Financial Blog

Hyundai Eon 0.8 GLX 5 MT

Although light, a Hyundai Eon is a powerful car that ticks off all the boxes when it comes to style, comfort, economy, and safety. This five-door hatchback can seat five passengers and still have enough trunk space for your luggage.

The car uses all the right technology, including an eco-friendly Epsilon engine, motor driven power steering system, weight reduction, and reduced friction loss to give you fuel efficiency and considerable mileage.

This unit comes in different colors and is one of the most economical vehicles available starting at P274,000 to P320,000.

KIA Picanto 1.0 EX

The KIA Picanto is your ideal city car with elegant European-inspired interiors. It has a 5-speed manual transmission that can give you a fairly nice boost in a matter of seconds.

This hatchback can seat five passengers and offers standard features like keyless entry, power windows, fog lamps, and a four-speaker stereo.

You may choose from the Signal Red or Galaxy Black color variants at a selling price of P300,000.

Mazda BT-50 4×2 HI 2

If you’re looking for a pickup truck that can give you more value than regular vehicles, the 2016 Mazda BT-50 is a good choice. This utility vehicle offering from Mazda has an engine size of 2.2L.

Some of its amazing features are the full leather seats in its interior, climate control in manual or automatic mode, a multifunction steering wheel, a hands-free kit, electric side mirrors, and much more.

This two-wheel drive automatic transmission runs on diesel and is for sale at P1,080,000.

Aside from being affordable compared to brand new units, bank-repossessed cars are in good condition, and can give you the quality, performance, and style you look for in a car.

Quick Tips Before Buying Used Cars

Before you make up your mind, consider these tips before buying a second-hand car:

Do some car research

Take the time to look for your car of choice online. Ask people in your circle or automotive web forums how the car holds up. Some factors you should consider are the availability of its parts and the maintenance cost for that model. Also, read car reviews to compare your target model with similar models from competing brands.

Check the mileage

You’d want to go for a lower mileage to be confident that the car and its parts have not been through too much wear and tear. Usually, when cars have reached the 60,000 to 70,000-km mark, that’s when the parts start to show signs of deterioration.

Inspect the vehicle

You’ll need to be thorough in checking all the aspects of the car, including the bay engine, interior, gauges and lights, seats and seatbelts, air conditioning, wipers and windshield washer, tires, and paint quality. They should not only work, but should also have no signs of being filled, bent, scratched, or touched up.

Test drive it

When you test drive the car you’re eyeing, listen for knocking sounds as you turn the steering wheel or when you accelerate the vehicle. It’s best to have a mechanic tag along with you and ask for his opinion about issues that might crop up during the test drive.

Going through a diagnostic checklist will greatly aid you in making an informed decision. After all, no matter how much you save buying a secondhand car over a brand new unit, you’ll still be forking a considerable sum of money. Might as well be meticulous about it, right?