New car price: ₱488,000
New car price: ₱3,240,000
New car price: ₱1,308,000
Take some time to write down what you want from a car: How many people does it need to sit? Would you like it to be small or large? Are there certain features that you feel you can’t live without?
Now you've decided it's time to get a car since it is more convenient and economical, especially with the worsening traffic conditions and commuting problems in the Philippines. You looked into several options: brand-new and pre-owned vehicles. But still, you haven't decided whether to go for a new or pre-owned vehicle. That is understandable since you have a lot of things to consider.
Narrowing down your brand and model choices took time and wasn't easy. Same goes with selecting between 2nd hand and brand new Hyundai Eon vehicles. However, the secret to this is to ask yourself the right questions, and here are some of them:
We said dispose instead of spend for certain reasons and would be clarified as we give you a rundown of the obvious and unforeseen money lost or expenditures when buying a new or used cars.
The most apparent amount that will take a toll on your budget is the actual worth of the car. For second-hand Hyundai vehicles, you won't have a problem with this since the amount is already indicated.
For brand-new units though, this will depend on whether you would pay it in cash or have it financed. If you opt for financing, compute for the resulting total cost of the car. And you should also ask yourself if you have a disposable income for the monthly amortization.
Unlike for lots, a car's value depreciates over time. When you buy a new vehicle Hyundai Eon, once you drive it, the value already depreciates. Hence, you've already lost or dispose off a certain amount of pesos. Also, once you decide to sell it after a few years, the price would be far lower than what you've spent at the time you bought it.
On the other hand, for second-hand Hyundai Eon cars, the initial depreciation cost was shouldered by the original owner already. That means you can actually sell the unit in the future in the same amount or a little lower than how much you paid for it.
As opposed to depreciation, a brand-new Eon wins when it comes to saving money from maintenance and/or repairs. That is because most, if not all, car dealers offer their cars with a warranty that includes regular maintenance and/or parts and labor replacements. Similarly, a new car would most likely not require any repairs in the first few years.
On the contrary, a pre-owned vehicle from Hyundai Philippines or any other auto manufacturers in that matter would surely have problems in a year or two of usage, depending on the condition of the unit, as well as how it was maintained by the previous owner. And you, as the new owner would be responsible for shouldering all those fees.
Nonetheless, if you are lucky enough to find a used vehicle that still have a warranty and the maintenance schedule has been followed, then you wouldn't have to spend on such during the remaining warranty coverage.
We here at Philkotse.com cannot truly recommend if a used car is better than a new car and vice versa. The main deciding factor is your “disposable income” or the money you are willing to spend without compromising your other needs.
With that being said, if you opt for second-hand vehicles, make sure you are buying from reliable platforms and people. You should also make sure that you are equipped with right knowledge before meeting or dealing with a car seller. If you need those information, we have a lot of car buying tips and advice that you can read.