy this second hand car! Not so obvious signs you should look out for.

Cars depreciate!

I’m in the market for a new(er) car these days but with the slew of Ondoyed vehicles, you can’t be too sure which ones in the second-hand market safe(r) to buy. I might violate my personal finance rule of never buying a brand new car since the depreciation alone in the first year is devastating.

I just find it funny that many cars posted online don’t seem to bear the rightful price for the vehicle. Why is it that an 18-year old two-door Civic still sells for Php 160k to 200k. I’ve seen ’93 Corollas still sell for 150k while their fair depreciated value would only be around 80k, perhaps 100k tops if it’s still well-maintained and bears low-mileage for its age.

Some would cite the number of modifications they’ve done to the car as the reason for the high pricing. Sure, modifications do cost money. An engine swap alone can set one back as much as 60k. However, modified cars, unless they’re modded by experts and if the owner keeps meticulous records, are migraines waiting to happen than prize catches.

You might be lucky if you find someone selling his modded car that’s only been used for “pang-porma” but chances are, the owner would probably have redlined it once or twice. As far as my experience goes, it’s always better to go with an all-stock car.

Still, it’s a challenge to find a second-hand car that’s been pretty well-maintained by the previous owner. I just can’t believe the prices that many sellers still set for their cars. I refuse to believe that cars have stopped depreciating since three years ago. Cars depreciate, you know.

Fabricated Car Repairs: The Filipino Habit

One thing you have to note these days, if you can save in any way as far as car repairs is concerned you would be more than willing to grab it. For pinoy car owners who often want to save and make do with fabricated repairs for their cars, rest assured they would grab it. Compared to having your car fixed as a whole or bringing it to the actual Casa, imagine the savings you can get. If you are lucky, you can even get better service since we all know that some car shops can shortchange you so that you will come back.

Fabricating repairs can include various car parts such as:

1. Under Chassis
2. Engine Support
3. Bushings
4. Air Conditioning
5. Brakes and Clutch
6. Tires
7. Dents
8. Suspensions

There will always be the so-called “replacement parts” or “second hand parts” that will be offered to you. Compared to the brand new or original ones, you can make do with them but the timeline for their durability is surely incomparable to the authentic one.

However, cost-wise, these are the alternative you just have to consider. With limited budgets and the need to use your car, you have to get repairs done even if they would mean for a temporary period of time.

Just be sure you save up to replace them with better parts after some months though. Expect these fabricated parts to give ways as they are walking in between safety and durability. They are bound to give in a couple of months so be wiser.

Car Sale Decline Expected for Brand New and Second Hand

In a time where finances are much of a burden, people are turning towards public transportation to get to their point of destination. For the time being that the economy is on a turnstile, sacrifices which include that of using your own car is not only a necessity but an option.

Through all of this you have to wonder how cars will fare. This covers both brand new and second hand vehicles in the market. In short, to gain extra income for rising expenses, selling your car may be an option. But that is if someone will buy it.

Through the years we have seen a lot of Filipinos buying second hand cars like the usual Toyota Corolla, Honda Civic or even the Mazda 323. But today, people have stayed away from them, seeing them as additional expenses as far as fuel and car maintenance is concerned. On the average you can expect to spend at least PHP 5,000.00 on a car for maintenance while gasoline varies depending on your destination. And no thanks to the regular price increases, people are left with nothing much to spend for gas these days.

For the brand new vehicles, who in his right mind can afford to spare on the average PHP 700,000.00 to PHP 1,000,000 on a car these days? They can always use the financial assistance from banks but can you handle the monthly amortization that ranges from PHP12,000.00 to PHP25,000.00 a month? That is like spending rent on an apartment and perhaps your monthly utilities and groceries already.

The point here is that cars are a luxury. While we all want to live in it, we just have to face the fact that now is not a great time to pursue it. We can dream of buying a car. But let us wait for the right time to do it.