Post by juanrodriquez623 on Dec 2, 2017 2:22:39 GMT -5
Have two budgets: one for the initial purchase of the car, another to make it truly roadworthy. My rule of thumb is you should have a "fix-it" budget that's at least 20% of the purchase price. So if you buy the car for P500,000, you should have a budget of at least P100,000 for parts that will need to be replaced. If you don't have this "fix-it" budget, I guarantee you will be very stressed when the temperature needle starts climbing, when the mechanic tells you it needs new rack ends, a new A/C compressor, a new this or a new that. (On the bright side, since the maintenance issues won't have the frequency of monthly payments for a brand-new car, it won't be painful all the time).