Preparing for your dream car: Things to consider in buying a sports car

Getting ready for your MIAS 2017 car shopping

Car geeks, it's that time of the year again. This coming March 30 - April 2, the Manila International Auto Show (MIAS) 2017 is coming to showcase the newest and sexiest cars in the Philippines.
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Last year we were greeted with awesome car displays like the Chevy Corvette, Subaru WRX STI, and the ultra sexy Lamborghini Murcielago.

Images from Out Of Town Blog
This year? Rumors have it, the 2017 Chevrolet Spark, 2017 Mazda CX-5 and MX-5 RF, 2017 Subaru Impreza, 2017 Volkswagen Tiguan, and 2017 Volvo V90.

What we’re most excited about? The 2018 Honda Civic Type-R.

Image from Honda
MIAS is a car show unlike any other, with car showcases from every corner of the auto industry here in the country, luxury or otherwise. But before you go drooling over your dream car, have you ever figured how it’d be like to own a sports car in the Philippines?


First off, where can I drive it?
Close your eyes and imagine yourself driving your dream car. Do you feel the speed and adrenaline as you hit 140kph on the highway? Good.

Now open your eyes and take a look at EDSA. Do you think it's possible to drive your dream Ford GT even past 30kph down here? Sadly, no-- but you have other choices.

James Deakin's suggestion: the scenic mountain roads of Tanay, Rizal going up to Sierra Madre.

Image from The opeN Notes
His tip: just watch out for bikers who'll be joining your ride up the mountain.
The best highlight along this route will be the view overlooking Sierra Madre along the Marcos Highway in Sitio Boso.

Second, what are my choices?
It’s surprising to see the data when it comes to car sales in the Philippines with a 27.8% Year-on-Year growth in the start of 2017.

Just last year, we saw news of McLaren exploring an entry  into the Philippines, showing how there’s a market open and ready, waiting for new luxury cars coming into the country.
For now though, here are the top car brands available in the Philippines.

• Aston Martin
• Audi
• Bentley
• BMW
• Chevrolet
• Dodge
• Ferrari
• Honda
• Hyundai
• Jaguar
• Jeep
• Kia
• Lamborghini
• Land Rover
• Lexus

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• Lotus
• Maserati
• Mazda
• Mercedes- Benz
• Mini​
• Mitsubishi
• Nissan
• Peugeot
• Porsche
• Rolls Royce
• Subaru
• Toyota
• Volkswagen
• Volvo

​Our top picks:

For the supercar lover: Lamborghini Murcielago
Price: Price Upon Request (But to give you an idea, priceprice.com pegs a used Murcielago for P14M. Woah.)

For the executive: Audi A5
Price: P4.4M+

For the roadie: Mercedes Benz SLK Class
Price: P4.3M+

For the car geek on a budget: Mazda MX-5
Price: P1.7M+

Lastly, how much does it cost?
Here comes the messy part.
Besides from the usual cost of the car itself, you’ll have to take into account different factors—but basically it comes down to these four things:


1.      Vehicle Cost (Financing Options)

• Ideally, you’ll want to pay as much as you can for the down payment to minimize the amount you’ll need to finance.
  
  It’s possible for you to drive out of a dealership with a car for as little as 10% down payment and take as long as 72 months to pay off the balance, with the usual amount of 20% down payment and 60 months to pay. Don’t forget though, the longer the loan duration, the higher the interest you’ll have to pay.

2.      Maintenance Costs

• Higher priced cars leads to higher priced maintenance costs and parts. This may seem scary at first, but here’s something to give you a little shiny ray of hope: Gian Paolo Brambilla of PGA Cars explains that: “… for a luxury vehicle, service intervals will be farther and fewer compared to other cars. Average cars need tune-ups at least annually; a luxury vehicle can go for two years before it needs a general maintenance check. Its genuine parts, though pricier, will last longer, too.”

3.      Fuel consumption (Gas vs. Diesel)

• Another thing to consider are the costs and performance gains connected to gas and diesel variants in cars. Diesel cars typically get better performance as compared to gas guzzlers, but cost higher when it comes to actual vehicle costs.
  
  Fret not though, as you save much more on diesel prices when it comes to fuel consumption (as much as a P10 difference per liter as compared to gas prices).

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4.      Car Insurance (How to properly insure your supercar)

• Here comes the tricky part. It’s one thing to have your dream sports car in your garage, it’s another to know the ins and outs of having your sports car and your limbs protected.
  
  Tip #1: Know the actual selling price of your car (or it’s fair market value for second hand ones) to determine the proper insurance coverage.
  
  Tip #2: Don’t deny it. The first thing you’ll do once you get that shiny new supercar is run past 140kph on SLEX at around 12am with no cars around. Just in case something unfortunate happens, be sure to get ample Third Party Bodily Injury and Property Damage coverage. Just in case.
  
  Tip #3: Declare EVERYTHING. Your accessories, high end stereos, shiny mag wheels, rear spoilers, etc. Anything you add on to your car should be declared in case of damage or loss due to theft to determine the proper valuation of your car. Any modifications to your car should be declared as well to avoid any technicalities during an insurance claim.

Whether you own a Murcielago or a Toyota Wigo, keep in mind all the countless hours of sweat, blood, and tears you’ve put into getting a down payment for your dream car. A little protection for your multi-million or quarter-million car will go a long way.
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