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Top Gear Philippines

Here's why your dream car is closer than you think

CREATED WITH BPI Auto Loan

If you’re like most guys, you’ve dreamt of owning a car from the moment you were old enough to drive one. A college degree, a job, and perhaps even a marriage later, for some of us that dream is…well, still a dream.

But here’s the thing: if you’ve always dreamed of being a car owner, there’s no better time than today. Here are five reasons why your dream vehicle may be closer to you than you originally thought.

You actually already have the funds for it. Think about it: you already spend so much on commuting, that it's actually enough for you to start paying for your own car. Say you spend P300 a day on taxi fares: that's P9,000 a month—or, actually enough for your monthly payments on a car of your own! Why spend all that time and effort standing in line, waiting for a ride, when you can own your ride? It's all about changing the way you think about the money you already have.

Flexible payment plans. A car is a major investment, but you don’t have to pay for it all in one go. When you get an auto loan, you can actually choose a payment plan that works best for you. Need a bit more time to pay for your car? Some auto loan providers offer a payment term of up to five years. To make the monthly payements easy and affordable, one could opt for longer loan terms. 

Special program for first-timers. Given the demand for cars, banks are making it easier than ever for first-time buyers to get their dream vehicle. Some even have car plans specifically designed for customers just like you. Under such special programs, you are free to select what your down payment and monthly amortization will be.

So much variety. Whatever your dream car is—whether its a sub-compact, sedan, hatchback, wagon, pickup, SUV, van—our market most likely has it. Chalk it up to a booming auto market, where an estimated 360,000 vehicles were sold in 2016, a 25% increase from 2015. You can be assured you won't be starved for choices when it comes to finding the ride of your dreams. 

Online calculators. Buying a car requires a major tinkering of your budget to make sure that you can make car payments on top of rent, food, and other necessities. Luckily, BPI Family Auto Loans has a nifty calculator tool that helps you see just how much your monthly car amortization will be. Just input the vehicle’s price, the amount of down payment you’ll make, plus the length of time (term) for the payment of the loan, and the tool will automatically compute your monthly payments.

Getting that shiny new ride is really much closer than you might think. Just imagine the amazing road trips you can do, the convenience of not having to commute, and riding in comfort wherever you go. These are just a few things you'll get to enjoy behind the wheel of your own ride, and you have to agree: having your dream car is going to be excellent! 

For more information on BPI Family Auto Loan, click here

This article was created by Summit StoryLabs in partnership with BPI Auto Loan.

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