Step-by-Step Guide to Car Insurance Renewal in the Philippines
- By Venus Zoleta
- May 10, 2021
Need to renew your car insurance? This is the best time to review your policy and make necessary changes to it, so you can save money on car insurance. Unlike when you bought your first policy, you now have a better idea of what you really need for insuring your vehicle. So take it as an opportunity to choose the most suitable car insurance policy for you. Here’s a complete guide on how to renew car insurance in the Philippines. Table of ContentsWhen Should I Renew my Car Insurance Policy?How to Renew Car Insurance in the Philippines1. Review Your Policy2. Assess Your Car Insurance Coverage3. Decide on Your Deductible4. Review Your Car Insurance Provider5. Get and Compare Car Insurance Quotes6. Choose the Best Car Insurance Policy and Provider7. Provide or Update Your Information8. Pay for Your Car Insurance Renewal9. Read the Fine PrintFinal Thoughts When Should I Renew my Car Insurance Policy? Most car insurance policies last for a year, which means yours will likely renew 12 months from when your policy started. For example, if your policy’s effectivity date is June 1, 2020, its car insurance renewal due date would fall on June 1, 2021. If you can’t remember your insurance plan’s effectivity date, look for it on the copy of your policy. You may also call your insurance provider or broker to ask when your policy is up for renewal. How to Renew Car Insurance in the Philippines Should I keep my existing policy or shop for a new one? Is it time to change my car insurance…
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Need Extra Income? 8 Ways to Make Money Using Your Car
- By Ricky Publico
- May 5, 2021
You know the old saying, “With great cars comes great expenses”? You probably don’t, but you won’t find the lie in that statement. You’ll be spending a lot on fuel, maintenance costs, and car insurance in the Philippines. Not to mention that the older your vehicle, the lower its resale value is. Because of this, it’s best to maximize your vehicle until it’s time to say ‘goodbye’ and purchase a new one. According to a research conducted by Toronto Star[1], the average lifespan of newer vehicles is 12.88 years, which means you’ll have more than enough time to figure out how to earn money using your car in the Philippines. Fortunately, the fact that a car can conveniently get you from points A to B means you won’t run out of business ideas. Here are a few ideas you can try out. Table of ContentsHow to Earn Money Using Your Car in the Philippines1. Offer Delivery Services to Neighbors2. Become a TNVS Driver or Operator3. Organize a Carpool Group4. Start a Shuttle Service Business5. Rent Out Your Car6. Become a Driving Instructor7. Sell Advertising Space8. Sell Your VehicleFinal Thoughts How to Earn Money Using Your Car in the Philippines 1. Offer Delivery Services to Neighbors If you’re the unofficial social butterfly of your neighborhood, you can offer to be a delivery person for your neighbors. You can take their pets to the groomers, pick up and deliver packages for them, or offer to buy their essentials. Owning a car during the pandemic can be an instant source of income by offering your services to those…
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10 Tips on Buying a Used Car in the Philippines
- By Venus Zoleta
- April 29, 2021
You’ve decided to purchase a used car, and you’ve started to hunt for the right one for you. The next steps will be a lot trickier than the car buying decision. Of course, you want a vehicle in the best condition possible at the lowest price. Just because you’re buying a second-hand car doesn’t mean you’ll settle for a huge piece of junk, right? Used cars are raging in the Philippine auto industry today. Take it from all the online communities where car advertising websites and car sellers are in speaking terms. Buying a used car can help you get value for your money. However, purchasing a second-hand car is more difficult than getting a brand new one. This is why apart from getting auto insurance in the Philippines, it’s important that you be very meticulous and careful when buying a pre-owned vehicle. Here are some tips on how to buy second hand car in the Philippines. Table of ContentsHow to Buy Second Hand Car: Tips to Protect Yourself1. Research Your Options Extensively2. Compare Used Car Prices3. Check the Mileage4. Set a Reasonable Budget5. Dig Deeper into the Car’s History6. Check the Second Hand Car Thoroughly for Red Flags7. Never Skip the Test Drive8. Negotiate a Fair Price9. Check the Documents Needed When Buying a Used Car10. Don’t Forget InsuranceFinal Thoughts How to Buy Second Hand Car: Tips to Protect Yourself 1. Research Your Options Extensively Before contacting sellers, make sure you arm yourself first with enough knowledge about the used car model you want to buy and its price…
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9 Possible Reasons Your Car Insurance Claim Got Denied
- By Ricky Publico
- April 22, 2021
Now that you have auto insurance coverage, you’re guaranteed financial protection from any car-related damage you might incur on the road. However, car insurance doesn’t give you the license to act recklessly out there. You can’t just apply for a claim after a car accident and expect to receive money in an instant. Your insurance provider will evaluate your accident thoroughly before deciding to cover the expenses or not. If you got your car insurance claim denied, don’t freak out just yet. There’s probably a good reason why it was rejected in the first place. Table of Contents9 Reasons Why Car Owners Get Their Car Insurance Claim Denied1. Unpaid Premiums2. Policyholder’s Negligence3. Lack of Coverage4. Auto Insurance Policy Exclusions5. Deductible Allowance6. Unauthorized Repair7. Unlawful Activities8. Prior Damage to the Vehicle9. Direct Violation of Car Insurance PolicyWhat to Do When You Get Your Car Insurance Claim DeniedFinal ThoughtsGet a Free Car Insurance Quote! 9 Reasons Why Car Owners Get Their Car Insurance Claim Denied 1. Unpaid Premiums Your claim will obviously get denied if you still have unpaid premiums. This is why insurance providers recommend paying your car insurance in full. You’d think you’re saving money by choosing a 90-day or monthly payment plan, but that’s not the case. Accidents tend to happen sporadically. They’re so random that they can happen during the first few days of your payment plan. If that happens, you’ll end up paying for the repairs yourself, together with the remaining balance of your car insurance. 2. Policyholder’s Negligence Another obvious reason for a denied car insurance…
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Top 10 Reasons Filipinos Don’t Get Insurance
- By Moneymax
- April 20, 2021
According to the Philippine Life Insurance Association, Inc., fewer Filipinos were covered by microinsurance—which is a much more affordable policy option—as September 2020 ended. Sales dropped by 33.23% from PHP 6.58 billion in 2019.[1] The decline might have been caused by the pandemic. But it also goes to show that some people, even if they’re financially able, may still be averse to the idea of getting insurance. Some don’t consider purchasing a policy, whether it’s life insurance or Compulsory Third-Party Liability car insurance cover, unless necessary. Insurance is actually beneficial for everyone, as it helps offset costs for a lot of expenses, from school fees to medical bills. Still, one can’t help question why a lot of Filipinos avoid insurance. Table of ContentsTop 10 Reasons Filipinos Avoid Insurance1. “I don’t have enough money.”2. “Bahala na!”3. “I still have a lot of time.”4. “I don’t understand it.”5. “It’s a scam.” 6. “There’s a lot of work involved!”7. “It’s not considered an investment, right?”8. “I’m still healthy.”9. “It’ll just invite more risks.” 10. “I’m already paying for government-mandated benefits.”Why You Should Not Avoid InsuranceLess Upfront ExpensesLess Stress, Less HassleConvenient Claims ProcessFinal ThoughtsGet a Free Car Insurance Quote! Top 10 Reasons Filipinos Avoid Insurance Here are the most common reasons people are still not getting an insurance policy, whether it’s for car, life, and property. 1. “I don’t have enough money.” This is the common statement that a lot of financial advisors and insurance agents hear from their potential clients. It may sound like an excuse, but it could be a real one. A…
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What is Roadside Assistance and Why Should I Get It?
- By Venus Zoleta
- April 13, 2021
When shopping around for car insurance, one of the terms you’d often encounter is roadside assistance. It’s common, but what exactly is it? And how can it help you when you’re on the road? Here are the essential facts you need to know when deciding if you should get roadside assistance in the Philippines. Table of ContentsWhat is Roadside Assistance in Car Insurance?What Does Emergency Roadside Service Cover?Roadside Assistance Benefits and ServicesShould I Get Roadside Assistance Coverage?1. Less Hassle While Driving2. The Danger of an Overheating Engine3. Avoid Expensive Repair Bills4. Peace of MindWhat to Consider When Getting This Kind of Coverage1. Your Vehicle’s Age2. How Often You Drive3. Where You DriveHow to Get Roadside Assistance Coverage in the PhilippinesWhich Car Insurance Companies Provide Free Roadside Assistance?Get a Free Car Insurance Quote!Final Thoughts What is Roadside Assistance in Car Insurance? Roadside assistance is a car insurance add-on that provides professional services to policyholders when their vehicle breaks down or figures in an accident. If your insurance policy has this coverage, you just have to call your provider’s assistance hotline to get help during a roadside emergency. Depending on your needs, the car insurance company may send a tow truck to move your car to a repair shop or a technician to perform a minor repair like changing a flat tire or jumpstarting your battery. What Does Emergency Roadside Service Cover? The services that make up road assistance programs vary from one car insurance provider to another. But there are commonly available services for covered vehicles. Roadside Assistance Benefits and Services Vehicle Assistance…
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Brand New or Second Hand Car: Which is the Right Vehicle for You?
- By Ricky Publico
- April 6, 2021
Prices of brand new cars in the Philippines have gone up, following the higher excise taxes imposed by the TRAIN or tax reform law. And with a global pandemic affecting everyone’s financial capabilities, it’s now easier to choose between a brand new or second hand car. Because of this, second hand car dealers are expecting more Filipinos to turn to the used car market, at least for the next three to four years. It makes sense—with a limited budget, your choices could as well be limited to the affordable options. Used cars are obviously the cheaper alternative, but is it really wise to buy a second hand car than a brand new one? Or is it the other way around? The right choice varies from one car buyer to another. Table of ContentsBrand New or Second Hand Car: Comparing the CostsToyota WigoToyota ViosHonda CityMitsubishi XpanderFord Ranger5 Reasons to Buy a Second Hand Car1. You Can’t Afford Your Desired Model2. You Prefer to Pay in Lump-Sum Cash3. You Want to Buy a Phased-Out Model4. You Want Lower Car Insurance Costs5. You Plan to Resell the Car in the Future5 Reasons to Buy a Brand New Car1. You’ll Purchase via a Car Loan2. You Need a Car ASAP3. You Don’t Want to be Bothered with Frequent Repairs and Maintenance4. You Want to Save Money on Gas5. You Have No Plans of Reselling the CarFinal ThoughtsCompare Car Insurance Quotes with Moneymax! Brand New or Second Hand Car: Comparing the Costs Before we split hairs between new and used cars, let’s find out what they’re…
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Taking the Driver’s License Exam? Learn How to Pass the LTO Tests
- By Venus Zoleta
- March 30, 2021
All applicants for driver’s license in the Philippines are required to take the driving exams at the Land Transportation Office (LTO). This critical step to becoming a licensed driver ensures that only those who drive safely and responsibly are on the road. The driver’s license examination consists of a written test and a practical driving test. You need to pass both exams to get a driving license. Keep reading to know what to expect before, during, and after you take the LTO exam. Table of ContentsLTO Written Exam GuideWhat Happens During the LTO Written Exam?What is the Passing Score in LTO Written Exam?How to Pass the LTO Written ExamLTO Practical Driving Exam GuideWhat Happens During the Practical Driving Test?What is the Practical Exam Scoring System?What is the Passing Score in LTO Driving Exam?How to Pass the LTO Practical ExamWhat to Do During the LTO ExamChoose Your Preferred LanguageListen Carefully to the GuidelinesBe Calm While on the RoadRead the Questions and Situations CarefullyAvoid Conditions That Will Cause You to Automatically FailLTO Exam FAQs1. What happens if you fail an LTO exam?2. Are student permit applicants required to take the written exam?3. Am I required to take the exam if I convert my foreign driver’s license into a Philippine license?Final ThoughtsNeed Car Insurance? Find the Best Deals at Moneymax! LTO Written Exam Guide What Happens During the LTO Written Exam? During your driver’s license application, taking the written exam is the next step after having your photo taken, creating a digital signature, and paying the applicable fees. The LTO has made an LTO…
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6 Traffic Laws to Remember When Driving in the Philippines
- By Ricky Publico
- March 23, 2021
Traffic laws in the Philippines are meant to ensure not just an orderly flow of traffic and discipline among motorists but also the public’s safety on the road. We have laws that require wearing motorcycle helmets and seatbelts and ban people from driving when drunk and while using their phones. The question is, do you know them? You should at least know what laws are responsible for keeping the peace and order on the road. Check out this refresher if you think you need to review some of the driving laws in the Philippines. Table of ContentsTraffic Laws in the Philippines You Need to RememberLand Transportation and Traffic CodeAnti-Distracted Driving Act of 2016Anti-Drunk and Drugged Driving Act of 2013Seat Belts Use Act of 1999Children’s Safety on Motorcycles Act of 2015Motorcycle Helmet Act of 2009Final ThoughtsGet a free car insurance quote from Moneymax! Traffic Laws in the Philippines You Need to Remember Land Transportation and Traffic Code What is RA 4136? It is arguably the most important driving law ever enacted. Republic Act 4136, also known as the Land Transportation and Traffic Code[1] laid the groundwork for all the traffic regulations we have today. Plus, it also created the Land Transportation Commission in the Philippines, currently known as the Land Transportation Office. RA 4136 required all motor vehicles to be registered in a national registry. It also set the registration requirements and fees for every car owner. Aside from that, this law also required drivers to apply for a professional and non-professional license. RA 4136 also set the penalty fees for…
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Where Can I Buy Second Hand Cars Online?
- By Moneymax
- March 17, 2021
Online shopping has redefined the second hand car purchase process. Gone are the days when shopping for used cars meant spending a whole day hopping from one dealership to another and haggling a lower price. Nowadays, you can easily search where to buy second hand cars online. Visit a buy-and-sell car website, type your desired make and model, and hit enter. Within seconds, you’ll get an extensive list of second hand cars for sale. All you have to do is find the best deal for you and contact the seller to set up or negotiate the purchase. The best part of using buy-and-sell car websites? It doesn’t cost anything. You don’t even need to haggle—you can easily find cheap used car deals online. Visit these websites where you can buy used cars online in the Philippines. Table of ContentsWhere to Buy Second Hand Cars Online in the Philippines1. Carmudi2. Tsikot3. AutoDeal4. Philkotse5. PhilMotors6. Zigwheels PhilippinesFinal ThoughtsGet a Free Car Insurance Quote from Moneymax Where to Buy Second Hand Cars Online in the Philippines 1. Carmudi Carmudi[1] is one of the top places to know where to buy second hand cars in the Philippines. The website provides a host of useful services to enhance the buying experience for used cars online. The most noteworthy is its multi-point inspection service that eliminates the uncertainty about a used car’s real condition. Some of the used cars undergo full inspection—from the interior to under-chassis—before they’re put up for sale online. Buyers can download an in-depth vehicle inspection report for free, which shows the components…
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Ranking the Most Fuel Efficient Cars in the Philippines for 2021
- By Ricky Publico
- March 16, 2021
Looking to buy a car? Don’t just look at the price, the model, the color, and the size. Is the car you’re eyeing among the fuel efficient cars in the Philippines? With the rising fuel prices, fuel economy has become the most important factor in choosing a vehicle these days. The less fuel a car consumes and the farther distance it covers per liter, the better it is for your wallet. Buying a fuel efficient car means less frequent trips to the gas station and more savings on fuel expenses. Here are the best-performing vehicles in terms of fuel economy. Table of ContentsTop 18 Fuel Efficient Cars in the Philippines1. BMW X1 xDrive2. Ssangyong Rodius3. Mini Countryman4. Kia Picanto5. Suzuki Celerio6. Honda CR-V7. Suzuki Dzire8. Hyundai Accent9. Ford Everest 4×210. Toyota Prius11. Toyota Vios12. Peugeot 300813. Toyota Wigo14. Suzuki Alto 80015. Honda City16. Toyota Innova E17. Suzuki Swift18. Mitsubishi Xpander GLX MTFinal ThoughtsGet a Free Car Insurance Quote! Top 18 Fuel Efficient Cars in the Philippines 1. BMW X1 xDrive Fuel Economy Rating: 34.8 km/L Vehicle type: SUV Fuel type: Diesel Transmission: Automatic Vehicle price: PHP 3.89 million A recent eco run[1] proved just how fuel efficient the BMX X1 xDrive can be by clocking in at 34.8 km/L. This luxury vehicle is built for fuel efficiency with its BMW Efficient Dynamics Technology, TwinPower Turbo engines, and lightweight, aerodynamic design, making it one of the most fuel-efficient SUVs in the Philippines. Read more: How To Insure Your Souped-up Car The 5 Fastest Cars You Won’t Own (Yet) 2. Ssangyong Rodius…
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Weighing the Pros and Cons of Buying a Repossessed Car
- By Venus Zoleta
- March 9, 2021
Thinking of buying a used car? Consider buying a repo, also known as a bank repossessed car. Somebody else’s loss could be your gain—this is how repossession works. That’s why you should also consider the pros and cons of buying a repossessed car before spending more on a new vehicle. Banks take back cars from people who fail to repay their car loans and then put the repossessed vehicles on sale. So be careful when shopping for repossessed cars for sale. Here are the benefits and drawbacks of buying a repo car. Table of Contents5 Benefits of Buying a Repossessed Car1. Lower Prices2. Easy to Find Newer Cars in Good Condition3. Opportunity to Score a Great Deal4. Safe and Trustworthy Sellers5. Easy Car Financing OptionThe Risks of Buying a Repossessed Car1. Uncertainty about the Car’s Actual Condition2. Finding the Best Repossessed Car Takes Effort3. You’ll Have to Clean Your Repossessed Car4. You Can’t Test Drive the VehicleFinal ThoughtsGet a Free Car Insurance Quote! 5 Benefits of Buying a Repossessed Car 1. Lower Prices With the car price increasing in the Philippines due to a lot of economic reasons, cheaper options such as repossessed cars have become a more attractive option for budget-conscious car buyers. A repo car purchase can save you between 20% to 40% off the cost of a brand-new car. For example, a repossessed 2016 Toyota Vios (1.3J M/T) sold by a bank can cost up to PHP 447,000, while a new unit usually costs PHP 668,000. Of course, the car’s value has depreciated over time, but the PHP 200,000+…
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Number Coding Guide for Filipino Motorists in 2021
- By Venus Zoleta
- March 8, 2021
What could be worse than being stuck in EDSA traffic while rushing to work? We can think of several things, and getting a number coding violation is one of them. You can blame this little misfortune on the confusing number coding regulations. Or perhaps you really don’t know that you’re not supposed to be on this road at this hour. While your reasons may be valid, ignorance of the plate number coding scheme in the Philippines, or any other traffic rule or regulation, is not an excuse. As of date, the number coding scheme remains suspended in NCR, except in Makati City where a modified coding scheme is being enforced.[1] Since the coding of vehicles in Manila and other cities is suspended until further notice, take this opportunity to get familiar with roads under this scheme. This way, you can plan your daily trips accordingly. Table of ContentsWhat is Number Coding?What Time is Number Coding?Number Coding Coverage AreasCoding AreasNo Coding AreasNumber Coding Window HoursWhat is Window Hour?No Window Hour PolicyFrequently Asked Questions About Number Coding in the Philippines1. What time is the number coding in Pasig?2. Is the conduction sticker included in coding?3. When is the number coding lifted?4. Are senior citizens exempted from coding?5. What is the penalty for number coding violations?Final ThoughtsGet a Free Car Insurance Quote! What is Number Coding? The number coding scheme is a traffic management program by the Metro Manila Development Authority (MMDA) for reducing the number of cars—and ultimately ease congestion—on the road. What Time is Number Coding? Officially called the Unified Vehicle…
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How to Get Car Insurance for Second Hand Vehicles
- By Venus Zoleta
- March 4, 2021
Second hand cars are cheaper to own than brand-new ones, which is why cash-strapped Filipinos typically opt for a used unit for their first car[1]. Did you buy a pre-owned car? Car insurance for second hand cars is not an option but rather a must. To insure a second hand vehicle, owners have two choices: either retain the old car insurance policy or buy a new policy. Here’s a walk-through of how to get car insurance for second hand cars in the Philippines. Table of ContentsHow to Transfer Car Insurance Policy for a Used CarHow to Get Car Insurance for Second Hand Cars1. Check If the Used Vehicle Can Still be Insured2. Find the Ideal Coverage for Used Cars3. Get Car Insurance Quotes4. Submit the Requirements5. Receive Your PolicyFinal Thoughts How to Transfer Car Insurance Policy for a Used Car The easier way to insure a second-hand car is to keep its existing insurance policy intact. However, a policy doesn’t get transferred automatically with the change of vehicle ownership. The original owner has to get approval from the car insurance company to transfer the policy to the new owner. Do you prefer to retain the car insurance of your newly bought second-hand unit? As long as the original policyholder has not canceled the car insurance, you can have the policy transferred to your name right after finalizing the vehicle sale. The seller or original owner is the one who will coordinate with the insurance provider to request a transfer of car insurance policy. Once approved, the insurer will issue an…
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What Happens If I Stop Paying My Car Insurance?
- By Venus Zoleta
- March 2, 2021
At some point, you might be unable to pay your car insurance premium. Perhaps you ran short of cash due to a family emergency, unemployment, or any unforeseen event. So what happens if you stop paying car insurance? A lot of things that will affect your finances. Regardless of the reason you stop paying car insurance, it’s a costly mistake that can have serious and lasting consequences. You don’t want to be in such a situation. So it’s crucial to be fully aware of what can happen in case you miss a payment and what you can do to correct the situation. Table of ContentsWhat Happens If You Stop Paying Car Insurance on TimeWhat Happens If You Don’t Pay Car Insurance1. The Insurance Company Will Cancel Your Policy2. You’ll Lose Car Insurance Coverage3. Your Car Could be Repossessed4. Your Credit Score Could Drop5. Your New Premium Could IncreaseWhat to Do After Missing Your Car Insurance PaymentTalk to Your Car Insurance ProviderFind New Car Insurance CoverageDon’t Miss Your Payment AgainFinal Thoughts What Happens If You Stop Paying Car Insurance on Time Not all car insurance companies give grace periods to their clients. A grace period is a span of time after the due date during which a policy stays active even though the premium isn’t paid yet. If your insurance provider grants you a grace period, it won’t cancel your policy immediately because of a missed payment. Even if you make a late payment for your car insurance—as long as it’s within the grace period—your coverage won’t end. A few days…
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12 Best Sedans in the Philippines for 2021
- By Rouselle Isla
- February 24, 2021
If you’re shopping for a new car and looking for the best sedans in the Philippines, then this list will help you narrow down your search and purchase the one that meets your requirements. Whether you’re looking for a car you can use for everyday traveling in the city or for daily business errands, there’s a sedan that will meet your needs. Table of Contents12 Best Sedans in the Philippines1. Suzuki Dzire2. Mitsubishi Mirage G43. Toyota Vios4. Kia Soluto5. Hyundai Reina6. Chevrolet Sail7. Honda City8. Chevrolet Cruze9. Toyota Altis10. Honda Civic11. Toyota Camry12. Honda AccordFinal ThoughtsGet a Free Car Insurance Quote! 12 Best Sedans in the Philippines 1. Suzuki Dzire Suzuki Dzire prices: GA 1.2 L M/T = PHP 549,900 / GL 1.2 L – M/T = PHP 648,000 GL+ 1.2 L Auto Gear Shift (AGS) = PHP 708,000 If you’re planning on buying a car for both personal and business use, the Suzuki Dzire[1] will not disappoint. It is available in three variants to meet the different budget requirements of Filipinos and comes loaded with features in a compact body. The Suzuki Dzire has impressive good looks front and back, with LED combination lamps to make sure you’re driving easily and safely night or day. Because of its compact body style, you can easily maneuver on rough roads and tight spaces. And more importantly, it’s economical on fuel with a 12-kilometer per liter range for city driving. 2. Mitsubishi Mirage G4 Mitsubishi Mirage G4 prices: GLX M/T = PHP 735,000 G4 GLX CVT = PHP 785,000 / GLS CVT…
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Car Loan Negotiation Tips to Help You Save on Monthly Payments
Planning to buy a car this year? Unless you have lots of cash, you will have to rely on a car loan to finance your big purchase. That means you should know how to negotiate a car loan and make it a lot easier for you to pay what you owe. After all, it will take years to do so. You’ll need all the help you can get. But fortunately, you can easily juggle car loan payments as long as you properly manage your finances. So how can you make owning a car less of a financial burden? Here are some few tips on negotiating lower car loan payments. Table of ContentsTips on How to Negotiate a Car LoanRely on a Good Credit ScoreGet a Loan From Your BankPay a Higher Down PaymentChoose a Shorter Loan TermLook for More Loan OptionsPay On Time Every TimeAvail a Loan ModificationConsider In-House FinancingFinal ThoughtsApply for a Loan Through Moneymax! Tips on How to Negotiate a Car Loan Rely on a Good Credit Score If you’re planning to negotiate your car loan payments, you better have a good bargaining chip in the form of a good credit score. Before you apply for a car loan, make sure to build a stellar credit history to increase your chances of getting a lower interest rate or higher loan amount. To find out what your credit score is, you can request a credit report from the Credit Information Corporation[1] by scheduling an appointment online via their website or the CIBI App for Android users. If you have…
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Cheapest Cars to Insure in the Philippines 2021
- By Venus Zoleta
- February 18, 2021
Affordability is a crucial factor that influences a car purchase decision. When buying a vehicle, one of the first things you’d like to know is how much it will cost to own a particular model. However, the cost of car ownership involves not just the unit’s selling price. There are other equally important costs that come with having a car—insurance is one of them. Fortunately, a lot of options are available in the market when it comes to the cheapest cars to insure in the Philippines. Most of them happen to be cars with the cheapest vehicle selling price, especially hatchbacks from Japanese automakers such as Suzuki, Mitsubishi, Honda, and Toyota. What model are you planning to buy? Is it inexpensive to insure? Check out the top cars that are cheap for insurance. Note: The car insurance prices below are based on 2020 vehicles. Annual insurance premiums are based on the Moneymax auto insurance comparison platform. Table of ContentsCheapest Cars to Insure in the Philippines in 20211. Hyundai Eon2. Suzuki Celerio3. Chevrolet Spark4. Mitsubishi Mirage G45. Kia Picanto6. Honda City7. JAC S18. Suzuki APV9. Suzuki Dzire10. Honda Brio11. Toyota Wigo12. Nissan Almera13. Honda Brio Amaze14. JAC J415. Toyota Vios16. Suzuki Ertiga17. Volkswagen SantanaFinal ThoughtsGet a Free Car Insurance Quote! Cheapest Cars to Insure in the Philippines in 2021 1. Hyundai Eon 💰 Cheapest annual car insurance premium: PHP 6,776 (2020 GL 0.8L Gas M/T) One of the most popular hatchbacks in the Philippines, the Hyundai Eon is very easy to afford by first-time drivers, with its affordable price of under…
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Every LTO Fee for Car Registration, Driver’s License, and Violations
- By Venus Zoleta
- February 16, 2021
Each transaction with the Land Transportation Office (LTO) comes with a fee—whether it’s for vehicle registration, driver’s license application or renewal, or settling a traffic rule violation. Learning about every LTO fee is an inescapable reality every car owner in the Philippines must deal with. What’s worse than parting away with your money is getting shocked at the amount you’ll have to pay at the LTO office. Unpleasant surprises like that can be avoided if you know the exact fees that you’ll be charged beforehand. That, or bring extra cash to avoid the inconvenience of running to the nearest ATM. Before you head out to the LTO office, take note of these LTO fees to expect for each kind of transaction you’ll have with the government agency. Table of ContentsLTO Car Registration FeesMUVC Rates for Car RegistrationOther LTO Fees for Car RegistrationLTO Penalty for Late RegistrationLTO Fees for Driver’s License Application and RenewalLTO Violation FeesFinal ThoughtsGet a Free Car Insurance Quote! LTO Car Registration Fees In August 2018, reports surfaced about the Department of Finance’s proposal to increase the Motor Vehicle User’s Charge (MVUC). This is the MVUC meaning and it is part of the LTO fees you pay when you register your vehicle. As of this writing, no executive order has been released yet by the Malacañang, so the present rates on the LTO website are the same. MUVC Rates for Car Registration Here are the MVUC rates for private cars in the Philippines based on vehicle type and gross weight. For starters, registering your motorcycle will cost you PHP…
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LTO Violations Every Motorist Should Take Note Of
- By Moneymax
- February 12, 2021
Even the most careful drivers can get a ticket at least once in their lives. Whether it’s for smoking in a non-smoking area or for throwing garbage at the wrong place, we’ve all paid fines for doing something we shouldn’t. If you’re a motorist in the Philippines, chances are you’ve already received a ticket from the Land Transportation Office (LTO) for violating a traffic rule or two. We sympathize because we’re all just humans. There are some days when you just forget or lose your cool. However, the goal is to not be fined or penalized again. You can certainly achieve that by being a responsible and knowledgeable motorist and taking note of these LTO violations. Table of ContentsLTO Fines and Penalties for Traffic and Administrative ViolationsLicense-Related LTO ViolationsNumber Plate-Related Violations and PenaltiesParts and Accessories-Related Violations and PenaltiesFAQs on LTO Violations and Penalties1. What’s the penalty for not wearing a face mask inside private vehicles?2. What’s the LTO fine for DTS violation?3. How much is the LTO fine for brake light violation? 4. What’s an LTO alarm violation?Final ThoughtsGet a Free Car Insurance Quote! LTO Fines and Penalties for Traffic and Administrative Violations License-Related LTO Violations 1. Driving Without License LTO fine: PHP 3,000 Going for a quick drive but too lazy to get a driving license? Think twice before starting your vehicle then. The penalty for driving without a license in the Philippines is a hefty PHP 3,000. This driving without license fine also applies to having a delinquent, expired, suspended, revoked, improper, or fake driver’s license. Heads-up for…
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