Car sales might have seen a slight dip recently because of higher excise taxes, but this hasn't stopped major manufacturers from flooding the market with new offerings.
More than a dozen launches from a handful of car companies took place during the first half of 2018, with brands like Toyota, Nissan, Suzuki, Volkswagen and Mitsubishi bringing in everything from midsize SUVs and sedans, to more affordable MPVs and hatchbacks.
But with the vastly different financial landscape in the Philippines due to higher vehicle prices (thanks a lot TRAIN), are any of these newly launched cars still within the average Filipino motorist's reach? To answer this question, we used the BPI Auto Loan Calculator to see how much some of these new arrivals would cost with 20% down payment and 5 years of monthly amortization.
Now, we're not telling anyone to go out and buy a car they'll have to pay off over five years. You don't need a financial expert to tell you that's the most expensive option in the long run, but there's still something to be said for a light monthly payment. Our results do show that there are still a number of options available even with more humble budgets.
Check out some of the newly launched models available in the P15,000 per month range below:
Mitsubishi Xpander GLX MT (P885,000)
Volkswagen Santana (P686,000)
Suzuki Dzire 1.2 GL+ (P698,000)
Suzuki Swift GL CVT (P899,000)
JAC S3 1.6 MT (P910,000)