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Philkotse.com is amongst the biggest and most trusted online selling platforms for second-hand vehicles, and you are currently viewing available units listed by private car owners and certified car dealers around the Philippines. You may already have a brand and model in mind, as well as a set budget. Some of you might be browsing to get an idea of how much money you need to save for a pre-owned Opel vehicle.
But did you know that you actually have two options on how to pay the used car you want to buy?
One is through an installment basis with the help of a financing company or bank. Another is, of course, paying it fully in cash. The question now is: “Which is better?”, especially since opinions are divided.
With that being said, Philkotse.com will provide some of the benefits and drawbacks of paying in cash and opting for financing.
Nowadays, a lot of private financing companies and banks are now offering financial assistance not just for brand-new units but also for second hand ones. That is actually why it has been easier for most Filipinos to have a car.
Apparently, in contrast to paying in cash, you are not required to pay for a huge amount immediately. You would only need to pay the required down payment. Also, you can choose to pay more than the down payment so that you have smaller amounts to pay monthly.
Paying a monthly car amortization is actually the main disadvantage of opting for a financing company. Additionally, this comes with an interest, so you will actually be paying more than the listed price of the unit.
Nonetheless, by paying in an installment basis, when saving for the down payment, it would also be easier to save for initial repairs and upgrades. Thus, upon closing the deal and driving the vehicle, you can change whatever you want to make it perform better and give it a personal touch.
Definitely, a pre-owned vehicle will be far more affordable than a brand-new unit. As such, most people can save up and pay a decent unit fully in one go. The main advantage of paying it fully before driving it home is that you no longer have to think about monthly amortizations, which could add up to your monthly bills.
Another advantage is that you can negotiate with the seller and ask for a discount. Keep in mind that the price will not always be fixed, even if the vendor says so. You can still haggle and meet halfway with the seller.
Do note though that once you own a car, whether brand new or pre-owned Opel car Philippines or any other automakers, it comes with responsibilities. Meaning, you have to take care of it. A second-hand unit might require some replacements or after some time, repairs.
Of course, maintenance is mandatory. Thus, if you are paying in cash, make sure you also have an alloted immediate budget for such.
As you can see, the advantage of one is the disadvantage of the other. In choosing the right payment option, you must consider your monthly income, as well as disposable money. By that, we mean the amount of money that you can spend after considering your monthly bills, savings, and emergency fund.
If you can go about adding another expenditure, then go for financing. Conversely, if you can save up to pay in cash without compromising your basic monthly needs, then go for cash payment.
Thank you for browsing our list of used Opel Coupe / Convertible for sale . If you need more buying advice and tips, we have a lot of articles that can help you out. We also have car reviews and news. Hope you drive your own car the soonest!